The shareholders’ funds of Union Bank of Nigeria (UBN) dipped by over N46 million following fines paid by the bank in 2015 for contravening CBN rules, its annual report showed. The figure contained in the bank’s annual reports and obtained by the News Agency of Nigeria (NAN) in Lagos on Friday showed that the bank […]
Author: Isaac Umunna
Reps de-list petroleum products from price control
The House of Representatives on Thursday de-listed petroleum products from list of commodities being regulated by Federal Government as enshrined in the Price Control Act. The House took the decision after considering the recommendations of its committee, which studied the bill to amend the Price Control Act, to provide for concessions and waivers, stiffer penalties […]
Nigeria ranks 16th in global cybercrimes
Nigeria has been ranked 16th in global cybercrimes. Check Point Software Technologies Ltd, a software monitoring group, made the announcement in its latest quarterly ranking. Mr Rick Rogers, the Area Manager of the group for East and West Africa, stated this in the 2016 first quarterly analysis of the global threat index released on Friday. He […]
FG suspends retrenchment by banks
The Nigerian Government on Friday directed all banks operating in the country to suspend staff retrenchment. The directed was announced in a statement issued in Abuja by Minister of Labour and Employment, Sen. Dr. Chris Nwabueze Ngige (OON). The statement reads: “Following the high spate of petitions and complaints from stakeholders in the Banking, Insurance […]
Apple services resume after hours of outage
Some Apple services including App Store resumed services after more than two hours outage, Apple Inc said Thursday. According to a Reuters report, the company said some other services related to iCloud and the iPhone maker’s Photos application continued to remain unavailable for some users. The issues appear to have started just before 4 p.m. […]
FG unfolds plans for comprehensive development of border communities
The Executive Secretary, Border Communities Development Agency (BCDA), Mr Numoipre Wills, has said that the agency would come up with a comprehensive plan to develop the 2, 500 border communities in the country. Wills said in an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja, that the budget of the agency […]
Nigeria lost huge revenue to tax exemption by past administrations —Dogara
Mayowa Okekale, Abuja Speaker of the House of Representatives, Yakubu Dogara, has expressed support for the decision of the federal government to suspend the issuance of Negotiable Duty Credit Certificate, saying the scheme was abused to the detriment of the Nigerian people. The speaker reiterated his support for Export Expansion Grant, EEG, as one of […]
Entries call for the 2016 Etisalat Prize for Literature
Few months after the Democratic Republic of Congo’s Fiston Mwanza Mujila won the 2015 edition of the pan African Prize, Etisalat prize for literature with his first novel, Tram 83, entries have been called for participation in this year’s edition. Chief Executive Officer, Etisalat Nigeria, Matthew Willsher, who made this disclosure on Wednesday at a […]
Volkswagen announces a decline in US sales
German auto company, Volkswagen has announced a decline in its vehicle sales in the U.S. market. The company said on Wednesday that the sales figure in the first five months of 2016 dropped by 13% compared with the figures of 2015 within the same period. In the first five months of 2016, Volkswagen sold 125,205 vehicles, down […]
Whitney Houston Items up for grab
More than 100 items belonging to the late American music star, Whitney Houston, are up for grab, more than four years after her death. Her estate, according to media report is putting the items of the late superstar on the auction block. The items includes Houston awards, international passport, script from waiting to exhale and […]