archiveMay 2016

  Everything being equal, Nigerian oil technocrat, Mohammed Barkindo, may take the top job at the Organisation of Petroleum Exporting Countries (OPEC) as its Secretary-General when the group meets on Thursday. He is seen by many of the members of the organisation as a compromise candidate to lead the group...

Nigeria is losing $10 billion in the maritime industry due to revenue leakages. To address the problem, the Nigerian House of Representatives committee on Maritime, Safety, Education and Administration has summoned 1,319 companies to appear on June 15, in Abuja. The committee also invited critical stakeholders in the maritime sector...

  By ABDUL OLALEKAN Consolidated Hallmark Insurance Plc has declared three kobo par share totalling N180 million as to its shareholders across the federation. Earlier, the company had paid an interim dividend of N120 million from the half year ended 2015 results. Disclosing this at the 21st Annual General Meeting,...

By ABDUL OLALEKAN 38 insurance firms in the country have so far submitted their 2015 financial statements to the National Insurance Commission (NAICOM) for approval. Of the 38 companies that had submitted, the regulatory body has approved accounts of 31 of them and they can now go ahead to hold...

Equity transaction on the Nigerian Stock Exchange resumed the first trading day of the week in a negative territory as the market records 4.26 per cent price depreciation, shedding N400 billion to bargain hunters. The All Share Index (ASI) which rose by 6.6 percent last week to close at 28,902.55...

The Inspector-General (IG) of Police, Mr. Solomon Arase, has ordered senior officers in the South-East and the South-South geopolitical zones of the country to disarm members of the Indigenous People of Biafra immediately. Arase said this in a statement by the Force Public Relations Officer,Mr. Olabisi Kolawole, while reacting to...

British Airwaysn has reiterated  commitment to the Nigerian aviation market asit said that the country route remains its biggest business hub in Africa. The airline, in a statement, debunked media reports that it was planning to stop operations to Nigeria over its $100 million trapped in the country. It stated...

President Muhammadu Buhari has approved the establishment of an inter-agency task force that will help the Asset Management Corporation of Nigeria (AMCON) recover loans and other assets it took on six years ago to rescue banks in the country. Bloomberg report monitored by Business247 in Lagos read: “Debtors who cut...

  World oil market is immensely profiting from the chaos in Nigeria as result of disruption to the nation’s output as militants have continued to blow oil installations in the Niger Delta region of the country which is the base oil production the country. According to Bloomberg’s report monitored by...

Sixteen members of staff sacked by the Nigerian Maritime Administration and Safety Agency (NIMASA) have urged the National Human Right Commission (NHRC) to intervene in their matter and ensure their reinstatement. The appointment of the aggrieved staff members were terminated by the former Director General of the agency, Mr.  Raymond...