The United States Government on Thursday announced that it had in the last two years spent $500 million (about N152 billion) on humanitarian assistance to communities in Northeastern Nigeria, Cameroon, Niger and Chad. Mr Natan Holt, the U.S. Deputy Director at the Office of West African Affairs, Bureau of African Affairs, in Washington, D.C. made […]
Shareholders at the 48th Annual General Meeting of Union Bank Plc plans to launch a rights issue in the second quarter of 2017 to raise up to Fifty Billion Naira (N50 billion) in Tier 1 capital as it looks to accelerate business growth and position as a leading commercial bank in Nigeria. The additional funding […]
The Managing Director, Niger Delta Power Holding Company (NDPHC), Mr Chiedu Ugbo, has said that a $5.6 billion (about N1.76 trillion) sales offer has been made for the 10 National Integrated Power Plants (NIPP) plants built with $4bn (about N1.25trn) investment. Ugbo said in an that the company jointly owned by the three tiers of […]
About nine electricity generation permits to add 1,653 megawatts (MW) to the grid could be revoked by the Nigerian Electricity Regulatory Commission (NERC) for failing to be put to use or were not renewed after 10 years of their issuance, THISDAY has reported. THISDAY gathered from the list of the generation and distribution permits issued […]
Securities and Exchange Commission (SEC) on Wednesday said the June 30, 2017 deadline for cessation of dividend warrants in Nigeria remains sacrosanct, urging shareholders to take advantage of the ongoing free registration for e-dividend. The Commission also said the Nigerian capital market will commence the full and compulsory implementation of the Direct Cash Settlement (DCS) […]
The Central Bank of Nigeria (CBN) has released an additional sum of $388.66million to ease pressure on the naira, stimulate business activities and make foreign exchange (Forex) accessible to local operators. Acting Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, disclosed that the sum of $87.885million was for spot sales, while $300.8 million […]
The Federal Government has launched a 10-year Agricultural Sector Food Security and Nutrition Strategy to combat malnutrition and food insecurity in Nigeria. At the Launch of the document in Abuja on Tuesday, Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, expressed regrets over the alarmingly poor level of food safety in the country. […]
Largely unheralded for a long time, Ponzi schemes came to the consciousness of the entire nation in 2016. With the descent of the Nigerian economy into its first full depression in over two decades, many embraced the rise of these money-spinning schemes as a way out. At the height of its fame, Mavrodi Mundial Movement […]
Nigerdock Plc, has graduated 48 professional trainees from its recently re-branded training and development academy upon completion of their on the job training under EGINA FPSO Project. The foremost indigenous and fully equipped academy offers the highest quality and competence needs-based training for its workforce and clients in the sector. The Nigerdock academy, which is […]
Alhaji Muneer Bankole, Chief Executive Officer, Medview Airline Plc, on Tuesday said the airline would begin flight operations on the Lagos-Dubai route on July 4 as he also announced the acquisition of two additional planes by the airline. The airline chief said Medview would soon take delivery of two aircraft, a B777 and a B737-800, […]