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Nigerian bank boosts oil production with $200 million facility

The United Bank for Africa Plc (UBA) has announced a $200 million facility support to boost Nigeria’s crude oil production capacity.

GSI: Banks notify customers of move to seize debtors’ funds

As the Global Standing Instruction (GSI) policy of the Central Bank of Nigeria (CBN) came into force at the weekend, many commercial banks have notified customers of their readiness to seize debtors’ funds across financial sector.
Niger Delta Development Commission (NDDC)

AGF queries NDDC over non-payment of over N70 billion unremitted tax, revenue

The last is yet to be heard about the entrenched corruption in the Niger Delta Development Commission (NDDC) as the office of the Auditor General of the Federation (oAuGF) queried the Commission over N70 billion and secrecy shrouded in the multi-million dollar revenues paid by oil firms into the coffers of the Commission since inception.
Mr. Haruna Momoh, a former managing director of the Pipelines and Product Marketing Company (PPMC), and his wife, Eileen have berated the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and accused it of mischief following its claim that it obtained an interim injunction to seize about N2.9 billion naira belonging to the couple. The ICPC said it traced the cash to bank accounts in Nigeria.

Former PPMC boss used wife to launder $700 million – witness tells court

Mrs Jane Asuquo, an Independent Corrupt Practices and Other Related Offences Commission (ICPC)’s witness, on Wednesday, told a Federal High Court, Abuja, that Haruna Momoh, former Managing Director, Pipelines and Products Marketing Company (PPMC), used his wife, Ochuko, to launder the agency’s 700 million dollars.

Akwa Ibom deputy governor warns public of ‘palliative’ online scammers

The Akwa Ibom Deputy Governor Mr Moses Ekpo, warned online scammers against using his name for a fake COVID-19 empowerment scheme intended to defraud members of the public.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigerian stock indices grow by 0.30 per cent on first trading day in May

The Nigerian Stock Exchange (NSE) resumed trading for the month of May with an increase of 0.30 per cent just as the country eases lockdown.

Kogi medical doctors reject salary cut

Members of the Kogi State Chapter of the Nigerian Medical Association (NMA) have vowed not to accept the proposed cutting of salaries of its members and other healthcare workers by the Kogi Government.

Union Bank posts N42.6 billion gross earnings in first quarter of 2020

Union Bank of Nigeria Plc on Wednesday announced gross earnings of N42.6 billion in its unaudited financial statements for the first quarter ended March 31, 2020.

Aggrieved shareholders write UK agency to stop sale of Nigerian bank subsidiary

Aggrieved Nigerian shareholders have approached the British Financial Conduct Authority to urgently stop the sale of Union Bank UK PLC, a subsidiary of Union Bank of Nigeria pending the conclusion of the investigation of how no fewer than 65,000 Nigerian shareholders of the bank were dispossessed of their shares.
A new Chinese coronavirus, a cousin of the SARS virus, has infected hundreds since the outbreak began in Wuhan, China, in December.

Banks shut branches over employee’s contact with virus patient

The bank said another employee at the same branch was at the Africa Magic Viewers’ Choice Awards on March 14. Lagos State Government said the event was attended by someone who later tested positive for coronavirus. It advised everyone who attended the industry event to self-isolate.

Union Bank asks some staff to work from home

Union Bank of Nigeria said on Sunday that some of its workers would work from home from Monday and also quickly denied social media report that it would shut down its daily operations because of the coronavirus pandemic.
Nigerian Stock Exchange NSE

NSE market indicators record 0.12 per cent loss

Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday with a loss of 0.12 per cent, driven by investors’ sell-off of UBA, FBN Holdings and Lafarge Africa.
PDP and Wada are challenging the declaration of Yahaya Bello of the APC as winner of the November 16, 2019 governorship election held in the state.

Kogi establishes Mopol base along Obajana-Kabba road

The Kogi Government in partnership with the Nigeria Police Force said it has established two Mobile Police Squadron Bases along Obajana-Kabba road and in Okene.

EFCC quizzes former Abia governor, sons over ‘N150 billion fraud’

The Economic and Financial Crimes Commission (EFCC) has launched a massive probe into alleged looting of over N150 billion by the immediate past governor of Abia State, Chief Theodore Orji, and members of his family.

Osun: Three to die by hanging for bank robbery

Justice Jide Falola of Osun State High Court in Ikirun on Thursday sentenced three men to death for bank robbery.
Nigerian Stock Exchange NSE

NSE: Trading defies inflation figure, index up 0.90 per cent

The Nigerian Stock Exchange (NSE) All-Share Index on Friday rose by 0.90 per cent in spite of rise in inflation rate recorded in December 2019.

Nigerian banks attract $4.74 billion foreign investments in six months

Data obtained from the National Bureau of statistics showed that the amount of investment attracted by 22 banks accounted for 33.16 per cent of the total amount of foreign investment recorded in the first half of the year, which stood at $14.31bn.

203 former employees drag Union Bank to court

No fewer than 203 former employees of the Union Bank of Nigeria Plc on Thursday dragged the bank before the National Industrial Court, Ibadan, over unpaid N16.2bn balance of pension entitlements.

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Barcelona failed in their attempt to replace Quique Setien with Arsene Wenger

Arsene Wenger is so synonymous with Arsenal that it would be strange to see him take over at another club, but it sounds like he’s turned down the chance to take over at Barcelona.

UITH resident doctors suspend three days warning strike

The Association of Resident Doctors (ARD), University of Ilorin Teaching Hospital (UITH) Chapter, on Wednesday suspended its three days warning strike over assault on its members.
Earlier this month, UEFA indefinitely suspended the Champions League, Europa League and the European Championship playoffs amid the ongoing concerns due to the COVID-19 pandemic.

UEFA approves 210 bottles of water per team, cancels shirt swaps

UEFA has released strict guidelines for the eight clubs kicking off the Champions League knockout stage in Lisbon with the Atalanta, PSG fixture opening the campaign right away.

Nigerian Navy disown ‘fake press release’ inviting candidates for NNBTS Batch 30 training

The Nigerian Navy (NN) has disowned a fake press release inviting candidates of the Nigerian Navy Basic Training School (NNBTS), Batch 30 to commence training at the school in Onne on Aug. 18.

Nigerian government yet to be informed of UNILAG vice-chancellor’s removal – ministry

The Federal Government on Wednesday distanced itself from the purported sacking of the Vice-Chancellor of the University of Lagos, Prof. Oluwatoyin Ogundipe, by its Governing Council, saying it has not been briefed.