AMCON takes over Babalakin’s property over N13.5bn debt

AMCON takes over Babalakin’s property over N13.5bn debt

The Asset Management Corporation of Nigeria, AMCON, has taken possession of three property in Lagos and Rivers states, belonging to Chairman of Bi-courtney, Mr Wale Babalakin, over a N13.5 billion debt owed Guaranty Trust Bank, GTBank Plc.
Visible Articles 5 10 15
Operators differ on Marine Service Concession

Operators differ on Marine Service Concession

Operators in the maritime industry are divided over the planned concession of all marine operations presently the only function being carried out by the Nigerian Ports Authority (NPA). Meanwhile the Senior Staff Association of Nigerian Ports Authority has kicked against the concession plan by the Bureau of Public Enterprises (BPE).

Post Harvest losses: Africa loses food valued at $4b annually

Post Harvest losses: Africa loses food valued at $4b annually

An international workshop on post-harvest losses rose from it meeting in Kenya last week with a report that Africa loses food valued at over USD 4 billion dollars every year as a result of post-harvest inefficiencies across the staples agricultural value chain.

Shell, Bayelsa community at loggerheads

Shell, Bayelsa community at loggerheads

TROUBLE is brewing between Shell Petroleum Development Company and Kou clan Cluster Development Board, in Ekeremor Local Government Area of Bayelsa State, headed by Mr. Osteen Igbapike, over a purported plan by the company to dissolve the board against the provisions of the Global Memorandum of Understanding, GMoU, entered into by both parties.

MAN calls for reversal of ports reforms

MAN calls for reversal of ports reforms

ILORIN—The Manufacturers Association of Nigeria, MAN, Sunday, called for immediate reversal of the new reforms being implemented at the nation’s ports, saying that it was killing the industrial sector.

Keshi dedicates Cup to local coaches

Keshi dedicates Cup to local coaches

Historic Super Eagles Coach Stephen Keshi has dedicated Nigeria’s Africa Cup of Nations triumph to all indigenous Nigerian coaches, who were treated with lack of respect by sports administrators and fans.

Value of Equities appreciates by N267bn

Value of Equities appreciates by N267bn

Equities listed on the Nigerian Stock Exchange last week maintained upward trend, as total market capitalisation appreciated by N267.43 billion.

Afcon: Nigeria rules again!

Afcon: Nigeria rules again!

NINETEEN years ago, Nigeria won the African Nations Cup in Tunisia and performed well in the USA ’94 World Cup.

Financial misstatement: KPMG cautions on weak disclosure, manipulated estimates

Financial misstatement: KPMG cautions on weak disclosure, manipulated estimates

KPMG Professional Services has called on shareholders and audit committee members of public companies to properly scrutinize the financial statements of companies, especially under the new International Financial Reporting Standards, IFRS, dispensation, to identify weak disclosures, manipulated estimates and non-usage of fair values, saying these are signposts of fraudulent financial reporting.

Nigeria’s arrested development; from Baking to sharing cake

Nigeria’s arrested development; from Baking to sharing cake

From the first annual Nigerian Economic Summit Group, introduced by Chief Ernest Shonekan, in 1992, till today, the complex issues summarized as development had been on the front of the national agenda. Development, apart from leading to improved economic, social, political and personal welfare was expected to lead Nigeria towards what many had regarded as our own manifest destiny.