GE Oil & Gas said it has completed the first refurbishment of subsea production trees for Shell Nigeria Exploration and Production Company, SNEPCo at its service base in Onne, Rivers State. The feat, reputed as the first-of-its-kind to be done in Nigeria, highlights GE’s commitment to investing in Nigeria and demonstrating the high-value services offered to its customers.

Up to 90 per cent of the world’s electronic waste, worth nearly US $19 billion, is illegally traded or dumped each year, according to a report released last week by the United Nations Environment Programme, UNEP. Each year, the electronic industry – one of the world’s largest and fastest growing – generates up to 41 million tonnes of e-waste from goods such as computers and smart phones. Forecasts say that figure may reach 50 million tonnes already by 2017.

The Benue State Chairman of the Conference of Nigerian Political Parties, CNPP, Mr. Baba Agan has stated that Gen. Muhammadu Buhari’s administration would be anchored on the principles of rule of law, accountability and total abhorrence for corruption.

The Sultan of Sokoto, Alhaji Sa’ad Abubakar III, has said that the National Youths Service Corps, NYSC, has contributed immensely in keeping Nigeria peaceful, united and evenly developed.

SOME smokers in Abia State have commended the passage of the new Tobacco law which prohibits smoking in public places, saying it was a welcome development.

The management of Imo State Polytechnic, Umuagwo, Ohaji/Egbema Local Government Area has affirmed that the Rector, Rev. Fr. Wence Madu, received a letter written to him by the owners of Okija shrine.

After making the final list of players to the U-20 World Cup, Flying Eagles forward Bernard Bulbwa has said the World Cup will be his stage to shine.

ABUJA- THE Federal Government has reiterated its commitment to the regulation for the use of explosives in mining activities by operators in the sector. The reassurance was made by the Minister of Mines and Steel Development, Mr. Musa Sada, while delivering a keynote address at the Stakeholders Forum on the Draft Explosives Act and Regulations held in Abuja. Sada said that the ministry deemed it necessary to convey the meeting to take stock of views and inputs by stakeholders in the mining industry on the Explosives Act, as it concerns new provisions for export, use, and security of explosives.

The National Emergency Management Agency, NEMA, South West zone has flagged off a public sensitisation and awareness campaign to enlighten the citizens on the possible implications of the rainfall patterns for 2015. The implications include flash flooding, especially in built-up urban centres. If utmost cautions are not exercised. The agency in a statement signed by its Information Officer, Ibrahim Farinloye described flash flooding as more destructive and deadly than the normal flooding because the rainfall does not give prior notice.

UNIVERSAL Energy Resources Ltd said it has commenced crude oil production from its Stubb Creek Field in Akwa Ibom State. The development followed the approval to embark on delivery of oil through the ExxonMobil’s Qua Iboe Terminal, which came on stream in early February 2015.

Addis Ababa — The Ethiopian Electric Power (EEP) said that electric power coverage in Ethiopia has now reached 55 per cent from only 17 per cent 24 years back. EEP External Public Relations Director, Miskir Negash, said that the coverage rose significantly during the past years owing to the due attention given by the ruling party- The Ethiopian People’s Revolutionary Democratic Front (EPRDF).

Beta Glass Company Plc in the Packaging /Container sub sector on the Nigerian Stock Exchange, NSE led the top ten gainers chart last week ending Friday 15thMay 2015, rising by 10 per cent to close at N33.00 per share from N30 per share penultimate week. Beta Glass Company Plc has proposed a dividend of 62 kobo per share to its shareholders for the financial year end of 2014 as the closing date for its register has been fixed for 12thJune, 2015.

Mr. Adebayo Adeleke of Independent Shareholders Association of Nigeria ISAN : When the CBN says 20 per cent and they are locking up the money, banks don’t have access to it, neither are they paying any form of interest on it. It is a double jeopardy situation for the banks because banks are paying to NDIC for insuring the same fund over everybody that has deposited. So when the owner of that money comes, the bank is meant to pay the owner interest on the whole sum, while 20 percent is held by CBN.

Transnational Corporation of Nigeria , Trascorp Plc has recorded gross earnings of N41.3 billion for the financial year ended December 31, 2014. In his address to shareholders duriiing the 9th Annual General Meeting, AGM , Chairman of the Board of Directors , Mr. Tony O. Elumelu, highlighted the operational excellence that has guided Transcorp’s turnaround from takeover in 2010, to increased performance in the year under review indicated that gross earnings increased from N18.8 billion to N41.3 billion , a reflection of the first full year of earnings from the power business.

The depositors of Savannah Bank have been suffering since February 2012, when the license of the bank was revoked. How long they will continue to suffer depends on two factors. The first is the ability of the owners of the bank to raise the required capital to reopen the bank and settle depositors. This however is becoming much more difficult than securing the legal victory that reversed the revocation of the license of the bank. In an era where profit-making banks are raising funds to beef up their capital, to find investors willing to invest in a bank that has been out of operations for 13 years, would be a herculean task.