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Ecobank Nigeria Fires 1,040 Workers

The gale of job losses being witnessed in the country due to the current economic hardship has caught up with Ecobank Nigeria, which has sacked over 1,040 of its employees. The PUNCH reported on Tuesday that Diamond Bank Plc sacked over 200 members of its workforce, while FBN Holdings, the ...

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FG To Establish National Shipping Line – Amaechi

Minister of Transportation, Mr. Rotimi Amaechi, says the Federal Government is working on  the establishment of a national shipping line to ensure the maximum exploitation of the potential of the maritime industry. The minister said this in a keynote address he delivered at the 14th Maritime Seminar for Judges organised ...

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Stock Market Lost N1.732tn In One Year Under Buhari

The Nigerian stock market crashed by N1.732tn within one year of the Muhammadu Buhari-led Federal Government. The Nigerian Stock Exchange data showed that the NSE market capitalisation on May 28, 2015 was N11.658tn, while that of May 27, 2016 was N9.926tn. Market capitalisation is the total market value of the ...

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CBN To Introduce Flexible Exchange Rate Policy

To stave off recession in the economy, the Central Bank of Nigeria (CBN) is to adopt a flexible exchange rate policy. This, the Monetary Policy Committee (MPC) yesterday said, is to restore the automatic adjustments properties of the exchange rate. Addressing journalists at the end of the bi-monthly MPC meeting ...

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NNPC, Shell, Total, Mobil, Others Fleeced Nigeria Of $4.4bn

The Nigerian Extractive Industries Transparency Initiative (NEITI), yesterday, accused the Nigerian National Petroleum Corporation, NNPC, and other oil and gas companies of shortchanging the country and failing to remit $4.4 billion and N358.3 billion to the Federation Account in 2013. This comes as Lagos-based indigenous chartered accounting firm, SIAO Partners, ...

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NIMASA will Protect all National Assets in its Custody– DG

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has vowed that the Agency under his leadership will take all necessary precaution to ensure that all national assets under its care are used for the benefit of all Nigerians.   The DG said this ...

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Ex-NIMASA Director General, Omatseye Appeals Five Year Jail Sentence

Jailed former Director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Raymond Temisan Omatseye, has filled appeal against a five year sentence earlier handed to him by the Federal High Court sitting in Lagos, last week. Omatseye who was arraigned before the court on a 27-count charge bordering ...

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Ex-NIMASA Director General, Omatseye Jailed Five Years

A Federal High Court sitting in Lagos has sentenced a former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Raymond Temisan Omatseye, to five years in prison over N1.5bn contract scam.  Omatseye was arraigned before the court on a 27-count charge bordering on alleged contract variation, bid ...

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Sound Corporate Governance Key To Strengthen Nigeria’s Banking Sector – FBN Merchant Bank Boss

  The Managing Director and CEO of FBN Merchant Bank Limited,  Mr Kayode Akinjugbe has has called on Financial institutions in the country to ensure that a solid corporate governance structure should be adopted as a way of life in all banks in Nigeria. He made this call at the ...

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FirstBank Raises The Bar For SMEs

First Bank Of Nigeria Limited is set to add  value and strength to Small and Medium Scale Enterprises (SMEs)  as part of identifying with their pivotal role in national development. The Bank is set to ensure that aspiring SME entrepreneurs sail over obvious obstacles in their quest of  ensuring the ...

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