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  • Senate orders Aero Contractors to recall 650 sacked workers

    The Management of Aero Contractors had on Thursday, been directed by the Senate to withdraw the dismissal letters issued to members of its staff. This directive was given by the Senate Committee on Aviation, at a meeting...

    • Posted March 29, 2013
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  • Coca-Cola partners Ministry of Agriculture to harness cassava potential

    The Ministry of Agriculture and Rural Development and the Coca-Cola Group have begun discussion on partnership to harness some cassava potential. Kelvin Balogun, the President, Coca-Cola (Central, East and West Africa), told the Minister, Dr Akinwumi Adesina, during a...

    • Posted March 29, 2013
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  • NEXIM Bank projects $60m for Regional Sealink project

    The Nigerian Export-Import (NEXIM) Bank said on Wednesday that it would execute a 60 million dollar Regional Sealink Project for West and Central Africa. The project, in conjunction with the Federation of West African Chambers of Commerce and Industry...

    • Posted March 28, 2013
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  • FAAN to introduce automated toll gates

    The Federal Airports Authority of Nigeria (FAAN) will soon introduce automated toll gates in the 22 airports in the country, Mrs Henrietta Yabubu, the Head of Public Affairs, has said. Yabubu, who disclosed this on Tuesday in...

    • Posted March 28, 2013
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  • Pension Scam: Maina didn’t fly out of the country – Lawyer

    Justice Adamu Bello of the Federal High Court in Abuja, yesterday, issued an order of perpetual injunction restraining the Inspector General of Police, Mr. Mohammed Abubakar, from arresting the embattled Chairman of the disbanded Pension Reform Task...

    • Posted March 28, 2013
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  • Subsidy scam: EFCC secures order to repatriate funds from UK

    Shrewd Nigerian fuel importers who have hidden stolen money in British banks may soon lick their wounds, as the slush funds may be repatriated to Nigeria on the order of the courts. The Economic and Financial Crimes...

    • Posted March 28, 2013
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  • Petrobras to Auction $5bn of Nigerian Oil Assets

    Brazilian oil company Petrobras is preparing to auction its stakes in Nigerian oil fields to raise cash for domestic projects; a deal that may fetch up to $5 billion, sources close to the deal informed the Reuters...

    • Posted March 28, 2013
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  • Diamond Bank Opens UK Subsidiary

    Diamond Bank Plc Wednesday said it has been granted approval by the Financial Services Authority (FSA) to operate a bank in the United Kingdom. Group Managing Director/ Chief Executive Officer, Diamond Bank, Dr. Alex Otti, who disclosed...

    • Posted March 28, 2013
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  • NCS seizes 1,711bags of rice in Adamawa

    While maintaining zero tolerance on smugglers, the Customs anti-smuggling operatives in Jemita, Yola, AdamawaState have swooped on two large wooden boats that were fully loaded with 1,711 bags of rice, 105 bags sugar and 85 jerry-cans of...

    • Posted March 28, 2013
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  • FEC approves N47.8bn road contracts

    The Federal Executive Council, FEC, yesterday approved the award of 13 roads contracts across the country at a cost of N47.8 billion Speaking at the end of the FEC meeting, the Minister of Works, Mike Onolememen, told...

    • Posted March 28, 2013
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  • BPE offers to sell Omotosho Power Plant to CMEC-Pacific for N33.6bn

    The Bureau of Public Enterprises, BPE, has offered to sell the Omotosho power plant in Ondo State to CMEC-Pacific consortium. The sale transaction is through a debt-equity swap process that will see the major project financier taking...

    • Posted March 28, 2013
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  • Petrobras plans N795bn divestment from Nigerian oil blocks

    Brazilian oil major, Petroleo Brasileiro SA, Petrobras, yesterday, commenced moves to sell off its stake in some Nigerian oil blocks valued at N795 billion ($5 billion). The sale of the oil blocks is expected to bring about...

    • Posted March 27, 2013
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  • ‘NO second term for me’, what Sanusi told Jonathan in 2011

    The Governor, Central Bank of Nigeria (CBN), Malam Sanusi Lamido Sanusi, has shed more light on his decision not to vie for second term in office. According to Malam Sanusi, he intimated President Goodluck Jonathan way back...

    • Posted March 27, 2013
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  • Afren offers $37m for stake in Nigerian firm

    AFREN Plc, a United Kingdom-based oil and gas company, is planning to expand reserves by 29 per cent after increasing its stake in an indigenous firm, First Hydrocarbon Nigeria Company Limited. Afren, according to a statement obtained...

    • Posted March 27, 2013
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