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Online Editor

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NSITF creates special fund for compensation

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The Nigeria Social Insurance Trust Fund (NSITF) has created a special fund to ensure prompt settlement of claims and compensation of injured workers. Its Executive Director, Operations, Mrs Kemi Nelson, said the decision was informed by the need to meet the 14 days payment timeline set by the management of NSITF. She said: “The management […]

Skewed Zimbabwe presents global stock investors with a conundrum

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Investors’ interest in Zimbabwe may have risen since soldiers forced long-standing President Robert Mugabe to quit in November, but figuring out when to re-enter the southern African economy is causing a dilemma. While Zimbabwe, whose economy almost collapsed under Mugabe, has no traded bonds, its stock market, with a capitalisation of almost $12 billion, is […]

NERC okays Mojec as Meter Asset Provider

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Mojec International Lim-ited, an indigenous prepaid meter manufacturing company, has been granted  a ‘No Objection’ licence by the National Electricity Regulatory Commission (NERC) as an asset provider under the new Meter Asset Provider (MAP) policy. This was stated in a confirmation letter from NERC to the company dated June 7, signed by the agency’s Commissioner, […]

OPEC set for stormy session over supply

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Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week. “Three OPEC founders are going to stop it,” Iran’s representative to the bloc Hossein Kazempour Ardebili said in comments to Bloomberg yesterday. […]

Buhari deserves prayers, says Ondo lawmaker

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The lawmaker representing Idanre/Ifedore Federal Constituency in the National Assembly, Bamidele Baderinwa (aka White), at the weekend donated a block of classrooms to the management of Emmanuel Primary School at Ikota in Ifedore Local Government Area of Ondo State. Baderinwa, who was represented by his political associate, Tunde Ogunlade, handed over the keys to the […]

Electricity dips by 1,087mw due to gas rupture

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THE Transmission Company of Nigeria (TCN) yesterday said that the Nigeria Electricity Supply Industry (NESI) lost 1,087Mega Watts (MW) owing to gas pipeline rupture and challenges with Shell gas wells. The situation, according to TCN General Manager, Public Affairs, Ndidi Mbah, culminated in load-shedding nationwide to stabilise the grid. The statement noted: “As a result […]

$48b foreign reserves, forex interventions keep naira stable

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The naira will remain stable at both the official and parallel markets, with the rise in foreign reserves to $48 billion and the consistent dollar interventions by the Central Bank of Nigeria (CBN), analysts have said. Analysts at Afrinvest, an investment and research firm, said with oil prices above $70/barrel and the look-good state of […]

APC governors move to prevent convention crisis

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AHEAD of the National Convention, of the All Progressives Congress (APC), governors are meeting on Wednesday to agree on candidates for National Working Committee (NWC) posts. There were indications yesterday that the governors will present a list of consensus candidates to President Muhammadu Buhari. According to a source, who spoke in confidence, the governors are […]

Evans abandoned as lawyer withdraws from kidnap cases

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Suspected billionaire kidnap kingpin, Chukwudumeme Onwuamadike, a.k.a Evans, no longer has a lawyer for his criminal and civil matters. Evans’ former counsel, Olukoya Ogungbeje, Friday withdrew his representation. Ogungbeje, who represented Evans in his multiple kidnapping, murder and attempted murder trials at the Lagos High Court and two civil suits at the Federal High Court […]

Ramadan: I fasted against advice —Buhari

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PRESIDENT Muhammadu Buhari revealed yesterday that he shunned advice from concerned Nigerians who asked him not to observe this year’s Ramadan on the grounds of ill health. He said that after skipping the 30-day fasting exercise last year because of his poor health, he felt that he was strong enough to observe it this year, […]