Finally, we have something to take home. Some say half bread is better than none. It was a great relief as Nigeria now has a medal at the Rio Olympics and it came from the Dream Team VI which beat…
South Korea probes 23 automakers
South Korea has expanded an investigation into the fabrication of emissions and noise-level test results to all foreign car brands after fining Volkswagen Group for violations. The environment ministry last week started a probe on 23 foreign automakers involving 110…
Hyundai Genesis gets remote auto controls
Genesis, Hyundai’s new luxury division, will be the first company to allow users to control a variety of car functions remotely using Amazon Alexa voice commands. An increasing number of automakers have smartphone connectivity to their vehicles. But the Genesis…
NSC seeks truck transit park in Anambra, Imo, others
The Nigerian Shippers’ Council (NSC) has called on Eastern State Governments to support the development of Truck Transit Park (TTP) for the growth of the nation’s maritime industry. The Chief Executive Officer of the Council, Mr. Hassan Bello, who was…
Customs impounds 14,000 bags of rice at Tin-Can Island Command
The Nigeria Customs Service (NCS), Tin-Can Island Command has intercepted 31 containers of 14,000 bags of rice. Briefing Journalsits on Friday, the Comptroller General of Customs, Col Hameed Ali (rtd), represented by Deputy Comptroller Generals Dan Ugo and Iya Abubakar…
SIFAX partners AES, Hyundai on vehicle importation service
SIFAX Group has launched its vehicle importation service in conjunction with foremost international shipping agent, Auto Export Shipping (AES) and Hyundai Glovis, the logistics arm of Hyundai KIA Automotive Group. At the formal reception of the first vessel, MV Glovis…
Ford targets autonomous vehicle for 2021
Ford has announced its intention to have a high-volume, fully autonomous SAE level 4-capable vehicle in commercial operation in 2021 in a ride-hailing or ride-sharing service. To get there, the company is investing in or collaborating with four startups to…
FCMB blames NPA for non-remittance of funds
By Moses Ebosele – The management of First City Monument Bank (FCMB) has admitted receiving Euro payments for Nigerian Ports Authority (NPA). Briefing the Nigerian Stock Exchange (NSE) in a statement obtained by City BusinessNews (www.citybusinessnews.com) on Thursday,…
Buhari tasks African Central Banks on repatriation of stolen funds
President Muhammadu Buhari has urged African Central Banks to play crucia role in the repatriation of stolen funds. Speaking at a meeting of the association of central bank governors in Abuja, Buhari called for the removal of all bureaucracies…
Appeal Court nullifies Judgment sacking Ikpeazu as Governor
The Court of Appeal sitting in Abuja on Thursday upturned the judgments of Justice Okon Abang-led Federal High Court in Abuja which removed Governor Okezie Ikpeazu of Abia State from office. Ikpeazu’s appeal was in regard to the ruling delivered…
Kano registers 1,042 for mass wedding
(NAN)The Kano State Hisbah Board said on Thursday that it had registered 1, 042 prospective couples in 18 local government areas of the state for the state government’s mass wedding programme. The Director-General of the board, Abba Sufi, told the…
First Bank denies alleged concealment of NPA’s N11.2Billion
By Moses Ebosele – First Bank Nigeria has denied any involvement in the alleged concealment of N11.2 Billion belonging to the Nigerian Ports Authority (NPA). In a statement sent to the Nigerian Stock Exchange (NSE) and obtained by City BusinessNews…
GTBank proposes 25k interim dividend
For the half year ended June 30, 2016, Guaranty Trust Bank Plc has proposed 25 kobo interim dividend. In its report to the Nigerian Stock Exchange (NSE), the Bank also declared gross earnings of ₦209.9 billion, an increase of 37…
FG raises committee on 13 % derivation for Lagos
By Ibhade John – A committee charged with the responsibility of disbursing 13 per cent Derivation Fund to Lagos State has been raised by the Federal Government. Chairman of the Indices and Disbursement Committee of the Revenue Mobilisation Allocation…