Banks tackle inadequate funding in maritime sector

Banks tackle inadequate funding in maritime sector

A number of banks have risen to tackle the problem of inadequate funding in the local maritime sector. Maritime sector operators have always identified inadequate funding as one of the barriers to the development of the sector. The other factor is the dominance of foreign shipping lines in Nigeria related international maritime businesses.
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I didn’t say Obasanjo squandered N15bn….Minister

I didn’t say Obasanjo squandered N15bn….Minister

By Henry Umoru ABUJA—Minister of State for Commerce and Industry, Mr. Humphrey Abah has denied reports credited to him that the administration of erstwhile President Olusegun Obasanjo wasted N15 billion. Mr. Abah, who disowned the reports while addressing newsmen in Abuja, wondered why he could be so misquoted at a meeting held under a closed […]

Deregulation: CNPP vows to join strike

Deregulation: CNPP vows to join strike

…accuses FG of encouraging corruption By Chris Ochayi ABUJA—The Conference of Nigeria Political Parties (CNPP) has joined the organised labour, trade unions and the civil society groups in rejecting the proposed deregulation of the downstream oil sector, vowing to participate in the full blown national strike to be embarked upon by the labour movement should […]

Abia forecloses creation of  autonomous communities

Abia forecloses creation of autonomous communities

By Anayo Okoli Umuahia—ABIA State Government says  it still stand by its policy of not creating  new autonomous communities in the state. The Commissioner for Local Government and Chieftaincy Affairs,  Chief Johnny Ukpabi, who restated government’s position, however, disclosed that government is compiling a list of communities that lost their traditional rulers through death or […]

NSA has no power to investigate, enforce law …. COURT

NSA has no power to investigate, enforce law …. COURT

By Innocent Anaba A Federal High Court sitting in Abuja has held that the National Security Adviser (NSA) has no powers to conduct criminal investigation on any Nigeria citizen or exercise the powers of a law enforcement agency. Justice Gabriel Koawole, in his ruling in a suit by a Nigerian businessman, who had challenged the […]

Trustfund denies alleged N54bn fraud

Trustfund denies alleged N54bn fraud

ByVictor Ahiuma-Young ABUJA— the management of Trustfund Pensions has described the allegation of N54 billion fraud in the company as not only unfounded, but laughable because Pension Fund Administrators (PFAs), under the law, do not keep funds. Acting Managing Director of the Fund, Mr Benard Nkem Ekwe, at a press conference, weekend, in Abuja, noted […]