Business

50 Nigerian Crude Oil Cargoes Stranded In Market Due To COVID-19— NNPC

  The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has disclosed that Nigeria has about 50 cargoes of crude oil that have not found a landing in the market as result of the Coronavirus pandemic. According to NNPC, what this means is that there are no off-takers for them for now due […]


FG Discovers 1Billion Barrels Of Crude Oil In North-East

  The Federal Government today disclosed that one billion barrels of crude oil have been discovered in the troubled North-East region of the country so far. The Federal Government revealed this through the Minister of State for Petroleum Resources, Chief Timipre Sylva while speaking at the closing ceremony of the Nigerian International Petroleum Summit, (NIPS). […]


N50 Charge On POS Transactions Illegal–FG

  The Federal Competition and Consumer Protection Commission (FCCPC) has described the extra N50 charge imposed on transactions carried out on Point of Sale (POS) machines as illegal and must be stopped. The Chief Executive Officer of FCCPC , Babatunde Itukera stated this in a statement made available to journalists yesterday. The N50 charge, he […]


Adegbite Restates FG’s Commitment To Make Ajaokuta Steel Company Commence Operation Soon

  The Minister of Mines and Steel Development, Olamilekan Adegbite, today stated that the Federal Government has resolved that Ajaokuta Steel Company would commence operations soon. He stated this while declaring open the 2nd Nigeria Metallurgical Industry Stakeholders Forum, MISF, 2019 Engagement with the North-West Geopolitical Zone, with the theme, “Repositioning the Metal Sector for […]


Court Convicts Man For Defrauding Access Bank Of N25M

  By Gbenga Ogunbufunmi    A Federal High Court, Lagos, has convicted a man, Jules Suinner, for defrauding Access Bank PLC of the sum of N25 million. Justice Chuka Obiozor who pronounced the man convicted, after founding him guilty of all six counts charge of conspiracy, fraudulent impersonation, being in possession of proceeds of illicit […]


Court Refuses To Discharge Ecobank Staff Over N1M Theft Charge

      Story by Gbenga Ogunbufunmi   A Lagos Chief Magistrate’s Court, Ebute Meta, Lagos  presided over by Chief Magistrate  F. O. Ikobayo (Mrs)  has rejected an application to discharge a staff of Ecobank Plc, Oniegho-Areh Thomson, of charges of conspiracy and stealing of N1 million leveled against him by the police. Magistrate Ikobayo […]


Alleged Diversion Of N5B: Professor, Ex-Lawmaker Narrates How Kwara IGR Was Shared

  Story by Gbenga Ogunbufunmi   The Ilorin Zonal Office of the Economic and Financial Crimes Commission ( EFCC) has uncovered how the twenty four ex lawmakers of the Kwara State House of Assembly, the immediate past Commissioner for Finance, Ademola Banu and some companies allegedly swindled  the Kwara State government about five billion from […]


Victory Park Estate Take Over: AMCON Lawyer,   Receiver /Manager Clears Air On Controversy

    By Gbenga Ogunbufunmi   As controversy continued  to rage over the takeover of Victory Park Estate, Lekki , Lagos by the Asset Management Corporation of Nigeria, (AMCON), as a result of the   indebtedness of N12,966, 510, 191.10,  the law firm representing AMCON,  Matrix -Solicitors  LLP has come out to clear the air on […]


Boeing, Ghana Sign Memorandum Of Understanding For Three 787-9 Dreamliner Jets

  Boeing and the Republic of Ghana have signed Memorandum Of Understanding (MoU) for three 787-9 Dreamliner Jets. The MoU according to Boeing is for the country to re-launch an airline starting with the 787-9 Dreamliner. The parties signed the MoU at the Dubai Air Show for three airplanes with a list price value of […]


Court Sentences Fidelity Bank Staff 1Yr For Stealing Customer’s Money

      Justice Farouk Lawan of the Kano State High Court has sentenced a banker with Fidelity Bank Plc, Anochima Chidozie Christopher, to one year imprisonment for stealing from the bank customer’s account. The Economic and Financial Crimes Commission (EFCC), Kano Zonal Office, had yesterday arraigned the convict Anochima on two-count charges, bordering on […]