Home 10 Business

Business

Presidency says There Is No $25bn NNPC Contract Anywhere

The Presidency has faulted reports that $25bn worth of oil contracts were awarded by the Nigerian National Petroleum Corporation (NNPC) or that $25bn was missing in the NNPC. This was contained in a statement issued on Sunday by the Senior Special Assistant to the Vice President on Media and Publicity, Mr Laolu Akande. On October 12, Vice President Yemi Osinbajo ...

Read More »

NERC fines IBEDC over failure to recover N5.75b from investor

   Following the outcome of an open book review conducted on the financial records of Ibadan Electricity Distribution Company plc (IEDC), the Nigerian Electricity Regulatory Commission (NERC) found the company wanting on two grounds of inappropriate financial transactions and was subsequently fined a sum of N50m. The fine was account of its failure to secure a refund of an interest ...

Read More »

2018 budget goes to NASS this month – budget minister

    The Executive has concluded plans to submit the 2018 budget to the National Assembly before the end of this month. This disclosure was made by the minister of state for Budget and National Planning Hajia Zainab Mohammed at a press briefing to mark the end of the 23rd Nigerian Economic Summit in Abuja on Thursday. Hajia Mohammed said the ...

Read More »

Minister of Budget and National Planning says ERGP Is Entering A New Phase

    The Federal Government says the implementation of its Economic Recovery and Growth Plan is entering a new phase. This is coming from the Minister of Budget and National Planning, Senator Udo Udoma, as global commendations continue to trail the government’s economic plan. He made the disclosure on Tuesday in his address at the 23rd Nigerian Economic Summit in Abuja, ...

Read More »

EFCC docks 2 oil firms, directors over N1.57bn alleged fraud

Two oil service companies and their directors, were, Monday,  arraigned by Economic and Financial Crimes Commission, EFCC, before a Federal High Court sitting in Lagos for allegedly inducing a financial institution to deliver to Danium Energy Services Limited the sum of N1.57billion. Counsel to EFCC,  Rotimi Oyedepo, in the charge,  said the accused on or about October 5, 2016 in ...

Read More »

President Buhari Appoints Ex-CBN Deputy Governor As FERMA Chairman

           President Muhammadu Buhari has approved the appointment of a former Deputy Governor of the Central Bank of Nigeria, Mr Tunde Lemo, as the Chairman of the Federal Roads Maintenance Agency. The Assistant Director of Press in the Office of the Secretary to the Government of the Federation, Mr Mohammed Nakorji, disclosed this in a statement. ...

Read More »

Kachikwu’s Leaked Memo Revives NNPC Scandal

A leaked memo from Nigeria’s Minister of State for Petroleum has shown that irregularities in the state-owned oil giant remain entrenched, despite official vows to root out the “cancer” of graft. Emmanuel Ibe Kachikwu wrote to President Muhammadu Buhari to report on questionable practices in the state-owned Nigerian National Petroleum Corporation (NNPC). Five NNPC contracts, with a total value of $25 ...

Read More »

See Photos Of Stanbic IBTC Bank Staff In School Uniforms To Mark Customer Service Week

One of the commercial banks in Nigeria has painted a classroom setting in secondary schools to mark their customer service week.     These are colourful photos of Stanbic IBTC members of staff setting aside their laborious jobs to mark their customer service week with utmost fun. Some of the workers in Lagos recently dressed as school students and teachers ...

Read More »

Nigerians to buy 50kg bag of rice N6, 000 soon- RIFAN

    Rice Farmers Association of Nigeria, RIFAN, have assured that Nigerians will buy 50 kilogrammes bag of rice at N6, 000 in the next few months. This was disclosed by the National President of RIFAN, Aminu Goronyo, while answering questions from newsmen after a meeting held with the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, and the National ...

Read More »

Adeosun: 2017 budget to be rolled over into 2018

    The Minister of Finance, Mrs. Kemi Adeosun, has revealed Federal Government’s plan to roll over at least 60 per cent of 2017 capital projects to 2018 budget proposal. Adeosun made this known when she appeared before the Senate Joint Committees on Finance and Appropriations. She was accompanied by the Minister for Budget and National Planning, Udoma Udoma, to give ...

Read More »