The House of Representatives Committee on Public Petitions chaired by Rep. Nkem Abonta has given a final 21 days ultimatum to Central Bank of Nigeria (CBN) to declare its position on the case of staff members of Diamond Bank Plc who were sacked without any form of compensation. Abonta stressed that the position of the […]
For over three hours, fire disrupted banking services at the head office of Ecobank Nigeria Ltd. on Ahmadu Bello Way, Lagos, on Tuesday. The News Agency of Nigeria (NAN) correspondents who visited the scene of the fire incident reported that the fire started at 8.30am. A witness, Mr Malachy Okoli told NAN, that the fire […]
Oil dropped on Tuesday and Brent futures were on track for their largest monthly decline in two years after a survey showed OPEC’s output hit a 2018 high in July, reigniting concern about supply swamping demand. The Reuters survey released on Monday showed that OPEC increased production in July by 70,000 barrels per day (bpd) […]
Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oilfield, a senior company official said on Tuesday. The project, one of the country’s largest with an expected production of 180,000 barrels per day, will generate profit at below $50 a barrel, […]
Nigeria has recalled 2.4 million bottles of cough syrup containing codeine after national outrage earlier this year over endemic use of opioids. Nigeria imposed a ban on the production and import of codeine cough syrup earlier this year, though it did not affect products already available in the country. “This is one of the measures […]
The Petroleum Technology Development Fund (PTDF) has concluded plans to introduce scholarship scheme for students in Nigerian Universities. Executive Secretary of PTDF Dr Bello Aliyu Gusau, said this at the 2018/2019 induction of scholars for the overseas Masters of Science (MSc) and Doctors of Philosophy (PhD) scholarship scheme. By this development, shortlisted scholars would be […]
The National Disposable Income ( NDI) in Nigeria declined by 1.52 per cent in 2017, largely due to the continuous decline in the operating surplus which recorded a negative annual growth rate of –2.11, the National Bureau of Statistics (NBS) has reported in the just-released ‘Nigerian Gross Domestic Product Report (Expenditure and Income Approach)-Thisday writes. […]
T-Mobile US named Nokia to supply it with $3.5 billion in next-generation 5G network gear, marking the world’s largest 5G deal so far and solid evidence of a new wireless upgrade cycle starting to take root. T-Mobile, the third biggest U.S. mobile carrier, said on Monday the Nokia deal would help to deliver the first […]
OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found, although losses from Iran and Libya limited the increase. The Organization of the Petroleum Exporting Countries has pumped 32.64 million barrels per […]
Nigeria’s central bank sold yuan at a range of 49-51 naira at its first auction of the Chinese currency, traders said, two months after it agreed a $2.5 billion swap with Beijing. The auction, which traders said saw yuan sold for immediate and for 15-day settlement, is part of efforts to encourage the use of […]