Business
One of the major developments in the money market this week was the announcement by the Central Bank of Nigeria (CBN), that it would license more banks. The Head, Corporate Communications of the CBN, Mr Ugochukwu Okoroafor, disclosed this during the week. He said that more banks would be licensed provided they met the requirements. [...]
Man with handcuffed | credits: malialitman.wordpress.com A Spanish national and director in a construction company, Hormipresa Nigeria Ltd., Mr. Jose Marin Lopez-Pepe, is in police custody following a suspected move to divert €1.6m meant for the purchase and supply of materials for the execution of a contract awarded to the company by the Imo State [...]
• Identifies N58 billion hidden funds • CBN, banks to close accounts Monday A PERIOD of reckoning is here for all Federal Government’s Ministries, Departments and Agencies ( MDAs) which have been generating revenues and diverting them instead of remitting them into the Federal Government’s Consolidated Revenue Fund ( CRF) Account maintained at the Central [...]
State Commissioners of Finance staged a walk out on the Minister of State for Finance, Dr. Yerima Ngama, on Thursday, over unresolved differences in revenue sharing. The Chairman of the State Commissioners of Finance Forum, Timothy Udah, told journalists that the walkout at the Federation Account Allocation Committee meeting was a unanimous decision. Udah said: [...]
There have been allegations of environmental and human rights abuses against multinationals in the The oil giant says it is disposing of some of its oil blocs to allow for the growth of smaller operators. Chevron Nigeria Limited, CNL, one of the leading multi-national exploration and production operators in the Nigerian oil and gas industry [...]
U.S. oil production grew faster than almost all other major energy players in the world last year, but some analysts believe the industry will not be able to maintain its blistering growth. U.S. tight oil boom takes shine off oil sands Alberta’s landlocked bitumen reserves stand to lose their allure as China’s state-backed oil giants [...]
By Alana Abramson Joe Brock/Reuters The chef of a tugboat that capsized spent more than two days underwater in the submerged vessel by surviving in an airpocket. Okene Harrison is the one of a tug’s 12 person crew aboard the Jascon 4 to survive last month’s tragedy off the coast of Nigeria. He was eventually [...]
LATELY, the Federal Government’s enthusiasm for further national debt accumulation has become more strident, especially after the International Monetary Fund (IMF’s) suggestion that Nigeria is currently under-borrowed, and therefore recommended increasing borrowing threshold of 20 per cent of Gross Domestic Product, to about 56 per cent of GDP. Furthermore, IMF-affiliate, the World Bank, also “promoted” [...]
Fastjet, the African budget airline backed by EasyJet founder Stelios Haji-Ioannou, has agreed to create a low-cost airline operating within Nigeria and across Africa with Nigeria’s Red 1 Airways. Fastjet said on Thursday it had signed a Memorandum of Understanding with Red 1 and that it planned to take a minority shareholding in the entity [...]
StockMarketWire.com – Heritage Oil’s [LON:HOIL] shares rose after it confirmed that production from OML 30 Nigeria had returned to rates of more than 35,000 barrels of oil per day. Heritage says all of the key fields are in production and the temporary factors which caused lower than expected production levels over the first quarter have [...]
By: Bukola Idowu on June 12, 2013 – 1:03am Read more here
By: GEORGE OKOJIE on June 12, 2013 – 1:20am Read more here
Peak oil is the idea that the world has reached or is about to reach maximum production of oil either a few years ago or a few years from now. From there on we are supposedly going to experience significant declines in oil production, which would have devastating impacts on the world economy, which would [...]
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EASYKOBO.COM presents Nigeria’s 1st Free NSE Stock Trials
Aug 9 (Lagos) –Easykobo Finance website welcomes you to the new and improved easykobo.com experience. In December 2010,Easykobo.com was formed during the financial crisis to bring a fresh approach to investing in the Nigeria capital markets, website was upgraded last month. Easykobo.com now features Nigeria’s first free Stock trials simulation with exciting prizes for winners [...]
Telkom SA joins IT Leaders East Africa Summit in September as platinum solution provider
The anticipated 2nd annual IT Leaders East Africa Summit will take place from 5 to 6 September 2012 in Nairobi; in the heart of Kenya’s esteemed capital city. The summit is produced and hosted by international business-to-business conferencing company, Kinetic Events in proud association with the Kenya ICT Board (KICTB) and Kenya Information Technology and [...]
Hennessy Artistry To Release Music Video For Bartender On August 17th
The video of the year is about to drop! Hennessy Cognac announced today, that acclaimed Film Maker, Clarence Peters has delivered the music video for ‘Bartender’, the historic Hennessy Artistry collaboration between Naeto C and M.I – two of Africa’s best Hip hop artistes. The video promises to be very exciting and arguably sets a [...]
CHIBUIKE ROTIMI AMAECHI AND THE RESOURCES OF RIVERS STATE – A SCORE CARD!
The main treatise of this attempt for avoidance of doubt is to examine and x-ray how Gov Chibuike Rotimi Amaechi of Rivers State has diligently and prudently managed the resources of Rivers State or otherwise. This becomes imperative considering the Punch Newspaper publication in its edition of [...]