Like Dangote, Otedola goes into refining, sells off Forte Oil Another huge entrance into the refining aspect of the Nigerian oil business may be in the offing, with the announcement of billionaire oil mogul, Femi Otedola, that he is taking a bite at the apple, coming on the heels of the huge investment of his pally, Aliko Dangote. Otedola, for starters,...... read more
BREAKING: Buhari surrenders to Labour, backs new National minimum wage A new minimum wage of N30, 000 has been endorsed by President Muhammadu Buhari after the Tripartite Committee on National Minimum Wage presented their report. The President gave the approval on Tuesday shortly after the report of the committee was presented to him. The latest move by the President has essentially...... read more
How Access Bank stole N350million from my account, another Igbo businessman cries out Nigerians may soon witness another serving of the Innoson-GTBank saga, as another edition of transaction gone-sour is breaking out between Access Bank Plc, and one of its customers, Mr Pascal Nwabueze Innocent, who is alleging that the bank stole a whopping N350million from his two accounts in Abuja. Nwabueze, a businessman,...... read more
Don't embark on strike, NNPC begs NUPENG, PENGASSAN The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has asked oil workers to suspend their planned strike over a labour dispute involving the Management of Chevron Nigeria Limited (CNL) and its staff. The unions are the National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum...... read more
$10.1bn: Go after MTN, NLC gingers federal government The Nigeria Labour Congress (NLC) has backed the federal government to spare no effort in ensuring that MTN refunds $10.1 billion. NLC president, Ayuba Wabba in a statement issued on Sunday, urged MTN to comply with the federal government’s directive. The Central Bank of Nigeria had alleged that the telecommunications company...... read more
Onitsha Keke Operators Protest N300M Illegal Levies Business activities in Awka capital Anambra State were disturbed when on Wednesday, when over 5,000 operators of commercial tricycles (aka) keke took over the streets in protest over what they claimed was the forceful extortion by agents of the state government. They particularly complained that no less than N300million are forcefully...... read more
BREAKING: MTN fights back, drags AGF, CBN to court over $10.1bn demand MTN Nigeria has filed a suit against the Central Bank of Nigeria (CBN) and the attorney-general of the federation to seek a restraining order, TheCable can report. In a suit filed on Monday, the telco is seeking an conjunctive relief to protect its assets and shareholder rights, according to report emerging...... read more
Tragedy averted as Plane makes emergency landing in Lagos An Air Peace Lagos-Owerri flight returned to base on Friday after a passenger on board informed the crew that he was smelling smoke in the cabin. An Air Peace Lagos-Owerri flight returned to base on Friday after a passenger on board informed the crew that he was smelling smoke in the...... read more
Glo 'Slasher' customers to enjoy up to 85% reduction on foreign calls In line with its forte of constantly adding value to subscribers’ experience on the network, Globacom has reduced the cost of its international calls by up to 85 per cent. The discount is one of the benefits of the Glo Slasher recently launched by the company, with the aim of empowering subscribers to...... read more
GenCos vows to shut down power plants across Nigeria Executive secretary of the Association of Power Generation Companies (APGC), Joy Ogaji has declared that power firms might shut down plants over the inability of the Transmission Company of Nigeria (TCN) to transmit available volume of electricity generated into the national grid. In a statement, Ogaji said the generation companies (GenCos) were increasingly facing lower...... read more
'Glo Oga SIM' showers data on Nigerians Nigeria's grandmasters of data, Globacom, has showered Nigerians with data as it introduces 'Oga SIM', a product that gives subscribers an unrivalled 125 per cent bonus on data bundle subscriptions. Addressing journalists at the launch of ‘Oga SIM’ at the Mike Adenuga Towers, Victoria Island, Lagos on Wednesday, Globacom's Regional Chief Marketing...... read more
Lagos traffic gridlock lingers as Ambode drags completion of light rail project The Lagos state government has postponed the projected completion of the Blue Line Light Rail project from Marina to Mile 2. Lagos Metropolitan Area Transport Authority (LAMATA) managing director, Abiodun Dabiri said the government has signed a Memorandum of Understanding with Alstom SA, a French multinational to complete the project. The...... read more
Mysterious fire destroys offices, cash as Access Bank building goes on fire in Akure Tragedy struck on Monday, as a branch of the Access Bank Plc on the campus of the Adekunle Ajasin University (AAU) Akungba Akoko, Ondo State, went up in flames. PUNCH, reports that fire, which started in the earlier hours of the day, before the resumption of the dayy’s activities, destroyed some...... read more
Price of commodities soars as Inflation rate jacks up steadily in Nigeria -NBS The rate at which the prices of good and services are increasing is rising. Data made available by the National Bureau of Statistics on Monday showed that month-on-month inflation rose from 1.09 percentage points in May to 1.24 percentage points in June. However, year-on-year inflation slowed from 11.61 percentage points in...... read more
BREAKING: New National carrier unveiled as Nigeria Air Minister of State for Aviation, Hadi Sirika on Wednesday unveiled the name of Nigeria’s national carrier, as well as the logo at the Farnborough International Airshow in London. Sirika said the national carrier is Nigeria Air. During the unveiling, the minister said, “this will be a National Carrier that is Private...... read more
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