News

As part of measures to fast-track the re-construction of Apapa seaports access roads in Lagos State, the Nigerian Ports Authority (NPA) is to raise N4.3 billion. Addressing maritime stakeholders in Lagos on Monday, the Managing Director of NPA, Hadiza Usman, explained that NPA would provide N1.8 billion while Dangote Group and Flour Mills would provide N2.5 billion. Usman convened the meeting …

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… Babatunde Kasali appointed as New Chairman New Chairman, Mr. Babatunde Kasali.   Wema Bank Plc. has announced the resignation of its Chairman, Mr. Adeyinka Asekun from the Board of the bank following his appointment, and confirmation by the Senate as an Ambassador of the Federal Republic of Nigeria. Mr. Asekun whose resignation was announced at the bank’s board meeting …

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A business woman, Sindi Nnadozia, on Monday filed a divorce petition before a Nyanya Customary Court, Abuja, on grounds of accusation of infidelity by her in-laws and lack of care. Nnadozia, who filed the petition against the husband, Chima Andrew, said the in-laws were making life unbearable for her. “After I had my second child, my in-laws saw the baby …

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The Central Bank of Nigeria (CBN) plans to sell $100 million on today (Monday) at a special wholesale spot and forwards auction in its bid to improve dollar liquidity in the foreign exchange market and narrow the spread between official and black market rates. According to Reuters, traders, citing a notice from the regulator, said the dollar auction would be …

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Oando Plc said on Monday it was in talks to work with Italian energy company Eni to rehabilitate one of the West African nation’s four refineries. Nigeria, an OPEC oil producer with refining capacity on paper of 445,000 barrels per day (bpd), imports most of its gasoline needs because its refineries have been shut or running at reduced capacity for …

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Oil prices began the week on a positive note, as Saudi Arabia and Russia, the world’s largest producers, agreed to extend the historic OPEC deal till March 2018. In a joint statement to journalists on Monday, Khalid al-Falih, Saudi’s energy minister and Alexander Novak, said they would do whatever it took to curb oversupply. “There has been a marked reduction to …

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…As 2016 Christian Pilgrimage Recorded No Deaths, Harassment And No Police Arrests The Executive Secretary of the Nigeria Christian Pilgrim Commission (NCPC), Rev. Tor Uja has disclosed that the Commission would hold Farmers Pilgrimage Conference in July this year. He made this disclosure over the weekend at an official dinner in Abuja organized for the visiting Israeli Special Envoy to …

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The Standards Organisation of Nigeria (SON), said on Monday it had seized no fewer than 213 substandard assorted toiletries in Kaduna in the first quarter of 2017. The state’s Coordinator of SON, Mr Danlami Datti, made the disclosure in an interview with the News Agency of Nigeria in Kaduna. Datti said SON’s objective was to promote the nation’s quality products …

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The Federal High Court in Lagos has ordered Skye Bank Plc to take over a five-star hotel, Intercontinental Hotel, located at Plot 244 and 245 (now 52) Kofo Abayomi Street, Victoria Island, Lagos. The bank had dragged Milan Industries Limited, owner of the 361-room Intercontinental Hotel, to court over an alleged debt. Skye Bank claimed to have granted loan facilities …

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Only 350 new vehicles were imported by Nigerian auto firms in the first quarter of this year, which shows a drop of about 90 per cent over 3,500 recorded in the same period last year. The Managing Director of Toyota Nigeria Limited, Mr. Kunle Ade-Ojo, who gave the statistics at a press briefing in Lagos, attributed the development to high …

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