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China offshore oil coy to invest $3 billion in Nigeria

The China National Offshore Oil Corporation (CNOOC) is to invest an additional three billion dollars in its existing stakes in offshore oil and gas operations in Nigeria.
Cletus Ibeto

Ibeto group, Chinese coy to establish two cement plants in Ebonyi

The Ibeto Groups and Sinomas Chinese Group of Companies says they have concluded plan to construct two high-capacity cement factories in Nkalagu and Effium communities of Ebonyi.

AMCON takes over Sigma Apartments over N1 billion debt

The Asset Management Corporation of Nigeria (AMCON) has secured a Federal High Court Abuja Division to take over Sigma Apartments owned by Sigma Engineering & Construction Limited over N1 billion debt.

FRSC, LASTMA urge Lagos residents to use BRT, Waterways

The Federal Road Safety Corps (FRSC) and Lagos State Traffic Management Authority (LASTMA) have advised Lagos residents to use Bus Rapid Transit (BRT) and waterways transportation during the repair of Third Mainland Bridge.
Managing Director, Accenture Nigeria, Niyi Yusuf

Nigerian Economic Summit Group appoints two new vice chairmen

The Nigerian Economic Summit Group (NESG) has appointed Niyi Yusuf and Onyeche Tifase, who are presently Non-Executive Directors as new Vice-chairmen of the board.

Expert: Lack of corporate governance militating against businesses in Nigeria

A financial expert, Dr. Bala Mohammadu Abubakar, has identified lack of corporate governance and fiscal responsibility in both private and public sectors of Nigeria economy as the major factor militating against business activities in Nigeria.

Akwa Ibom government, Blackrhino sign MoU for new power plant project

A Memorandum of Understanding has been signed between the Akwa Ibom State Government and BlackRhino, operators of Qua Iboe Power Plant, QIPP, for the establishment of a transmission line and a power plant in the state

NMA dissolves FCT exco over alleged corruption

The Nigeria Medical Association (NMA) has dissolved its FCT chapter executive council over alleged corruption.

TCN: Power grid collapsed three times in Q2

Nigeria’s electricity generation system collapsed three times in the second quarter of this year, the latest report from the Transmission Company of Nigeria obtained on Friday in Abuja indicated.
block chain

Firm to boost agriculture trading with block-chain technology

Binkabi, a London-based start-up firm said on Saturday that it was set to boost agriculture trading through its block-chain technology.

Federal government to restrict insurance operators to areas of competence

According to Kari, the new policy would introduce a “risk-based system” where companies would be restricted to their areas of competence and abilities instead of the “rule-based system” in operation, where companies operate regardless of the level of their capital.

Eko Disco decries revenue losses over meter bypass

Mr Adeoye Fadeyibi, the Chief Executive Officer and Managing Director, Eko Electricity Distribution Company (EKEDC) on Friday said the company was recording huge revenue losses in Lekki due to meter bypass and energy theft.

Governor Ambode urges federal government to sign AfCFTA to boost export

Governor Akinwunmi Ambode of Lagos State on Thursday declared support for the African Continental Free Trade Agreement and urged Nigeria to sign the agreement.

Governor Ambode: Export inflow at LFZ to hit $6 billion by 2020

Governor Akinwunmi Ambode of Lagos State, on Thursday, said the export inflow at the Lekki Free Zone (LFZ) in Ibeju Lekki area of the state is projected to hit over $6billion (about N2.159trillion) by 2020, saying it was time for Nigeria to develop sustainable roadmap to rev up export with particular focus on multi-sector products far beyond oil.

Police apprehend recruitment scam official in Edo

The Edo State Government says the persons behind the fake recruitment agency that defrauded over 500 job seekers in Benin City, of millions of naira, for nonexistent jobs, have been arrested by the police.
AMCON chief Ahmed Kuru

AMCON to take over N5.4 trillion assets, says no more negotiations

Kuku said that AMCON had gotten tired of obligors (debtors), coming to their office and telling lies about wanting to embark on a staggered payment which they end up never paying.

Teleology Holdings gets 20 day extension for 9Mobile deal

The bid for the sale of 9mobile equities followed disagreement between Emerging Markets Telecommunication Services Limited (EMTS), formerly trading as Etisalat Nigeria, and the banks to restructure the repayment of a seven-year mid-term facility secured by the telco to service an existing loan and expand its network in 2013.

Court remands two in prison custody for fraud

Two suspects, Alhaji Bello Isah and Alhaji Abdullahi Usman, have been arraigned before the court by Economic and Financial Crimes Commission (EFCC), Gombe Zonal office, on four-count charge bordering on Conspiracy, Forgery and Obtaining Goods by false pretence.

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Gabriele Volpi

Arbitration court orders Gabriele Volpi to pay self $360m of $600m owed by OODP...

The principals have chosen to speak as there were concerns that Volpi’s press release implied that they, Whitmore Limited, had a total indebtedness of $680 million.
President Buhari attends Grand Finale of APC Gubernatorial Campaign Rally in Ado Ekiti State on 10th July 2018

Asiwaju Tinubu: Kayode Fayemi’s election is victory for Ekiti people

National Leader of the All Progressives Congress, (APC) Sen. Bola Tinubu, on Sunday said the election of Dr Kayode Fayemi in Saturday’s gubernatorial poll was a victory for the people.
Femi Kuti

Keeping father’s protest torch lit, Femi Kuti sees hope

Femi Kuti has spent his life railing in song against the ills holding back Africa. But these days he is feeling some optimism.
Kayode Fayemi

Governor Ajimobi: Kayode Fayemi’s victory a demonstration of Ekiti people’s faith in APC

Oyo State Governor, Senator Abiola Ajimobi, has described the victory of Dr. Kayode Fayemi in the just-concluded gubernatorial election in Ekiti State as a demonstration of the people’s trust in the All Progressives Congress (APC) as a party that has the capacity to liberate the state from mis-governance and gross under-development.
Kayode Fayemi

Ekiti guber: Edo APC holds victory rally for Kayode Fayemi

The Edo State Chapter of the All Progressives Congress (APC), held a victory rally to celebrate the success of the party’s candidate in Saturday’s governorship election in Ekiti State, Dr. John Kayode Fayemi, who has been announced winner of the polls.