By Godwin Oritse THE management of the  Nigeria Cus-toms Service (NCS)is to dismiss officers involved  in aiding the release of contraband brought into the country by importers. The decision to dismiss this category of officers was as a result of increased influx of prohibited cargoes through the ports in Lagos. Disclosing this to newsmen in […]

By Chinelo Enemuo Chief Ajibola Aribisala has described CBN’s removal of bank chiefs as an illegal act.In his interview with Vanguard, he noted that the Economic and Financial Crimes Comission (EFCC) should be more concerned with bringing the debtors to book as well as recovering the money. According to him, “I see no reason why […]

Monetary  policymakers should consider doing more to counter credit market cycles to reduce risks of damaging asset price busts, according to a new IMF study after the worst financial market slump since the Great Depression. The study—based on house and stock price busts over the past 40 years—shows that previous asset price busts were often […]

CENTRAL Bank of Nigeria (CBN) has assured investors that there would be no more major shocks from the ongoing banks audit as available reports from twelve out of the fourteen banks currently undergoing examination was fair than the last 10 audit which led to the sacking of five banks” boss and their executive directors.

African Petroleum Plc has said that despite the changes at the NNPC it intends to establish a modern refinery in the country soon. The Chief Operating Officer, AP Plc, Mr Tunde Falasinnu, told news men in Lagos on Monday that AP had done a lot of feasibility studies about the project with the NNPC.Falasinnu said that although the recent changes at the corporation slowed down the programme, the project would soon be on course.

Following the persistent delay in the take off of the N100 billion stimulus package for the textile industry, a major textile firm in the country – United Nigeria Textile Plc (UNTL) has hinted of the posibility of shutting down its operations, going by difficulties faced in its operations in the country as evident by its dismal financial performances over the years.

Sub-regional insurance training school, West African Insurance Institute (WAII) based in the Gambia may be forced to wind up if urgent financial assistance is not extended to it by member countries.

Commissioners of Commerce and In dustry in the 36 states of the federation have called on the Federal Government to ensure the early release of all intervention funds to resuscitate ailing industries.

YENAGOA, Nigeria — A top militant leader and 1,000 fighters surrendered to the Nigerian government Saturday, turning in their weapons in the biggest hand_over since an amnesty began two weeks ago, but other fighters said attacks in the oil_rich Delta region will resume next month regardless.

Five troubled banks whose managing directors and executive directors were sacked barely five weeks ago by the Central Bak of Nigeria (CBN) for alleged misuse of shareholders’ funds, have assured depositors and investors that their money was safe and protected and the debt recovery exercisewas ongoing.

THE National Petroleum Investment Management Services (NAPIMS) has organised a highly interactive forum in order to provide an avenue for the multinationals to fashion ways of addressing issues that impede on the optimal operations of the upstream sector of the oil and gas industry.

Guaranty Trust Bank has introduced the first MasterCard branded, Naira denominated debit cards in Nigeria.The Bank in a statement said, “This innovation, which is also an ATM card, is fortified with the Chip and Pin technology and linked directly to the customer’s account. It allows the cardholder withdraw cash from all Automated Teller Machines (ATMs) which bear the MasterCard logo or stickers and pay for goods and services at MasterCard Point of Sale (POS) terminals.

ABUJA THE Petroleum Technology Development Fund, has said it plans to adopt the Federal University of Petroleum Resources, Effurun (FUPRE), Delta State , and the College of Petroleum Studies in the University of Port Harcourt , for training of beneficiaries of its Overseas Scholarship Scheme.

THE Nigerian Electricity Regulatory Commission (NERC) has announced that it might be compelled to invoke certain provisions of its enabling Act following its observations that most of the power distribution companies operate in flagrant disobedience of its orders, rules and regulations.

SEVERAL measures have been taken by the NNPC towards stemming the growing threat of global climate change.This was made known by the corporation’s group managing derector, Dr Mohammed Sanusi Barkindo during this years world environmental day celebration held recently at NNPC towers in Abuja.climate changes has become a major global economic sustainbility and growth, the world environment and the continued existence of man, a development which the NNPC boss said must be tackled by all.. ‘NNPC as a national oil and gas company has embarked on global control measures. we are striving with the JV partners to achieve gas flare-down in all our operation,’ the GMD who was represented by Group Executive Directors, Refining and Petrochemical, Engr Austine Oniwon said.