News – Page 736 – City Business News

April 7, 2017 No Responses

World’s 1st Ship tunnel step closer to construction

Norway’s Stad Ship Tunnel project, also known as the world’s first full-scale ship tunnel, is moving toward construction process. Already, about $173million has been earmarked for the project in the first half of the planning period (2018 – 2029). The project’s full...

April 6, 2017 No Responses

Weststar unveils all-new Mercedes-Benz Accelo

Weststar Associates Limited, Authorized General Distributors of Mercedes-Benz commercial and passenger vehicles in Nigeria has unveiled new medium duty truck for city and short distance operations. According to the company, the all-new Accelo 915C is the first...

April 6, 2017 No Responses

Customs impounds N250m contrabands in March, recovers N48.7m underpayments in Zone ‘C’

For the month of March 2017, the Federal Operations Unit (FOU), Nigeria Customs Service (NCS), Zone ‘C’ Owerri impounded 17 items with duty paid value of N112,617,700. The unit during its anti-smuggling operations in March also intercepted and detained a.....

April 6, 2017 No Responses

FG clears N54b pension backlog

Concerned about the plight of pensioners who retired under the Contributory Pension Scheme without being paid, the Federal Government has cleared the inherited arrears of accrued pension benefit for the year 2014, 2015 and 2016 by releasing N41.5 billion to...

April 6, 2017 No Responses

Minister seeks support for Nigerian TV, film content producers

The Minister of Information and Culture, Alhaji Lai Mohammed, onWednesday hailed Nigerian TV and film content producers for their impressive work in deepening the industry, but challenged them to do more to tell the Nigerian story and do more of co-production...

April 6, 2017 No Responses

‘How criminal gangs use UK ports to defraud EU customs’

By Andrew Hosken (BBC) Systematic failures by UK customs officials have allowed criminal gangs to defraud the European Union of at least £2bn in just four years plus billions more in lost VAT, the EU anti-fraud office OLAF has claimed....

April 5, 2017 No Responses

Buhari: State Govts critical to economic success

President Muhammadu Buhari has challenged State Governments across the country to draw inspiration and strategic direction from Federal Government Plan to articulate their economic programmes, particularly in the development of the real sector. Speaking on Wed...

April 5, 2017 No Responses

Wema Bank reopens Kaduna branch

Wema Bank Plc has reopened its Kaduna branch to provide banking services to individuals and firms with good growth opportunities. According to the Bank, the new branch will offer retail and SME banking, corporate banking, treasury, trade services and financial...

April 5, 2017 No Responses

Recover $22b, N316b from NNPC, NEITI tells FG

The Nigeria Extractive Industries Transparency Initiative (NEITI) has urged the Federal Government to recover $22b, N316b from the Nigerian National Petroleum Corporation (NNPC). Presenting it report to Journalists on Tuesday in Abuja, Executive Secretary of N...

April 5, 2017 No Responses

FG to boost agriculture with $4.5b Chinese loan

Inline with the resolve of the Federal Government to diversify the economy especially through agriculture, President Muhammadu Buhari has authorised the Ministry of Finance, Budget and National Planning and the Central Bank of Nigeria (CBN) to work out technic...

April 5, 2017 No Responses

Obaseki restates commitment to improve education

Governor Godwin Obaseki of Edo State has reiterated his administration’s commitment to improving the standard of education in the state. Obaseki stated this when he received executive members of the Idia College Old Girls Association (ICOGA) at the Edo State...

April 5, 2017 No Responses

NSE Photo News

L – R: Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Bank PLC; Mr. Oscar N. Onyema, OON, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Mrs. Sola David-Borha, Chief Executive (Africa Regions), Standard Bank Group; Mr. Yinka Sanni, Chief Exec...

April 4, 2017 No Responses

CBN sets aside $90m for BTA, Medicals

As part of efforts to stabilize the naira, Central Bank of Nigeria (CBN), on Monday, released the sum of $90 million to meet requests for invisibles such as BTA/PTA, medical and school fees. Also, the Bank offered a total of $150 million...

April 4, 2017 No Responses

Shell to fuel world’s 1st LNG-Powered Aframax Tankers

Russia’s SCF Group (Sovcomflot) has signed an agreement with Shell Western LNG B.V. (Shell) for the supply of liquefied natural gas (LNG) to fuel the first Aframax crude oil tankers in the world to be powered by LNG. Under the...