47 airlines collapsed in 30 years in Nigeria
Airline operators in Nigeria have opened up on why airlines have been nose-diving after establishment in the last 30 years. While highlighting harsh operating environment as the key factor, they revealed before the House of Representative Committee on that 47…
MAN observes foul play in forex allocation by commercial banks
Two month after the federal government ordered the dedication of 60% allocation of forex to manufacturers to boost export driven diversification, operators in the manufacturing sector are alleging sharp practices and favouritism among banks in the allocation of foreign exchange…
Forensic experts trailing MTN’s $13.9bn transfer as actors meet Senate today
International and local forensic experts hired by the Senate to track the alleged wiring of $13.9bn by MTN Nigeria and others in the last 10 years started work since Monday this week, ahead of today’s meeting with the Senate Committee…
2nd sale of Lagos crude oil expected before year end
Core investor and operator at the Aje field, in the Oil Mining Lease 113 offshore Lagos, Yinka Folawiyo Petroleum Company Limited is set for another shipment of crude before the end of the year. The first sale was in August…
Nipco picks lead stake as ExxonMobil exits downstream oil sector
There are apparent indications that the United States-based ExxonMobil has divested its 60 per cent stake in Mobil Oil Nigeria Plc to Nipco Plc, an indigenous Nigerian downstream oil and gas company. With this development, Total remains the only international…
Confusion in Imo as Okorocha plans to demolish Ekeukwu Owerri
Imo State Governor, Owelle Rochas Okorocha, has ordered traders at the Ekeukwu Owerri Main Market and street traders in the state capital to relocate to the Relief or the new Egbeada Markets so that construction work can begin at the…
16 Nigerian startups featured at GITEX 2016, Dubai
As GITEX Technology Week 2016 winds up in Dubai, some 16 Nigerian start ups had showcased innovative technologies from some major ICT firms including Precise financial Systems (PFS) and Systemspecs, providers of the Remita solutions. It would be recalled that…
National Code of Corporate Governance now effective
Sanity may be underway in many corporate establishments as the much awaited National Code of Corporate Governance 2016 sponsored by the Financial Reporting Council of Nigeria (FRC) has become effective this month. The Code comes in three parts, which are,…
Beware of Chinese desperate to invest in Nigeria, Nigerians warn FG
Some Nigerian businessmen who are conversant with industrial practice in China has called on the federal government to review Nigeria’s industrial policy and labour laws before allowing the Chinese to invade the economy. They say China is good in exploring…
Rising oil price will boost, disrupt economy—Experts
Since oil price started to make a steady upward movement, experts have started to look at the implications. Between Tuesday and yesterday, global oil price hovered at over $50 per barrel mark. Economic and energy experts said the price rally…
