Information – Page 426 – City Business News

August 31, 2018 No Responses

Nigeria To Institute Wreck Insurance Policy

In its bid to accelerate operational efficiency and navigational safety in the nation’s seaports, the Federal Government will soon institute a Wreck Insurance Policy (WIP) on all vessels calling to the Nigerian Ports. The policy, according to the Managing Director,...

August 31, 2018 No Responses

Maersk’s Fuel Costs to Rise by $2B Per Annum

The annual fuel bill of Danish shipping giant A.P.Moller Maersk is set to increase by USD 2 billion a year, at least, amid rising costs from the implementation of the 0.5 percent sulfur cap in 2020. Simon Bergulf, director for regulatory affairs...

August 31, 2018 No Responses

Vodafone Explains $11B Merger

Vodafone’s Australian operations will become part of a new telecoms giant. Under a A$15bn ($11bn; £8bn) merger Vodafone Hutchison Australia and TPG Telecom will create a mobile, fixed-line and broadband provider with the scale to rival Telstra and Optus...

August 30, 2018 No Responses

NNPC Begins Refueling Services To Ships

The Nigerian National Petroleum Corporation (NNPC) has unveiled plans to set up a subsidiary to provide refueling services to ships and other ocean-going vessels. A statement by its spokesman, Mr Ndu Ughamadu, in Abuja on Wednesday, said the move was...

August 30, 2018 No Responses

Nigeria Sanctions Standard Chartered, Stanbic IBTC, Diamond Bank, Citibank, MTN

The Central Bank of Nigeria (CBN) has imposed sanctions totaling N5.87 billion on four banks under its regulatory purview and asked same to refund the sum of $8,134,312,397.63 for what it described as ‘flagrant violation of extant laws and regulations...

August 30, 2018 No Responses

Buhari To UK Prime Minister: 2019 Election Will Be Free, Fair, Credible

President Muhammadu Buhari Wednesday in Abuja assured the UK Prime Minister Theresa May of his commitment to conducting free, fair and credible elections in 2019. In a bilateral meeting with the visiting Prime Minister, President Buhari welcomed UK’s support...

August 30, 2018 No Responses

Naira Gains Marginally Against Dollar At Parallel Market

The Naira on Wednesday gained 30 kobo to exchange at N359 to the dollar at the parallel market in Lagos, against N359.30 on Tuesday. The Pound Sterling and the Euro closed at N464 and N414, respectively. At the Bureau De...

August 29, 2018 No Responses

Total To Sell Stake In LNG Terminal To Shell

French energy major Total has decided to sell its 26 per cent equity stake in Hazira LNG regasification terminal in India to Shell which holds 74 per cent in the facility. The duo signed a binding Letter of Intent (LOI) for...

August 29, 2018 No Responses

Nigeria Lifts Forex Market With $210m

The Central Bank of Nigeria (CBN), has injected another sum of $210 million into the inter-bank Foreign Exchange Market, in its desire to ensure that forex is available for customers’ needs in various segments of the market. According to...

August 29, 2018 No Responses

FRSC Conducts 1,761 Eye Test, Discovers 350 Drivers With Sight Defects

As part of its safer motoring environment in Nigeria, the Federal Road Safety Corps (FRSC) during the 2018 Eid-El Kabir special patrol operations engaged 1761 drivers nationwide in a free and voluntary Eye Test exercise. Out of the total...

August 29, 2018 No Responses

City BusinessNews Publisher Loses Father

The Ebosele family of Atuagbo, Irrua, Esan Central Local Government Area of Edo State has announced the passing of their Father, Grand Father, Husband, Uncle and Brother, Pa Luke Ebosele at the age of 89 years. A press statement issued...

August 29, 2018 No Responses

Nigeria Mourns Ambassador Princeton Lyman

It is with deep sadness that the U.S.-Nigeria Trade Council recognizes the passing of the former United States Ambassador to Nigeria (1986-1989), Dr. Princeton Lyman. According to the U.S.-Nigeria Trade Council, United States of American, South Africa and ...

August 29, 2018 No Responses

80 Customers To Become Millionaires In UBA Wise Savers Promo

In line with its tradition of deepening the savings culture by rewarding and encouraging its loyal customers, UBA has launched a new savings promo, UBA Wise Savers Promo. The promo which is scheduled to run till September 30, 2019, will...

August 29, 2018 No Responses

NPA Backs Institution Of Procurement Engineers, Seeks Effective Implementation Of PPA 2017

Management of the Nigerian Ports Authority (NPA) has thrown its full support to the formation of the Nigeria Institution of Procurement Engineers (NIProcE) – Lagos Chapter, insisting that the establishment of the Institution would enhance the understanding a...