AIB closes investigations on four air crashes
The helicopter could not continue the flight to Port Harcourt due to bad weather and was returning to Osubi airstrip when it collided with high tension cables belonging to Power Holding Company of Nigeria (PHCN) located along the road to Delta Steel Company, Ovwian, Aladja, Delta State. “The investigation identified one causal and two contributory factors while five safety recommendations were made.”
Development Finance loans are not national cake — BoI MD
We believe that in terms of the current industrial policy, there are several good elements that will continue to resonate with the Nigerian private sector because many of them have been discussed at forums like the Nigeria Economic Summit Group, NESG, and so on and so forth. So in terms of the Nigeria Industrial Development Plan, NIRP, I believe the policy is sustainable and it is not likely to suffer policy reversal.
Streamline electricity tariff to reflect actual consumption, MAN urges Buhari
The Manufacturers Association of Nigeria (MAN), yesterday, urged the incoming government to streamline electricity tariff to reflect the actual consumption by the industries instead of the current use of estimated bills. The president of MAN, Dr. Frank Jacobs, made this call at the media luncheon held at MAN’s house, adding that, if the electricity tariff is streamlined, it will drive further improvement in power supply and create a special electricity tariff lines for heavy users of electricity like steel, cement and other strategic sub-sector.
Banks gain N470bn liquidity from CRR harmonisation
There are indications that banks gained additional liquidity of N470 billion from the harmonisation of Cash Reserve Ratio (CRR) by the Central Bank of Nigeria (CBN). The CRR is the amount of customers deposits that banks are mandated to keep as cash. Prior to last week, the CRR for public sector deposit was 75 percent, while that of private sector deposit was 20 percent.
Chukwumerije and death in the Age of Brevity
Sundays have a way of being languid. You could be recovering from a hangover induced by the previous night’s binge. Or, you went to church, if such was your convention. Or you sat in your house and watched television – if there was power supply, whether from the national grid or from your generator.
NDLEA, Kashamu trade words over planned arrest, arraignment
Authorities of the National Drug Law Enforcement Agency,NDLEA and embattled senator-elect, Prince Buruji Kashamu, have traded words over the latter’s plan to arrest and arraign the politician before the Federal High Court in Lagos, today.
Unidentified man commits suicide in Lagos
An unidentified man in his early 30s allegedly committed suicide by hanging himself on a tree along 7up/Governor’s Road, Alausa Secretariat, Ikeja, yesterday.
Police nab suspected kidnappers in Aba, recover car, firearms
Policemen from Abayi Division, Aba Area Command, Abia State, have arrested suspected members of a kidnapping gang terrorizing residents of Imo State.
Gunmen attack Owerri Catholic priest
The Parish Priest of St. Mulumba’s Catholic Parish, Owerri, Rev. Fr. George Ahamefula, narrowly cheated death weekend as dare-devil armed robbers stormed the Parish Rectory and stole valuables and cash.
Oshiomhole loses LG boss
THE Chairman of Etsako West Local Government Area of Edo State, Hassan Kadiri, is dead.
Enforcement of group life will improve insurance penetration
“Though belated, insurance companies now have paid-up capital in excess of N5 billion, turn over in excess of N25 billion and asset base of over N50 billion. By continuous constructive engagements, insurer inescapable position shall be surely appreciated,” he said. Ogunbiyi added that insurers’ advertisement through bill boards, radio jingles and television programmes will accelerate insurance acceptance, deepen pension practice and the spread of insurance benefits to all.
