News Reports

LADOL Processing Zone

Untold story of the titanic battle between LADOL, SAMSUNG over local content

LADOL alleges fraud, and violation of Nigerian local content laws

NCC Headquarters used to illustrate the story.

NCC to penalise vendors of non-approved communication equipment

An official says the action will ensure the safety of the public from dangerous equipment and facilitate quality service.

Trump

Oil prices at 4-year high after OPEC rebuffs Trump

Benchmark Brent crude LCOc1 hit its highest since November 2014 at 80.94 dollars per barrel.

Oil could rise to $100 by 2019 as global markets tighten – Merchants

The merchants made the prediction on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore.

Babatunde Fowler, FIRS Chairman

FIRS says N12.7bn recovered from billionaire tax evaders in one month

The official says the FIRS would continue to implement initiatives that would drive tax compliance and generate revenue.

Oil rig

Oil price rises as markets tighten ahead of Iran sanctions

Many analysts expect the sanctions will result in a drop of more than one million bpd of crude exports.

Skye Bank

Nigerians react after CBN takeover of Skye Bank

The Central Bank of Nigeria revoked the license of the bank on Friday.

Skye Bank

Why CBN, NDIC adopted bridge bank option in Skye Bank takeover

Polaris Bank and customers remain insured under NDIC Act.

Skye Bank

NSE suspends trading on Skye Bank shares

CBN earlier revoked the banking licence of the bank.

Oil rig

Oil price up as Trump calls OPEC to lower prices

OPEC and its allies are scheduled to meet on Sunday in Algeria.

Skye Bank

Depositor’s Guide: Ten quick things to know about Skye Bank takeover

Effective Monday, all asset and liabilities of Skye Bank have been taken over by the new bridge bank, Polaris.

NNPC Headquarters, Abuja

NNPC counters Police, denies $470.5 million, N8 billion hidden in banks

NNPC vows to resist funds subjected to 5% whistle blowing fees.

Skye Bank

Nigeria’s Central Bank takes over Skye Bank

The CBN has approved a change of name for the distressed bank.

CHEVRON logo used to illustrate the story. [Photo credit: Guardian Nigeria]

Oil workers accuse Chevron of unilaterally sacking contract workers

The oil firm on Friday, rejected the allegations.

ExxonMobil used to illustrate the story

Exxon, Chevron, others to join rivals in climate initiatives – Sources

The initiative last year created a $1 billion fund to develop technologies to reduce emissions of greenhouse gasses.

The Director General, Bureau of Public Enterprises (BPE), Alex Okoh

FG releases N1.05 billion to settle entitlements of defunct PHCN staff

The beneficiaries emerged after BPE conducted a verification in the six geo-political zones in 2016.

Yewande Sadiku

NIPC reports 42 investments worth $45 billion from January to June

The report says Rivers is the biggest beneficiary of the investment with 35 per cent in favour of the state.

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

Market indicators appreciate by 0.33% on NSE

The market capitalisation inched N39 billion to close at N11.858 trillion against N11.819 trillion recorded on Wednesday.

A Nestle factory

Nestle to examine “strategic options” for skin health unit

Earlier this year, the company increased its focus on food, drinks and nutritional health products.

9mobile

Why preferred bidder is yet to takeover 9mobile — NCC

Teleology Technology emerged the preferred bidder in February.

NNPC TOWERS

Group asks govt to intervene in fraudulent liquidation of Nigerian company by expatriates

The group says two Nigerian courts have ruled for the cessation of the liquidation.

Coca Cola [Photo credit: Wall Street Journal]

Coca-Cola considers buying off Nigerian firm

An official says the company is working with the Lagos government to remove waste from its waterways.

MTN

MTN: CBN promises ‘equitable resolution’ over sanctions imposed on telecom firm, banks

The central bank had on August 29 ordered MTN and the four banks to bring $8.1 billion back into Nigeria.

Nigerian Aviation Minister, Hadi Sirika at the launch of Nigeria Air

Why new national carrier, Nigeria Air, was suspended indefinitely

The airline was planned to commence operation at the end of the year.

Keystone Bank sued for alleged non-remittance of $17 million to TSA

The hearing of the case has been fixed for November 6.