13 banks involved in Etisalat Nigeria’s $1.2 billion loan may be seeking Federal Government’s intervention to investigate the management. A management source close to the banks told the News Agency of Nigeria (NAN) in Lagos that the banks wanted the government, through the EFCC, to wade into the matter by investigating what the company did […]
An appeal has been sent to the Federal Government to pay the outstanding fuel subsidy claims. The Major Oil Marketers Association of Nigeria (MOMAN) who made the appeal said the idea is for its members to pay back their bank loans. The Executive Secretary of the association, Mr Obafemi Olawore, made the plea in an […]
Co-founder and Chief Executive of Uber Inc, Travis Kalanick, resigned his position Tuesday under mounting pressure from investors over his leadership. Kalanick’s departure caps a tumultuous period for the world’s largest ride-services company, which upended the taxi industry and transportation regulations globally with Kalanick at the helm. “I love Uber more than anything in the […]
About 100 youth is set to be trained in sewing, garment making and management consultant. Joseph Ari, the Director-General, Industrial Training Fund (ITF) said this in Abuja at the opening of the first batch of the “20 Train the Trainees’’ workshop. He said the fund was emulating the Brazilian model which uses mobile workshop to […]
A meeting between the officials of Etisalat Nigeria, the Nigerian Communications Commission, the Central Bank of Nigeria and a consortium of banks has reportedly been scheduled for Wednesday, June 21 to find a resolution to the debt crisis troubling the telecoms company. Competent sources told Channels Television that several meetings were ongoing at the NCC […]
Telecommunications service provider, Etisalat Communications has been taken over by banks it is indebted to. The Banks, led by Access Bank PLC and other local and foreign banks have taken over the telecommunication company effective June 15. The take-over came as a result of a futile effort by Emerging Markets Telecommunications Services, EMTS, promoted by-one […]
The Minister of Finance, Mrs Kemi Adeosun has said that the government will soon release N350 billion, being the first tranche for capital votes implementation of the 2017 budget. Speaking yesterday at the public presentation of 2017 Appropriation Act, Adeosun said the Government had enough cash available to commence the execution of key projects and […]
Following its intervention in the inter-bank Foreign Exchange Market last week to the tune of over $800 million, the Central Bank of Nigeria (CBN) on Monday injected $195 million into the inter-bank foreign exchange market to meet the requests of customers in the various segments of the market. A breakdown of the intervention revealed that […]
The National Sugar Development Council (NSDC) has said that Nigeria’s N2 billion packaged sugar investments are being threatened by smuggling of packaged sugar into the country. Speaking to journalists in Abuja yesterday, the council’s Executive Secretary, Dr. Latif Busari, said importers were flouting the country’s ban on importation of packaged sugar by smuggling them into […]
The Rivers State Waste Management Agency (RIWAMA) has announced the sacking of four Service Providers over poor performances. The Sole Administrator of the Agency, Felix Obuah, who announced the termination of the services of the contractors during a meeting held with Service Providers at the RIWAMA office in Port Harcourt, gave the names of the […]