News – Page 786 – City Business News

August 17, 2015 No Responses

NNPC probes oil contracts

THE Federal Government through Nigerian National Petroleum Corporation (NNPC) has commenced review of all Production Sharing Contracts, Joint Venture Agreements and all other contracts between it and its various partners. Meanwhile, the NNPC is to meet today with key officials...

August 14, 2015 No Responses

Flour Mills to merge subsidiaries

THE management of Flour Mills of Nigeria Plc (FMN) has announced plan to conduct a restructuring by merging five of its subsidiaries with its holding company under a scheme of External Restructuring. According to the Group Managing Director, Flour Mills,...

August 13, 2015 No Responses

Buhari reinstates former NPA MD

President Muhammadu Buhari has terminated the appointment of the Managing Director of the Nigerian Ports Authority (NPA), Alhaji Sanusi Ado Bayero. The termination of Alhaji Bayero’s appointment is with immediate effect. A statement by the presidential s...

August 13, 2015 No Responses

NLNG not funding Badagry Dockyard, says BSMEC

The Badagry Ship Repair and Maritime Engineering Company (BSMEC) has responded to the ongoing controversy which trailed its recent decision to site a $1.5bn Dockyard project in Badagry, Lagos State. Speaking in Lagos on behalf of the consortium, Dr. Taiwo...

August 12, 2015 No Responses

At NSE, Berger paints pledges to lift shareholders returns

THE Managing Director and Chief Executive Officer of the Berger Paints Nigeria Plc, Mr. Peter Folikwe has pledged to lift shareholders returns.Speaking while addressing the management of the Nigerian Stock Exchange (NSE) during a courtesy visit, he said the co...

August 11, 2015 No Responses

Ministry under scrutiny over alleged diversion of N119b railway fund

President Muhammadu Buhari has queried the Ministry of Finance over alleged diversion of N119billion foreign loans secured to expand and develop rail projects. The loans were secured by the former administration of President Goodluck Jonathan. Buhari wan...

August 11, 2015 No Responses

FAAN canvasses quality aviation fuel

THE Federal Airports Authority of Nigeria, (FAAN) has enjoined aviation agencies to initiate quality control mechanism to strengthen and make Jet A1, the fuel used by aircraft safer. Managing Director of FAAN, Saleh Dunoma, an engineer, stated this du...

August 11, 2015 No Responses

Etisalat tackles NCC in court over alleged undue advantage to MTN

COME September 25, 2015, Justice Mohammed Idris of the Federal High Court in Lagos will hear a suit filed by mobile telecommunications giant, Etisalat Nigeria against the Nigerian Communications Commission (NCC) over alleged unhealthy competition and undue ...

August 10, 2015 No Responses

FIRS earns N1.97 trillion in six months

THE Federal Inland Revenue Service (FIRS) generated N1.97 trillion in revenue in the first half of this year. Acting Executive Chairman of FIRS, Mr Sunday Ogungbesan, made the disclosure in Lagos at the weekend. According to Ogungbesan, the figure represen...

August 10, 2015 No Responses

Customs FOU arrest 30 suspects

THE Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone “C” Owerri, last month made 48 seizures, worth a Duty Paid Value (DPV) of one hundred and ninety-seven million, three hundred and eighty-five thousand and seven hundred and forty...

August 8, 2015 No Responses

Customs intercepts five 2015 Toyota Corolla

THE Headquarters Monitoring Team of Nigeria Customs Service (NCS) has intercepted five 2015 Toyota Corrola along Lagos-Shagamu Expressway. A statement issued by NCS explained that the cars has a duty paid value of N35.1million. In a related development, as t...

August 7, 2015 No Responses

NIMASA pledges to support stevedoring firms

The Acting Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Haruna Baba Jauro has assured Stevedoring companies of a quick resolution to some of the issues challenging their operations. The DG stated this when he played....

August 6, 2015 No Responses

NLC lauds CBN for publishing bank debtors

THE headquarters of Nigeria Labour Congress (NLC has commended the Central Bank of Nigeria’s (CBN) directive to banks to publish names of chronic debtors. Secretary of the NLC, Peter Eson-Ozo, explained that the development would strengthen the economy. Th...

August 5, 2015 No Responses

Omatek tasks banks, others on adoption of solar technology in Nigeria

AN indigenous Information Technology (ICT) firm has, Omatek has stressed the need to fully explore solar technology in Nigeria. The management of the firm also advised industries including banks, telecommunications, medics, schools, manufacturing companies and...