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A Nigerian firm, the Mercury Maritime Concession Company (MMCC), has proffered a solution to the congestion at the nation’s seaports and related traffic gridlock in Lagos.

Firm offers solution to gridlock, port congestion

A Nigerian firm, the Mercury Maritime Concession Company (MMCC), has proffered a solution to the congestion at the nation’s seaports and related traffic gridlock in Lagos.
Delta Governor Ifeanyi Okowa has congratulated Chairman of United Bank for Africa (UBA),Tony Elumelu, on his 58 birth anniversary.

Tony Elumelu: Youth restiveness ticking time bomb for Africa, others

Chairman of the United Bank of Africa (UBA), Mr Tony Elumelu, has stressed the need to unlock the potential of youths in Africa, in order to catalyse the socio-economic development of the continent.
Governor Bello Matawalle of Zamfara has directed the state’s Commodity, Marketing and Distribution Board to take charge of supplying foodstuff for the boarding secondary school feeding scheme to guarantee its quality.

Group asks EFCC to probe N37.4 billion Zamfara promissory notes

The Patriots for the Advancement of Peace and Social Development (PAPSD) has asked the new Chairman of the Economic and Financial Crimes Commission (EFCC) to investigate alleged diversion of N37.4 billion promissory notes by the administration of Abdulazeez Yari in Zamfara.
Seplat Petroleum Development Company

Seplat issues $650 million oil and gas bond

Seplat Petroleum Development Company, a Nigerian independent oil and gas firm, has issued $650 million in aggregate principal amount of senior notes due in 2026.
Delta Governor Ifeanyi Okowa has congratulated Chairman of United Bank for Africa (UBA),Tony Elumelu, on his 58 birth anniversary.

Delta governor congratulates Tony Elumelu at 58

Delta Governor Ifeanyi Okowa has congratulated Chairman of United Bank for Africa (UBA), Tony Elumelu, on his 58 birth anniversary.

Court refuses to unblock Shell’s bank accounts

Justice Oluremi Oguntoyinbo of the Federal High Court in Lagos on Tuesday declined to vacate an interim injunction directing 20 banks to block Shell Petroleum Development Company of Nigeria (SPDC) and its subsidiaries’ bank accounts.
Ngozika Ihuoma, a defence witness, on Tuesday, said he was not paid to defend Abdulrasheed Maina, Chairman, defunct Pension Reform Task Team (PRTT), in the ongoing money laundering charge against him.

Court: Abdulrasheed Maina’s request to summon witnesses to court was done in haste

The Federal High Court, Abuja, on Wednesday, held that the request by Abdulrasheed Maina, Chairman, defunct Pension Reformed Task Team (PRTT), seeking it to compel some persons to testify in his ongoing trial was done in haste.
A former executive secretary of the Lagos State Scholarship Board, Stephen Oshinowo, diverted the board’s N127 million to his personal use, an EFCC investigator has said.

EFCC: How Lagos Scholarship Board boss diverted N127 million to personal use

A former executive secretary of the Lagos State Scholarship Board, Stephen Oshinowo, diverted the board’s N127 million to his personal use, an EFCC investigator has said.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE moves 307.79 million shares valued N2.91 billion in bearish trend

The Nigerian Stock Exchange (NSE) on Friday moved 307.79 million shares valued at N2.91 billion exchanged in 4,393 deals.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE’s capitalisation drops further by N112bn on profit taking

The local bourse sustained its negative run on Thursday recording the fourth consecutive loss, following profit taking in Dangote Cement, Zenith Bank and United Bank for Africa stocks.

AGPC secures $260 million financing for $650 million gas processing facility

ANOH Gas Processing Company Limited (AGPC), a gas processing company established by the Nigerian Gas Company (NGC) and Seplat Petroleum Development Company Plc (Seplat) on a 50-50 basis has successfully raised $260million in debt to fund the completion of the AGPC Gas Processing Plant. The financing was more than 50percent oversubscribed.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE extends gain, index rises further by 0.11 percent

Positive sentiments persisted on the Nigerian Stock Exchange on Wednesday with the All-Share Index extending growth by 0.11 per cent.
The recent declaration by the court that N50 stamp duty on teller deposits or electronic transfer of funds is illegal is in order, frontline Lagos Lawyer, Fred Nzeako, has said.

2021: Banks to walk a tightrope amid low revenue environment

Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles.
The Central Bank of Nigeria (CBN) has revealed that the aggregate domestic credit in commercial banks grew by 7.61 percent in October 2020, compared with 7.35 percent in the previous month.

Central bank asked to obey court order on N37.4 billion promissory notes

The Patriots for the Advancement Of Peace and Social Development (PAPS) has called on the Central Bank of Nigeria (CBN) to obey the orders of a Federal High Court, Abuja, restraining it from going ahead to process the N14.9billion promissory notes belonging to Zamfara State in favour of the United Bank for Africa (UBA).
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria stock market advances by N214 billion

Nigeria extended bullish posture on Wednesday with the market capitalisation increasing further by N214 billion on sustained bargain hunting of blue chips.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria’s stock market closes for Christmas with N2 billion loss

Nigerian Stock Exchange (NSE) on Thursday reversed its uptrend, dropping by N2 billion ahead of the Christmas celebration.
Many banks in different parts of Port Harcourt, the capital of Rivers State, were unable to meet cash demands of customers on Monday as residents trooped out in their numbers to withdraw money ahead of the Christmas and New Year festivities.

Banks overwhelmed as Port Harcourt residents troop out for yuletide withdrawals

Many banks in different parts of Port Harcourt, the capital of Rivers State, were unable to meet cash demands of customers on Monday as residents trooped out in their numbers to withdraw money ahead of the Christmas and New Year festivities.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE market indices drop further 0.09%

The Nigerian Stock Exchange (NSE) market indicators on Tuesday dropped further by 0.09 per cent on sustained profit taking embarked on by some investors.
Group Managing Director-Chief Executive Officer, United Bank for Africa (UBA) Plc, Kennedy Uzoka, was on Sunday night presented with The Zik Prize for Professional Leadership.

UBA chief Kennedy Uzoka bags Zik Leadership Award

Group Managing Director/Chief Executive Officer, United Bank for Africa (UBA) Plc, Kennedy Uzoka, was on Sunday night presented with The Zik Prize for Professional Leadership. g
Nigeria Naira

2020: Six Nigerian banks boost economy with N1.3 trillion credits

Efforts to grow the nation’s economy has received a boost from the banking sector as six leading banks injected additional N1.337 trillion through loans and advances to their customers across all sectors of the economy between January and September 2020.
UBA - United Bank for Africa

UBA clinches ‘Bank of the Year 2020’ award in six countries

In obvious recognition of its brand acceptance and its role in facilitating economic development across Africa, six subsidiaries of pan African financial institution, United Bank for Africa (UBA) Plc have been named ‘Bank of the Year 2020’ by the Banker Magazine, leading global finance news publication published by Financial Times of London.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria stock market resumes December with N55 billion gain

The Nigeria stock market on Tuesday sustained bullish sentiment to open the month of December with N55 billion growth due to buying interests in Tier 1 banks.

Recent Stories

Why EFCC arrested Senator Okorocha

Former Imo State Governor, Rochas Okorocha, has insisted he was merely invited and not arrested by the Economic Financial Crimes Commission (EFCC) on Tuesday.
FILE PHOTO: South African Health Minister Dr Zweli Mkhize confirms the first case of Coronavirus in South Africa at Parliament in Cape Town, South Africa, March 5, 2020. Reuters/ Sumaya Hisham

South Africa says downpayments to J&J, Pfizer not refundable

The South African government’s downpayments to Johnson & Johnson (J&J) and Pfizer for COVID-19 vaccines are not refundable under any circumstances, its health minister said on Wednesday, describing the condition as onerous.
Iranian President Hassan Rouhani has told foreign powers to withdraw their forces from the Middle East, warning that they may be in danger if they remain in the region.

Iran president says 60% enrichment is an answer to attack at Natanz site

Iran’s move to enrich uranium up to 60% purity is a response to the sabotage at its key nuclear facility, President Hassan Rouhani said on Wednesday, adding the Islamic Republic had no intention of building a nuclear weapon
People march during a protest against the military coup in Dawei, Myanmar April 13, 2021. Courtesy of Dawei Watch/via REUTERS

Myanmar activists stage ‘bloody’ protests against military

Opponents of Myanmar’s coup splashed red paint and dye on roads and signs outside government offices on Wednesday to represent the blood of people killed protesting against the junta, on the second day of the traditional new year holiday.
The allegation of marginalisation against Governor Udom Emmanuel by the Oro Think Tank is unfair and has no basis in objectivity, the Akwa Ibom State branch of the Civil Liberties Organisation, CLO, has declared.

Akwa Ibom government sets up interface committee on deep seaport project

Akwa Ibom State government said it has set up a committee to interface with the Nigeria Ports Authority (NPA) Committee for the implementation of the Ibom Deep Seaport Project.

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American music superstar, Kanye West, has allowed his life for over two decades to be captured by cameras as the born-again rapper reportedly sold a documentary to Netflix for $30 million.

Netflix pays $30 million for Kanye West’s documentary

American music superstar, Kanye West, has allowed his life for over two decades to be captured by cameras as the born-again rapper reportedly sold a documentary to Netflix for $30 million.
Legendary Manchester United defender Rio Ferdinand believes the Red Devils should go for Everton striker Dominic Calvert-Lewin this summer.

Rio Ferdinand urges Manchester United to sign Everton striker

Legendary Manchester United defender Rio Ferdinand believes the Red Devils should go for Everton striker Dominic Calvert-Lewin this summer.
Ole Gunnar Solskjaer has downplayed suggestions his side have reignited the Premier League title race after ending Manchester City’s 21-match winning run with a stunning 2-0 derby victory.

Manchester United boss applauds exceptional Rashford, Fernandes

Manchester United manager Ole Gunnar Solskjaer labelled Marcus Rashford and Bruno Fernandes exceptional after they scored to wrap up a 2-0 Europa League quarterfinal first-leg win at Granada on Thursday.
The police command in Ekiti on Friday confirmed the killing of a police officer as gunmen allegedly abducted a Chinese expatriate in Ado Ekiti, the Ekiti State capital.

Gunmen kidnap Rivers council chairman

Unknown gunmen have kidnapped the chairman of Okrika Local Government Area of Rivers State, Philemon Kingoli, on Wednesday.
The All Progressives Congress has named the Governor of Kogi State, Yahaya Bello as chairman of its Ondo State Governorship Primary Election Committee.

Kogi constitutes 36-member economic advisory council

Kogi state government has constituted a 36-member Economic Advisory Council (EAC) to provide evidence-driven decision making and rigorous evaluation of the economy.