An attack on a pipeline at an oilfield operated by Nigerian Agip Oil Company (NAOC), at Ogbembiri in Southern Ijaw Area of Bayelsa has compelled the oil firm to shut production on the line. The oil firm has subsequently deferred its production to the tune of 1,000 barrels of oil equivalent of its equity […]
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 […]
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 […]
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 […]
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) […]
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 […]
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 […]
The Minister of State for Petroleum, Mr Ibe Kachikwu says the lifting of petrol price should not be the basis for which government will provide palliatives to its citizens. Mr Kachikwu was speaking on Channels Television’s Sunrise Daily on Thursday, where he defended the change in pump price for Premium Motor Spirit, PMS by […]
The Central Bank of Nigeria (CBN) yesterday cautioned bank customers against falling prey to the activities of unscrupulous individuals who demand for the details of their debit (ATM) cards as well as their Personal Identification Numbers (PIN), under the pretext of being Customer Care representatives of the CBN. “Those messages and calls are intended […]
A former corporate broker at Deutsche Bank, Martyn Dodgson has been sentenced to a four-and-half year in prison for UK insider trading. Dodgson, 44, once advised the UK government on its bailed-out banks. Judge Pegden of London’s Southwark Crown Court who gave the sentence on Thursday said Dodgson had committed “a gross breach of […]