The concluding appeal of the verdict of a San Francisco jury that absolved Chevron Corporation of any blame for the shootings of Nigerian villagers who occupied an offshore barge in 1998 has been turned down by the United States Supreme Court. This put...
The Federal Government on Monday said it would build two emergency power plants in Lagos to ensure adequate power supply in the state. President Goodluck Jonathan said this at the opening of the 6th Lagos Economic Summit tagged: ``Ehingbeti 2012``. Jon...
The Nigerian Communications Commission (NCC) says subscribers will not pay for Mobile Number Portability (MNP) service scheduled to begin in September. A statement titled `Nigeria Mobile Number Portability - Business Rules and Port Order Processes&rsqu...
Transactions on the Nigerian Stock Exchange (NSE) opened for the week on a positive note as market indices recorded further appreciation due to price gains by some blue chips. The All-Share Index, which opened at 21,756.50, appreciated by 0.10 per cent...
Bank workers in Ekpoma in the Esan West Local Government Area of Edo have vowed to paralyse commercial activities in the area, due to incessant armed robbery attacks. The workers threatened total shutdown of all banking activities, including Automated ...
Gen.Yakubu Gowon, the Chairman, Industrial and General Insurance (IGI) Plc, announced on Friday in Lagos at the that the company recorded N10.5 billion Gross Premium in 2010 financial year, which ended Dec. 31. Gowon disclosed this at the company&rsquo...
No developing nation will attain the Millennium Development Goals on reduction of child mortality, a World Bank Global Monitoring report (GMR) 2012 has revealed. The report , released at the ongoing Spring Meeting of the World Bank and the Internationa...
The World Bank and the French Development Agency (AFD) have agreed to sponsor the second phase of Rural Access Mobility Project (RAMP II) with 3.6 million dollars. Mr Ifeanyi Okereke, the Development Communication Officer of RAMP, made this known to th...
Nigeria transferred N474.34 billion to its Excess Crude Account (ECA) in February and March, Dr Yerima Ngama, the Minister of State for Finance, said in Abuja on Friday. He told to newsmen after the monthly Federation Account Allocation Committee meeti...
The Ministry of Trade and Investment has inaugurated the Technical Committee for the 2012 Trade and Investment Forum on Oil and Gas Free Zone, Onne, Rivers. Dr Samuel Ortom, the Minister of State for the ministry, who inaugurated the committee in...
The market indices of the Nigerian Stock Exchange (NSE), on Friday recorded further appreciation as the market capitalisation rose by N117 billion. The market capitalisation closed at N6.94 trillion as against N6.82 trillion posted on Thursday due to p...
The Nigeria Electricity Regulatory Commission (NERC) says Eko Distribution Company has refunded N8 million to residents of Victoria Garden City Estate in Lagos. Dr Sam Amadi, NERC chairman, told newsmen in Abuja on Friday that the money was the excess ...
World Bank Vice President for Africa, Dr Oby Ezekwesili, has charged African Leaders to make policies that would boost economic growth and reduce poverty in the region. Ezekwesili said this at the on-going Spring Meeting of the World Bank and Int...
The Central Bank of Nigeria (CBN) has concluded plans to introduce a new risk management framework known as the macro-prudential risk framework for effective management of risk in the financial sector, particularly in the banking industry, this year. C...
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has admitted the shortage of gas to power sector, declaring a 12-month gas supply emergency plan to address the situation. The minister in a statement issued in Abuja yesterday, said the...