Nigeria Archives — Page 586 of 588

December 4, 2015 No Responses

FG reduces MTN fine to N674b

The Federal Government through the Nigerian Communication commission (NCC) has reduced MTN fine from N1.otrillion to N674 billion. Meanwhile, the South African telecommunication giant has announced the resignation of the head of its Nigerian operations, Michael Ikpoki and the head...

December 4, 2015 No Responses

LCCI to inaugurate Akande as president Saturday

The Lagos Chamber of Commerce and Industry (LCCI) has concluded plans to formally inaugurate Chief (Mrs.) Nike Akande, as President of the Chamber on Saturday 5th December, 2015 at an Investiture Ceremony billed to hold at the Grand Ball Room...

December 3, 2015 No Responses

$8.3b rail project tops agenda as Buhari meets chinese leader

President Muhammadu Buhari will today in South Africa participate in the Forum on China/Africa Cooperation (FOCAC) taking place in Johannesburg. A statement issued by the Senior Special Assistant to the President, Garba Shehu, explained that President Bu...

December 3, 2015 No Responses

Govt insists on use of technology for development

President Muhammadu Buhari’s administration is interested in using technology to fast track the country’s growth and development, Vice President Yemi Osinbajo has said Speaking while signing a Memorandum of Understanding (MoU) between the Federal Governm...

December 3, 2015 No Responses

FG to raise N50b in 2020, 2024 bonds

The Federal Government has concluded plans to raise N50 billion in local currency denominated bonds maturing in February 2020 and March 2024 at its last debt auction of the year on Dec. 9. According to the Debt Management Office (DMO),...

December 3, 2015 No Responses

Senate restates ban on rice importation

The Senate has criticized the lifting of ban placed on rice importation and urged the Presidency to prevail on the Nigeria Customs Service (NCS) to immediately restore it. Adopting the report of the Ad-hoc Committee on Import Duty Waivers, Concessions...

December 2, 2015 No Responses

CBN cautions against weak corporate governance practices

The Central Bank of Nigeria (CBN) has reiterated its commitment to ensure zero-tolerance to weak corporate governance practices in the country. According to the CBN Deputy Governor in charge of Financial System Stability, Dr.Okwu Joseph Nnanna, who spo...

December 2, 2015 No Responses

Osibanjo decries over-dependence on oil

The Vice-President, Yemi Osinbajo has described Nigeria’s over-dependence on oil resources as a major factor responsible for the high level of corruption in the country. He also identified restiveness and agitation for resource control, especially in the S...

December 2, 2015 No Responses

Senate approves N574.5b supplementary budget

The Senate on Tuesday passed N574,532,726,857 billion as the 2015 supplementary budget. Under the arrangement, it is N108,895,800,000 billion higher than the N465,636,926,857 billion proposed by President Muhammadu Buhari to the National Assembly for appro...

December 2, 2015 No Responses

PwC predicts drop in ageing power infrastructure by 2020

A survey put together by PricewaterhouseCoopers (PwC) has predicted that ageing infrastructure is expected to significantly reduce in the next five years (2020). Quoting Chief Executive Officers (CEOs) of power and utilities companies in Nigeria, the survey ...

December 1, 2015 No Responses

CBN approves extension of BVN registration for military

The Central Bank of Nigeria (CBN) has approved the extension of the Biometric Verification Number (BNV) registration for men of the armed forces to enable them access their salaries. Speaking before the Senate Committee on Appropriation’s public hearing on...

December 1, 2015 No Responses

Buhari approves Nigeria’s action plan to tackle climate change

AS part of measures to tackle climate change, President Muhammadu Buhari has approved the submission of Nigeria’s Intended Nationally Determined Contributions (INDC) to United Nations Framework Convention on Climate Change (UNFCCC). In a statement, the Pre...

December 1, 2015 No Responses

NNPC, others to harmonise subsidy claims

The Senate has directed the Ministry of Petroleum, Nigerian National Petroleum Corporation (NNPC) and other relevant stakeholders to harmonise subsidy claims for October to December 2015. Sen. Danjuma Goje, Chairman, Senate Committee on Appropriation, gave the...

November 26, 2015 No Responses

NCAA bars five marketers from supplying aviation fuel

The Nigerian Civil Aviation Authority has suspended five oil marketing companies from supplying aviation fuel, also called Jet A1, to local and foreign airlines operating in the country due to lack of depot facilities. According to Punch Newspaper, the compani...