OTHER BUSINESSES

Among the 14 members of the Organisation of Petroleum Exporting Countries (OPEC), Nigeria suffered the biggest production decline last month, sliding by 130,000 barrels a day to 1.44 million a day. This is against the reports that OPEC’s crude production climbed to a record high in August as increased output...

The Federal Government has signed up China Civil Engineering Construction Corp (CCECC) to modernise and build railways in the north and south of the country. Growth in the country has been stunted for decades by a lack of enough investment in roads and railways. According to Reuters’ report monitored by...

Aero Contractors Airlines on Wednesday said that it would  suspend all its scheduled services indefinitely from Thursday September 1, 2016. The airline’s Chief Executive Officer, Mr Fola Akinkuotu, explained in a statement in Lagos that the management decision was part of the strategic business realignment to reposition the airline and...

The Central Bank of Nigeria (CBN) has said the National Collateral Registry, which it recently developed with the support of International Finance Corporation (IFC), a member of the World Bank Group, to allow low-income earners and small-scale entrepreneurs to secure loans against movable assets, will not only increase local production...

...says Aba is SME capital of Nigeria The Governor of Abia State, Dr Okezie Ikpeazu, has restated his government's commitment to provide enabling environment for trade and commerce to thrive in the state. Governor Ikpeazu spoke when he paid a courtesy visit to the British High Commissioner to Nigeria, Paul...

There was pandemonium at the Arik Air Stand at the Ibom International Airport in Uyo, Akwa Ibom State, over the refusal of the management of the airline staff to explain the incessant cancellation of flights to agitated passengers. The passengers were booked on an Arik Air flight W3 417 to...

The Lagos State Government has paid a sum of N919 million pension entitlement to 180 retirees who retired from the Mainstream Civil Service, Local Governments, State Universal Basic Education Board (SUBEB), Teachers Establishment and Pension Office (TEPO) and other parastatals of the state. The N918.7 million was paid as August...

Pirate attacks off the coast of Nigeria rose in the first half of the year, while attacks on shipping globally fell to their lowest level in 21 years, according to the International Maritime Bureau. Globally, there were 98 actual or attempted pirate attacks in the first half of 2016, according...

Following a directive in the 2009 Corporate Governance Code of the National Insurance Commission (NAICOM) mandating executive directors and non-executive directors, who have stayed over a stipulated period of years, precisely, nine years on the board of insurance firms, to exit the companies, this has led to mass exit of...

Great Nigeria Insurance (GNI) Plc has paid a sum of N700 million as claims between January and June 2016, as part of its commitment to prompt claims settlement. A statement from the firm and made available to Business 247 Online at the weekend said General Business accounted for over 19...