HE House of Representatives Adhoc Committee on Rail Contracts has unearthed how an unregistered company was awarded a N19 billion contract in 2011.

IN an apparent bid to enhance supply of foreign exchange to the bureau de change, BDC, segment of the foreign exchange market, Central Bank of Nigeria (CBN) last month directed that banks should sell $50,000 from proceeds of international money transfers ( IMT) to the 3000 BDCs in the country.

Socio-Economic Rights and Accountability Project, SERAP, has dragged the Federal Government to the Federal High Court in Lagos, asking the court to compel the Attorney-General of the Federation and Minister of Justice Abubakar Malami, SAN, to institute criminal proceedings against former first lady, Mrs. Dame Patience Jonathan, over $15 million unexplained wealth frozen in four companies’ accounts.

IN its quest to provide Nigerians with investment options to enhance their incomes, Eagle Global Markets, EGM has come up with Naira used global trading platform that put off pressure on Foreign Exchange, FX and gives more value to the local currency.

A research by World Bank has revealed that low productivity of workers is largely responsible for poor service delivery in Nigeria’s education and health sectors.

IT is no longer news that insurance penetration in Nigeria is below one per cent and this is due to the obvious fact
that the greater part of the population have refused to accept insurance as a risk transfer mechanism.

LAST month, when the Central Bank of Nigeria took out advertisements in several national newspapers to disclaim the “rumour” that Skye Bank was not distressed, an article appeared on this page titled WHY CBN AND LAGOS STATE MIGHT FAIL IN THEIR EFFORT TO SAVE SKYE BANK.

Tragedy struck in the early hours of yesterday, when a petroleum tanker fell on a car at Ikorodu Roundabout, Lagos, killing the lone occupant of the car instantly.

THREE banks have to raise additional funds in 2016/17 financial year in order to meet and sustain their Capital Adequacy Ratio, CAR, which has come under pressure. This follows the devaluation of the Naira and a nominal expansion in risk weighted assets due to significant foreign currency exposure.

All Progressives Congress, APC national leader, Asiwaju Bola Ahmed Tinubu has demanded the resignation of the national chairman of the party, Chief John Odigie-Oyegun who he claimed Sunday had derailed from the path of progressives.