City BusinessNews, Author at City Business News

August 11, 2015 No Responses

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...

August 11, 2015 No Responses

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 du...

August 11, 2015 No Responses

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 ...

August 10, 2015 No Responses

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 represen...

August 10, 2015 No Responses

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...

August 8, 2015 No Responses

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 t...

August 7, 2015 No Responses

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....

August 6, 2015 No Responses

NLC lauds CBN for publishing bank debtors

THE headquarters of Nigeria Labour Congress (NLC has commended the Central Bank of Nigeria’s (CBN) directive to banks to publish names of chronic debtors. Secretary of the NLC, Peter Eson-Ozo, explained that the development would strengthen the economy. Th...

August 5, 2015 No Responses

Omatek tasks banks, others on adoption of solar technology in Nigeria

AN indigenous Information Technology (ICT) firm has, Omatek has stressed the need to fully explore solar technology in Nigeria. The management of the firm also advised industries including banks, telecommunications, medics, schools, manufacturing companies and...

August 4, 2015 No Responses

Buhari orders reduction of expenditure

President Muhammadu Buhari Monday in Abuja ordered the National Planning Commission (NPC) to go back to the drawing board and produce the framework for a 2016 national budget that will reduce recurrent expenditure and prioritize developmental projects. Preside...

August 4, 2015 No Responses

APM Terminals appoint Ransome-Kuti DMD

APM Terminals Apapa has announced the appointment of Olufemi Ransom-Kuti as its Deputy Managing Director. Olufemi brings to this role 14 years of experience in supply chain operations and project management. Before joining APM Terminals, he worked with Lafarge...

August 3, 2015 No Responses

Dangote Cement declares N121.8b in six months

DANGOTE Cement Plc has declared Profit After Tax (PAT) of N121.808 billion in the six-month period ended June 30, 2015, amounting to a 21.65 per cent increase over the N95.440 billion recorded in the same period in 2014. Detail of...

August 3, 2015 No Responses

NIMASA Redeploys Directors

THE Nigerian Maritime Administration and Safety Agency (NIMASA) has redeployed some senior management staff of the Agency. The new posting, according to acting Director General/Chief Executive Officer, Mr. Haruna Baba Jauro are expected to reposition the Age...

August 2, 2015 No Responses

Fatter ships underway

EXPERTS expect more wide-beam 14,000- to 15,000-TEU (Twenty foot equivalent) ships with 21-deck rows and 53.5 metre beams. According to Alphaliner, the wider-beam ships are coming given the popularity of wide-beamed 8,500 – 10,000-TEUers. How carri...