Fraudster Defrauds Victims from Prison Custody

By Bliss Okperan A news report filtering in indicates that a part of the Supreme Court complex in Abuja has been gutted by fire. The incident, according to what Business Post gathered, happened on Monday morning. It was said that offices of three justices were affected by the inferno, whose cause is yet unknown at the time of filing this report. Details later…

By Adedapo Adesanya The House of Representatives has urged the Federal Ministry of Power and the Transmission Company of Nigeria (TCN) to urgently provide funds for the completion of the Okpai–Kwale Transmission Line Project in Delta State. At the plenary on Tuesday, the lower chamber of the parliament mandated its Committee on Power to ensure that bottlenecks mitigating against the completion of the project are effectively addressed and the project is completed in due time. This followed a motion moved by Mr Nnamdi Ezechi, the lawmaker representing Ndokwa/UKwuani Federal Constituency in the National Assembly on the floor of the green

By Adedapo Adesanya  The Senate and the House of Representatives will on Tuesday resume plenary after weeks of vacation with expectations that they will attend to correspondences from President Bola Tinubu. The upper chamber adjourned for a six-week annual recess on August 17 after confirmating 45 out of the 48 ministerial nominees of President Tinubu. The Senate President, Mr Godswill Akpabio, also announced the composition of 74 standing committees on that day. Upon resumption, the Senate will commence its legislative duties by attending to correspondences from the President requesting the confirmation of some appointments he made. The appointments include those

By Adedapo Adesanya An initiative to boost youth employment and shore up Nigeria’s foreign exchange (FX) earnings has been introduced by the Nigerian government. The scheme, the National Talent Export Programme (NATEP), was unveiled over the weekend at the Microsoft Office in New York, United States of America by the Minister of Industry, Trade and Investment, Mrs Doris Uzoka-Anite. She said the programme would position Nigeria as an export hub for talent outsourcing in Africa following the example of India, Bangladesh, Mexico and The Philippines. Mrs Uzoka-Anite noted that NATEP is a key national initiative that will serve as a

By Modupe Gbadeyanka Some persons involved in the sale of the newly redesigned Naira notes have been arrested by officials of the Department of State Services (DSS). A statement issued on Monday by the spokesman of the country’s secret police, Mr Peter Afunanya, disclosed that some commercial bank officials were also involved in the crime described as economic sabotage. Last year, the Central Bank of Nigeria (CBN) redesigned the N200, N500, and N1,000 denominations and gave January 31, 2023, as the deadline for the use of the old currency notes in Nigeria before extending the deadline yesterday to February 10,

By Adedapo Adesanya The Minister of State for Petroleum Resources, Mr Timipre Sylva, has disclosed that Nigeria’s fallow refineries located in both Warri at Delta State and Kaduna State will be up and running before June 2020. He also added that the rehabilitation of the Port Harcourt refinery in Rivers State was ongoing and was nearing completion and others were expected to follow by Q1 and Q2 2020. He made these remarks at the at the 13th Oil Trading and Logistics Africa Downstream Week, adding that the refineries would not only be repaired but their capacities would also be increased

By Adedapo Adesanya The Federal High Court sitting in Port Harcourt, Rivers State, has convicted and sentenced five persons to various jail terms for illegal possession of over 700,000 litres of Automotive Gasoline Oil (AGO) also known as diesel, without requisite licences. The convicts, Mr Owei Ibolo, Mr Mudashiru Toaheed, Mr Etim Edet, Mr Martins Savior and Mr Tope Alani, were apprehended by the anti-bunkering team of the Nigerian Navy in Okirika, Rivers State, with a vessel, MT TIS IV, laden with about 700,000 litres of AGO. They were all handed over by the Nigerian Army to the Economic and

By Dipo Olowookere Thirty-two lucky customers of Skye Bank Plc., across different business locations of the Bank, have emerged winners in the on-going Western Union campaign. The winners who emerged through a raffle draw, won various prizes which include N60,000 worth of shopping vouchers for 10 Star customers who received and sent transfers through Western Union in Skye Bank; and N20,000 worth of shopping vouchers as consolation for another 22 customers (11 receivers and 11 senders). The prizes will be officially presented to the winners in their domiciled branches. According to the Group Head Retail Banking, Mr Ndubuisi Osakwe, “The

By Modupe Gbadeyanka The need to increase the level of participation of retail investors in the capital market to achieve economic development has been stressed by the CEO of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema. According to Mr Onyema, retail investment opportunities in the capital market must be made available to investors and should be accessible to them so as to grow the economy. At the inaugural edition of the retail investors’ webinar organised by the NSE on Monday, the capital market guru said a number of products tailored to meet the financial objectives of retail investors were

By Dipo Olowookere The Nigerian Exchange (NGX) Limited was quite busy last week as investors bought and sold 3.029 billion shares worth N33.626 billion in 29,505 deals compared with the 3.602 billion shares valued at N36.451 billion transacted in 27,801 deals in the preceding week. Stocks in the financial sector enticed traders, who could not let go because of their liquid nature, resulting in the sale of 2.095 billion units worth N21.847 billion completed in 14,008 deals, thus contributing 69.17 per cent and 64.97 per cent to the total trading volume and value, respectively. Equities in the conglomerates industry trailed

By Dipo Olowookere It was celebration galore on Saturday, February 4, 2017 in Oghara, the hometown of former Governor of Delta State, Mr James Ibori, when he returned from the United Kingdom, where he served jail term for fraud. Residents of the state, including policemen, were on ground to welcome the former Governor back to Oghara after years in prison. Mr Ibori returned to Nigeria on Saturday morning via the Nnamdi Azikwe International Airport in Abuja. The former Governor was seen wearing smile as he was welcomed back to the state.

By Adedapo Adesanya  Oil futures shed the new week gains on Wednesday after data released by the United States government showed that domestic crude supplies rose by nearly 8 million barrels, indicating a growth for a second consecutive week. Brent crude which was promising to hit the $63 mark fell by 1.73 percent or $1.09 to trade lower at $61.87 per barrel as at the time of this report on Wednesday night, while the US West Texas Intermediate crude lost 1.29 percent or 74 cents to settle at $56.49 per barrel. The Energy Information Administration (EIA) on Wednesday reported that