archiveAugust 2020

The Economic and Financial Crimes Commission (EFCC) has secured the final forfeiture of N827, 679,098.32 (Eight Hundred and Twenty-Seven Million, Six Hundred and Seventy-Nine Thousand, Ninety-Eight Naira, Thirty-Two Kobo) from Flank Power Resources Limited and GMFD Ventures Limited, both of whom are firms linked to contractors with the Niger Delta...

The Federal Government expended about N523.3 million on school feeding programme during the lockdown against the coronavirus pandemic. The Minister of Humanitarian Affairs, Disaster Management and Social Development (MHADMSD), Sadiya Farouq, announced this at the Presidential Taskforce briefing on COVID-19 on Monday in Abuja. Farouk made the revelation against the...

The Custodian Investment Plc has signed a binding agreement with UAC of Nigeria Plc to purchase 51 per cent equity interest in UACN Property Development Company (UPDC) Plc. Mr Wole Oshin, Group Managing Director, Custodian Investment, made this known in a statement posted on the Nigerian Stock Exchange (NSE) on...

Flour Mills of Nigeria Plc has announced that its 60th Annual General Meeting (AGM) scheduled for Sept. 10, would be by proxy and live streaming. Mr Joseph Umolu, the Company Secretary, disclosed in a notice posted on the website of the Nigerian Stock Exchange (NSE) on Monday in Lagos. Umolu...

Sterling Bank Plc on Monday in Lagos reported a net interest income of N33.5 billion during the half-year ended June 30, 2020. The bank Chief Executive Officer, Mr Abubakar Suleiman, said in a statement that this was against N30.4 billion recorded during the corresponding period of 2019, representing a growth...

The nation’s bourse commenced trading for August after Sallah break with a growth of 0.30 per cent on renewed bargain hunting. Speficially, the All Share Index (ASI) rose by 72.39 points, to close at 24,766.12 against 24,693.73 achieved on Wednesday. Also, the market capitalisation inched higher by N37 billion to...

AIICO Insurance Plc has reported a Gross Written Premium (GWP) of ₦31.9 billion as at June 2020, which signifies a 26 per cent increase, compared to N25.4 billion recorded in comparative period of 2019. A statement made available by the firm in Lagos on Monday said that the growth was...

The Presidency has frowned at the reported plan by the Trade Union Congress (TUC) to embark on a nationwide protest over the alleged President Buhari’s “inaction over the high-level of corruption uncovered at some Federal Government’s commissions. The News Agency of Nigeria (NAN) reports that both the Executive and Legislative...

Dr Tedros Ghebreyesus, the Director-General, World Health Organisation (WHO), says a number of vaccines are now in phase three clinical trials to prevent COVID-19 pandemic. Ghebreyesus made this known at a virtual news conference on Monday at the WHO Headquarters in Geneva. The director-general said: “ We all hope to...

The Air Peace says the devastating effects of COVID-19 pandemic on its operations was responsible for the sacked of some pilots and supporting staff. The company said in a statement on Monday in Lagos that it took the “very painful, but rightful decision”. It said that the decision followed the...