The Naira on Wednesday appreciated further against the dollar at the parallel market. The News Agency of Nigeria (NAN) reports that the Nigerian currency traded between N340 and N341 to a dollar at the close of trading, from N345 it exchanged on Monday. The Pound Sterling and the Euro also traded between N480 and N488 […]
Author: Isaac Umunna
Senate throws out anti-social media bill The Senate, yesterday, bowed to pressure from Nigerians and threw out the controversial Frivolous Petitions Bill, otherwise known as anti-social media bill. Following the presentation of the report on the bill by the Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, Senator David Umaru (APC, Niger East), […]
UBA appoints 5 Executive Directors to Group Board
United Bank for Africa (UBA) Plc, a leading pan-African banking group with operations in 19 countries on the continent and presence in London, Paris and New York, on Tuesday announced the appointment of five executive directors of the UBA Group. They are Ayo Liadi, Oliver Alawuba, Ibrahim Puri, Uche Ike and Chuks Nweke. The […]
NLC shuns court order, as strike begins today
Talks between the federal government and the Ayuba Wabba-led Nigeria Labour Congress (NLC) have ended in a deadlock. The NLC delegation to the meeting, led by its President, Mr Ayuba Wabba, walked out of the negotiation following the inability of the two parties to reach an agreement. Mr Wabba thereafter told journalists that the strike […]
NLC faction, oil and electricity workers back out of strike
The leadership crisis rocking the Nigeria Labour Congress (NLC) yesterday manifested itself as the Joe Ajaero faction insisted that it would not join the Comrade Ayuba Wabba-led NLC to embark on the strike planned for tomorrow. Also, the federal government has insisted that there is no option to the increment of the pump price […]
oil price push to 6-month highs
Oil prices hit six-month highs on Monday on worries about supply outages in Nigeria and Venezuela and as long-time bear Goldman Sachs sounded more positive on the market, although a stockpile build at the US storage hub for crude futures pared gains. Crude futures have rallied for most of the past two weeks from […]
pipeline vandalism: Nigeria loses 800,000 barrels daily
Minister of State for Petroleum Resources, Dr Ibe Kachikwu, on Monday said Nigeria’s crude oil production had declined from 2.2 million barrels per day to 1.4 million barrels per day due to pipeline vandalism. This, he said, translated to loss of 800,000 barrels of oil by the country daily. The minister made this known at […]
Back in the saddle, Okonkwo resumes as Fidelity Bank MD
The Managing Director/CEO of Fidelity Bank, Mr. Nnamdi Okonkwo, has returned to his position after satisfactorily answering the questions of the Economic and Financial Crimes Commission (EFCC). Okonkwo and some other officials of the bank had been recently invited the anti-graft body to answer question bordering on the alleged lodgement of $115 million (N23 billion) […]
Jaiz gets licence to operate as a national bank
Nigeria’s first Islamic banking institution, Jaiz Bank, has been granted license to operate as a national bank. Chairman of the board of directors of the bank, Alhaji Umaru Abdul-Muttalab, who spoke at a meeting in Abuja, said that the bank plans to spread its branches across the 36 states of the federation and the Federal […]
Hyundai secures Chief designer to turbo-charge Genesis luxury drive
South Korean auto giant, Hyundai Motor co has secured the services of luxury marquee’s exterior designer, Sangyup Lee. This is coming after poaching Bently’s design chief last year, says a Reuters report. According to the report, Hyundai issued a statement saying Sangyup Lee will start work next month as its head of design. Lee […]