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South Korea Prosecutors Seek Arrest Warrant For Samsung Boss Over Bribery Scandal

Special prosecutors have requested an arrest warrant for Samsung chief Lee Jae-yong, who faces bribery, embezzlement, and perjury charges over his role in Korean presidential scandal that is gripping the nation. The request follows their quizzing of him on Friday, which lasted over 22 hours, over whether Samsung knowingly paid ...

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MMIA Arrival Hall: Budget Minister Commends FAAN On Improved State of Facility

Mrs. Zainab Ahmed, Minister of State, Budget and National Planning, has applauded the Federal Airport Authority of Nigeria (FAAN) over the improved state of the arrival hall of the Murtala Mohammed International Airport, (MMIA), Lagos. Ahmed made the remark recently at the airport in Lagos during her one-day tour of ...

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Nigeria’s Economy to Rebound, Grow by 1% in 2017- World Bank

The World Bank has predicted that the Nigerian economy would rebound from recession and grow by one per cent in 2017. The multilateral institution stated this in its January 2017 Global Economic Prospects report. Nigeria’s third quarter 2016 real gross domestic product (GDP) had contracted by 2.26 per cent from ...

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Jonathan, Diezani ‘Bribed’ With $466m in Malabu Oil Deal

Goodluck Jonathan, former Nigerian president, and Diezani Alison-Madueke, immediate past petroleum minister, were allegedly given bribes in the $1.3 billion deal involving ENI and Royal Dutch Shell. Jonathan, Alison-Madueke, and other government officials benefitted from a sum of $466m which was converted into naira, Italian prosecutors say. According to the ...

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Naira Slightly Appreciates Against The Dollar After Two Weeks Down In A Row

The naira on Monday appreciated at the parallel market after two weeks of posting losses. The currency gained three points to exchange at N490, from N493 it posted last Friday, while the pound sterling and the euro traded at N600 and N506, respectively. At the bureau de change window, the ...

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Naira In Further Fall Against Major Currencies

It was a bad outing for the Nigerian currency on Thursday at the parallel market as it weakened against all three major currencies, the News Agency of Nigeria (NAN) reports. NAN reports that Naira lost three points to the dollar as it closed at N493 to a dollar, against N490 ...

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NNPC Awards 2017 Crude Term Contracts To Oando, Sahara, 37 Others

The Nigerian National Petroleum Corporation(NNPC) has announced 39 companies as the winner for the 2017/2018 crude oil contracts The total list of selected  39 companies consists of 18 Nigerian companies, 11 international traders, five foreign refineries, three National Oil Companies (NOCs), and two NNPC trading arms. A statement by the Group ...

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Team Sisterly Wins FirstBank Reality TV Show

PRIZE PRESENTATION : Deputy Managing Director, FirstBank, Gbenga Shobo (Middle); Executive Chairman and CEO of EbonyLife TV, Mo Abudu ( third left); Group Head, Marketing and Corporate Communications, FirstBank, Folake Ani-Mumuney (second right) presenting the star prize to the winners of the FirstBank FirstStars Reality TV show (Team Sisterly) .

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MMM Nigeria Announces Return With Promo

MMM Nigeria, a Ponzi scheme in Nigeria has announced to resume operations after freezing the mavros accounts pf its participant in mid-December The scheme, via its website, asked participants, whose accounts were frozen, to perform “Promo Tasks: A New Tool for MMM Community Development”. The tasks, which would be done ...

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NNPC Failed To Remit $15.8bn To Federation Account As At 2014, Says NEITI

Nigeria Extractive Industries Transparency Initiative (NEITI) says the Nigeria National Petroleum Corporation had, as at 2014, withheld $15.8 billion from the federation account paid by the Nigeria Liquefied Natural Gas. In an audit report for 2014, NEITI said NLNG paid $1.42 billion to NNPC as dividends, loan and interest repayments ...

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