10.37London

Wednesday, 24 January 2018

Paul

Flour Mills to merge subsidiaries

THE management of Flour Mills of Nigeria Plc (FMN) has announced plan to conduct a restructuring by merging five of its subsidiaries with its holding company under a scheme of External Restructuring. According to the Group Managing Director, Flour Mills, Mr. Paul Miyonmide Gbededo, the company had obtained the approval-in-principle…

Muhammadu Buhari,

Buhari reinstates former NPA MD

President Muhammadu Buhari has terminated the appointment of the Managing Director of the Nigerian Ports Authority (NPA), Alhaji Sanusi Ado Bayero. The termination of Alhaji Bayero’s appointment is with immediate effect. A statement by the presidential spokesperson, Mr. Femi Adesina directed Bayero to hand over the management of the NPA…

NLNG

NLNG not funding Badagry Dockyard, says BSMEC

The Badagry Ship Repair and Maritime Engineering Company (BSMEC) has responded to the ongoing controversy which trailed its recent decision to site a $1.5bn Dockyard project in Badagry, Lagos State. Speaking in Lagos on behalf of the consortium, Dr. Taiwo Afolabi, who is BSMEC Chairman as well as Chairman of…

Berger

At NSE, Berger paints pledges to lift shareholders returns

THE Managing Director and Chief Executive Officer of the Berger Paints Nigeria Plc, Mr. Peter Folikwe has pledged to lift shareholders returns.Speaking while addressing the management of the Nigerian Stock Exchange (NSE) during a courtesy visit, he said the company has  acquired new machinery described as one of the best…

Buhari

Ministry under scrutiny over alleged diversion of N119b railway fund

President Muhammadu Buhari has queried the Ministry of Finance over alleged diversion of N119billion  foreign loans secured to expand and develop rail projects. The loans were secured by the former administration of  President Goodluck Jonathan. Buhari wants to ascertain how the loan secured from the Chinese Exim Bank for the construction of…

FAAN

FAAN canvasses quality aviation fuel

THE Federal Airports Authority of Nigeria, (FAAN) has enjoined aviation  agencies  to initiate quality control mechanism to strengthen and make Jet A1, the fuel used by aircraft safer. Managing Director of  FAAN, Saleh Dunoma, an engineer, stated this during his keynote address at the 2015 yearly public lecture organised by the Aeronautical Division…

Etisalat

Etisalat tackles NCC in court over alleged undue advantage to MTN

COME September 25, 2015, Justice Mohammed Idris of the Federal High Court in Lagos will  hear a suit filed by mobile telecommunications giant, Etisalat Nigeria against the Nigerian Communications Commission (NCC) over alleged unhealthy competition and undue advantage given to one of its competitors, MTN Nigeria. Already,  Justice Idris has strucked  out an…

FIRS

FIRS earns N1.97 trillion in six months

THE  Federal Inland Revenue Service (FIRS) generated N1.97 trillion in revenue in the first half of this year. Acting Executive Chairman of FIRS, Mr Sunday Ogungbesan, made the disclosure in Lagos at the weekend. According to Ogungbesan,  the figure represents 98 per cent of the targeted revenue of N2.28 trillion…

Dikko

Customs FOU arrest 30 suspects

THE Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone “C” Owerri, last month made 48 seizures, worth a Duty Paid Value (DPV) of one hundred and ninety-seven million, three hundred and eighty-five thousand and seven hundred and forty-seven naira (N197,385,747.00). The Customs Area Controller (CAC) of the unit, Comptroller…

Custom

Customs intercepts five 2015 Toyota Corolla

THE Headquarters Monitoring Team of Nigeria Customs Service (NCS) has intercepted five 2015 Toyota Corrola along Lagos-Shagamu Expressway. A statement issued by NCS explained that the cars  has a duty paid value of N35.1million. In a related development, as the anti-poultry smuggling operations enters the fourth week,   smugglers of the…

Jauro

NIMASA pledges to support stevedoring firms

The Acting Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Haruna Baba Jauro has assured Stevedoring companies of a quick resolution to some of the issues challenging their operations. The DG stated this when he played host to the Executive Committee of the National Association of…