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  • Statoil legal challenge in Multi-Million Dollar Abebe Lawsuit

    Statoil has attacked as ”ill-founded and without merit” claims against it reportedly running into millions of dollars from a Nigerian oil consultant after challenging a legal ruling in a Lagos court this week. The Norwegian state oil...

    • Posted March 15, 2012
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  • States face bankruptcy over N339.9bn foreign debt – RMAFC

    The Revenue Mobilisation Allocation and Fiscal Commission, said on Wednesday that the 36 states of the federation were owing a $2.165bn(about N339.9bn) foreign debt, resulting in their inability to finance developmental projects. Making his submission before the...

    • Posted March 15, 2012
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  • Islamic Development Bank Commits $470 million for Almajiri Education

    The Islamic Development Bank has committed the sum of $ 470 million for the bilingual education of almajiri’s in the country. Dr. Ahmed Mohamed-Ali revealed this during a courtesy call to the Minister of Finance, Ngozi Okonjo...

    • Posted March 15, 2012
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  • Oscar Onyeama Enlightens Lawmakers on the New NSE

    The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Oscar Onyeama, tucked his tail between his legs and appeared before the House Committee on Capital Markets, putting aside his earlier defiance. In his testimony before the...

    • Posted March 15, 2012
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  • Arunma Oteh Clashes with Lawmakers over N 850,000 Food Expenditure Bill

    Tempers flared during the House Committee on Capital Markets headed by Herman Hembe sitting yesterday. The Director General of the Securities and Exchange Commission (SEC), MS. Arunma Oteh was grilled by members of the committee on various...

    • Posted March 15, 2012
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  • Why I Am Leaving Goldman Sachs

    Greg Smith is resigning today as a Goldman Sachs executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa. TODAY is my last day at Goldman Sachs. After...

    • Posted March 14, 2012
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  • Nigerian Breweries Sells N 230 billion Worth of Beer in 2011

    NIGERIAN Breweries Plc Group, comprising Nigerian Breweries Plc (NB Plc) and its recently acquired subsidiaries — Sona Systems Associates Business Management Limited and Life Breweries Company Limited, recorded an operating profit of N56.6 billion for the 2011...

    • Posted March 14, 2012
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  • Number plate: Transport unions seek policy reversal

    Transport unions in the country have resolved to write to the National Assembly for the cancellation of the new driving licence and number plate policy. They also crave for a return to the old order and want...

    • Posted March 14, 2012
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  • Power Breakdown Disrupt Flights in Nigeria

    Airline operations  were shut down last night at the Nnamdi Azikiwe International Airport, Abuja due to  power breakdown which destroyed the air field lighting, as well as runway and taxi lights. The breakdown led to an immediate diversion of...

    • Posted March 14, 2012
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  • Glo Awards $ 6 Million Contract to Ceragon

    Ceragon Networks Ltd. has announced a new $6 million USD contract with Globacom Nigeria (Glo) for Ceragon’s high-capacity wireless backhaul solutions and professional services in Nigeria. Ceragon will manage the end-to-end deployment of its field-proven FibeAir IP-10 and Evolution IP...

    • Posted March 14, 2012
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