January 18, 2018

Re-award $260m JV contract to Tilone, Reps tell NAPIMS

The House Representatives on Wednesday asked the National Petroleum Investment Management Services to re-award its $260m Joint Venture contract to a Nigerian company, Tilone Subsea Limited. The House had investigated the controversial contract in 2016, following a dispute involving some bidders and NAPIMS. In adopting the report of the probe, the House also directed the […]

January 18, 2018

Oil prices under pressure

Crude oil prices remained under pressure on Wednesday, although they were still hovering within close distance of recent multi-year highs, as investors remained cautious ahead of the weekly United States’ supply report due on Thursday. The US West Texas Intermediate crude February contract was down 15 cents or about 0.27 per cent at $63.56 a […]

January 18, 2018

Academy Press reports N387.5m full-year loss

Academy Press Plc has reported a group loss before tax of N387.5m for the year ended March 31, 2017. The firm had also reported a loss of N93.5m for the corresponding period of the previous year. Its group revenue for the period stood at N2.12bn compared to N2.05bn of the corresponding period of last year. […]

January 18, 2018

Nascon, Cadbury, UPL record losses, equities gain N298bn

Despite N298bn appreciation recorded in the country’s equities market, Nascon Allied Industries Plc, Cadbury Nigeria Plc and University Press Plc closed in losses at Wednesday’s trading. Nacon, Cadbury and UPL shares plummeted respectively by 4.98 per cent, 4.97 per cent and 4.94 per cent. Trailing the top three losers were Airline Services and Logistics Plc […]

January 17, 2018

Alfa arrested with heart, private parts in Lagos

The Lagos State Police Command has arrested an acclaimed Islamic cleric, Abdulfatai Kayode, with suspected human parts on Okedumola Street, Alakuko area of the state. Female private parts, a kidney, intestines, a heart, lap, among other human parts, were allegedly found in his apartment. Kayode was apprehended on Tuesday when the state Commissioner of Police, […]

January 17, 2018

We can’t succeed with current political structure – Akande

A former Interim National Chairman of All Progressives Congress, Chief Bisi Akande, says the Presidential System of Government can no longer sustain Nigeria’s growth and success. Akande made the remark while addressing a news conference in his country home, Ila, Osun state as part of activities to mark his 79th birthday. He said that multi-party […]

January 17, 2018

EFCC arraigns Justice Yunusa for alleged corruption

The Economic and Financial Crimes Commission has arraigned a suspended judge of the Federal High Court, Justice Mohammed Yunusa, for alleged corruption. Justice Yunusa, alongside one Esther Agbo, who works in the law firm of Rickey Tarfa & Co., was arraigned on Wednesday before the Lagos State High Court in Ikeja. In the five charges […]

January 17, 2018

EU may reconsider Mugabes’ sanctions in February –Envoy

Former President Robert Mugabe will have to wait for the European Union’s annual meeting in February to know whether a travel ban issued against him will be lifted. Brussels had scrapped most of its sanctions against Zimbabwean but maintains its measures, which includes a travel ban, against Mugabe and wife, Grace. The measures were imposed […]

January 17, 2018

African Union, African UN envoys demand Trump apology

The African Union, a group representing the continent’s countries, and African ambassadors to the United Nations, sharply denounced US President Donald Trump’s reference to African nations as “shitholes” and called on him to retract his statement and apologize. “The African Union Mission wishes to express its infuriation, disappointment and outrage over the unfortunate comment made […]

January 17, 2018

Widow On Trial For Poisoning Elderly Suitors

A French woman dubbed the “Black Widow of the Riviera” for allegedly seducing and poisoning wealthy elderly men, leading to the deaths of two of them, went on trial for murder in the resort city of Nice on Monday. Patricia Dagorn, 57, is charged with the fatal poisoning of two men found dead in 2011 on […]