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NCAA

NCAA call Ethiopian Airlines to cease taking deportation charges

Nigerian Civil Aviation Authority has ordered Ethiopian Airlines to stop taking deportation charges from Nigerians travelling to South Africa. According to the NCAA, the refundable deportation fee that the airline charges passengers without valid South African visa or a return ticket is illegal and unauthorised. The NCAA said it had received complaints that all South […]

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FG requires $1.21bn to revive Ajaokuta Steel Complex

Thirty-eight years after it was established to launch the country into an industrial era, the Ajaokuta Steel Company Limited has failed to properly take off, despite billions of dollar committed to it, EVEREST AMAEFULE writes. The country requires a total of $1.21bn to put Ajaokuta Steel Company Limited, Nigeria’s integrated steel complex, into production, investigation […]

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Nigeria to gets $296,143 dividend from IDB for 2016

The Nigerian Government is to receive $296,143 as dividend from the profit earned by the Islamic Development Bank for the 2016 financial period. The development was confirmed in a statement issued on Sunday by the Director of Information in the Ministry of Finance, Salisu Dambatta. Nigeria is the fourth largest shareholder in the 57-nation Islamic Development […]

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MPC meeting begins today, CBN may maintain status quo

Amid the Central Bank of Nigeria’s two-day bi-monthly Monetary Policy meeting held today in Abuja, economic experts and analysts have said the committee is expected to maintain the status quo by keeping the monetary policy instruments at the current levels. The experts were of the opinion that the MPC would keep the lending rate (Monetary Policy […]

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Omoluabi Mortgage Bank declares ₦78 million profit for 2016

Omoluabi Mortgage Bank has declared ₦78,869,496 as profit before tax during 2016 financial year as against the loss of ₦168 million recorded in the year 2015. Chairman of the bank, Dr. Adebayo Jimoh while reviewing the bank’s performance in the 2016 financial year disclosed that “Apart from the PBT of over ₦78 million, the two […]

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Bank charges on alerts, withdrawal others hits ₦138 billion

Bank customers paid ₦138 billion as electronic payment charges in 2016 to the top ten banks in the country. This represented 26 per cent increase when compared to the ₦109.1 billion paid to the banks in 2015. The charges, as stipulated in the Guide to Bank Charges of the Central Bank of Nigeria (CBN) include: […]

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OPEC ministers will meet this week to approve extensions of production cuts

OPEC ministers are to head to Vienna this week where they are expected to ratify an extension of the current production cuts that has been agreed informally among the key participants. Saudi Arabia and Russia announced earlier last week that they have agreed on the need to extend OPEC and non-OPEC output cuts for a further […]

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Airtel bags three awards at African Cristal festival

Airtel Nigeria has been recognised for its role in pioneering creativity and innovation across Africa. A statement from the firm on Thursday said it emerged winners last week at the African Cristal Festival. “The African Cristal Festival is widely considered a foremost platform to reward the best advertising campaigns created and broadcasted over the African […]

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‘Why private jetties cannot be effectively monitored’

The Nigerian Ports Authority, NPA, has said that the alleged illegal activities going on at some of the 276 jetties across the country was due to multiple regulatory authorities set over licensing and monitoring of the functions of these facilities. NPA’s Assistant General Manager, AGM, Western operations, Innocent Ganboro, who made this known in Lagos, […]

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(FILES) An Exxon sign is seen at a station in this September 20, 2008 file photo in Manassas, Virginia. US oil giant ExxonMobil on July 31, 2014 reported higher second-quarter profits despite pumping less oil and gas than it did a year ago. Exxon, the biggest US oil company and the second-largest US company in terms of market capitalization after Apple, said earnings came in at $8.8 billion, up 28 percent from the year-ago level. "ExxonMobil's financial results were achieved through strong operational performance and portfolio management," said chief executive Rex Tillerson. "We continue to enhance shareholder value by funding capital projects and delivering robust shareholder returns through dividends and share purchases." Results translated into earnings per share of $2.05, 19 cents above analyst forecasts.AFP PHOTO/Karen BLEIER/FILESKAREN BLEIER/AFP/Getty Images ** OUTS - ELSENT, FPG - OUTS * NM, PH, VA if sourced by CT, LA or MoD **

Union wants ExxonMobil facility in Niger Delta closed down

A Nigerian labor union on today called for the close down of all ExxonMobil Corp facilities in the Niger Delta, a union representative said. Reuters was unable to independently verify whether union members had shut down the company’s facilities. Oil industry sources said there had been no impact on production. Madubuezi Azubuike, who chairs the […]

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Oil prices climb on hopes output cuts will be extended

Oil futures rose in early trading on Friday on growing optimism that big producing countries will extend output cuts to curb a persistent glut in crude, with key benchmarks heading for a second week of gains. Brent crude was up 12 cents at $52.63 at 0006 GMT, after settling up half a percent on Thursday. […]

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FG seeks help from Islamic bank to fund Economic Recovery Plan

The Federal Government has appealed to the Islamic Development Bank (IsDB) to help fund the current administration’s Economic Recovery and Growth Plan (ERGP). Of particular interest in this regard, is the financing of infrastructure projects for which a wide gap exists, across the country. The appeal was made by the Permanent Secretary, Federal Ministry of […]

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