News Reports

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:]

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.


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]

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.

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.

Central Bank of Nigeria (CBN)

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.

LADOL Managing Director, Amy Jadesimi

‘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.


Nigerian Economic Summit Group chairman resigns

An acting chairman has been named.

MTN Nigeria office

NLC urges MTN to pay $10bn fine

Ayuba Wabba, NLC president, made the call in a statement on Sunday in Abuja.

A market used to illustrate the story

After 18-month decline, Nigeria inflation rate rises

Since it exited recession in 2017, the nation has recorded consecutive decline in inflation.


Trading on NSE closes on positive note, market indices up 0.95%

The All-Share Index rose by 306.36 points to close at 32,327.59 compared to the 32,022.23 posted on Thursday.

Kenya on map

IMF pledges support to Kenya as $990mn standby deal expires

Kenya had secured a six-month extension in March on the $989.8 million.

Amina Mohammed, UN Deputy Secretary General

Buhari’s ex-minister Amina Mohammed expresses concern over Nigeria’s debt profile

The Paris Club of creditors in 2005 granted Nigeria debt forgiveness to the tune of US$18 billion, after Nigeria agreed to immediately pay the US$12 billion balance of its debt to the Club


Dangote Cement, Nestle lead losers’ chart on NSE

Seplat led the gainers’ table during the day, gaining N3.70 to close at N606.70 per share.


PenCom recovers N14.76 billion outstanding contributions, penalties

The figure comprises N7.53 billion principal contributions and N7.23 billion as penalties respectively.

Chairman of the Federation Account Allocation Committee (FAAC) and Minister of Finance, Mrs. Kemi Adeosun; Director of Home Finance in the Federal Ministry of Finance, Mrs. Olubunmi Siyanbola and the Director of Revenue, Budget Office of the Federation, Mr. Sulaiman Nasidi Tahir, during the FAAC meeting held at the Auditorium of the Federal Ministry of Finance on Thursday, 30th August, 2018.

FAAC disburses N3.946trn in 6 months – NEITI

Delta State received the highest allocation of N101.19 billion in the six-month followed by Akwa Ibom with N100.2 billion.