Telecoms firm MTN said on Tuesday that it was continuing to hold talks with Nigerian officials to find a mutually acceptable solution to a dispute over the alleged transfer of $8.1 billion of funds. “Shareholders are advised to continue to exercise caution when dealing in the company’s securities until a further announcement is made,” MTN […]
Author: Isaac Umunna
Nigerian Energy Tycoon Kola Karim Acquires 51% Stake in EPC Company
Shoreline Energy International, an industrial conglomerate owned by Nigerian tycoon Kola Karim, has acquired a 51% stake in Entrepose DBN, a leading provider of construction and mechanical services to IOCs, NOCs and junior oil companies in Nigeria. According to a press release issued by Entrepose, the transaction will help accelerate the development of Entrepose DBN […]
Nigeria issues first gold refining licence
The minister of budget and national planning, Udo Udoma, Monday, said the Nigerian government has issued the first gold refining licence to improve the country’s economy. Udoma disclosed this while speaking at the 24th Nigerian Economic Summit (NES24) in Abuja. “Today, I am happy to inform us that the first gold refining licence has been […]
Xenophobia: 9 Nigerian-owned shops burnt in South Africa
As Xenophobia on Sunday reared its ugly head again in South Africa, Nigerians have lost more than nine shops to arsonists in Hillbrow, central Johannesburg. The Publicity Secretary of Nigerian Union in South Africa, Mr Habib Miller, told the News Agency of Nigeria (NAN) on the telephone from Pretoria on Monday that South Africans allegedly […]
Crude oil futures rise as Khashoggi saga continues; ICE Brent up at $79.98/b
Crude oil futures crept higher in European morning trading Monday, as the market weighed the continuing fall-out of the disappearance of Saudi journalist Jamal Khashoggi on relations between Saudi Arabia, the US and the countries’ other trading partners. At 1108 GMT, the December ICE Brent crude futures contract was up 20 cents at $79.98/b, while […]
Ikeja Electric unveils ultra-modern undertaking office in Ikeja
….Plans to provide 24 hours supply to GRA residents By Foster Obi With a focus to progressively improve operations and deliver customer-centric services, Nigeria’s leading Electricity Distribution Company, Ikeja Electric Plc (IE), has unveiled an ultra-modern PTC Undertaking office in GRA Ikeja to provide customers with improved access to quality service. The newly unveiled office […]
Nuclear energy will boost Nigeria’s economy– IAEA
The International Atomic Energy Agency (IAEA) said Nigeria’s economy will develop on completion of its nuclear energy power plant, which will provide at least 4,000 megawatts (Mw) in the country. The firm, based in United States, in a study said the Nuclear Energy Plant (NPP), which will be located in the eastern and other parts […]
Buhari to visit Seme Border on Tuesday
Nigeria’s President Muhammadu Buhari will Tuesday perform the official hand over of the new Economic Community of West African States (ECOWAS) Border Posts at Seme-Krake and Neope-Akanu in Badagry to his Republic of Benin counterpart, Patrice Talon. This was disclosed on Sunday in a statement by the Chief Press Secretary to Lagos State governor Habib […]
PFAs invest N1.49 trn in Treasury Bills
The Pension Fund Administrators (PFAs) in the country have invested N1.49 trillion in Treasury Bills. The monthly report released by the National Pension Commission (PenCom) on Sunday in Abuja by Mr Peter Aghahowa, the commission’s spokesman made the disclosure. The commission also disclosed that the PFAs invested N4.22 trillion in Federal Government’s bonds, Federal Mortgage […]
Buhari sends Onyeama as special envoy to Mali
President Muhammadu Buhari, as Chairman, ECOWAS Authority of Heads of State and Government, has sent Foreign Minister, Geoffrey Onyeama as a Special Envoy to Bamako Mali to discuss the political situation in the county. Onyeama was accompanied by President of the ECOWAS Commission Jean -Claude Kassi Brou. Ms Sarah Sanda, the Special Assistant, Media to […]