News Reports
Why CBN, NDIC adopted bridge bank option in Skye Bank takeover
Polaris Bank and customers remain insured under NDIC Act.
Oil price up as Trump calls OPEC to lower prices
OPEC and its allies are scheduled to meet on Sunday in Algeria.
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 counters Police, denies $470.5 million, N8 billion hidden in banks
NNPC vows to resist funds subjected to 5% whistle blowing fees.
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]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2018/03/Chevron.jpg?fit=220%2C120&ssl=1){kind=icon}
Oil workers accuse Chevron of unilaterally sacking contract workers
The oil firm on Friday, rejected the allegations.
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.
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.
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]](https://i1.wp.com/media.premiumtimesng.com/wp-content/files/2012/11/trading-floor.jpg?fit=220%2C165&ssl=1)
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.
Nestle to examine “strategic options” for skin health unit
Earlier this year, the company increased its focus on food, drinks and nutritional health products.
Why preferred bidder is yet to takeover 9mobile — NCC
Teleology Technology emerged the preferred bidder in February.
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]](https://i2.wp.com/media.premiumtimesng.com/wp-content/files/2016/12/Coca-Cola.jpg?fit=220%2C147&ssl=1)
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: 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.
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.
Nigerian govt sells stake in security printing firm to CBN for N17 billion
The government will retain only 10.1 per cent equity, after divesting 21 per cent.
AKK Gas Pipeline Project: Consortium battles NNPC over attempt to hijack contract
NNPC wants the Federal Executive Council to approve termination of the Lot 2 contract.
Malabu Scandal: Shell, Eni await fate as Italian court rules on $1.1 billion ‘bribe’
Shell and Eni paid the money through the Nigerian government to controversial businessmen.
‘How global turmoil can help businesses flourish’
The managing director of the Lagos Deep Offshore Logistics Base, LADOL, says the world has dramatically improved, while many think that it’s getting worse.
NLC urges MTN to pay $10bn fine
Ayuba Wabba, NLC president, made the call in a statement on Sunday in Abuja.
After 18-month decline, Nigeria inflation rate rises
Since it exited recession in 2017, the nation has recorded consecutive decline in inflation.