Four banks lost N1.77bn to fraud in 2021, says report
Four Nigerian deposit money banks lost a total of N1.77bn to fraudulent activities involving the banks’ employees and consumers in 2021. This was contained in the 2021 financial statements of…
World Bank suspends Nigerian firm, MD for bribery
THE World Bank has sanctioned SoftTech IT Solutions and Services Ltd., a Nigerian information technology solutions company, and its Managing Director, Mr Isah Kantigi, for alleged corrupt practices. The firm,…
Subsidiaries summons: NNPC has nothing to hide, Kyari tells lawmakers
The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, has said the NNPC has nothing to hide and will comply with the request of the House…
Senate threatens Akpabio, NDDC boss arrest over N2.2bn contractors’ fees
THE Senate’s Committee on Ethics, Privileges and Public Petitions has summoned the Minister of Niger Delta Affairs, Godswill Akpabio, and the Sole Administrator of Niger Delta Development Commission, Mr Effiong…
Tribunal stops MultiChoice from increasing DStv, GOtv tariffs
A Competition and Consumer Protection Tribunal sitting in Abuja has restrained Multi-Choice Nigeria Limited from increasing its tariffs and cost of products and services scheduled to begin on April 1.…
Russia-Ukraine war: Soaring shipping costs may worsen inflation in Nigeria, IMF warns
THE International Monetary Fund has said rising shipping costs as a result of the ongoing war between Russia and Ukraine may worsen inflation in Nigeria, and other nations in the…
Emefiele, a serious contender, says Harvard economist
AN Harvard University economist, Oliver McPherson-Smith, has described the Governor of the Central Bank of Nigeria, Godwin Emefiele, as a serious contender for the position of President of Nigeria in…
Telcos warn of disruptions in 11 states over Kogi’s clampdown
THE Kogi State Government through its Kogi State Internal Revenue Service agency has shut down a number of critical telecommunications sites in the state in a bid to force telecom…
Commission freezes over 30 accounts of loan sharks
The Federal Competition and Consumer Protection Commission says it has frozen no fewer than 30 bank accounts operated by illegal loan organisations. The Executive Vice Chairman of the Commission, Mr…
Credit Bureau appoints Adesalu as subsidiary’s MD
CRC Credit Bureau Limited has appointed Ademola Adesalu as the managing director of its newly established subsidiary, CRC Data & Analytics Limited. A statement said the appointment was necessary with…
Sluggish growth affecting Nigeria, other African countries – W’Bank
The World Bank has stressed the need to boost labour output in Africa, stating that sluggish productivity growth is making the continent lag behind many developing nations. This was contained…
Stock investors lose N172bn as 44 firms suffer decline
Investors lost N172bn at the end of trading on the floor of the Nigerian Exchange Limited. The market capitalisation of equities listed on the NGX depreciated by 0.67 per cent…
