A former Chairman of the Nigerian Bar Association (NBA), Section on Business Law, Olumide Akpata, has been declared the president-elect of the Association. The Chairman of the Electoral Committee of the NBA, Tawo Tawo (SAN), who made the declaration around 12:52 am on Friday says, Akpata scored the highest number of votes cast and satisfied […]
The World Trade Organization has failed to select a caretaker chief due to an impasse among members who must still agree by November on a replacement for outgoing Director-General Roberto Azevedo, the Geneva-based body said on Friday. Reuters reported on Wednesday that the WTO was unlikely to fill a leadership void after Washington’s insistence on […]
OPEC oil output has risen by over 1 million barrels per day (bpd) in July as Saudi Arabia and other Gulf members ended their voluntary extra supply curbs on top of an OPEC-led deal, and other members made limited progress on compliance. The 13-member Organization of the Petroleum Exporting Countries pumped 23.32 million bpd on […]
German multinational conglomerate company, Siemens, has concluded plans to train electricity Distribution Companies and other electricity stakeholders in the country. Siemens in a statement on Thursday stated that 11 DISCOs, Transmission Company of Nigeria (TCN), and regulators would be trained on all the equipment and software being provided in the phase 1. According to the […]
Italian sign, Napoli have signed Super Eagles striker, Victor Osimhen, the club confirmed in a statement on Friday. Italian Serie A side, signed the Eagles striker from Ligue 1 side Lille. “Welcome to Napoli, Victor,” the Napoli tweeted. The move was also confirmed by Lille, who tweeted, “We’d like to extend our heartfelt thanks to […]
By Foster Obi Executive Board of the International Monetary Fund (IMF) approved the new IMF Central Bank Transparency Code (CBT). The development of the CBT follows on the Board’s direction in April 2019 to update the 1999 Monetary and Financial Policies Transparency Code, and bring it in line with the recommendations of the 2017 Joint […]
Anglo-Dutch energy major Royal Dutch Shell posted Thursday a colossal net loss of $18.1 billion (15.4 billion euros) for the second quarter, blaming massive asset writedowns on the coronavirus-hit oil market. The performance, contrasting sharply with profit after tax of $3.0 billion a year earlier, was sparked by a huge $16.8-billion charge on chronic fallout […]
Royal Dutch Shell said on Thursday its second-quarter writedowns include the OPL 245 licence for an offshore oilfield in Nigeria which it holds alongside Eni and which is at the centre of an ongoing corruption court case in Italy. Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of […]
As women in hairnets and anti-coronavirus masks sort through folded nappies coming off a conveyor belt, the head of the Nigerian firm they work for wonders how much longer he can afford to keep them in employment. Around 80% of the materials that go into Lagos-based diaper and sanitary towel manufacturer Wemy’s products are imported. […]
The House of Representatives ad hoc Committee investigating the relocation of petroleum tank farms says it will visit farm sites in the Niger Delta region. The House of Representatives ad hoc Committee investigating the relocation of petroleum tank farms in residential areas says it will visit farm sites in Port Harcourt, Delta and Lagos State. […]