City BusinessNews, Author at City Business News

November 26, 2015 No Responses

NCAA bars five marketers from supplying aviation fuel

The Nigerian Civil Aviation Authority has suspended five oil marketing companies from supplying aviation fuel, also called Jet A1, to local and foreign airlines operating in the country due to lack of depot facilities. According to Punch Newspaper, the companies...

November 26, 2015 No Responses

NNPC partners EFCC, DSS on fuel scarcity

Worried by the ongoing nationwide fuel scarcity, the Nigerian National Petroleum Corporation (NNPC) has implored the Department of State Services (DSS) and the Economic and the Financial Crimes Commission (EFCC) to help arrest marketers hoarding and divertin...

November 25, 2015 No Responses

NCC tasks MNOs over N30b subscribers’ loss to unsolicited SMS

Following claims by the National Association of Telecommunications Subscribers of Nigeria (NATCOMS) that telephone users in the country lose about N30 billion to unsolicited Short Message Service (SMS) monthly from the activities of Value Added Service Provide...

November 25, 2015 No Responses

CBN cuts interest rate to 11%

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (benchmark interest rate) from 13 per cent to 11 per cent. Speaking at an interactive session with Journalists after the MPC meeting explained...

November 25, 2015 No Responses

NIMASA shuts Obat Oil Jetty

The Nigerian Maritime Administration and Safety Agency (NIMASA), pursuant to its mandate as the Designated Authority (DA) for the implementation of the International Ship and Port Facility Security (ISPS) Code has shut Obat Oil and Petroleum Limited Jetty at I...

November 24, 2015 No Responses

Audu died a courageous politician, says Buhari

President Muhammadu Buhari has expressed shock over the news of the death of Abubakar Audu, the All Progressives Congress candidate in the inconclusive Kogi State governorship election. The President, who is attending the Third Gas Exporting Countries Forum ...

November 24, 2015 No Responses

FG re-affirms commitment to GECF

The Federal Government has assured the Gas Exporting Countries Forum ( GECF) of its continuous support as it struggles to surmount the challenges that the global oil and gas industry is facing. This assurance was given by President Muhammadu Buhari...

November 24, 2015 No Responses

NCC to sanction more firms

The Nigerian Communications Commission (NCC) has threatened to sanction MTN, Airtel and Globacom for defying its directive on automatic migration to Pay-As-You-Go data bundle. The Commission made this known in its ‘2015 third quarter Compliance Monitoring ...

November 23, 2015 No Responses

Akwa United wins Federation cup

Akwa United have emerged champions of the 2015 Federation Cup having silenced Lobi Stars 2-1 at the Teslim Balogun Stadium on Sunday. A fantastic first half free kick by Namso Edo and Afeez Awakan were all the Uyo based outfit needed...

November 23, 2015 No Responses

Fidelity Bank rewards more customers

FIDELITY Bank Plc’s “Save4Shelter” promotion has rewarded more customers in its second monthly draw. The bank explained that the initiative depicts its concern in meeting the basic needs of its valued customers. The reward scheme is the fifth of its...

November 23, 2015 No Responses

Olawepo-Hashim advocates single digit interest rate

Energy sector investor, Mr. Gbenga Olawepo-Hashim has called for the lowering of interest rate in the nation’s banking sector from its current double digit figure to a single one to enable investors access finance at reasonable lending rate towards the...

November 20, 2015 No Responses

Dangote Flour changes name

The management of Dangote Flour plc has notified the Nigerian Stock Exchange (NSE) of the company’s change of name. Company Secretary and Legal Adviser of Dangote Flour Plc, Aisha Ladi Isa explained that company’s new name is Tiger Branded Consumer...

November 20, 2015 No Responses

Buhari restates commitment to Privatisation

President Muhammadu Buhari has reaffirmed his Administration’s commitment to the Federal Government’s privatisation and commercialisation policy. Speaking at an audience with Peugeot’s Executive Vice President for Africa and the Middle-East, Mr. Jean-Chr...

November 20, 2015 No Responses

FG approves disbursement of $150m NNLG fund

The National Economic Council (NEC) has approved the sharing of $150 million among the three tiers of government. According to the council, the money is part of the $400 million dividends paid by the Nigerian Liquefied Natural Gas. Vice President...