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  • Hembe Collected Money from SEC for Phantom Trip

    The Economic and Financial Crimes Commission (EFCC) have obtained confessions from former Chairman of the House Committee on Capital Market and Other Institutions Herman Hembe and his erstwhile deputy, Chris Azubogu. The lawmakers have revealed that whilst they...

    • Posted March 27, 2012
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  • Nigeria gives BA, Virgin Atlantic ultimatum on fares

    Nigeria has given airlines British Airways (BA) and Virgin Atlantic 30 days to lower fares or face a ban from flying to the West African nation, its aviation minister said on Monday. Britain responded by saying it...

    • Posted March 27, 2012
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  • Nigeria Appoints Manitoba of Canda as Network Operator for Power Utility

    Nigeria’s National Council on Privatization approved Manitoba Hydro Electric Board of Canada as the network operator for the state-owned power utility, Transmission Co. of Nigeria, the presidency said. Manitoba Hydro and Power Grid Corporation of India Ltd. on...

    • Posted March 27, 2012
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  • ‘Aggravated Pimping’ Probe for Strauss-Kahn

    French magistrates charged Dominique Strauss-Kahn with “aggravated pimping,” placing the former International Monetary Fund chief under preliminary investigation for his alleged involvement in a French prostitution ring, prosecutors said. The magistrates on Monday ordered Mr. Strauss-Kahn to...

    • Posted March 27, 2012
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  • Nigerian Stock Exchange Watch: Activity Levels Tank as Market Drops 0.9%

    Negative sentiment dominated the market today as the All Share Index fell 90 points to close at 21,000.15. Selling pressure drove the prices of majority of the banking counters down as only two regional banks, Wema (+0.02%)...

    • Posted March 26, 2012
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  • WORKSHOP ON CORRUPTION: NESG Restates Commitment to Ethical Business Practices

    The NESG in conjunction with the United Nations Global Compact and the Siemens Integrity Initiative today in Abuja held a National Stakeholders Workshop on corruption at the Transcorp Hilton hotel. The workshop tagged “Openness & Transparency: A...

    • Posted March 26, 2012
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  • Light rail: Fashola woos British, other investors

    As work progresses on the first phase of the 61-kilometre Lagos-Badagry Light Rail Project christened the Blue Line, Lagos State Governor, Mr. Babatunde Fashola has wooed British and other investors for the concession of the second part...

    • Posted March 26, 2012
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  • Number plate: Senate summons FRSC, FIRS, minister

    Senate Committee on Federal Character and Intergovernmental Affairs has invited the Minister of Transport, Mr. Idris Umar, and the Chairman of the Federal Inland Revenue Service, Mrs Ifueko Omoigui-Okauru, to its public hearing on Tuesday. According to...

    • Posted March 26, 2012
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  • Nigeria and GE Signs $10 billion Pact on Electricity Generation, Plan for 10,000 Megawatts

    The Federal Government has entered into a $ 10 billion agreement with General Electric (GE) to invest in the construction of power plants across the country. The agreement was signed in London over the weekend by Minister...

    • Posted March 26, 2012
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  • Nigerians sue Shell in London over Delta pollution

    A group of 11,000 Nigerians launched a suit against Royal Dutch Shell at the London High Court on Friday, seeking tens of millions of dollars in compensation for two oil spills in 2008 that they say destroyed...

    • Posted March 26, 2012
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