Five troubled banks whose managing directors and executive directors were sacked barely five weeks ago by the Central Bak of Nigeria (CBN) for alleged misuse of shareholders’ funds, have assured depositors and investors that their money was safe and protected and the debt recovery exercisewas ongoing.

Guaranty Trust Bank has introduced the first MasterCard branded, Naira denominated debit cards in Nigeria.The Bank in a statement said, “This innovation, which is also an ATM card, is fortified with the Chip and Pin technology and linked directly to the customer’s account. It allows the cardholder withdraw cash from all Automated Teller Machines (ATMs) which bear the MasterCard logo or stickers and pay for goods and services at MasterCard Point of Sale (POS) terminals.

THE National Petroleum Investment Management Services (NAPIMS) has organised a highly interactive forum in order to provide an avenue for the multinationals to fashion ways of addressing issues that impede on the optimal operations of the upstream sector of the oil and gas industry.

THE Nigerian Electricity Regulatory Commission (NERC) has announced that it might be compelled to invoke certain provisions of its enabling Act following its observations that most of the power distribution companies operate in flagrant disobedience of its orders, rules and regulations.

ABUJA THE Petroleum Technology Development Fund, has said it plans to adopt the Federal University of Petroleum Resources, Effurun (FUPRE), Delta State , and the College of Petroleum Studies in the University of Port Harcourt , for training of beneficiaries of its Overseas Scholarship Scheme.