archiveJune 2016

Al Jazeera’s Documentary: I’m dressed as ‘common criminal’ without court conviction- Diezani Former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has reacted to a recent documentary by Al Jazeera, where it was claimed that her piece of property in Abuja worth $18m and her jewellery worth $2m, have been seized...

Wole Tokede The Economic and Financial Crimes Commission (EFCC) said it has frozen over N126 billion in about 120 accounts belonging to some of the suspects being investigated. It said this is done so as not to jeopardize its investigations. Some of those affected include about N126, 563,481,095.43 that was...

The Nigerian Customs Service (NCS),  Murtala Muhammed International Airport (MMIA) Command, Lagos has  arrested two Chinese over attempt to smuggle out prohibited items on the export list consisting 678 pieces of Elephant tusks and eight sacks of Pangolin weighing over 381 kilogrammes. The contraband was intercepted at the Export Shed...

Niyi Olaoye Dealers within the Nigeria financial market are of high expectations that Treasury Bills (T-Bills) worth N196.99 billion to be traded on Thursday will boost financial system liquidity and soften interbank rates. According to one of the dealers, the instruments are 91-day bills worth N35.10 billion and 149-day bills...

By Niyi Olaoye Indications have emerged that due to uncertainties in the economic environment, most Nigerian banks are not willing to lend to each other and to the real sector of the economy, preferring to place their excess liquidity with the Central Bank of Nigeria (CBN) for interest earning purposes....

Investors in equities on the Nigerian Stock Exchange traded 152.33 million shares valued N2.3 billion in 3,406 deals even as market capitalisation stood at N9.31 trillion and the All-Share Index of the Exchange closing at 27,103.38 basis points. UNILEVER led gainers for the day, from the opening value of N32.00,...

The Minister of Labour and Employment, Dr. Chris Ngige, has condemned the reaction of the Nigeria Employers’ Consultative Assembly (NECA) as spearheaded by its Director General, Mr Segun Oshinowo,  on the directive to banks to stop staff retrenchment, even as he has said that the Federal Government has invited the...

The family of the presumed winner of the June 12, 1993 presidential election, late Chief MKO Abiola, has called on the Federal Government to declare him the winner and pay presidential entitlements. Head of the family, Alhaji Muritala Abiola made the request on Sunday during the commemoration of the June...

The Nigeria Employers’ Consultative Association (NECA) has kicked against the proposed picketing of some banks by the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) as a result of retrenchment in the sector. Reacting to the issue, NECA said that the labour law recognizes the right of employer...

  By ABDUL-KHALIQ OLALEKAN Sovereign Trust Insurance Plc has assured its numerous clients nationwide prompt payment of genuine insurance claims as at when due, even as it paid N386.9 million as claims in the first quarter of the year. A statement released by the firm and made available to Business247...