All posts by Ifreke Inyang

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  Experts express fears over Nigeria’s mounting debts

  Amidst worry by experts in and outside government about the rapid growth rate of Nigeria’s debt- domestic and external, the Federal Government, through the Debt Management Office (DMO), last week spoke of plans to borrow $25 billion...

  • Posted October 10, 2012
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  Toyota to recall 7.4 million cars

  Toyota is voluntarily recalling more than seven million vehicles worldwide, including some Yaris, Corolla and Camry models, over faulty window switches, reports the BBC. It affects 1.39 million cars in Europe – 138,000 in the UK –...

  • Posted October 10, 2012
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  House of Assembly seeks to inflate budget oil price

  Nigeria’s parliament speaker Aminu Tambuwal said on Wednesday the house had proposed to inflate cabinet’s oil price assumption in the 2013 budget to $80 barrel, from $75 a barrel proposed, signalling a likely showdown over the bill....

  • Posted October 10, 2012
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  Central Bank refunds N5bn illegal bank charges to customers

  The Central Bank of Nigeria has said that it has recovered and returned to customers a total of N5bn wrongfully taken from depositors by banks operating in the country. It also said it would focus on the...

  • Posted October 10, 2012
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  Trial of former Bank PHB boss stalls over allegation of threats to witness

  The trial of a former Managing Director of Bank PHB, Francis Atuche, was on Tuesday stalled again, following the absence of a prosecution witness, Mr Bolaji Ogunsola, who alleged threat to his life. Atuche is being prosecuted...

  • Posted October 9, 2012
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  Police arrest Ifeanyi Uba, Capital Oil chief over fuel subsidy scam

  The Police Special Fraud Unit, Ikoyi has arrested oil magnet, Mr Ifeanyi Uba, the Managing Director of Capital Oil & Gas Industries Ltd over the involvement of his companies in the fuel subsidy scam. Uba was taken...

  • Posted October 9, 2012
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  Kinfe Kahssaye resigns as CEO of Air Nigeria

  Kinfe Kahssaye, the Chief Executive Officer of AirNigeria, has resigned from the troubled airline. SaharaReporters learnt that Mr. Kahssaye finally decided to step down yesterday after discovering that the airline was unlikely to return to business. Air...

  • Posted October 9, 2012
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  “Cashless policy is still below expectation” – Bismarck Rewane

  Exactly 10 months after the pilot phase of cash-less policy commenced in Lagos, Managing Director/Chief Executive Officer, Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has expressed concern over the low level of acceptance of the policy....

  • Posted October 8, 2012
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  Credit to private sector reached N14.885tn in August

  Banking sector credit to the private sector increased slightly to N14.885 trillion in August, reflecting a year-on-year slowdown of 36.9 per cent, data obtained from the Central Bank of Nigeria’s (CBN’s) website has shown. But THISDAY checks...

  • Posted October 8, 2012
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  Shell declares force majeure on NLNG supply

  Shell on Friday declared force majeure on its gas deliveries from Nigeria’s liquefied natural gas (NLNG) plant after an attempt to steal crude oil from a pipeline led to a fire, it said. “An attempt was made...

  • Posted October 7, 2012
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