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NAFDAC Fines Guiness N1b Over expired Raw Materials

The National Agency for Food and Drug Administration and Control (NAFDAC) has slammed a N1 billion administrative charge fine on beverage maker, Guinness Nigeria Plc. over infractions related to the use of expired raw materials for its beverages. NAFDAC’s findings during an inspection of the company’s facility in Ikeja, Lagos, …

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N26.2bn Diamond Bank Debt: Business Mogul Sunny Odogwu To Forfeit Luxury Hotel

Following a debt recovery suit of N26.2bn filed by Diamond Bank against one of Nigeria’s renowned business mogul, Chief Sunny Odogwu, and his two companies, Robert Dyson & Diet Limited and SIO Properties Limited, a Federal High Court in Lagos last week entered judgment in favour of the bank. In …

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MTN CEO Resigns Over N1.04trn Fine Crisis

The Group Chief Executive Officer of MTN, Sifiso Dabengwa has resigned his appointment this morning with immediate effect. His resignation may not be unconnected to the recent fine crisis imposed on the giant telecommunication by the Nigerian Communication Commission(NCC) for failing to deactivate over five million subscribers who failed to register …

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NCC Renews MTN Nigeria Mobile Licence

The Nigerian Communications Commission (NCC) has renewed the mobile licence held by the MTN Group for another period of five years, ending on August 31, 2021 for its operations in Nigeria operating as MTN Nigeria through which it offers GSM services among a bouquet of telecom offerings. This is consequent …

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BVN: Diaspora Bank Customers Get January 31Deadline Extension

The timeline for Nigerian bank customers in the Diaspora to enroll for their Bank Verification Numbers (BVN) has been extended by the Central Bank of Nigeria (CBN) to January 31, 2016. The CBN in a statement on Monday in Abuja, by its Director, Corporate Communications, Mr Ibrahim Mu’azu, explained that …

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N1.04trn NCC Fine: At Last, MTN Resolves To Comply

After much attempts by MTN to dodge the huge sum of N1.04 trillion fine slammed on it by the country’s telecoms regulatory authority, Nigerian Communications Commission (NCC), the telecoms company has finally agreed to pay the fine. The NCC had last week fined MTN a whopping sum of N10.04trn for …

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NITEL Resurrects As Ntel, Plans To Deploy 4G Network

Natcom Development and Investment Ltd (Ntel), on Thursday, said it would deploy 4 Generation (4G) network to show its relevance in the Nigerian telecommunications market. The Managing Director of Ntel, Mr Kamar Abass, said this in Lagos during a media luncheon organised by the company. Ntel is the company that …

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World Bank Ranks Nigeria 169 Out Of 189 In Doing Business Report

The World Bank has ranked Nigeria 169 out of 189 countries in its latest report on the ease of doing business globally. A statement issued in Abuja on Tuesday by the Head of Communications, World Bank Nigeria, Mr. Obadiah Tohomdet, said the report takes into consideration the ease of obtaining …

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BVN: CBN To Stop Sale Of Forex To BDCs From Nov. 1

As part of measures to ensure strict compliance with the Bank Verification Numbers policy of the Central Bank of Nigeria, CBN, the apex bank has said it would discontinue the sale of forex to Bureau De Change operators that have not availed it the BVN of all its directors. Kevin …

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France Cautions Nigeria Against Gas Flaring, Urges Investment In Renewables

 France has urged the Federal Government to caution all relevant emission defaulters to drastically limit gas emissions because of its consequences on the environment. Amb. Stephane Gompertz, France’s Ambassador for Climate Change (Africa), made the call in an interview with the News Agency of Nigeria (NAN) in Abuja. According to …

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