All posts by Ifreke Inyang

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  Nigeria loses 95,000bpd as Shell shuts Nembe pipeline

  Nigeria’s oil production has dropped by at least 95,000 barrels per day as the Royal Dutch Shell said on Wednesday it had closed the Nembe Creek Trunk oil pipeline to stop leakage caused by oil theft. The...

  • Posted February 28, 2014
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  $2.9tn needed to build infrastructure – NESG

  The Chairman, Nigeria Economic Summit Group, Mr. Foluso Philips, has said that the country needs a total of $2.9tn to close its infrastructure gap. He said this during the investiture of Dr. Temilola Kehinde as the 15th...

  • Posted February 28, 2014
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  Acting CBN Governor unveils new security policy on electronic fraud

  The Acting Governor of the Central Bank of Nigeria(CBN), Dr. Sarah Alade has unveiled new security policies to protect bank customers and the business community against electronic fraud. According to the Acting CBN Governor, the new strategy...

  • Posted February 27, 2014
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  Power distribution firms owe government – NERC

  Of the 11 electricity distribution companies in the country, only three have so far remitted to the Federal Government money due it, the Nigerian Electricity Regulatory Commission has said. According to NERC, the development is in spite...

  • Posted February 27, 2014
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  NCC reels out 7 commandments to three operators

  In a semblance of the biblical Ten Commandments, the Nigerian Communications Commission, NCC, Monday, gave three Nigeria operators, MTN Nigeria, Globacom and Airtel Nigeria, seven strict instructions that must not be violated following their detoriating network quality...

  • Posted February 27, 2014
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  CBN Governor’s suspension: Court declines to re-instate Sanusi

  Suspended Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi’s bid  to return to office suffered a setback,Wednesday as the Abuja Division of the Federal High Court, dismissed an ex-parte motion that sought for his...

  • Posted February 27, 2014
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  Communication Technology ministry’s capital projects poorly funded – Senate

  The Senate on Tuesday lamented that most of the capital projects in the Ministry of Communication Technology, for which money was appropriated in the 2013 budget, were poorly funded. The Senate Committee on Communication, which raised the...

  • Posted February 27, 2014
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  Report predicts naira devaluation on Sanusi’s suspension

  The naira is at risk of being devalued after President Goodluck Jonathan suspended the Central Bank Governor, Mr. Lamido Sanusi, last week, eroding confidence in monetary policy and sending the naira to a record low. Bloomberg reported that...

  • Posted February 27, 2014
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  AMCON to sell Enterprise, Mainstreet banks October

  The Managing Director, Asset Management Corporation of Nigeria, Mr. Mustafa Chike-Obi, has said that the agency will sell two of the three nationalised banks this year. Specifically, he said Enterprise Bank Limited would be sold in June...

  • Posted February 27, 2014
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  NNPC fails to declare $22.8bn oil proceeds

  The Nigerian Extractive Industries Transparency Initiative said on Wednesday that a whopping $22.8billion was yet to be declared by the Nigerian National Petroleum Corporation in its alternative funding arrangements with Joint Venture Partners. NEITI told the House...

  • Posted February 27, 2014
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