City BusinessNews, Author at City Business News

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 Abdullahi,...

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 ...

July 27, 2015 No Responses

Diamond Bank revenue hits N103b in six months

The revenue of Diamond Bank Plc for the first six months of this year increased by six per cent to N103billion from N96.8billion recorded during the corresponding period in 2014. The bank’s unaudited half-year result released to the Nigerian Stock...

July 27, 2015 No Responses

NRC flags off Kano – Port Hacourt trains services

The Nigerian Railway Corporation (NRC) has flagged- off Kano- Port- Harcourt Inter City Train Service to facilitate transportation of goods from the Northern part of the country to the South South. Speaking at the flag- off ceremony in Kano, the...

July 22, 2015 No Responses

Obi takes over as acting NIMASA DG

Barrister Calistus Nwabueze Obi has taken over as the Acting Director General/Chief Executive Officer of the Nigerian Maritime Administration and Safety Agency (NIMASA) following the handing over by Dr. Ziakede Patrick Akpobolokemi as directed by the Federal G...

July 22, 2015 No Responses

Why Innoson sued GTBank for N30 billion

What would make a company sue another for N30 billion? That was the question on the lips of many when the news recently broke that four companies under the Innoson Group, including Nigeria’s first indigenous automobile manufacturing company (Innoson Vehicle....

July 22, 2015 No Responses

FirstBank partners Digital Africa Global on exhibition

FIRST Bank of Nigeria Limited partnered Digital Africa Global Consult Limited to host the 3rd Digital Africa Conference & Exhibition. The event, which commenced yesterday and scheduled to end tomorrow, is titled: “Expanding Africa’s Capacity for Digita...