Banks awash with excess cash amidst poverty
•As banking system liquidity surges 17% to N5.5trn By Elizabeth Adegbesan Amidst prevalent poverty in the country, Nigeria’s financial sector experienced a major injection of cash as the average net liquidity in the banking system surged to N5.53 trillion in May 2026. This represents a 17.16 per cent increase from the N4.72 trillion recorded previous […]
Embezzlement: Continued detention of military officers attracts condemnation
IBADAN-A Human Rights lawyer, Mr. Peters Adonu has condemned alleged unlawful detention of two senior military officers over trumped up charges of embezzling money running into billions of naira.
PIB: IOC’s unite to halt further investments in Nigeria
THE controversial Petroleum industry bill (PIB) currently being considered by the National Assembly has once again generated criticisms by the International oil companies (IOC’s) operating in the country with some stating that uncertainties around the bill has frozen further investments in the Nigerian oil and gas sector.
Babalola wants technical team established for N500bn power fund
THE Minister of Power Dr.Lanre Balalola at the weekend told the Management of the Central Bank of Nigeria(CBN) that a technical team be set up between his Ministry and the country’s apex bank for a holistic and effective application of the N500bn set aside to boost development in the power sector.
Eni expects refining profit in 2012
DIVIDEND growth forecast from next year as company puts annual rise in production at 2% Rome: Eni SpA, Italy’s largest oil and gas company, expects refining to return to profit from 2012 after boosting sales and efficiency. It forecast dividend growth from 2011.
Traditionl ruler converts converts government property for personal use
WARRI- ATRADITIONAL ruler and contractor in Burutu council area of Delta state have converted an N9m government owned 3-bedroom bungalow at Ekogbene community to his private use just as some concerned indigenes have called on the state government, security agencies and EFCC to wade into the matter so that the building be handed over to the community.
