All posts by Ifreke Inyang

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  Shell reopens 150,000bpd vandalised pipeline

  Royal Dutch Shell reopened its 150,000 barrel per day Trans Niger pipeline in Nigeria, which was shut for nearly two months, it was learnt on Monday. This has lifted crude oil production, which has been fluctuating between...

  • Posted September 18, 2013
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  USADF, General Electric commit $2m to electrify communities off national grid

  Determined to help address power inadequacy in the country, the United State Africa Development Foundation, USADF, and General Electric, GE, have committed $2 million to supply electricity to rural and urban communities not covered by the national...

  • Posted September 18, 2013
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  RTGS: CBN to stop picking shortfalls for banks

  The Central Bank of Nigeria on Monday said it would, by December 2016, remove its implicit role of ‘lender of last resort’ for the Real Time Gross Settlement System. The central bank boss, Mr. Lamido Sanusi, said...

  • Posted September 18, 2013
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  Oil earnings dip by N36bn in Q2

  The contribution of the oil and gas sector to the Nigerian economy declined significantly in the second quarter of 2013, as revenue accruable to the Federal Government from the sector dipped by N35.7 billion. The Central Bank...

  • Posted September 18, 2013
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  Midwestern Oil explains facility invasion

  Midwestern Oil and Gas Limited, said the reason for the recent attack on its production facility at Umusadege, Ndokwa West Local Government Area of Delta State, is still unknown, even as it admitted to receiving a strange...

  • Posted September 18, 2013
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  GTBank, CEO, win 2013 award for best bank, banker

  Guaranty Trust Bank Plc emerged winner of the ‘2013 Best Banking Group – Nigeria’ in the 2013 Annual World Finance Banking Awards, 2013, with the judges saying the bank scored high in innovation and product offering in the...

  • Posted September 17, 2013
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  Access Bank clinches overall prize in Web-Jurist award

  Access Bank was recently adjudged overall winner of the 2013 Web-Jurist ‘Website Effectiveness Award’ conducted by Philips Consulting, for its consistence in the quality of service delivery via its website. The bank moved from the third position last...

  • Posted September 17, 2013
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  Zungeru power project cost not high – FG

  The Federal Government has faulted the report that the contract for the Zungeru Hydroelectric Power Project is extremely high. It was reacting to a report indicating that the contract price was unusually high when compared with the...

  • Posted September 17, 2013
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  SEC appoints KPMG to handle ETI investigation

  The Securities and Exchange Commission has announced the appointment of KPMG as part of its team in the ongoing investigation of Ecobank Transnational Incorporated. A statement by SEC on Sunday explained that the services of the consulting...

  • Posted September 17, 2013
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  External trade rose by N242bn in Q2 – NBS

  The National Bureau of Statistics on Sunday said that the country recorded an increase of N242.3bn or 4.8 per cent in external merchandise trade in the second quarter of this year. The bureau, in its trade statistics...

  • Posted September 17, 2013
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