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Business and Economy

CBN dismisses reports of distress in Nigerian banking sector

Central Bank of Nigeria (CBN) has responded to growing reports of distress in the Nigerian banking sector, describing the claims as ‘false, mischievous.’ A statement by CBN Director, Corporate Communications, Ibrahim Mu’azu, late Thursday, said: “No Nigerian bank is ‘experiencing stress. “The CBN hereby assures the banking public that the …

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Gov. Emmanuel Commissions residential apartments for Ibom International Specialist Hospital

The Akwa Ibom State Quartenary Medical Center, Ibom International Specialist hospital, is set to commence operations as medical expatriates have arrived the state to test run facilities at the center. The State Governor, Mr Udom Emmanuel, announced this during the Commissioning of the ultra modern Residential Apartments of the Hospital …

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Airtel repositions for Next Growth Phase; plans rightsizing of workforce

Airtel Nigeria has announced plans to embark on a strategic restructuring intended to fully reposition the business and ‘reinforce its competitiveness in the market place.’ A statement by Mr. Emeka Oparah, Director, Corporate Communications & CSR, Tuesday, explained that the exercise, ‘which is focused on aligning the company’s structure with …

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Ambode invites OPS, entrepreneurs to tap into rapidly growing investment business climate in Lagos

Lagos State Governor, Mr Akinwunmi Ambode on Sunday invited members of the Organised Private Sector and entrepreneurs to take advantage of the rapidly growing business climate to invest in the State. The Governor who spoke during the celebration of Lagos State Day at the 2015 Lagos International Trade Fair held …

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Ambode sends N25B Employment Trust Fund Bill to Assembly …..Proposes five-year single tenure for LASU VC

Lagos State Governor, Mr. Akinwunmi Ambode has sent the Employment Trust Fund Bill 2015 to the State House of Assembly for consideration and ratification. The bill aims to radically transform employment creation in the state with N25bn proposed to be spent over four years as a support scheme for young …

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Oil, gas sector facing sharp low revenues — NNPC boss, Kachikwu

Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Dr Ibe Kachikwu, Monday, disclosed that industry  was facing a sharp lower revenues from the country’s oil assets. Kachikwu said this at the 33rd Annual International Conference and Exhibition organised by Nigerian Association of Petroleum Explorationists (NAPE) in Lagos. The NNPC …

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(Photonews) ‘Dinner with His Excellency’ organized by Lagos State Security Trust Fund at Victoria Island

Lagos State Governor, Mr. Akinwunmi Ambode  discussing with the Corporate Affairs Adviser, Nigerian Breweries PLC., Mr. Kufre Ekanem  and the Deputy Managing Director, Dana Group of Companies, Mr. Gautam Hathiramani during a ‘Dinner with His Excellency’ organized by the Lagos State Security Trust Fund (LSSTF) at Ademola Adetokunbo Street, Victoria …

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SNEPCo promotes (M)Ethanol clean cookstoves in drive for safer cooking method in Nigeria

Shell Nigeria Exploration and Production Company (SNEPCo) has signed an agreement with Project Gaia Prospects Limited (PGPL) for the conduct of a pilot study on the use of Ethanol clean cookstoves, a cleaner and safer way of cooking. SNEPCo will provide 2,500 clean cookstoves and 15,000 canisters for distribution to …

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