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N2.6 B NIMASA Fraud: Bank Manager Reveals More Facts Against Akpobolokemi

The on-going case of alleged N2.6 billion fraud against embattled former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Patrick Akpobolokemi, took a fresh twist during the week following more damning revelations by the manager of one of the banks allegedly used by him to defraud the ...

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FG Compels Merger Of Ship Owners’ Splinter Groups

A Federal government’s directive through the Nigeria’s Minister of Transportation, Rotimi Amaechi, has compelled the various associations of indigenous ship owners in the country to merge under a common umbrella known as the Shipsowners Forum. The various splinter groups which may now have to operate as one body in deference ...

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Customs in Owerri Seize N219m Contraband from Smugglers

It was ‘bad market’ for suspected smugglers operating within the axis of Owerri, Imo state, when Customs operatives swooped on them and impounded a 40 feet container load of two 2,000 cartons of imported frozen poultry products, cleverly concealed by 3,300 crates of Lacasera drinks, with a Duty Paid Value ...

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FG To Split NNPC Into 30 Profitable Companies

Ibe Kachikwu, group managing director of the Nigerian National Petroleum Corporation (NNPC), says the company is to be unbundled into 30 profit-making companies. Kachikwu, who also doubles as the state minister for petroleum resources, said each of the companies would have its separate managing director in the weeks ahead. He ...

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Too Many Regulations Is Affecting Our Business- MTN Nigeria

MTN Nigeria says that despite the “severe impact” of “heightened regulatory pressure” on its operations, it will continue to invest in Nigeria, especially as it contributes 4.5 percent to the country’s Gross Domestic Product (GDP). Announcing its 2015 fiscal year results in Nigeria, MTN said 2015 was a very challenging year for ...

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Africa Business Conference: FirstBank Canvases Increased Younger Generation Participation

First Bank of Nigeria Limited will again lead the leadership and policy influencing discourse  at the 2016 African Business Conference . The conference, in its fourth series is an annual forum that convenes business leaders across several sectors in Africa and investors seeking to do business with the aim of ...

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UBA Appoints Kennedy Uzoka As New GMD

The United Bank of Africa has announced the appointment of Kennedy Uzoka as the new group managing director-designate of the bank. At a meeting held at UBA House, the UBA Group’s Board yesterday said the appointment will take effect from August 1, 2016 and subject to the approval of the ...

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Nigeria Can Save 635bn Naira From Wheat Importation – Ogbeh

Nigeria’s Minister of Agriculture, Audu Ogbeh, says the country can save 635 billion Naira annually from wheat importation starting from 2018. The Minister, on Tuesday said “Nigeria is expected to become self-sufficient in wheat production by 2018”. Mr Ogbeh told reporters that 350,000 tonnes of wheat were expected in the coming ...

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NCC Receives N50bn Payment From MTN

The Nigerian Communications Commission (NCC), on Monday said it received N50 billion from MTN Nigeria Communications Ltd. as part settlement of fine it imposed on the communications firm. In a statement signed by Mr Tony Ojobo, the Director of Public Affairs of NCC, in Abuja. the commission had also revealed that ...

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Power Supply Drops By 624MW In 3 Days

The nation’s power supply slumped by 623.76 megawatts in three days, worsening the rationing that electricity distribution companies have been subjecting consumers to in recent days. The drop in the nation’s electricity generation has caused reduction in load allocation from the national grid to Discos. Electricity generated on Thursday, February ...

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