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EKEDC unveils mega cable fault locator equipment

EKEDC unveils mega cable fault locator equipment

  Eko Electricity Distribution Company (EKEDC)  on Wednesday unveiled it’s newly acquired state of the art Cable Fault Locator Equipment, to reduce the time expended on identifying exact fault location in the 11KV/33KV underground cable network. The Cable fault locator System which comprises a tripartite compartment including a High Voltage Surge Generator, Time Domain Reflectometer and Phone Acoustic Pinpointer is ... Read More »

Breaking : UBA sealed off over alleged tax evasion

Breaking : UBA sealed off over alleged tax evasion

The Kogi State Internal Revenue Service, (KSIRS), on Friday morning sealed off the Kogi State headquarters of the United Bank for Africa, (UBA),in Lokoja, over alleged tax evasion. KSIRS said the office will remain closed until full compliance. The debt profile was not disclosed. Read More »

Buhari Asks South African Govt To Reciprocate Nigeria’s Ease Of Doing Business Policy

Buhari Asks South African Govt To Reciprocate Nigeria’s Ease Of Doing Business Policy

President Muhammadu Buhari Thursday in Pretoria, South Africa, called on the South African government to open up its economy for more Nigerian businesses, while guaranteeing their safety, stressing the need for reciprocity in promoting trade and investments between both countries. Speaking at the inaugural meeting of the 9th Bi-National Commission at the seat of government, Union Building, President Buhari said ... Read More »

Ex-Customs staff dragged to court over debt of N176million

Ex-Customs staff dragged to court over debt of N176million

A Federal High Court in Lagos has adjourned till 5th of November 2019 for hearing of debt recovery suit of N176,586 487.86 instituted against former staff of Nigeria Custom Service, Dr. Kamoru Bolaji Yusuff, by Asset Management Corporation of Nigeria, AMCON. In a statement of claim filed before the court by a Lagos lawyer, Fola Alade, on behalf of the ... Read More »

Breach of contract: court orders Keystone Bank to pay Chinese firm $778,118.72

Breach of contract: court orders Keystone Bank to pay Chinese firm $778,118.72

A Federal high court sitting in Lagos has ordered Keystone Bank Limited to pay a Chinese firm, Hexing Electrical Company, damages in the sum of $778,118.72 over a breach of contract. The judgment of the court was sequel to a suit filed before the court against Keystone Bank Limited, Chris International Agencies Company and Central Bank of Nigeria as defendants, ... Read More »

International Coffee Day: Your cup of NESCAFÉ is more than what it is

International Coffee Day: Your cup of NESCAFÉ is more than what it is

Nestlé through its NESCAFÉ business, impacts the livelihoods of thousands of farmers in the region PRESS STATEMENT The story of your NESCAFÉ begins long before it reaches your cup. The tiny coffee bean, which is dried, roasted and ground into the powder that you brew for your coffee, is deeply rooted in West Africa, touching many lives. From Africa, for ... Read More »

President Buhari approves Bakassi Deep Seaport project

President Buhari approves Bakassi Deep Seaport project

President Muhammadu Buhari has given support for the Bakassi Deep Seaport Project of the Cross River State Government with the issuance of Outline Business Case, OBC, certificate for the project by the Federal Government. Rotimi Amaechi, minister for Transportation, gave the certificate on behalf of the Federal Government to Governor Ben Ayade of Cross River State in Abuja today. He ... Read More »

Buhari’s administration gave us huge support- Innoson

Buhari’s administration gave us huge support- Innoson

Innoson Group of Companies Nigeria limited on Sunday said it has enjoyed huge patronage and support from the President Muhammadu Buhari-led administration. Chairman of the group, Chief Innocent Chukwuma disclosed this in Nnewi, Anambra State in a press briefing. He also listed Enugu, Ebonyi, Ekiti, Imo, Kogi, Anambra, Gombe, and Bauchi states as well as Nigeria Military as those patronizing ... Read More »

Elumelu seeks global leaders’ support for African entrepreneurs

Elumelu seeks global leaders’ support for African entrepreneurs

Tony Elumelu, chairman, Heirs Holdings, has asked Japan to invest $2.5 billion representing five per cent of its $50 billion commitment to Africa. Elumelu, African investor and philanthropist, spoke at the seventh Tokyo International Conference on African Development (TICAD) in Yokohama, Japan. “At TICAD 2016 in Kenya, Japan pledged $30 billion for Africa. This year you have generously increased this ... Read More »

African Energy Chamber Opens Applications for 2020 Africa Energy Fellowship Program

African Energy Chamber Opens Applications for 2020 Africa Energy Fellowship Program

  Selected fellows will be joining the African Energy Chamber for 12 to 16 months   In order to provide young energy professionals with the tools and experience to become future leaders across the industry, the African Energy Chamber (https://EnergyChamber.org/) is launching its first Fellowship Program in 2020. Applications are open throughout October 2019, for a one-year program that will start ... Read More »

N32 billion Debt: Court orders AMCON to take over properties of Home Trust Savings &Loans boss

N32 billion Debt: Court orders AMCON to take over properties of Home Trust Savings &Loans boss

A Federal High Court in Lagos has granted an order of possession of seven choice properties scattered across Lagos Island in Lagos State belonging to a Lagos businessman, Samuel Olufunmilayo Ademosun and his wife, Toluleke Ademosun, to Asset Management Corporation of Nigeria, AMCON, pending the hearing and determination of the debt recovery suit filed against them by AMCON The properties ... Read More »

GTBank Fashion Weekend 2019: Africa’s Biggest Fashion Event Holds November 9th and 10th

GTBank Fashion Weekend 2019: Africa’s Biggest Fashion Event Holds November 9th and 10th

Attendees at the 2019 GTBank Fashion Weekend will be treated to an exciting repertoire of fashion moments   This November, industry leaders, style connoisseurs and fashion enthusiasts from across the globe will converge in Lagos, Nigeria for the 4th edition of the GTBank (https://www.GTBank.com/) Fashion Weekend. Holding on Saturday the 9th and Sunday the 10th of November 2019 at the GTCentre, Plot ... Read More »

U.S. Chamber of Commerce Appoints Benedict Peters, AITEO Boss To Advisory Board of The U.S.-Africa Business Center

U.S. Chamber of Commerce Appoints Benedict Peters, AITEO Boss To Advisory Board of The U.S.-Africa Business Center

Mr. Peters will join CEO’s from many Fortune 500 companies who have a strong presence in Africa Press Release WASHINGTON D.C., United States of America, September 24, 2019/ — The U.S. Chamber of Commerce has announced that Benedict Peters, Chairman and CEO of AITEO (http://www.AiteogGroup.com/),  will serve on the Board of Advisors for the U.S.-Africa Business Center. The mission of ... Read More »

Ecobank Transnational Incorporated Announces Appointment Of New Senior Fintech Advisor

Ecobank Transnational Incorporated Announces Appointment Of New Senior Fintech Advisor

A large part of Djiba’s role will focus on growing the bank’s flagship annual fintech initiative   Ecobank Group (https://Ecobank.com), the pan-African bank, has announce the appointment of Mrs. Aissatou Djiba Diallo, formerly of Microsoft, as its new Senior Fintech Advisor to strategically raise Ecobank’s support for the fintech sector. In her new role Djiba will lead the Group’s fintech initiatives and ... Read More »

We Will Make Transparency Our Watchword In Oyo – Gov Makinde

We Will Make Transparency Our Watchword In Oyo – Gov Makinde

…says Oyo is open for business that’ll bring development Oyo State Governor, Engineer Seyi Makinde, has pledged that his administration’s watchword will remain openness and transparency throughout his tenure. Governor Makinde, who stated this while receiving a delegation of the First City Monument Bank (FCMB) led by Mrs. Bukola Smith, who paid him a courtesy call in his office at ... Read More »

Verve Card Scheme Set To Celebrate 10th Anniversary

Verve Card Scheme Set To Celebrate 10th Anniversary

Grown From a Local to Global Brand Plans Press Launch on September 27, 2019.   Ten years ago, Verve, a leading payments technology and card scheme business in Africa, was launched by Interswitch Group to reduce, if not eliminate, the burden of cash payment settlement in Nigeria. Today,Verve classic card is accepted in Nigeria and21 African countries, while recently launched Verve ... Read More »

Current business environment not ready for CBN cashless policy, OPS warns

Current business environment not ready for CBN cashless policy, OPS warns

The Organised Private Sector, OPS, has warned against immediate deployment of cashless policy as directed by the Central Bank of Nigeria, CBN. It said “the current business environment and available infrastructure are not ready for such deployment.” In a statement by Director General of Nigeria Employers’ Consultative Association, NECA, Mr. Timothy Olawale, OPS argued that several sub-sectors of the economy ... Read More »

Increase social investment, World Bank advises FG

Increase social investment, World Bank advises FG

The World Bank has advised Nigeria to scale up its social investment programmes to address the large number of people living in extreme poverty. The World Bank Country Director, Mr Rachid Benmessaoud, said this on Friday at the inauguration of the Africa Social Safety Nets Report by the National Social Safety Nets Coordinating Office and World Bank, the News Agency ... Read More »

House asks CBN to stop charges on deposit plan

House asks CBN to stop charges on deposit plan

The House of Representatives yesterday urged the Central Bank of Nigeria (CBN) to stop implementation of the cashless policy on deposits and withdrawals by the Deposit Money Banks (DMBs). This followed the adoption of the prayers of a motion by Benjamin Okezie Kalu, by the House. According to the lawmaker, the extra charges policy on deposits and withdrawals must be ... Read More »

Brent crude oil jumps the most in history after Saudi attacks

Brent crude oil jumps the most in history after Saudi attacks

Key Points • Iranian president Hassan Rouhani said the attacks on Aramco were a “reciprocal response” to the aggression against Yemen. • A Saudi-led military coalition said the attack was carried out by “Iranian weapons” and did not originate from Yemen. • President Donald Trump said he was authorizing the release of oil from the Strategic Petroleum Reserve to keep ... Read More »