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World Bank punishes Nigerian firms, individuals for corruption

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, which was involved in the National Social Safety Nets Project, was sanctioned for 50 months while the managing director was sanctioned for 60 months. This […]

agencyreport
31st March 2022
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Nigeria, Morocco commence 5,600km gas pipeline project

Energy

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 of Representatives Committee on Public Accounts. Kyari disclosed this following the request by the House of Representatives Committee on Public Accounts seeking the appearance of […]

agencyreport
31st March 2022
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News Policy and Regulations

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 Akwa, over non-payment of N2.2bn to contractors. The committee said it was acting on petitions filed by Akom Survey Services Limited over alleged refusal by […]

agencyreport
31st March 2022
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News

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. The three-member tribunal presided over by Thomas Okosun, gave the order following an ex-parte motion moved by Festus Onifade, a legal practitioner, on behalf of […]

agencyreport
31st March 2022
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Why Nigeria must save oil revenues - IMF

Ports and Airports

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 world. The Washington-based lender disclosed this in a report titled, ‘How soaring shipping costs raise prices around the world.’ It added that the cost of […]

agencyreport
29th March 2022
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100% cashless economy possible in Nigeria - Emefiele

News

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 the forthcoming 2023 general elections. In an opinion piece, McPherson-Smith said Emefiele’s supporters had seen the potential of the CBN boss and had continued to […]

agencyreport
29th March 2022
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News

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 operators to pay more taxes and levies. According to the Association of Licensed Telecommunications Operators of Nigeria, this is likely to cause a potential communications […]

agencyreport
29th March 2022
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Banking Policy and Regulations

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 Babatunde Irukera, made this disclosure at a media briefing in Abuja on Tuesday. Irukera also said that the commission had engaged Google and Apple Stores […]

agencyreport
29th March 2022
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Appointments

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 CRC operating under a group structure with diversified business interests in credit reporting, and data and analytics. The statement said the newly established subsidiary, CRC […]

agencyreport
29th March 2022
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Economy

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 in a press release on the World Bank’s website, announcing the publication of a report titled, ‘Boosting Productivity in Sub-Saharan Africa’. The statement read in […]

agencyreport
28th March 2022
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News

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 to close at N25.311tn at the end of the week. The NGX All-Share Index also declined by 0.67 per cent to close at 46,964.23 basis […]

agencyreport
28th March 2022
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Energy

State govts sink deeper as NNPC plans N328bn deduction in April

The amount spent by the Federal Government through the Nigerian National Petroleum Company Limited as subsidy on Premium Motor Spirit, popularly called petrol, in January and February this year is N430.165bn. NNPC disclosed this in its latest presentation to the Federation Account Allocation Committee meeting for March 2022, as it informed the meeting that it […]

agencyreport
28th March 2022
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BUA cement announces revised date for ₦2.05 dividend

Lagos partners BOI, Sterling Bank to boost MSMEs

Disney beats Q2 expectations with strong Disney+ subscriber

Investors flee to Europe, Japan amid trade war

Contact Info

Some Populer Post

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UAE commits to $25bn Nigeria-Morocco gas pipeline project

Subsidiaries summons: NNPC has nothing to hide, Kyari tells lawmakers

Senate threatens Akpabio, NDDC boss arrest over N2.2bn contractors’ fees

Tribunal stops MultiChoice from increasing DStv, GOtv tariffs

Russia-Ukraine war: Soaring shipping costs may worsen inflation in Nigeria, IMF warns

Emefiele, a serious contender, says Harvard economist

Telcos warn of disruptions in 11 states over Kogi’s clampdown

Commission freezes over 30 accounts of loan sharks

Credit Bureau appoints Adesalu as subsidiary’s MD

Sluggish growth affecting Nigeria, other African countries – W’Bank

Stock investors lose N172bn as 44 firms suffer decline

State govts sink deeper as NNPC plans N328bn deduction in April

Amazon enters quantum race with launch of Ocelot.

9mobile loses over 300,000 subscribers as roaming deal.

Africa can lead AI-driven deep tech, says El.

UAE commits to $25bn Nigeria-Morocco gas pipeline project

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