Oando Plc, listed on both the Nigerian and Johannesburg Stock Exchanges, has concluded arrangement to pay a dividend of N5.1 billion for the year ended December 31, 2012.

UAC of Nigeria Plc will in the next three years concentrate on building its Holding Company structure through strategic acquisition of companies in key sectors of the economy, said the chairman, Senator Udoma Udo Udoma.

Director-General, Raw Materials Research Council of Nigeria, RMRDC, Prof. Peter Onwualu has stated that Nigeria spends about N50 billiion annually on importation of frozen fish. He made this known at an entrepreneurial development workshop on fish smoking organised by the council in Abuja

THE Securities and Exchange Commission (SEC) has affirmed its commitment on zero tolerance for market infractions as it tasked the newly launched National Association of Securities Dealers (NASD) Over-the-Counter (OTC) market to avoid insider dealings and other malpractices in its operations.

AHEAD of the December deadline given to the three firms responsible for scanning services at the nation’s seaports, airports and border posts, to hand over the service to Nigeria Customs Service, the Customs has set up a Committee to midwife a smooth transition process.

FOLLOWING last Monday’s rail accident at Kakau village, Kaduna state, transport minister, Senator Idris Umar has said that the ministry has concluded plans to probe illegal rail crossing with a view to sanctioning offenders.

THE Nigerian Maritime Administration and Safety Agency (NIMASA) has justified its action against the Nigerian Liquefied Natural Gas Company (NLNG) blockade of vessels into the nation’s territorial waters.

The Board of Directors of Access Bank Plc has the appointment of Mr Herbert Wigwe to succeed Aigboje Aig-Imoukhuede, as Group Managing Director/ Chief executive Officer when he retires from the bank in December.

The Federal Government has commenced the implementation of the Backward Integration Policy (BIP) in the sugar industry with the approval of the plans and projects by three sugar refineries in Nigeria.

As part of efforts to increase its presence in key sectors of the economy, UAC of Nigeria Plc, Tuesday, said that it has completed the acquisition of 51 percent equity stake in Portland Paints and Products Plc.

A three-year partnership worth $47 million has been announced by the Alliance for a Green Revolution in Africa (AGRA) and United States Agency for International Development, USAID, to accelerate smallholder farmers’ access to transformative agricultural technologies.

THE Securities and Exchange Commission, SEC, is on the verge of developing a whistle blowing mechanism that would further guarantee investors’ confidence in the capital market.

The River Benue has its origins in the Adamawa Plateau of Northern Cameroon. The Lagdo Dam, a 40m high dam, has been built across the river about 50km upstream of Garoua, a major town on the river in Northern Cameroon. The water releases from this dam has continued to create floods in Cameroon and in Nigeria over the years and the resulting devastation reached all the way to the Niger Delta in Nigeria during 2012. Two major tributaries, River Mayo Kebi and River Faro, join the Benue in Northern Cameroon downstream of the Lagdo Dam.

Shell Petroleum Development Company of Nigeria Limited, SPDC, operated Joint Venture, Tuesday, raised an alarm over the rising cases of sabotage on its facilities, saying that it recorded eight incidences of vandalisation on its pipelines at the Adibawa field in Eastern Niger Delta which led to the spilling of about 500 barrels of oil into the environment.

Industrial and Commercial Bank of China (ICBC) has leapfrogged two U.S. banks to top the 2013 global ranking of banks with the most capital, highlighting the growing size and importance of Chinese lenders. ICBC topped The Banker magazine’s annual list of the top 1,000 banks for the first time, relegating Bank of America to third from first, while JPMorgan Chase remained second. ICBC was third last year.