The Securities and Exchange Commission (SEC) has urged Nigerians to take advantage of the ongoing e-dividend registration to reduce unclaimed dividends profile and increase liquidity in the capital market and economy. The Acting Director-General of SEC, Ms Mary Uduk, made the plea at a Town Hall meeting on e-dividend and contemporary issues in the Nigerian […]
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OPEC mulls oil cut proposals of 500,000 to 1.5 mil b/d: Saudi Energy Minister
Saudi Arabia’s energy minister on Thursday said an OPEC/non-OPEC oil production cut of 1 million b/d “would be adequate,” though the coalition is considering proposals ranging from 500,000 to 1.5 million b/d. But OPEC is not certain to reach a deal, Khalid al-Falih cautioned, saying it was “still an if” that the producer bloc would […]
Nigeria: ‘Second Niger Bridge to be completed in 2022’
A total amount of N33bn has so far been released for the implementation of the second Niger Bridge project. The Managing Director, Nigerian Sovereign Investment Authority, Mr. Uche Orji, gave the figure while speaking shortly after an inspection of the project. Orji visited the site with the Obi of Onitsha, Nnaemeka Achebe, who was accompanied […]
Etuhu not guilty of match-fixing-Swedish court
Former Premier League soccer player Dickson Etuhu was found not guilty by a Swedish court on Thursday of attempting to fix the result of a 2017 league match between IFK Gothenburg and his former club, Stockholm’s AIK. Etuhu was charged with trying to bribe his former AIK team mate, goalkeeper Kenny Stamatopoulos, to fix the […]
Shell reviews deals involving ex-executive accused of bribery
Royal Dutch Shell has concluded that a Nigerian oilfield sale where it suspects an executive took bribes was not linked to a separate court case in which he and Shell face corruption charges over a $1.1 billion offshore acquisition. The Anglo-Dutch company filed a criminal complaint in March against Peter Robinson, a former vice president […]
Moscow asks Italy to drop charges against Russian in Nigeria graft case
The Russian government has asked Italy to be “reasonable” over a Russian citizen caught up in a Nigerian graft case in Milan and drop the charges against him, according to legal documents seen by Reuters. Ednan Tofik ogly Agaev, a former Russian ambassador in Colombia, is charged with international corruption in a case revolving around […]
Proposed strike by oil marketers act of sabotage – IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says strike threat by some oil marketers over lingering fuel subsidy debts is act of sabotage. IPMAN shuts down Anambra It also said in a statement by its National Secretary, Alhaji Danladi Pasali, in Abuja on Wednesday, that the threat was an attempt to disrupt the relative […]
ExxonMobil’s Massive Oil Discovery Keeps Getting Bigger
ExxonMobil (NYSE: XOM) and its partners Hess (NYSE: HES) and China’s CNOOC have found a treasure trove of oil off the shore of Guyana over the past four years. The companies recently unveiled the 10th discovery on their jointly held acreage position, which they now believe contains more than 5 billion barrels of recoverable oil. […]
Investors lose N413billion amid gloomy macro-economic indices
Analysts linked the poor performance to a combination of weak and mixed third quarter earnings, made worse by dwindling macro-economic indices that confirmed a slowdown reflected in the composite indices of the Nigerian Stock Exchange (NSE) for the month. Again, the Nigerian equity market was characterised by weak performances in November, which extended the downtrend […]
CIBN urges Nigerians abroad to invest in home country
The Chartered Institute of Bankers of Nigeria (CIBN) says it is encouraging Nigerians abroad to contribute to the development of the country’s economy, as part of its advocacy programmes. The president of the institut, Uche Olowu, said this while speaking about some of the initiatives of the CIBN during the 53rd Annual Bankers Dinner in […]