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Nigeria Loses N174bn To Gas Flaring — NNPC

Nigeria has lost up to about N173.76 billion ($868.8 million) to gas flaring in 2014, according to data obtained from Nigerian National Petroleum Corporation (NNPC). The NNPC in its Annual Statistical Bulletin (ASB) for 2014, disclosed that oil and gas firms in the country flared 289.6 billion standard cubic feet …

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I’m Elated By Wonderful Gesture Of Fidelity Bank – Tambuwal

Sokoto State Governor Aminu Waziri Tambuwal has said that the Fidelity Bank Helping Hands Programme (FHHP), an arm of the Bank’s Corporate Social Responsibility (CSR) practice is a viable tool in mitigating social inequalities in the country. Governor Tambuwal gave the commendation in Sokoto at the weekend while commissioning the …

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APM Terminals invests N80 billion on Port’s expansion in Nine Years

The Country Manager, APM Terminals Nigeria, Mr David Skov, has said the company had invested not less than $350 million (N80.5 billion) in yard expansion since port concession commenced in 2006. Skov said this in a paper entitled, “Building Economic Capacity through Maritime Infrastructure Development – The APM Terminals Perspective’’, …

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ECA: Jonathan Approved $2.1bn Withdrawal – Okonjo-Iweala

Former finance minister, Dr. Ngozi Okonjo-Iweala on Wednesday said that the unauthorized withdrawal of $2 billion from the Excess Crude Account (ECA) were used for paying for petroleum subsidies for the Nigerian people and were approved by ex-president Goodluck Jonathan. Responding to the statement by members of the Forum of …

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Visa Unveils Emerging Transaction Technology Innovations

VISA, the world’s foremost global payment technology and brand Evaluation Company, has unveiled more transaction innovations to improve its payment technology services to its customers. Visa payment technology is a system that enables its users to engage in ther financial transactions with the Visa cards anywhere all over the world. …

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NIMAREX 2015: Stakeholders Advocate Maritime Development for Economic Growth

Stakeholders and experts in the maritime industry, who gathered at the fifth edition of the on-going Nigeria Maritime Expo (NIMAREX), holding in Eko Hotel, Lagos, have called for a sustained development in capacity building in order to enhance the industry to take its pride of place in boosting the nation’s …

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Comptroller General of the Nigeria Customs Service, Alhaji Abdullahi Dikko Inde has warned of the potential health hazards in the consumption of imported frozen poultry product, beyond the negative impact of the nefarious business on local agriculture development in the country. The Customs boss gave the warning Tuesday, when he …

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N8bn CBN Currency Fraud: EFCC Alleges Plot To Scuttle Trial

The Economic and Financial Crimes Commission (EFCC) has accused the defence counsel in the N8bn mutilated currency fraud suit involving some staff of the Central Bank of Nigeria and other commercial banks of attempting to scuttle the trial. Proceedings were again stalled at the resumed trial before Justice Ayo Emmanuel …

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Rise In Online Transactions, Fraudulent Transfers, Stall Banks’ Growth –NDIC

The Nigerian Deposit Insurance Corporation (NDIC) has said that the astronomical rise in online transactions including fraudulent transfers and withdrawals in 2014 was responsible for the stunted financial growth of the banking sector. In its 2014 annual report for the banking sector, NDIC said the rate of fraud in the …

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Dangote To Double Investment In Cameroon

  The President of Dangote Group Aliko Dangote, has disclosed the company’s fresh investments drive towards expanding the output from its Douala plant, Cameroon, from the current 1.5 million metric tonnes per annum (mmtpa) to over three mmtpa. The initial investment cost the group $150 million (about N30 billion). During …

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