Strike looms as Chevron, oil workers union bicker over planned mass sack
Oil and gas workers unions are threatening industrial action over alleged plans by the management of Chevron to circumvent labour contract guidelines to sack thousands of its workers. The national…
Why CBN revoked Skye Bank’s licence, names Polaris Bank as bridge bank
The Central Bank of Nigeria (CBN), on Friday, revoked the operating licence of Skye Bank Plc with immediate effect. The CBN Governor, Mr Godwin Emefiele, disclosed this during a news…
MTN shares rebound on fresh talks with CBN
MTN Group Ltd.’s shares rose the most in more than six months after Nigeria softened its stance over claims that Africa’s biggest wireless carrier illegally transferred $8.1 billion out of…
China pledges more win-win relations with Nigeria says Chao Xiaoliang
The Consul-General of China in Lagos, Mr Chao Xiaoliang ,on Monday restated his home government’s commitment to deepening the win-win relations with Nigeria in the years ahead. Chao, who gave…
South-East to benefit from $2bn China commitments – President Buhari
President Muhammadu Buhari says the new investment commitments coming into Nigeria’s textile sector, of which Aba is a major beneficiary, will be actualized within the shortest possible time. Buhari gave…
Nigerian jailed 32 months in US for wire fraud, to refund $36,926
A computer hacker used personal information he stole from school employees which he used to file 122 tax returns seeking refunds totaling $596,897. Associated Press reports that Daniel Adekunle Ojo,…
NSE: Investors trade 173.55million shares worth N3.71billion
A total of 173.55 million shares valued at N3.71 billion were traded in 3,082 deals on the Nigerian Stock Exchange (NSE) on Thursday. These were against the 246.91 million shares…
Africa needs structured finance for effective financial trade – Afreximbank
The African Export-Import Bank (Afreximbank) says Africa needs structured finance for effective financial trade to overcome uncertainty and economic difficulty to boost trade in the continent. The bank’s President, Mr…
Dangote Cement, Nestle lead losers’ chart on NSE
Key equities on the Nigerian Stock Exchange (NSE) on Wednesday sustained days of losses with Dangote Cement dropping N13 to close at N210 per share. Nestle followed with N6…
Nigeria, China sign $2bn MoU on cotton value chain
The Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah said on Tuesday that Nigeria has signed a Memorandum of Understanding (MoU) with a Chinese firm, on first-ever cotton value…