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  UN Aims to Strengthen Nigeria’s Alternative Energy Program with N 320 million Injection

  THE United Nations Development Programme (UNDP) has deposited $2 million with the Bank of Industry, to encourage even private participation and local industries working on renewable energy projects. The United Nations Resident Coordinator, Daouda Toure, made the...

  • Posted June 29, 2012
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  US Seizes $ 1,000,000 from Alamieyeseigha under Kleptocracy Asset Recovery Initiative

  The United States Justice Department has seized $ 400,000 from former Bayelsa State governor and Presidential adviser, DSP Alameieyeseigha. The seizure came in the form of a forfeiture execution order, and also targets a $ 600,000 home...

  • Posted June 29, 2012
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  Europe provides Jonathan administration with €197m funds for Reforms

  The European Union has advanced €197m to the Federal Government in a financing agreement designed to assist the Jonathan administration in carrying out its reform programmes. The funding will go towards reforms in the judiciary, water supply, strengthening...

  • Posted June 28, 2012
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  Italy’s Saipem wins $1 billion in contracts in Nigeria, Saudi Arabia

  Italian oil services company Saipem said on Wednesday it had won onshore contracts for a total of $1 billion in Nigeria and Saudi Arabia. The contract in Saudi Arabia is part of the expansion of an integrated refinery...

  • Posted June 28, 2012
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  Buyer beware of $10 mln discounts on Nigerian oil – Investigation

  Little-known firms claiming to have privileged access to prized sweet crude oil from Nigeria are offering to sell it at such deep discounts that traders say the deals are too good to be genuine. Documents seen by...

  • Posted June 28, 2012
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  IFC signs $2.3 million Health Insurance agreement with Nigeria

  The International Finance Corporation (IFC) has signed a $ 2.3 million agreement with the Federal Government that will fast track the development of health insurance in the country. The agreement was signed by the acting Executive Secretary, National...

  • Posted June 28, 2012
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  ‘N 422 bn in Subsidy Fraud to be Refunded to Federal Government’ – Aig Imokhuede led Committee

  The Fuel Subsidy Claims committee headed by Managing Director of Access Bank, Aigboje Aig Imokhuede has recommended in its report that N 422 billion be refunded to the Federal Government by oil marketers. The committee includes other...

  • Posted June 28, 2012
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  Nigeria Stock Exchange: ASI (+1.06%) Records Biggest Gain in a Week

  The Nigerian Stock Exchange closed well in the green as the All Share Index recorded the biggest gain since June 20th, appreciating by 1.06%. The performance was driven by the price gains recorded in blue chips like...

  • Posted June 27, 2012
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  Naira Strengthens After Central Bank Sells Dollars

  Nigeria’s naira appreciated against the dollar after central bank sold the U.S. currency in the second of its twice-weekly auctions. The currency of Africa’s biggest oil producer appreciated 0.1 percent to 162.60 naira per dollar in interbank trading...

  • Posted June 27, 2012
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  London School of Business and Finance hosts global summit in Lagos today

  Recognizing the need for global skills and international networking opportunities for today’s students, the London School of Business and Finance (LSBF) in partnership with UK Trade and Investment will today host a Global Business Summit in Lagos,...

  • Posted June 27, 2012
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  Aig Imokhuede Sends Subsidy Claims Report to FG

  Aigboje Imokhuede, the Managing Director of Access bank and the head of the Subsidy Claims Audit Committee has transmitted his report to the Coordinating Minister of the Economy, Okonjo Iweala who has also reportedly transmitted it to...

  • Posted June 27, 2012
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  Reps Order Navy to transfer Rogue French Ship to EFCC to forestall its Disappearance

  The House of Representatives have issued an order to the Nigerian Navy to handover the rogue french crude ship to the Economic and Financial Crimes Commission (EFCC) in order to forestall disappearance of the vessel. The ship,...

  • Posted June 27, 2012
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  President Jonathan sacks entire NNPC Executive Board

  President Jonathan has terminated the employment of the entire executive board of the Nigerian National Petroleum Corporation (NNPC), sending them on compulsory retirement. The affected management staff included Austin Oniwon, former Group Managing Director; Michael Arokodare, former ED...

  • Posted June 27, 2012
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  Nigerian Stock Exchange Watch: Bluechips Decline Cause Marginal Drop in ASI (-0.05%)

  The Nigerian Stock Exchange experienced decline for the second consecutive day as the All Share Index closed 0.05% lower. Decline in prices of Blue-chip stocks like Oando (-4.97%), First Bank (-0.09%), Nigerian Breweries (-0.12%), and Flour Mills...

  • Posted June 26, 2012
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