Business

CBN unveils new FX guidelines, approves cash movement of $50,000

CBN unveils new FX guidelines, approves cash movement of $50,000

By Emma Ujah,  Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
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NUPENG, PENGASSAN make  u-turn, back deregulation

NUPENG, PENGASSAN make u-turn, back deregulation

By Victor Ahiuma-Young IN what can be described as a u-turn and   complete departure from the view of their umbrella bodies, the Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC), leaders of the National Union of Petroleum and Natural Gas Workers (NUPENG) and its Petroleum and Natural Gas Senior Staff Association of […]

Who’s fleecing Sosoliso, ADC crash victims’ families of full entitlements?

Who’s fleecing Sosoliso, ADC crash victims’ families of full entitlements?

When will Sosoliso and ADC Airlines pay compensation to families of victims of accidents involving their air planes?
The airliners of both carriers were involved in fatal crashes in 2005 and 2006, killing well over 200 passengers and crew. Both airlines do not appear to have answers to this poser, as they have severally failed to meet their obligations to their passengers who died in the crashes.

EU Commission withdraws blacklist

EU Commission withdraws blacklist

The European Commission has described Emirates websites as fully compliant with all requirements enunciated in EU consumer legislation, and commended it for being transparent with its customers with regards to fares indicated on its sites.

Emirates expands cargo network with forays into Slovenia

Emirates expands cargo network with forays into Slovenia

Emirates SkyCargo, one of Emirate Group’s subsidiaries, has appointed a General Sales Agent (GSA) in Slovenia, taking its number of offline stations in Europe to 12. Prakash Nair, Emirates Manager Network Cargo Sales Development, said.

Qatar Airways’ high standards thrill IATA

Qatar Airways’ high standards thrill IATA

Qatar Airways has received a top safety award from the International Air Transport Association (IATA) in recognition of its outstanding achievement in its Operational Safety Audit (IOSA).

Union vows to resist plan to charge aviation workers on use of access gate

Union vows to resist plan to charge aviation workers on use of access gate

The Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) has vowed to resist plans by the Federal Airports Authority of Nigeria (FAAN) to charge its members for use of the access gate linking the domestic to international wing of the Murtala Muhammed Airport, Ikeja, Lagos.

Siemens settles World Bank with  $100m for anti-fight corruption

Siemens settles World Bank with $100m for anti-fight corruption

The World Bank Group has announced a comprehensive settlement with Siemens AG in the wake of the company’s acknowled-ged past misconduct in its global business and a World Bank investigation into corruption in a project in Russia involving a Siemens subsi-diary.

Interswitch deploys  Gemalto Solution  for Verve card

Interswitch deploys Gemalto Solution for Verve card

Interswitch, an e- payment and switching company, has deployed Gemalto’s Dexxis Instant Issuance solution to to accelerate banks’ migration to its chip and PIN Verve paymnet card.

Actis restates commitment to emerging markets’ development

Actis restates commitment to emerging markets’ development

Actis, a private equity    investor in developing countries’ capital market, has restated its commitment to the development of emerging markets in Africa and around the world, through partnering with Small and Medium Scale Enterprises (SMEs) in these countries, by helping them achieve their growth plans and contributing positively to the economic development of their various […]

Expert tasks banks on credit bureaus

Expert tasks banks on credit bureaus

An expert in the Nigerian financial market, Mr. Akin Oladeji, has tasked banks in the country on the need to cooperate with the newly introduced credit bureaus, in order to address the issue of bad loans in the nation’s financial system.

IPMAN petitions EFCC over alleged fraud at PPMC

IPMAN petitions EFCC over alleged fraud at PPMC

ABUJA -THE Independent Petroleum Marketers of Nigeria have file a petition before the Economic and Financial Crimes Commission against some officials of the Pipeline and Products Marketing Company for alleged fraud and sharp practices in the distribution of petroleum products.