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Hackers on the Prowl, Sweep N460M from Nigerian Bank

Suspected hackers have reportedly breached the system of a new generation bank in Nigeria (name withheld) stealing N460 million. The hackers had successfully jerked up the balance in a customer’s account from N781,000 to N466 million before the alarm blew. The Economic and Financial Crimes Commission (EFCC) today arraigned five …

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Dana Air Lends Support to Cure Cancer Patients

Dana Air has supported a Cancer-fighting nongovernmental organization – Project PinkBlue, to raise over six million naira to support people impacted by cancer and treatment of two cancer patients at a music and comedy fundraising recently in Abuja. According to the Executive Director of Project PinkBlue, Runcie C.W. Chidebe, “Our …

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FG, MTN Settles $8.1bn Forex Remittance Dispute Out of Court

A Federal High Court in Lagos on Thursday entered as judgment the settlement terms in a suit by MTN Nigeria Communications Limited against the Federal Government. MTN had challenged the $8,134,312,397.63 demanded from it by the Central Bank of Nigeria (CBN) over alleged forex remittance infractions.But the telecoms firm prayed …

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World Bank President Abruptly Resigns

The President of Washington-DC based World Bank, Jim Yong Kim Monday abruptly announced his resignation. He said he would leave on February 1. “It has been a great honor to serve as President of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in …

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13 African Countries Beat Nigeria in Forbes Business Ranking

Thirteen African countries have been ranked higher than Nigeria in Forbes Magazine’s Best Country for Business ranking for 2019. Nigeria emerged as the 110th Best Country for Business, below South Africa, ranked 59, Morocco (62), Seychelles (66), Tunisia (82), Botswana (83), Rwanda (90), Kenya (93), Ghana (94), Egypt (95), Namibia …

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Akwa Ibom Airline Set to Fly, Employs 400

Akwa Ibom State government-owned Ibom Airline Company is gearing up to commence operations having concluded its recrutment process with 400 direct and indirect jobs for Akwa Ibom unemployed persons and acquiring no fewer than three aircraft into its fleet. This is just as the State Government has maintained that the …

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Trade Fair Complex Traders Sue Amuwo-Odofin LG Over Levies

Three associations conducting businesses at the Lagos International Trade Fair Complex, Lagos Badagry Expressway, Lagos are seeking to restrain the Amuwo-Odofin Local Government Area (LGA), Lagos State from imposing levies and dues on their members. They have filed a suit, marked LD/5291C-CMW/18, against the LGA before an Igbosere High Court …

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Otedola to Sell Forte Oil Shares

The Chairman of Forte Oil Plc, Femi Otedola, has announced his decision to sell all his shares in the firm’s downstream business. This is coming more than three years after the firm sold 17 per cent of its equity to a Swiss oil trading firm. The firm disclosed the divestment …

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Diamond Bank Affirms Merger Plans with Access Bank

Diamond bank Plc has confirmed having merger talks with Access Bank Plc stating that the development is in the best interest of all stakeholders including, employees, customers, depositors and shareholders. In a statement signed by Chioma Afe, Head, Corporate Communications of Diamond Bank, the lender said that the proposed merger …

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FMT&A Cooperative Trains over 200 Members on Capacity Building

As part of it’s objectives of continuous capacity building for their members, the Federal Ministry of Transport and Aviation (FMT&A) Coperative Society has trained over 200 members in the area of entrepreneurship and retirement planning. The members drawn across the various sectors benefitted from different training programmes at different times, …

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