Business and Economy

  Joe’s Fish Market on South Orange Avenue in Newark, New Jersey, United States, has been shut down following the discovery of the sale of “plastic fish” in the market. A notice announcing the closure of the market by the City of Newark Department of Engineering, Division of Code Enforcement, …

    The Board of Directors of Ecobank Transnational Incorporated (ETI) (www.Ecobank.com) has announced the appointment of Patrick Akinwuntan as the Managing Director & Regional Executive – designate of Ecobank Nigeria, subject to applicable regulatory approvals. Prior to this appointment, Patrick was the Group Executive, Consumer Banking responsible for leading the Consumer Banking business across Ecobank’s global network of 40 countries, 36 of which are in Africa. As a seasoned banker with over …

Barely one week after the Senate Committee on Banking, Insurance and other Financial Institutions called on President Muhammadu Buhari to issue an Executive Order on seizure of assets of persons who are indebted to Asset Management Corporation of Nigeria (AMCON), the Chairman of the House of Representatives Committee on Banking and Currency, …

  By Folasade Adeniran/ Mateen Badru The Lagos State Government on Thursday sought the intervention of the Federal Government in enforcing the rule that all haulage operators must have designated parks immediately. The Commissioner for Information and Strategy, Mr Kehinde Bamigbetan, made the assertion in Lagos on the chaotic traffic …

By Taiye Elebiyo-Edeni The Minister of Transportation, Rotimi Amaechi on Wednesday sought public opinions on his performance in the transportation sector. Amaechi disclosed this in a statement issued by his Media Aide, Mr Israel Ibeleme in Abuja. The Minister, however, appreciated President Muhammadu Buhari and the general public for the …

 The European Commission on Wednesday fined Google a record 4.3 billion euros (five billion dollars) for breaching EU competition rules with its Android operating system for smartphones and tablets. The commission accused Google of hindering competition and reinforcing its dominant position among search engines by forcing manufacturers to pre-install its …

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, has stressed the need for robust population management policies. Senator Udoma who was speaking at an interactive session at the ongoing Parliamentary Open Week, which kicked off at the National Assembly in Abuja on Monday, told the lawmakers that …

In a bid to save lives and to contribute greatly to the healthcare of Nigerians, Dana Group partnered with Rotary Club and Sri Sai Vandana Foundation (SSVF) on a blood donation camp aimed at bridging the ever-increasing gap between the demand and supply of blood in Nigeria. The blood shortage …

By Moses Omorogieva  Fidelity Bank Plc on Monday in Lagos donated N50 million to the Lagos State Security Trust Fund (LSSTF) as part of efforts to enhance security around banks. The Executive Director, Lagos and South-West of the bank, Mrs Nneka Onyeali-Ikpe, who presented the cheque to the Executive Secretary …

  Africa’s leading technology entrepreneur, Leo Stan Ekeh has charged the Federal Government to leverage technology in reducing to the barest minimum the growing incidences of corporate debts and usher in an era of unprecedented boom and sanity in the Nigerian economy. He made this assertion while delivering the Guest …

Socio-Economic Rights and Accountability Project (SERAP) has urged the Minister of Finance, Mrs Kemi Adeosun to “without further delay show responsibility and clear the air over the damaging certificate forgery allegations against her and settle the facts of the case once and for all.” The organization said, “Suspicions of certificate …

Hon. Justice B.F.M. Nyako of the Federal High Court Abuja Division has granted an order for Asset Management Corporation of Nigeria (AMCON) to take over Sigma Apartments owned by Sigma Engineering & Construction Limited. Sigma Apartment is promoted by Saidu Samaila Balarabe Sambawa, a former Minister of Sports and Social …

Skye Bank Plc., has flagged off its Money Transfer promo tagged “Skye Money Transfer promo” aimed at rewarding the bank’s loyal customers scheduled to run from the 1st of July till 30th of September, 2018. This notice was contained in a statement from the bank which quoted the Group Head, …

In the build-up towards Final Investment Decision (FID) later in 2018, Nigeria LNG Limited (NLNG) is seeking $7 billion from the global financial markets for the sustainability of its operations and expansion project which will increase its production capacity from 22 Million Tonnes Per Annum (MTPA) to 30 MTPA. NLNG …

By Donald Ugwu   The Federal Government on Tuesday gave the assurance that it would partner premier internet provider, Google, in the Google’s Next Billion users plan intended to ensure greater digital access in Nigeria and around the world. Vice President Yemi Osinbajo gave the assurance during a meeting with …

By Racheal Ishaya/Joy Umeh  The monthly Federation Account Allocation Committee (FAAC) meeting has again ended in a stalemate as Federal and state governments reject the revenue figures submitted by NNPC for May. One of the finance commissioners, who did not want to be named told the News Agency of Nigeria (NAN) …

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has disclosed that the Agency is engaging the Central Bank of Nigeria, CBN, to create a special interest rate for maritime assets acquisition in Nigeria, stating that NIMASA is committed to opening new frontiers for …

    In a landmark ruling on Friday July 6, 2018, the Federal High Court in Abuja, Nigeria has directed the immediate release of two properties located in the United Kingdom belonging to African Billionaire businessman and CEO of the Aiteo Group (www.AiteoGroup.com), Benedict Peters that had been the subject …

  Best half-year in the companies’ history: 1,188,832 cars sold (+3.9%) Strongest quarter of all time (594,528 units, +1.9%) More than 200,000 vehicles were delivered to customers worldwide in June alone (-2.6%) China continues as largest individual market with over 340,000 units sold since the beginning of the year (+16.2%) …

 In its bid to uplift ethical standards in the African e-commerce space and raise the bar in customer satisfaction, e-commerce giants Konga has pioneered the launch of Konga Compliance – compliance@konga.com –  a feedback/compliance mechanism through which customers can directly reach out to the Chairman of the Board and executive …

President of the Senate, Dr. Abubakar Bukola Saraki, on Saturday, commissioned the Obiri Ikwerre – Airport Road in Port Harcourt, Rivers State, constructed by the Governor Nyesom Wike administration. Saraki also laid the foundation stone of the the Second Train of the Indorama Eleme Fertilizer Plant project, in Eleme Local Government Area of Rivers …

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has stated that Nigeria will continue to seek continued technical cooperation and support from the International Maritime Organization (IMO) in order to build up sustainable capacity to be a globally competitive maritime nation contributing to economic development. …

  By Olawunmi Ashafa  The Central Bank of Nigeria (CBN) has renewed the mandate of the board of Skye Bank for an additional two years. The bank said this in a notice signed by its Company Secretary and General Counsel, Mr Babatunde Osibodu, which was sent to the Nigerian Stock …

The Enugu State Internal Revenue Service (ESIRS) has commenced the recovery of over N30 billion non-remitted taxes by companies, agencies and institutions in the state. The Chairman of ESIRS, Mr Emeka Odo, disclosed this in Enugu on Wednesday after sealing off eight offices, which comprised companies, agencies and institutions in …