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Month: December 2016

FG Discovers Oil In Borno State

Nigeria has discovered huge crude oil concentration in Borno State, North East, raising the hope of the region joining the league of oil producers. Lagos state recently joined the league of crude oil producers. Some states in the league are Bayelsa, Rivers, Delta, Akwa Ibom. The Permanent Secretary, Ministry of Petroleum Resources, Dr. Jamila Shua’ra, […]

Cannabis Worth N60.4m was Intercepted In Ogun by NCS

Fidelia Okafor The Federal Operations Unit (FOU) Zone A of the Nigeria Customs Service (NCS), recently, intercepted 1,300 parcels of substance suspected to be canabis from two suspects, Itobor Egede, and Munirudeen Ikumapayi, in Ogun State and they were handed over to the National Drug Law Enforcement Agency (NDLEA), Lagos Command, for further investigation and […]

SON, US Embassy moves to boost standardisation

Fidelia Okafor The United States has charged the Federal Government to replicate the one-stop-shop for import and export in the country to improve efficient processing on standard products in line with its economic diversification agenda. The Economic and Commercial Counsellor at the embassy in Nigeria, Mr. Ray Hotz, made the call during a courtesy visit […]

NCS INTERCEPTS, SEIZES DANGOTE CEMENT TRUCK LOADED WITH CONTRABANDS

Fidelia Okafor The Nigeria Customs Service (NCS), Federal Operations Unit, FOU, Zone, A, has intercepted two Dangote cement trucks loaded with contrabands, including frozen poultry products, bags of rice and vegetable oil. Other items discovered by the NCS included,  four containers loaded with second hand clothing, all put at a duty paid value of three […]

MAN is ready to compile list of banks flouting CBN’s interest rate order – Udemba

Fidelia Okafor The Manufacturers Association of Nigeria (MAN) has decided to compile names of commercial banks charging above nine per cent single-digit interest rate on loans given to its members. MAN said the banks had frustrated its members from accessing the over N1.205 trillion various intervention funds.The association added that it would report and submit […]

MMM Nigeria top guider finally reacts to frozen accounts

Amaka Obiefuna. MMM Nigeria’s number one guider, Chuddy Ugorji, has finally reacted to the Ponzi scheme’s decision to pause withdrawals for one month. Mr. Ugorji, who is quite active on social media, addressed several controversies and allegations leveled against him in a lengthy Facebook post on Friday. A graduate of Karnataka State Open University in […]

Jubilation as Nigeria discovers crude oil in Northeastern state of Borno

Fidelia Okafor. Nigeria has discovered huge crude oil concentration in Borno State, North East, raising the hope of the region joining the league of oil producers. Lagos state recently joined the league of crude oil producers. Some states in the league are Bayelsa, Rivers, Delta, Akwa Ibom. The Permanent Secretary, Ministry of Petroleum Resources, Dr. Jamila […]

NBS says Nigeria’s inflation rises to 18:48 % in November

Amaka Obiefuna. The National Bureau of Statistics (NBS), says Consumer Price Index (CPI), increased to 18.48 per cent (year-in-year) in November from 18.33 per cent recorded in October. The CPI, which measures inflation, is 0.15 per cent points higher from the points recorded in October. A report released by the NBS in Abuja on Thursday […]

Nations revenue reportedly declined by N33.1bn in November

Amaka Obiefuna. The revenue available for sharing by the Federal, States and Local Governments in November declined by N33.1 billion. Thus, N386.9 billion was distributed to all tiers of government, compared to the N420 billion shared in October. The Minister of Finance, Mrs Kemi Adeosun, represented by the Accountant-General of the Federation, Mr Idris Ahmed, […]

Reports: NSE indices record a growth of 0.57%

Amaka Obiefuna. The Nigerian equity market on Thursday consolidated on its upward rally for the sixth consecutive day in a row with the market indicators appreciating by 0.57 per cent . The  All-Share Index gained 151.37 points or 0.57 per cent to close at 26,559.01 compared to 26,407.64 posted on Wednesday. Similarly, the market capitalisation rose […]

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