Category Archives: cover

Save me from police harassment – Ecobank MD

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The Managing Director of Ecobank Nigeria Limited, Mr. Charles Kie, has filed a fundamental rights enforcement suit before the Federal High Court in Lagos, seeking protection from police harassment. In a ruling on Thursday, Justice Muslim Hassan ordered that status quo should be maintained pending the final determination of Kie’s N100m suit against the police. […]

Buhari’s govt good at lies, says Jonathan

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Former President Goodluck Jonathan has alleged that the Federal Government under President Muhammadu Buhari is characterised by lies and propaganda. Jonathan spoke in Abuja on Thursday when he received one of the national chairmanship aspirants of the Peoples Democratic Party, Prof. Tunde Adeniran, and members of his campaign team in his office. The party will […]

Zenith Bank Grows Nine Months Profit by 36% to N130bn

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Shareholders of Zenith Bank Plc should be expecting a bumper harvest at the end of 2017 financial year if the impressive performance recorded for the nine months ended September 30, 2017 is sustained. The results released yesterday showed growth in major performance indicators despite the challenging operating environment. The bank recorded gross earnings of N531.3 […]

ISIS’ support for Boko Haram disturbs me, Buhari admits

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President Muhammadu Buhari on Thursday admitted that he was disturbed and surprised by the claim made by members of the Boko Haram sect that they were receiving support from the Islamic State of Iraq and Syria. The President, however, said he was happy that his administration had been able to prove its ability to curtail […]

Nigeria lowers 2017 economic growth forecast — Report

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Nigeria has revised down its forecast for 2017 economic growth to 1.5 per cent from 2.19 per cent, according to a document reportedly seen by Reuters on Thursday. The report said oil production, on which Nigeria relies for about two-thirds of government revenues, was at 1.9 million barrels per day for 2017, as of July, against an […]

Shell Nigeria lifts force majeure on Bonny Light crude

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Shell Petroleum Development Company of Nigeria Limited, a subsidiary of Royal Dutch Shell, has lifted force majeure on the exports of Bonny Light crude oil, one month after it was declared. A spokesperson for Shell said the force majeure was lifted on Thursday. Reuters reported that Shell declared the force majeure last month following the shutdown […]

Nigerians may repay $5.5bn loan for 30 years, says FG

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The Federal Government has said its external borrowing plan, for which it is seeking the approval of the National Assembly, will take Nigeria between five years and 30 years to repay. The government also insisted it would have to borrow more to complete a number of ongoing infrastructural projects. The Minister of Finance, Mrs. Kemi […]

Barclays to find new investors for 9mobile

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There are indications that Barclays Bank has been saddled with the responsibility of finding investors for 9mobile based on the decision of Nigerian lenders. Reuters reported on Thursday that sources in the bank revealed that Barclays had started work on the mandate and was in the process of setting up a database for prospective investors and […]

Johannesburg Stock Exchange suspends trading on Oando shares

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Following an exchange of correspondence between the Nigerian Stock Exchange (the primary Exchange on which Oando is listed) and the Johannesburg Stock Exchange, the latter has suspended trading on Oando shares. The action, which happened on Thursday, followed the NSE’s earlier suspension on the oil major as directed by the Nigerian capital market apex regulator […]

SEC orders suspension of Oando shares, audit of firm

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The Nigerian Stock Exchange, on Wednesday, suspended trading on the shares of Oando Plc as directed by the apex regulator, the Securities and Exchange Commission. SEC also said it planned further investigation and audit of the firm. Some shareholders of Oando, in separate interviews, called for the suspension of the management of Oando Plc following […]