Nigerian energy group Aiteo has reopened the oil-exporting Nembe Creek Trunk Line, the company said in a statement, after closing it on April 21 due to a fire. The pipeline is one of two that exports Bonny Light crude oil. Royal Dutch Shell, which operates the export terminal, declared force majeure last week on the […]
The Benin Branch of the Nigeria Bar Association (NBA), on Thursday, barred its members from handling cases of kidnapping. The branch made this known in a communiqué signed by its Chairman, Mr Collins Ogiegbaen, and Secretary, Mr Pius Oiwoh, on Thursday in Benin. The association said it is withdrawing its services from all suspects whose […]
By Foster Obi Minister of Transportation, Rotimi Chibuike Ameachi has lauded the Management of the Nigerian Ports Authority (NPA) at the establishment of an Ultra-Modern Marine and Harbour Simulation Centre at Dockyard Apapa. A press statement signed by Engr. A. A. Jatto, NPA’s General Manager, Corporate & Strategic Communications said while addressing stakeholders at the […]
Subscribers to mobile telecommunications services in Nigeria spent about N767.23bn on airtime purchase from November 2018 to January 2019, investigations have revealed. This figure is based on the number of subscribers in the three months under review, which was obtained from the Nigerian Communications Commission, and the industry’s Average Revenue Per User provided by network […]
Four people have been rescued from a building that collapses on Lagos Island on Monday evening. When The PUNCH visited the site of the incident at Egerton Square in Oke-Arin area of Lagos Island, the four men trapped under the rubble had been rescued and taken to the hospital. According to chairman of the Community […]
Yields on Nigeria’s most liquid 10-year bond fell 40 basis point to 13.9 percent on Thursday as uncertainty eases for foreign investors following the conclusion of national elections, traders said. Yields on the benchmark 2028 paper, which is most traded, have been falling with investors locking in attractive rates. The bond dropped to 14.3 percent […]
Foreign investment inflow into the Nigeria oil and gas industry declined sharply by 59.7 per cent to $133.51 million in 2018, compared to $331.36 million recorded in 2017, according to data obtained from the National Bureau of Statistics, NBS. Using current exchange rate of N306.75 to a dollar, $133.51 million foreign capital inflow into the […]
Former champions Chelsea will face Malmo in the last 32 of the Europa League while Arsenal will lock horns again with BATE Borisov. The two sides met in the Europa League last season, the Gunners hammering the Belarussian side 6-0 at the Emirates. Five-time champions Sevilla, currently second in La Liga, face a difficult tie […]
The board of Diamond Bank Plc on Monday finally announced its merger with Access Bank Plc expected to be completed in first half of 2019. The News Agency of Nigeria (NAN) reports that both banks recently denied media reports of any merger. Mr Uzoma Dozie, the bank’s Chief Executive Officer, said in Lagos the board […]
The Director, Payment System Management Department, Central Bank of Nigeria, Mr. Sam Okojere, has urged banks to enhance their reporting on fraud related cases in accordance to the CBN’s directive. According to him, failure to do so would no longer be condoned. Okojere, who also doubles as the Chairman of the Nigerian Electronic Fraud Forum […]