An Italian court in Milan on Monday postponed till May 14 the start of a trial of executives of Royal Dutch Shell, ENI and former Nigerian oil minister, Dan Etete, over alleged bribery in connection with the sale of an oil block owned by Malabu Oil. The case involves the 2011 purchase by Eni and […]
Governor Godwin Emefiele said last month the Central Bank of Nigeria may reduce its benchmark from a record-high 14 percent before July if inflation drops closer to single digits. But with fuel costs surging and government spending swelling before next year’s election, he may struggle to reach that threshold at a time when the pace […]
President, Islamic Development Bank (IDB), Bandar Hajjar said Monday that the organization will soon launch a $2.5 billion sukuk bond. At a briefing at the London Stock Exchange, the President said the IDB’s funding plan for first half 2018 was the largest since the bank’s inception and the sukuk’s proceeds would support spending on infrastructure, […]
Nigeria is facing its worst Lassa fever outbreak on record, with 72 people confirmed to be dead from the virus and 317 infected, according to the World Health Organization. A further 764 are suspected to be infected, and 2,845 contacts have been identified. On average, Lassa fever is deadly in 1% of all individuals infected, […]
Small and Medium Enterprises (SME’S) in Africa’s infrastructure sector are to enjoy increased capacity even as African Guarantee Fund (AGF) said Friday that it had entered into a re- guarantee transaction of an amount of up to $74 million with GuarantCo, an arm of Private Infrastructure Development Group (PIDG) to increase its guarantee capacity for […]
Another fire outbreak yesterday gutted an electric power station at Afaha Ubeh in the outskirt of Uyo, Akwa Ibom State, same day that fire razed over 600 shops in Bida market, Niger state. Eye Witness account said operatives of the state fire service were not seen around the scene of the incident, as the facility […]
By Foster Obi Delay in the release of the 2017 financial result of Oando Plc, has become inevitable following plans by the Financial Reporting Council of Nigeria (FRCN) to review the results before publication. The FRCN is believed to have decided to conduct a more detailed review of the indigenous oil and gas major’s audited […]
The Federal Mortgage Bank of Nigeria (FMBN) has doled out a total of N20.24 billion in mortgages in the last two and a half years to enable Nigerians to buy their own homes under the National Housing Fund (NHF). This was disclosed Thursday at the inauguration of the governing boards of the Federal Housing Authority […]
By Foster Obi Bida market in Niger state was Thursday night attacked by fire which consumed shops put at over 600. The fire, which started at about 8.30 p.m. destroyed goods and other property in the old market. Eye witness’s account said firemen from the Bida Fire Service and Federal Polytechnic Fire Service could not […]
A letter written by Mahatma Gandhi, in which he discusses the nature of existence of Jesus Christ, is up for sale and could be purchased for USD 50,000 reports India Press Trust. The letter dated April 6, 1926 was written by Mahatma Gandhi from his Sabarmati Ashram in India.Typed in faint ink and with a […]