BUSINESS

Back to homepage

DPR warns marketers against hoarding, adulteration of petroleum products

The Department of Petroleum Resources (DPR) has warned petroleum marketers to desist from hoarding, diverting and adulterating petroleum products. The DPR Director, Mr Mordecai Ladan, gave the warning in a statement released to newsmen in Abuja on Monday. According to

Read More

As dollar drops, Nigerians now ‘hoard’ naira

The naira, which has been on a path of recovery, traded between 400 and 470 to the dollar at the parallel market on Friday. According to traders who spoke to TheCable in Abuja, Nigeria’s capital city, the dollar went as

Read More

N8bn CBN currency scam: Absence of defence counsel stalls trial

The eight billion naira CBN currency scam before Justice Joyce Abdulmaleek of the Federal High Court, Ibadan, suffered another adjournmnt on Monday because of the absence of Mr Olayinka Bolanle, a defence counsel. Bolanle is the counsel to Kolawole Babalola,

Read More

Only one form needed to register business now- CAC

The Corporate Affairs Commission (CAC) has consolidated the forms required to register a business in Nigeria, reducing the number from seven to one. This was revealed by Garba Abubakar, the special adviser to the commission’s registrar-general of the commission, at the

Read More

Petroleum scarcity arising from tanker driver strike hits Akwa Ibom

The Department of Petroleum Resources (DPR), Eket Field office, Akwa Ibom has attributed the scarcity of petrol in the state to the strike by tanker drivers. Mr Bassey Nkanga, the Controller of DPR in charge of Akwa Ibom and Cross

Read More

FAO seeks $32m for farmers in Lake Chad

The Food and Agriculture Organisation (FAO) wants $32 million dollars as support to farmers during May farming season in Nigeria’s Lake Chad Basin region. Dominique Burgeon, the Director of FAO’s Emergency and Rehabilitation Division, made the request on Friday in

Read More

Nigerians to pay more charges for large cash deposits, withdrawals

Nigerians who deposit or withdraw N500,000 and above will now pay between 1.5 per cent and 7.5 per cent charges, according to a new banking policy. The new policy was approved by the Bankers’ Committee of the Central Bank of

Read More

Release Andrew Yakubu or charge him to court, group tells EFCC

The Coalition of Civil Society Groups have criticised the detention of former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu by the government calling it illegal and an attempt to reduce his political influence. At a

Read More

Fiditi: the sleeping foreign exchange earner

By Aanuoluwapo Agboola Between the cities of Oyo and Ibadan lies the town of Fiditi, wherein lies treasures of great foreign exchange, if well harnessed. Fiditi has always been a thoroughfare for travelers,who pass through her,on their way from the

Read More

Why we didnt remit N23.4bn to FG since 2008

The Nigerian National Petroleum Corporation, NNPC, on Tuesday blamed budgetary appropriation constraints imposed by the National Assembly as reason for its inability remit N23.4 billion Nigerian Export Supervision Scheme, NESS fees since 2008. NESS fees are payments to pre-shipment inspection

Read More