MTN Group Limited in South Africa has appealed to the Nigerian Communications Communications (NCC) to review downward the $5.2 billion fine by 80 per cent. Bloomberg reported that the head of research of Renaissance Capital (RenCap) in Nigeria, Mr. Adesoji…
FG approves N413b for Oil Marketers
The Federal Government has approved the payment of N413 billion to petroleum products marketers being the outstanding payment for subsidy claims. In a statement, the Nigerian National Petroleum Corporation (NNPC) explained that it has also injected additional volumes of Premium…
VW gets 7-day ultimatum
The Consumer Protection Council (CPC) has issued a seven-day ultimatum to Volkswagen Nigeria to provide information on the status of its vehicles in relation to the emissions cheating software, which has allegedly affected 11 million cars worldwide. In a letter…
CBN clears Stanbic IBTC
REQUEST by the Financial Reporting Council of Nigeria (FRCN) to takes disciplinary action against Stanbic IBTC Holding Company Plc (SIBTCH) has been rejected by the Central Bank of Nigeria (CBN). According to CBN, FRCN did not follow due process in…
NSE may sanction Oando
The Nigerian Stock Exchange (NSE) may sanction Oando Plc over alleged delayed filing of its Audited Financial Statements (AFS) for the year ended December 31, 2014, its first quarter and half year. Already, Oando has been sanctioned for violations of…
‘New Lifting Terms Will Abolish Hawking of Crude Oil’
THE management of Nigerian National Petroleum Corporation (NNPC) has explained that new measures put in place to select new off-takers of Nigeria’s crude oil grades will eliminate ‘hawking’. The Corporation, which received 278 bids from indigenous and foreign firms seeking…
Customs appoints six DCGs, eight ACGs
The Comptroller-General of Nigeria Customs Service, Colonel Hameed Ali (rtd), has approved the appointment of six acting Deputy Comptrollers-General of Customs in the ongoing re organisation in the Service. According to a press statement signed by NCS Public Relation Officer,…
NCC task consumers on poor service delivery
THE Nigerian Communications Commission (NCC) has challenged consumers to report poor quality of service to the commission. NCC Director in charge of Consumers Affairs Bureau, Abuja, Alhaji Abdullah Maikano made the appeal in Offa, the headquarters of Offa local government…
Osinbajo decries state of Southeast roads
The Vice President, Prof. Yemi Osinbajo, has described dilapidated road networks as a major challenge to the people of Southeast. According to Osinbajo, despite Federal Government’s financial constraints, there is need to make improvements on roads in the South East….
Fidelity Bank declares N11.4b profit in Q3
For the third quarter ended September 30, 2015, Fidelity Bank Plc recorded Profit After Tax (PAT) of N11.4billion and gross earning of N106 billion, indicating an increase of 1.8 per cent and 11.0 percent respectively. According to the bank, Gross…
NCC explains MTN sanction
The National Communications Commission (NCC) has described as untrue reports in some quarters that it singled out MTN Nigeria for penalty over non-compliance with the deadline to deactivate all subscribers’ unregistered SIM cards on its network. The commission’s director of public…
FG rejects Naira devaluation
The Vice President, Prof Yemi Osinbajo has ruled out the possibility of devaluing the naira, explaining that it was not an appropriate option in the current economic realities. Osinbajo reiterated the government’s position while receiving the Italian Ambassador in Nigeria,…
Customs DCGs resigns
Five Deputy Comptroller-Generals of Nigeria Customs Service (NCS), yesterday offered to voluntarily resign from service. In a letter dated October 29, 2015 and titled “Voluntary Retirement”, the senior Customs officers reportedly said: “We, the under-listed officers currently on the rank…
Senate rejects N64b budges for second Abuja Airport runway
The Senate has described the proposed N64b budget for the second runway for Nnamdi Azikiwe International Airport as “bogus and too high’. In a motion sponsored by Senator Dino Melaye APC, Kogi West, Senate acknowledged the fact that a second…