Browsing: Business

In compliance with the new regulations, shareholders convened at a ‘Court Ordered Meeting’ held Thursday at the Harbour Point, Victoria Island, Lagos and unanimously approved the adoption of a commercial banking structure

Last month it was reported that the Nigerian National Petroleum Corporation alerted President Goodluck Jonathan to a looming acute fuel shortage if the Federal Government fails to pay N1.13trn subsidy owed it (NNPC).

FirstBank has demonstrated its belief in the cultural importance of the iconic city of Lagos with the pride of place it has assumed on the board and the broad support it has provided for the project.

According to CFI, Zenith Bank was named as the best Commercial Bank in Africa this year “in view of its sterling work at home over the past 22 years, and given the excellent progress it has made in other markets within Africa and further afield.”

Speaking to BusinessDay on the latest development, Ugochukwu Okorafor, CBN’s director of communications maintained that the loan decision was in line with the apex bank’s mandate of maintaining financial system stability.

The Chairman of the Bank, Alhaji Lamis Dikko, said that the right issue comprised 1,551,500,000 ordinary shares of N1.00 each.

The head of security at the NSPMC, Emmanuel Bala, has also been asked to go on compulsory leave by the board of directors of the company. The general manager, management services, Obi Igoban is expected to write him the letter of suspension today.

“At some point in the past, the Board had had cause to seal off NTA, NDDC, PHCN, UBTH, NPDC, Union Bank, First Bank, Mainstreet Bank among others. These corporate citizens have since settled their liabilities to the state government and are operating freely in the state.”

A statement signed by the party’s National Secretary, Mr. Rafiu Salau, noted that the recent justification by the CBN that the high interest rates was to control inflation in the economy is not acceptable.

The workers gave the ultimatum in a communique issued at the end of a joint NUPENG and PENGASSAN National Executive Council meeting in Calabar, Cross River State.

The experts said Nigeria’s dream, tagged Vision 20:2020, may not be realized unless the country demonstrates commitment to embrace reforms capable of accelerating the pace of her economic growth and diversifying her economic base away from oil.

In the statement, PENGASSAN alleged that information reaching the union was that the management of Shell is contemplating circumventing the directive by the Minister of Labour and Productivity by planning that the affected NUPENG officers and members shall only be recalled to their jobs from which they were unjustly disengaged as casual workers.

The Civil Liberties Organisation has condemned the attack, on Friday, on a community in Ogoniland, Eleme, in Rivers State by military men, based on the prompting of Anglo-Dutch oil company, Shell

NIMN, in a letter sent to the Publisher and Chief Executive Officer of Marketing Edge, Mr. John Ajayi, disclosed that it has concluded plans to confer the distinguished award of Marketing Magazine of the Year on the magazine at a simple but professional ceremony on December 5, 2012 at Golden Tulip Hotel (former Durbar Hotel) in Lagos

The Flour Mills of Nigeria Plc is partnering with the Department of Food Technology of the university to establish a Cereal Research Centre, where high quality grains will be produced for consumption and possible export

The hoodlums are said to be fighting over the control of motor parks and other sundry businesses in the area

With this development, Network for Good Governance believes the excruciating scarcity of the product in the area would be reduced, as well as eliminate the incessant breakdown of equipment due to product adulteration

The device, which is specially designed to excite and engage Nigerian youth, will be retailing at an estimated price of N13,500 in the market

In refusing Ogunbambo bail, Justice Akinlade upheld the argument of the prosecution that the accused person could jump bail based on his fraudulent antecedents and dual citizenship

Sabo Yaro, an operative of the EFCC, who is a prosecution witness in the ongoing trial, told the court that the Federal Government in 2009 set up a task force comprising the EFCC, the Central Bank of Nigeria, the State Security Service, the Nigeria Deposit Insurance Corporation and the police to look into the management of some banks and discovered that the accused persons used their positions to debit an account of FinBank to the tune of N18 billion and credited same to Springboard Limited to purchase shares for bank customers