Business
Court orders seizure of N11.2m from Police Fund with CBN
A High Court of the Federal Capital Territory (FCT), Abuja, has issued a garnishee order attaching the money belonging to the Nigerian police in the Central Bank of Nigeria (CBN) for the purpose of settlement of judgment debt incurred by the police in a judgment against the force. According to…
Read More »Court orders Intercontinental hotel over
The Federal High Court in Lagos has ordered Skye Bank Plc to take over Intercontinental Hotel over an alleged debt. It appointed a Senior Advocate of Nigeria (SAN), Mr. Kunle Ogunba, as the hotel’s receiver-manager in order to preserve its assets. The hotel, with 361 rooms, is on Plot 244…
Read More »Oil majors, banks face probe over $62b capital flight
The Senate has begun investigation into activities of some banks for allegedly colluding with some International Oil Companies, IOCs, to defraud Nigeria. This is as over $62,909,716,417 was said to have been taken out of the country between August 2009 and December 2014 in suspicious circumstances. A document obtained, yesterday,…
Read More »Our goal is to be the leading pharmaceutical company in Nigeria- Sanofi
Pharmaceutical giant, Sanofi Consumer Healthcare has said that its goal is to be the leading pharmaceutical company in Nigeria. The company made the statement at the unveiling of IBEX ecopack last Thursday in Ikeja, Lagos. Country Chair, Sanofi Nigeria-Ghana, Abderrahmane Chakibi, said Sanofi stand for quality healthcare that is…
Read More »CBN injects $388m to ease the Naira
The Central Bank of Nigeria (CBN) has released an additional sum of $388.66million to ease pressure on the naira, stimulate business activities and make foreign exchange (Forex) accessible to local operators. Acting Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, disclosed that the sum of $87.885million was for…
Read More »Nigerdock graduates 48 professional trainees
Nigerdock Plc, has graduated 48 professional trainees from its recently re-branded training and development academy upon completion of their on the job training under EGINA FPSO Project. The foremost indigenous and fully equipped academy offers the highest quality and competence needs-based training for its workforce and clients in the sector.…
Read More »World Bank boosts Abakaliki rice production
To further boost food production in Nigeria, the World Bank, under its Growth and Employment (GEM) scheme, has provided business support for the production of Abakaliki rice. Under the arrangement, the World Bank is providing financial support to Ainotrans Energy, producers of Abakaliki rice, to enable it engage the services…
Read More »South East Govs seek solution to power problem
Governors of the five South-east states rose from a meeting in Enugu yesterday with a pledge to find a lasting solution to the problem of power supply in the zone in order to kick-start the economy of the area. The governors also constituted an economic team saddled with the responsibility…
Read More »Rice farmers seek early loans provision for production
The Rice Farmers Association of Nigeria (RIFAN), Kaduna State chapter, has called for early provision of loans to its members to enhance rice production during the 2017 cropping season. The Secretary of the association, Mr Ishaya Audu, made the appeal in an interview with the News Agency of Nigeria (NAN)…
Read More »Lufthansa introduces internet above the clouds
German airline, Lufthansa and Austrian Airline is offering its customers unlimited surfing and streaming in the skies over Europe. The airline said that this will be the reality on many Lufthansa and Austrian Airlines aircraft on many of their short- and medium-haul flights. This means a seamless Internet connectivity from…
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