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Dutch Rules that Nigerian Farmers Can Sue Shell

A Dutch Appeals Court ruled Friday that four Nigerian farmers may take their case against oil giant Shell to a judge in the Netherlands, in a landmark ruling involving multinational corporate governance. “The Dutch courts and this court consider it has jurisdiction in the case against Shell and its subsidiary ...

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N1.04trn Fine: MTN Threatens Court Action Against NCC, Says, We Won’t Pay

MTN Nigeria has finally indicated its refusal to pay the N1.04 trillion fine slammed on it by the Nigerian Communications Commission, NCC, for its failure to disengage about 5.1 million improperly registered subscribers on its network in August and September 2015. The telecommunications giant also decided it would challenge the ...

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US Fed Rate Hike Worsens Naira Situation, Falls to N270/$

CBN blames currency’s plunge on speculators Ministry, MDAs conclude meetings on 2016 budget Ndubuisi Francis in Abuja and Obinna Chima with agency report After a two-day meeting, the Federal Open Market Committee (FOMC) of the US Federal Reserve Bank raised its benchmark interest rate by 25 basis points to 0.25 ...

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N1.153bn NIMASA Probe: Court Okays Detention ofAkpobolokemi, Nine Others

A Federal High Court sitting in Lagos has ratified the detention of former Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Patrick Ziadeke Akpobolokemi and nine others over an on-going probe of alleged N1.153bn fraud. The former NIMASA strongman and his alleged collaborators had been in detention for ...

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Cleanse Yourself Of Bad Eggs, Improve Services To Consumers, Finance Minister Tells NAICOM

The Minister of Finance, Mrs. Kemi Adeosun, has urged the National Insurance Commission (NAICOM) to rid itself of bad eggs in the industry and improving its services to its consumers if the industry must be positioned to contribute positively to the Gross Domestic Product (GDP) and creation of employment in ...

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Transport Minister Orders Probe of MAN, Oron

Minister of Transport, Rotimi Amaechi, has ordered a full- blown audit into the financial activities of the Maritime Academy of Nigeria (MAN), Oron, Akwa-Ibom State. The order is sequel to allegations of financial recklessness levied against the Rector of the institute, Mr. Joshua Okpo, through some secrete memos to the ...

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Oil Price Fall, Our Opportunity- Jadesimi

Logistics service providers in the nation’s energy sector have been urged to take advantage of the otherwise worrisome free fall of oil prices in the international arena to improve on their potentials in providing the logistics needs of oil majors operating in the country. The advice was made by the ...

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NIMASA Shuts Obat Oil Jetty Over Safety Rules Violation

By Alex Akao The Nigerian Maritime Administration and Safety Agency (NIMASA), has shut down Obat Oil and Petroleum Limited Jetty at Ibafon, Lagos, alleging that the prominent oil and gas facility owned by a first class traditional ruler from the South West Nigeria, violated certain safety standards. Specifically, the apex ...

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NCC Accuses Telcos Of Violating Line Porting Time

By Patrick Aigbokhan The ‘2015 3Q Compliance Monitoring and Enforcement Report’ of the Nigerian Communications Commission, NCC, has shown that three of Nigeria’ s mobile telecommunications network service providers, Globacom, Etisalat and MTN Nigeria, violated their Mobile Number Portability process time obligations in the third quarter of the year. According ...

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MTN Wins Respite Over $5.2bn Fine

AFP | Johannesburg November 16, 2015 Last Updated at 14:02 IST South African telecoms giant MTN has won a respite on the payment of a massive USD 5.2 billion fine imposed on the company in Nigeria to allow for negotiations, the mobile phone operator said today. The MTN has won ...

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