Business

Oando loses oil rigs over N4.7bn debt

A Federal High Court sitting in Port Harcourt, Rivers State, has ordered the arrest and detention of three crude oil drilling rigs belonging to Oando Energy Services Limited (also known as OES Energy Services Limited) over debts of $15,399,524.84 (equivalent of N4.7 billion) and N14,169,164.80. The arrest and detention order for the three drilling rigs […]

Business

Gencos record revenue shortfall in May

Nigeria’s power generation companies (Gencos) recorded about N31.7 billion revenue shortfall in the month of May due to the failure of Discos to pay commesurate invoices and shortfall in the N701 billion Federal Government intervention fund by Central Bank of Nigeria. The Nigerian Bulk Electricity Trading Company (NBET) statistics reveals that Gencos invoices sent to […]

Business

Starcom Media rebrands to Media Seal

Nigeria’s foremost media buying agency, Starcom Media has rebranded to Media Seal. Ayo Oluwatosin, Group Managing Director of Rosabel, said in a statement that the decision to rebrand the company was part of a larger strategic goal aimed at repositioning the business for sustained market leadership in the unfolding new global play. “Over the past […]

Business

Uber raises fares amid legal tangles

Uber Technologies Inc UBER.UL said it raised its Hong Kong minimum fares on Monday by as much as 80 percent following a review. The San Francisco-based technology company, which recently suspended its services for the second time in the neighboring Chinese city of Macau, told Reuters the price rises would benefit drivers as they pocketed […]

Business

Access Bank introduces REAL

Access Bank has introduced a loyalty solution tagged REAL -Rewarding Every Act of Loyalty. The solution, according to a statement from the bank, was introduced to reward existing bank customers for their support over the years. “REAL is a pan-banking program offering multiple ways to earn points through the usage of the bank’s transactional platforms […]

Business

Tin Can customs generates N1.2bn daily

Tin Can Island Comptroller, Yusuf Bashar, at the weekend, disclosed that his command generates an average of N1.2 billion, daily to the Federal Government coffers. Bashar made this disclosure during the inauguration/swearing in of the Tin Can Island chapter of the International Freight Forwarders Association (IFFA) and the official launch of the association’s  operational vehicle. […]