Item recovery coy LfReturnMe debuts in Abuja

August 12, 2022 Benjamin Umuteme 0

In what will out an end to heartbreak occasioned by loss of items on transit, an Abuja based company is set to enter into the Lost but found items recovery market. LfReturnMe guarantees that over 98 per cent of lost tag items found can reach their legitimate owners anywhere in the World. All you need for LfReturnMe to work is Read More

CSO wants Accountant General to emerge through merit-based, competence, character process

August 12, 2022 David Agba 0

The President of the Civil Society Groups for Good Governance (CSGGG) Comrade Ogakwu Dominic, Thursday said that the rigorous screening process to select an Accountant General for the Federation must be merit-based, focusing on credentials, past and present work experience, competence, capacity and character viz-a-viz the principles of Accountability, Integrity and Transparency (AIT). Ogakwu stated this while addressing the press Read More

Russian oil pipeline reopens after Hungary settles bill with Ukraine

August 12, 2022 Blessing Anaro, Lagos 0

Hungary’s main oil conglomerate has said it would pay an outstanding bill owed by Russia’s oil pipeline operator to the Ukrainian authorities, clearing the way for Russian oil deliveries to resume to three Central European countries. Analysts described the financial arrangement as an unexpected boomerang effect of sanctions imposed on Moscow. The conglomerate, MOL Group, an administrator of the Hungarian Read More

CNPP to Buhari: Inefficiency, corruption in NNPC reason for Nigeria’s inability to meet OPEC quota

August 12, 2022 Blueprint 0

Conference of Nigeria Political Parties (CNPP) has urged President Muhammadu Buhari to end the inefficiency and endemic corruption in NNPC Limited, formally Nigeria National Petroleum Corporation (NNPC), if Nigeria will ever meet its Organisation of Petroleum Exporting Countries (OPEC) production quota in the near future. The CNPP in a statement signed by its Secretary General, Chief Willy Ezugwu, said that Read More

Republic of Cameroon seeks AIB-N help on accident investigation

August 11, 2022 Adeola Tukuru 0

The Republic of Cameroon has sought for support of Accident Investigative Bureau, Nigeria Chapter (AIB-N) on the investigation of an accident involving Havilland DHC 400 Twinotter aircraft that occurred on May 11, 2022 in Cameroon. The Director of Civil Aviation of the Ministry of Transportation, Cameroon, Mrs Essimi Dine, who led the team to AIB-N headquarters in Abuja on Wednesday Read More

Nigeria’s non-oil revenue among world’s lowest – Expert

August 11, 2022 Segun Odunewu 0

A senior public sector specialist, domestic resource mobilization with the World Bank, Rajul Awasthi, has revealed that between 2015 and 2019, Nigeria’s non-oil revenue was among the lowest in the world and as a result the second lowest in spending. Awasthi who disclosed this at a virtual pre-summit themed ‘Critical Tax Reforms for Shared Prosperity’ organized by the Nigerian Economic Read More

Seplat seeks FG’s clarification on ExxonMobil acquisition deal

August 11, 2022 Segun Odunewu 0

Seplat Energy allay fears of its investors over news that President Buhari had withdrawn his approval of allowing it to acquire MPNU from ExxonMobil, three days after consenting to the agreement. The deal which was initially announced in February this year was set to follow the well-trodden path of other oil and gas deals in Nigeria which have been subject Read More

Cryptos could destroy Nigeria, other developing nations’ monetary sovereignty – UNCTAD

August 11, 2022 Blessing Anaro 0

The UN Conference on Trade and Development (UNCTAD) has called for action to curb cryptocurrencies in Nigeria and other developing nations. The UN trade and development agency made the call in three policy briefs entitled ‘All that glitters is not gold: The high cost of leaving cryptocurrencies unregulated’, published on Wednesday. The policy brief examines the reasons for the rapid Read More

We spent N70bn in 10 years financing agric, N70bn SMEs – Jaiz Bank

August 11, 2022 Benjamin Umuteme 0

Nigeria’s first non -interest financial institution, Jaiz Bank says over N75 billion has been spent since it started operations financing the agricultural sector. Jaiz Bank’s Managing Director Hassan Usman, who said this Thursday in Abuja, also said the Bank financed Small and Medium Enterprises (SMEs) to the tune of N60 billion.  He said: “We have worked with partners to create Read More

More grain ships sail from Ukrainian port

August 11, 2022 Editorial IV 0

 Two more grain-carrying ships left Ukraine’s Chornomorsk port on Tuesday, Turkey’s defence ministry said, as part of a deal to unblock Ukrainian sea exports, bringing the total to leave the country under a safe passage deal to 12. The Ocean Lion left for South Korea, carrying 64,720 tonnes of corn, it said, while the Rahmi Yagci was carrying 5,300 tonnes Read More

Customs nets N142.95bn revenue at PTML 

August 11, 2022 David Agba 0

The Ports and Terminal Multiservices Limited (PTML) Command of Nigeria Customs Service has disclosed that it collected a total of N142.95 billion between January and July 2022.  The command’s spokesman, Yakubu Mohammad, disclosed in a statement made available to newsmen.  Mohammad said the figure is 15 percent above the N124.18 billion collected during the same period in 2021.  He said Read More

Nigerians spend N987bn on phone importation in 3 years

August 11, 2022 Editorial IV 0

Nigerians spent $2.35 billion (about N987 billion) to import phones, mostly mobile telephone handsets, in three years.  According to data from the International Trade Centre (ITC), Nigerians spent $807.95 million (N340 billion) on importation of phones in 2019, $765.57 million (N322 billion) in 2020 and $772.25 million (N325 billion) in 2021. ITC is a multilateral agency with a joint mandate Read More

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Nigeria lacks Int’l standards in products, services delivery – SON DG

August 11, 2022 Adeola Tukuru, 0

The Director General of Standards Organization of Nigeria (SON), Alhaji Farouk Salim, has said that one of the challenges facing Nigeria has been international standards both in products and services delivery . The DG who noted this at the inauguration of national technical committee for adoption and certification of education management standards in Abuja, said the SON is aligning to Read More

Mouka foam rewards partners nationwide, assures endearing relationship

August 10, 2022 Blessing Anaro, Lagos 0

Mouka, Nigeria’s leading manufacturer of mattresses, pillows, and other bedding products, has rewarded its loyal Business Partners with fabulous prizes in recognition of their contribution to the company’s growth trajectory. Gifts such as Tricycles, Air Conditioners and Television sets were presented to the highly elated Business Partners amidst the glitz and glamour of the African-themed evening. Celebrities, medical practitioners, media Read More

Nigeria’s fiscal situation dire with running subsidy – Budget Office

August 10, 2022 Blessing Anaro, Lagos 0

Nigeria must cut petrol subsidies and boost revenue collection to avoid a sharp deterioration in government finances next year, the nation’s budget office has said. The budget deficit may rise to N12.4 trillion ($29 billion) next year. This is almost three times total revenue, or 5.5 per cent of Gross Domestic Product (GDP). Nigeria spent N1.59 trillion ($3.83 billion) on Read More

SADC, Afreximbank launch Africa Trade and Investment Marketplace

August 10, 2022 David Agba Abuja 0

The African Export-Import Bank (Afreximbank) and the SADC Business Council (SADC BC) launched the SADC – Africa Trade and Investment Marketplace which aims to promote regional trade, unlock investment opportunities, deepen economic cooperation, and drive sustainable business growth between the SADC region and the rest of Africa. The SADC – Africa Trade and Investment Marketplace will provide the private sector Read More

Bulls return as equity market gains N391bn

August 10, 2022 Amaka Ifeakandu, Lagos 0

Transactions on the floor of Nigerian Exchange (NGX) yesterday closed northward, increasing by N391 billion. Market capitalisation of listed equities increased by 1.47 per cent to N27.009 trillion from N26.618 trillion reported on Tuesday. The NGX All Share Index also appreciated by 724.76 basis points to 50075.47 points from 49350.71 points reported the previous day. Investors traded 279.221 million shares Read More

We’re committed to security provision in FHA’s estates – Ashafa

August 10, 2022 Tope Sunday 0

The Managing Director/ Chief Executive Officer of the Federal Housing Authority (FHA), Senator Gbenga Ashafa, Wednesday, said the management of the authority is committed to the provision of adequate security within its estates across the country. Ashafa spoke at the official commissioning of a Police Post donated to the Federal Capital Territory (FCT) Police Command by the FHA, held at Read More

All Nigerian banks remain safe, sound – NDIC boss

August 10, 2022 Segun Odunewu, Lagos 0

Bello Hassan, Managing Director, Nigeria Deposit Insurance Corporation (NDIC) has said that all Deposit Money Banks (DMBs) in Nigeria, including Polaris Bank, are safe and sound. Hassan clarified the sideline of a three-day Capacity Building Workshop organized by the Legal Department of NDIC, for law enforcement agencies at BWC Hotel, Victoria Island, Lagos, on Wednesday. Speaking at the workshop which Read More

FG to add 204MW electricity in Ekiti

August 10, 2022 Tope Sunday 0

The federal government has commenced the construction of a 132 kilovolts transmission line and a 2 by 60MVA transmission substation and a switching station in Ekiti state to raise the state’s capacity by 204 megawatts (MW). A statement issued in Abuja by the General Manager, Public Affairs, Transmission Company of Nigeria (TCN), Ndidi Mbah, quoted the Minister of Power, Engr. Read More

CNL spends N266m on OMoU, support NCF with $250,000 in 2021

August 10, 2022 Benjamin Umuteme 0

Oil major, Chevrron Nigeria Limited has said that it spent approximately N266 million in 2021, in its Offshore Memorandum of Understanding (OMoU). In its 2021 Corporate Responsibility Report titled: Enabling Human Progress, Creating Prosperity, the company said that it impacted over 50,000 community members through hundreds of infrastructural projects, in its areas of operation. According to the report, 400-meter and Read More