The Central Bank of Nigeria on Friday introduced a Clean Note Policy to put an end to the regime of mutilated naira notes. A mutilated banknote refers to a poor quality banknote that requires a special examination to determine its value. The note could be partially or permanently damaged by fire, water, dye, insects, rodents […]
Nigeria’s power generation has been significantly reduced due to a gas pipeline leak that forced the shutdown of four power stations, the nation’s grid operator said on Friday. The closure of the Egbin, Omotosho, Olorunsogo and Paras power stations highlights the precarious electricity supply in a nation where power cuts are endemic. The Transmission Company […]
Two Royal Dutch Shell oil workers were kidnapped, and their police escorts killed, in Nigeria’s restive Delta region, a police spokesman said on Friday. The workers were in Rivers State, returning from an official trip to Bayelsa State, when they were attacked, according to a Reuters report. It quoted a spokesman for the Shell Petroleum […]
The Chairman and founder of Heirs Holdings, Tony Elumelu, has said that an average business concern in Nigeria pays 48 taxes. He noted that with this trend Nigeria would be unable to keep its investors and entrepreneurs if the issue of multiple taxation was not abolished. He said this in Abuja on Thursday while delivering […]
The Nigerian Army has named S. Ibrahim as the new director-general of the National Youth Service Corps (NYSC). The new posting was announced on Friday. Mr Ibrahim, a brigadier general, is from the Army University, Biu, in Borno State. A statement signed by the army spokesperson, Sagir Musa, said Mr Ibrahim takes over from S.Z. […]
The Central Bank of Nigeria (CBN) has decried low deposit mobilisation by microfinance banks (MFBs) in the country. The Director, Other Financial Institution Supervision Department (OFIS), CBN, Mrs. Agnes Martins, said this Thursday at the ongoing 27th seminar for financial journalists in Gombe State. Martins stressed the importance of microfinance banks in poverty alleviation, in […]
The Benin Branch of the Nigeria Bar Association (NBA), on Thursday, barred its members from handling cases of kidnapping. The branch made this known in a communiqué signed by its Chairman, Mr Collins Ogiegbaen, and Secretary, Mr Pius Oiwoh, on Thursday in Benin. The association said it is withdrawing its services from all suspects whose […]
No fewer than five oil wells, belonging to Chevron Nigeria Limited, in some communities in Ilaje Local Government Area of Ondo State, caught fire on Thursday. A source disclosed that the fire started in the Ajegunle Ikorigho community and spread to communities like Ojumole, which is located in Ikorigho land in the local government. According […]
The Economic and Financial Crimes Commission, EFCC, Ibadan Zonal Office, on Thursday said it arrested 32 suspected internet fraudsters, better known as “Yahoo-Yahoo Boys.” The suspects were arrested at Liberty Estate, Laderin area of Abeokuta, the Ogun State capital, in an early morning sting operation, the commission said. “Ranging between the ages of 15 and […]
Two Chinese nationals, Sun Zhixin and Wang Quing Hu, have been kidnapped in Ebonyi State, South-east Nigeria. The two men are workers of Tongyi Construction Company. They were working on a road project in Ohaozara Local Government Area of Ebonyi State when they were forcefully whisked away by armed gunmen. They were taken off the […]