News Archives — Page 643 of 649

November 5, 2015 No Responses

Court restrains FRC

The Federal High Court sitting in Lagos has restrained the Financial Reporting Council of Nigeria (FRCN) from interfering with the operations of Stanbic IBTC Holdings (SIBTCH), Plc. The court order came two days after the Central Bank of Nigeria (CBN)...

November 5, 2015 No Responses

MTN seeks review of $5.2b fine by 80%

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...

November 5, 2015 No Responses

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 ...

November 4, 2015 No Responses

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 lette...

November 4, 2015 No Responses

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...

November 4, 2015 No Responses

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...

November 3, 2015 No Responses

‘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 indigenou...

November 3, 2015 No Responses

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 R...

November 2, 2015 No Responses

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 lo...

November 2, 2015 No Responses

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 ...

November 2, 2015 No Responses

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...

October 30, 2015 No Responses

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 Ambas...

October 30, 2015 No Responses

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-lis...

October 29, 2015 No Responses

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...