Energy firms borrow N548bn from UBA

Energy firms borrow N548bn from UBA

United Bank for Africa Plc’s (UBA) exposure to the energy sector stood at N548.35 billion for two years, 2013 and 2014. According to the information obtained from bank’s Annual Report and Accounts for the 2014 financial year, the energy sector accounted for 27.26 per cent of its total loans and advances to customers in the two year period. Specifically, in 2014, energy firms borrowed N287.88 billion from the bank, while in 2013, they borrowed N260.479 billion.
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Truck driver arrested for diverting 60,000ltrs of fuel

Truck driver arrested for diverting 60,000ltrs of fuel

BENIN—The Edo State Police Command has arrested five persons allegedly involved in the diversion of a tanker loaded with 60,000 litres of petroleum products belonging to Capital Oil and Gas en route Abuja from Lagos.

Property agent docked  for allegedly stealing N360,000

Property agent docked for allegedly stealing N360,000

A 51-year-old property agent, Taiwo Oluwo, has been charged before an Ikeja Magistrate’s Court in Lagos for allegedly stealing N360,000 belonging to one Pastor Praise Judah, under the guise of renting a land for him.

Delta guber: Great Ogboru’s debacle

Delta guber: Great Ogboru’s debacle

I WAS in Warri, Delta state, during the ember months of 2014 and observed the enthusiasm shown by the folks in the streets for the candidacy of Chief Great Ogboru. As a result, I sent a text message to my friend Sir Richard Odibo, a top promoter of Ogboru.

Advice on fighting corruption

Advice on fighting corruption

WE shall strongly battle another form of evil that is even worse than terrorism – the evil of corruption. Corruption attacks and seeks to destroy our national institutions and character… corruption will not be tolerated by this administration; and it shall no longer be allowed to stand as if it is a respected monument in this nation —Muhammadu Buhari’s Acceptance Speech, March 31, 2015

Don tasks African leaders on corruption

Don tasks African leaders on corruption

Lagos—A former Dean, Faculty of Law, Obafemi Awolowo University, Ile-Ife, Professor Ademola Popoola has called on African countries not to only sign the United Nation’s convention on corruption, but put in place robust integrity systems that provide checks and balances on those in power.

IoD preaches healthy living with ‘walk for life’

IoD preaches healthy living with ‘walk for life’

The Institute of Directors, IoD, Nigeria, penultimate week, embarked on a health walk tagged “Walk For Life” (WFL) to ensure healthy living among directors and participants. The fitness exercise which lasted for about 1hr, 45minutes took off from IoD’s office at 53 Glover Road, Ikoyi-Lekki, with participants going through Malverton and Alexander roads, across Lekki/Ikoyi Bridge.

PSN tasks FG on commercialisation of phamacies in FHIs

PSN tasks FG on commercialisation of phamacies in FHIs

The Pharmaceutical Society of Nigeria, PSN, has reaffirmed its call to the Federal Ministry of Health to halt the commercialisation of pharmacy facilities in Federal Health Institutions once and for all in the interest of national health. Making the call, in a petition to the Minister of Health, Dr. Khaliru Alhassan, the PSN President, Pharm. Olumide Akintayo, said rather than abate, the tendencies and flair for vindictive actions targeted against pharmacists and the profession of pharmacy has continued unchecked at the University of Benin Teaching Hospital, Benin and Federal Medical Centre, Owerri.

World’s biggest oil trader sees $50 floor for crude prices

World’s biggest oil trader sees $50 floor for crude prices

“U.S. production growth is beginning to slow down and demand is looking quite good for the year, so the combination of all of that means that probably price, if anything, moves up a little bit,” Taylor said. Prices “overreacted to the downside” and the slump is now “behind us,” Torbjorn Tornqvist, the chief executive officer of Gunvor, said at the same Lausanne event. The company handles more than 2.5 million barrels of crude and fuels each day, meaning it’s among the world’s five largest independent traders, according to data compiled by Bloomberg.

Ex-BP CEO says oil prices will rocket

Ex-BP CEO says oil prices will rocket

Tony Hayward, the former BP chief executive who runs Iraqi Kurdistan-focused Genel Energy, said oil prices are set to soar as OPEC has taken just six-months to stop the US shale oil boom in its tracks. Speaking at the FT Commodities Global Summit in Lausanne, Switzerland, Mr Hayward said the Organization of the Petroleum Exporting Countries had shown itself to be “the most successful cartel in history”, predicting oil prices would soon return to near $80 a barrel.

Oil prices ‘will hit optimum level’ as demand grows

Oil prices ‘will hit optimum level’ as demand grows

INDUSTRY leaders at the World Economic Forum on East Asia have said they expect oil prices to rise further. The leaders, meeting in the Indonesian capital, Jakarta, said the long-term view was that demand for oil is growing. Oil prices are around their highest levels for the year. The price of Brent crude was at $63 a barrel on Tuesday, up 40% from its January low of $45 a barrel and near its high for the year of $65.

Assembly Polls: Bayelsa LP candidate petitions IG, NHRC

Assembly Polls: Bayelsa LP candidate petitions IG, NHRC

The Labour Party, LP, candidate in the just-concluded House of Assembly election in Bayelsa State, Joseph Ogbe, has dragged the state Deputy Governor, Rear Admiral John Gboribiogha-Jonah (rtd) before the Inspector-General of Police, IG, and the National Human Rights Commission, NHRC, over alleged violence and rigging which he alleged characterized the Assembly election in Nembe Constituency 1.

Ekiti APC lawmakers chide Babatope over comment

Ekiti APC lawmakers chide Babatope over comment

The 19 All Progressives Congress, APC, lawmakers in Ekiti State House of Assembly have advised a Peoples Democratic Party, PDP, chieftain, Ebenezer Babatope, to take a rest after the crushing defeat his party suffered from APC in both his state and the federal level, to enable him contribute positively to the growth of democracy in Nigeria.

Lynch escapes Senate lynching

Lynch escapes Senate lynching

By Uche Onyebadi FOR over five months, dyed-in-the-wool conservatives in the U.S. Senate lay in an ambush for Loretta Elizabeth Lynch, waiting and looking for the best opportunity to legislatively lynch her. Practically all of them had no qualms about scuttling her desire to be the next attorney general of the United States. The issue […]

157 Lagosians die in 1932 fire outbreaks

157 Lagosians die in 1932 fire outbreaks

Lagos—No fewer than 157 persons were confirmed dead in 1, 932 fire disasters and other emergencies in Lagos State between January 1st, 2014 and March 31st, 2015.