A Nigerian firm, First Exploration and Production (First E&P), has struck oil from an oilfield it acquired following the divestment of Chevron Nigeria Limited (CNL) from the asset located off Bayelsa coastline. Chevron had in 2015 divested from OMLs 83 and 85 while the asset was acquired by First E&P, …
Read More »Insecurity: Disclose security votes spending for 2021, SERAP tells Buhari, 36 governors
Socio-Economic Rights and Accountability Project (SERAP) has sent Freedom of Information requests to President Muhammadu Buhari and 36 state governors urging them to “disclose details of proposed ‘security votes’ spending in your 2021 appropriation bills to ensure the security and welfare of Nigerians, and to explain the measures your governments …
Read More »Osinbajo sets up technical advisory team to tackle malnutrition
By Chijioke Okoronkwo Abuja, Dec. 24, 2020 Vice President Yemi Osinbajo has set up an adhoc Technical Advisory Group to support the implementation of the 5-year National Multi-Sectoral Plan of Action on Nutrition (NMPAN). Osinbajo’s spokesman, Laolu Akande, in a statement on Thursday in Abuja, said that the Vice President …
Read More »Rivers Govt’s takeover of Shell JV’s Kidney Island and SPDC’s interest in OML 11 dismissed
The Shell Petroleum Development Company of Nigeria Limited (SPDC) has dismissed the purported takeover of Kidney Island asset of the SPDC Joint Venture in Port Harcourt by the Rivers State Government in the exercise of rights purportedly acquired through a court auction process that is still the subject of ongoing appeals …
Read More »Leo Stan Ekeh not indicted by Police, EFCC, any Court in Nigeria – Zinox
The management of Zinox Technologies, Nigeria’s leading integrated Information and Communications Technology (ICT) company, has debunked allegations of its Chairman, Leo Stan Ekeh, being indicted by the Nigerian Police. This was contained in a detailed statement released to the media on Tuesday, December 22, 2020. ‘‘Firstly, Zinox Technologies makes bold …
Read More »US Congress passes Covid-19 relief bill, federal budget
Washington, Dec. 22, 2020 The U.S. Congress on Monday passed a coronavirus relief bill worth more than $900 billion, in a long-awaited move that will bring some degree of respite for people hit hard by the pandemic. The new relief package will temporarily boost weekly unemployment benefits and will give …
Read More »SunTrust Bank boosts SMEs with N23.96billion loan
In its commitment to make the growth of the small and medium scale enterprises (SMEs) its primary focus, SunTrust Bank gave out N23.96 billion as loans and advances to the sector in 2019. This information was contained in the bank’s annual report, made available to our reporter over the …
Read More »$4.6bn Ibom Deep Seaport to create over 300,000 jobs – Official
Sunday Bassey Uyo, Dec 19, 2020 The Government of Akwa Ibom says the approval of 4.6 billion dollars by the Federal Government to build Ibom Deep Seaport (IDSP) will create jobs for over 300,000 youths in the state. Mr Akan Okon, the Commissioner for Economic Development and Ibom Deep Seaport, …
Read More »Access Bank named ‘Safest Bank’ in Nigeria
By Itohan Abara-Laserian Lagos, Dec. 18, 2020 Access Bank Plc has been named the ‘Safest Bank’ in Nigeria for 2020 by Global Finance for its continued efforts in ensuring the protection of customers’ funds and data. Mr Herbert Wigwe, Access Bank Chief Executive Officer, announced this in a statement made …
Read More »N5trillion debt: AMCON requires complementary radical powers – Justice Tsoho
Chief Judge of the Federal High Court, Justice John Terhemba Tsoho has declared that although Nigerian banks were restructured prior to the nation’s last financial crisis through consolidation, the restructuring was not able to shield Deposit Money Banks (DMBs) in the country from the effects of the crisis. This, he …
Read More »Azimo, Transfer Wise not registered IMTOs; Don’t patronize them – CBN
The Central Bank of Nigeria, CBN, has said that Messrs. Azimo and Messrs. Transfer Wise, both of which are said to be transacting business as International Money Transfer Operators (IMTOs) are not licensed by the nation’s apex bank to do so. A statement by Osita Nwanisobi Ag. Director, Corporate Communications …
Read More »Access Bank unveils digital platform for SMEs
By Chinyere Joel-Nwokeoma Lagos, Dec. 16, 2020 Access Bank Plc on Wednesday unveiled the first payment acceptable service in the banking industry for Micro, Small and Medium Enterprises (MSMEs) to participate actively in the digital space. Mrs Ayodele Olojede, the bank’s Group Head Emerging Businesses, said that the solution, tagged …
Read More »How I cut cost of governance as Anambra Governor – Obi
Former Governor of Anambra State, Mr. Peter Obi, has explained that one of the most potent ways of getting governance right in Nigeria is by, those in authority, pruning the cost of governance, which he described as outrageous and not sustainable. Obi was speaking yesterday to Senior Security Officers and …
Read More »Beware of blackmail, Ekeh, Zinox boss, advises budding entrepreneurs
Serial digital entrepreneur and Chairman, Zinox Group, Leo Stan Ekeh, has advised budding Nigerian entrepreneurs to be wary of the rising threat of executive blackmail, noting that in the 21st century, they have to remain selectively deaf and dumb to be successful as too many people are talking at the …
Read More »Dutch TV documentary: Shell denies alleged complicity of staff in vandalism
The Shell Petroleum Development Company of Nigeria (SPDC) says the allegations in a Dutch Television documentary that its staff were involved in pipeline vandalism for personal gains lacks evidence. It will be recalled that a Dutch Television in a documentary produced in collaboration with an environmental rights group Milieudefensie and …
Read More »CBN releases categorisation for payment system
By Kadiri Abdulrahman Abuja, Dec. 11, 2020 The Central Bank of Nigeria (CBN), in line with its commitment to promote a strong and credible payment system, has approved new license categorisations for the payments system. A circular signed by Mr Musa Jimoh, Director, Payments System Management Department of the apex …
Read More »NCDMB lauds impact of local content on oil, gas industry
By Solomon Asowata Lagos, Dec. 9, 2020 The Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday said the development of local content helped in mitigating the impact of the COVID-19 pandemic on the operations of Nigeria’s oil and gas industry. Mr Isaac Yalah, Director, Finance and Personnel Management, NCDMB, …
Read More »Nigerian Oil and Gas sector now fully indigenized, says NCDMB Boss
By Nathan Nwakamma Port Harcourt, Dec. 8, 2020 The Nigerian Content Development and Monitoring Board (NCDMB) on Tuesday disclosed that exploration and production in the Nigeria oil and gas sector was now fully indigenized. Mr Simbi Wabote, Executive Secretary of NCDMB, made the disclosure in a goodwill message to a …
Read More »Buhari calls for ECOWAS commitment as ACFTA begins Jan. 2021
By Lizzy Okoji Abuja, Dec, 5, 2020 President Muhammadu Buhari has called for the commitment of member states of the Economic Community of West African States (ECOWAS) as the African Continental Free Trade Area (AfCFTA) Agreement begins on Jan. 1. Buhari made the call at the 13th Extra-Ordinary Summit of …
Read More »BPE responsible for concession of public enterprises, infrastructure listed in First, Second Schedules of Public Enterprises Act – Osinbajo
With the new Federal Government’s circular on the administration of Public-Private Partnership (PPP) projects in the country, the Bureau of Public Enterprises (BPE) shall be responsible for the concession of public enterprises and infrastructure already listed in the First and Second Schedules of the Public Enterprises Act, Vice President and …
Read More »Kyari assures indigenous shipping companies of support
The Nigerian National petroleum Corporation (NNPC) has expressed its readiness to support indigenous fleet owners to enjoy greater patronage and participation in the oil and gas maritime business in Nigeria. The Group Managing Director of NNPC, Mallam Mele Kyari, gave the assurance while playing host to members of the Nigerian …
Read More »Global Ultra Logistics offers unbeatable Yuletide discounts for all shipments to and from Nigeria, US, UK, Canada
Leading international logistics company, Global Ultra Logistics, is offering an unbeatable yuletide promo for all users of their services in Nigeria and abroad. The Big Offer, which started on November 15, 2020 and will last till January 31, 2021 involves a 50 percent discount on all shipments from the United …
Read More »Nigerian traders in Ghana applaud FG’s planned evacuation of citizen
By Maureen Okon Abuja, Dec. 3, 2020 The National Association of Nigerian Traders (NANTS) and the Nigerian Union of Traders Association in Ghana (NUTAG) on Thursday praised the Federal Government over its planned evacuation of citizens from that country. The groups lauded the Federal Government at an Inter-Ministerial Committee meeting …
Read More »Gowon seeks innovative ways to reposition transportation … Condemns destruction of public assets… As CIoTA moves to professionalise transportation
Former Head of State, General Yakubu Gowon (Rtd), has called for partnership between the public and private sectors in order to come up with innovative ways of resolving the transportation challenge in the country. Gowon spoke on Tuesday in Abuja at the opening of the Second National Transport Summit organised …
Read More »Dangote Fertiliser empowers 150 beneficiaries impacted by pipeline construction
As a means of supporting livelihood to host communities impacted by the 54km gas pipeline to the Fertiliser plant, Dangote Fertiliser Limited (DFL) embarked on a programme to empower 150 Project Affected Persons(PAPs) through a cassava enterprises programme. The programme was geared towards mitigating the negative impact of the land …
Read More »