City BusinessNews, Author at City Business News

July 30, 2015 No Responses

NAC faults report on auto policy

THE National Automotive Council (NAC) has described Citybusiness story titled “Govt probes auto policy” as “unfair to the automotive industry.” Reacting to the story onbehalf of NAC, Director Policy and Planing, Luqman Mamudu said Assembling of vehicles is not rocket...

July 30, 2015 No Responses

Tension over review of port concession agreements

TENSION has enveloped the maritime sector over plans by the Federal Government to commence review of the concession agreement it entered with private terminal operators Investigation conducted by City Businessnews revealed that all the terminal operators are...

July 30, 2015 No Responses

Banks confisticates states’ bailout funds

The Governor of Zamfara State, Abdualziz Yari, has said the $2.1 billion dividend paid into the Federation Account by the Nigeria Liquefied Natural Gas Company (NLNG), which the Federal Government used to bail out debtor- states, were seized by some banks...

July 29, 2015 No Responses

NAICOM tasks insurers on GDP

(Naicom’s Commissioner for Insurance, Fola Daniel) The National Insurance Commission (NAICOM) has challenged the nation’s insurance industry to draw action strategies to strengthen ongoing governmental Efforts at increasing insurance industry’s contribut...

July 29, 2015 No Responses

Govt. probes auto policy

THE Federal Government through the Nigeria Customs Service (NCS) has commenced a detailed investigation on implementation of Nigeria’s automotive policy. The Public Relation Officer of NCS, Wale Adeniyi who revealed the development in Lagos said relevant fir...

July 28, 2015 No Responses

Customs shut down Stallion, over N23.6billion debt

The Nigeria Customs Service (NCS) today in Lagos shut down the premises of Stallion/Popular Foods, Masco Agro, Ebony Agro and Conti Agro over alleged N23.6 Billion debt. Represented by Public Relation Officer, the Comptroller General of NCS, Dikko Inde Abdulla...

July 28, 2015 No Responses

Eastern ports relevant to national development, say NPA MD

THE Managing Director of Nigerian Ports Authority (NPA), Alhaji Sanusi Lamido Ado Bayero has reiterated that the Eastern Ports remain relevant in future maritime development in the country. He therefore implored stakeholders in the Eastern Ports to realise t...

July 28, 2015 No Responses

FBN Money Market Fund retains ‘Aa (f)’ rating

The FBN Money Market Fund managed by FBN Capital Asset Management has retained its Agusto & Co fund risk rating of ‘Aa(f)’. A statement issued by FBN Capital Limited explained that the rating are considered to have minimal low risk...

July 28, 2015 No Responses

AMCON threatens to publish list of loan defaulters

The Asset Management Corporation of Nigeria (AMCON) has advised loan defaulters to immediately pay up their debts or it would publish their names in line with a directive by the Central Bank of Nigeria (CBN). In a statement, AMCON warned...

July 28, 2015 No Responses

PENGASSAN seeks payment of cash call areas on JV funding

THE Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government to put machinery in place for the payment of cash call in the Nigerian National Petroleum Corporation (NNPC) Joint Venture (JV) operations with...

July 28, 2015 No Responses

Jauro resumes as NIMASA acting DG

Mr. Haruna Baba Jauro has formally taken over from Barrister Calistus Nwabueze Obi as the Acting Director General/Chief Executive Officer of the Nigerian Maritime Administration and Safety Agency (NIMASA). The handover ceremony took place in the Agency on Mond...

July 27, 2015 No Responses

NLNG train 7 targets 2018

BARRING any last minutes change of plans, the Nigerian Liquefied Natural Gas (NLNG) train 7 may come on stream in 2018. The NLNG is jointly owned by the Nigeria National Petroleum Corporation (NNPC), 49 per cent, Shell (25.6 per cent),...

July 27, 2015 No Responses

Shareholders fault LCCI on Bank debtors, tackles GTBank board

AS controversy continues to trail the Central Bank of Nigeria (CBN) directives to banks to publish names of all debtors on or before August 1, 3015, members of Proactive Shareholders Association of Nigeria (PROSAN) have thrown their weight behind the...

July 27, 2015 No Responses

Ports must operate daily including weekends and public holidays, says STOAN

Ports are essential services obligated to remain open at all times including weekends and public holidays, says the Seaport Terminal Operators Association of Nigeria STOAN. In a statement issued at the weekend by its spokesperson, Bolaji Akinola, STOAN said ...