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FG completes 63km Port Harcourt-Aba railway project
The Federal Government announced on Wednesday that it has completed the 63-kilometre Port Harcourt-Aba railway project. The Port Harcourt-Aba project is part of the larger Port Harcourt-Maiduguri railroad project initiated by the administration of President Muhammadu Buhari. Mr Fidet Okhiria, Managing Director of Nigeria Railway Corporation (NRC), revealed this information…
Read More »Why CBN Dissolves Board, Management of Union Bank, Keystone Bank and Polaris Bank
Abiodun Folarin The Central Bank of Nigeria (CBN) has dissolved the Board and Management of Union Bank, Keystone Bank, and Polaris Bank. The Apex bank disclosed this in a statment signed by its Ag. Director, Corporate Communications, Mrs. Sidi Ali Hakama, that the action became necessary due to the…
Read More »NIMASA commits to develop Institute of Maritime Studies in UNILAG
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh OFR, says the academia has a major role to play in the development of the Blue Economy in Nigeria. Dr Jamoh, who stated this during a courtesy visit by the Management team from the University…
Read More »NNPC Ltd grows profit by 271% to N2.5trn in 2022
The Nigerian National Petroleum Company (NNPC) Ltd has reported a profit of N2.548 trillion in 2022, a 271% growth from N674.1 billion in 2021. The national oil company in its 2022 Financial Performance Report posted online described the profit as the highest since its inception in 1977. The financial report…
Read More »Police speak on Tiwa Savage’s petition against Davido
The police are looking into the petition by Nigerian singer and songwriter, Tiwa Savage, over alleged bullying and threat to her life by Grammy nominee, David Adeleke, popularly known as Davido. The Lagos police spokesperson, Benjamin Hundeyin, made this known on Wednesday in Lagos. ”I can confirm that we received…
Read More »Tinubu slashes travel expenses by 60%
Puyesident Bola Tinubu has slashed by 60 per cent the travel expenditure of government officials in his administration. Presidential spokesman, Ajuri Ngelale, disclosed this to State House Correspondents on Tuesday at the Presidential Villa, Abuja. According to him, the decision was part of cost-cutting measures of the Presidency. He said…
Read More »Dangote Group explains EFCC search at Head Office, pledges cooperation
The Dangote Group has expressed readiness to assist the Economic and Financial Crimes Commission (EFCC) in its investigations, following the commission’s visit to the company’s head office in Lagos. EFCC operatives on Jan. 4, embarked on a search mission to the head office of Dangote Group in Lagos. The search…
Read More »Largest syringe manufacturer exits Nigeria over FX challenges
Jubilee Syringe Manufacturing, once regarded as the largest syringe manufacturing venture in Africa, has officially ceased operations in Awa in the Onna Local Government Area of Akwa Ibom. Inaugurated in 2017 by former Vice President Yemi Osinbajo, the firm cited “unforeseen circumstances affecting our business operations” as the major reason for…
Read More »EFCC raids Dangote Head Office over alleged abuse of forex allocations
Operatives of the Economic and Financial Crimes Commission (EFCC) on Thursday stormed the headquarters of Dangote Industries Limited in Ikoyi, Lagos, in furtherance of the ongoing investigation into the alleged abuse of the foreign exchange allocations by the immediate past Governor of the Central Bank of Nigeria, Godwin Emefiele, according…
Read More »Tinubu appoints Executive Directors for NPA, NIMASA
President Bola Tinubu has approved the appointment of new Executive Directors in two (2) agencies under the Federal Ministry of Marine and Blue Economy: Nigerian Ports Authority (NPA): (A) Ms. Vivian C. Richard Edet — Executive Director, Finance & Administration (NPA) (B) Engr. Olalekan Badmus — Executive Director, Marine &…
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