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Government applies to withdraw case against seven commercial banks

Federal High Court

The Federal Government on Tuesday, August 8, 2017 applied to withdraw the case it instituted against seven commercial banks in the country, which were accused of violating the government’s Treasury Single Account (TSA) policy. Government had alleged that the banks connived with some government agencies to illegally hide in their coffers a total of $793,200,000, which was meant to have ...

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Police arraigns three men for allegedly defrauding Lagos speaker N9.1m

Mudashiru Obasa

The Police on Tuesday, August 8, 2017 arraigned three men before a Federal High Court in Lagos for allegedly defrauding the Speaker of the Lagos State House of Assembly, Mudashiru Obasa, off the sum of N9.188 million. The three men, Frank Nwokobia, 27, Ezeoke Kanayochukwu, 25, and Godwin Essien, 28, were arraign before Justice Chuka Obiozor, on a five-count charge ...

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NEITI, NSIA, NOA partner on extractive revenue management

Waziri Adio

The Nigeria Extractive Industries Transparency Initiative (NEITI), the Nigeria Sovereign Investment Authority (NSIA) and the National Orientation Agency (NOA) have agreed to work together in the areas of oil revenue savings and promotion of better attitude to public office. The agencies reached the agreement at separate meetings with NEITI Executive Secretary, Waziri Adio. The meetings focused on exploring areas of ...

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GOCOP conference: Governors, Service Chiefs, Lai Mohamed, Dangote, others confirm attendance

Aliko-Dangote

The Guild of Corporate Online Publishers (GOCOP), a group for the highest strata of Nigerian media professionals in online publishing, has secured firm assurances of the presence of eminent Nigerians at its conference. Themed: “Sustaining Growth through Diversification of the Economy,” the conference will hold on Thursday, August 10, 2017 at Renaissance Hotel, Isaac John Street, GRA, Ikeja, Lagos. A ...

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Court awards N17m against Coca Cola over wrongful termination of appointment

Coca cola

The Director General of Consumers Protection Council (CPC) Mr. Babatunde Irukera, has secured a N17 million judgment against Coca-Cola International Company at the Supreme Court for wrongfully terminating the employment of a Nigerian, Mrs. Titilayo Akisanya. In the judgment delivered on June 30, 2017, the Supreme Court affirmed the decision of the Court of Appeal to the effect that the ...

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Dangote urged to complete refinery before 2019

Dangote refinery

The Federal Government has said it relies heavily on the Dangote refinery to fulfill its promise to Nigerians to end fuel importation by December 2019. To this end, the Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, who visited the Dangote oil refinery site at Lekki Free Trade Zone in Lagos on Monday, July 31, 2017, said the government ...

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Prof. Onigbinde, Bayo Onanuga, others for Nigerian online publishers’ maiden forum

Bayo Onanuga

The Guild of Corporate Online Publishers (GOCOP) has announced that its 1st Annual Conference will hold on August 10, 2017 at Renaissance Hotel, Isaac John Street, Ikeja, Lagos State. A statement by the Guild’s Publicity Secretary, Olumide Iyanda, gave the theme of the conference as: “Sustaining Growth through Diversification of the Economy.” The theme of the conference will be addressed ...

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Firm sues church, bank over property, demands $14.6m compensation

Ikeja lagos

DN Tyre and Rubber Plc (formerly Dunlop Nigeria Plc) has sued a commercial bank and a Lagos church before a Lagos High Court, Ikeja, over alleged forceful takeover of its property at Oba Akran Avenue, Ikeja. The claimant, among other reliefs, is praying the court to compel the defendants to pay it the sum of $14.6 million as damages and ...

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21st Century Technologies rejigs to tackle challenges

Wale Ajisebutu

21st Century Technologies Limited, a Nigerian information technology firm, has rejigged her operations to solve some of Nigeria’s toughest challenges, Mr. Wale Ajisebutu, the chief executive officer of the company, has said. Nigeria’s socio-economic challenges include: power and energy infrastructure, food security and agriculture, wealth creation and employment, mass transportation, land reforms, security, and education. Each of these problems has ...

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Dangote Cement records 12.6% sales volume increase across Africa

Onne van der Weijde

Dangote Cement, Africa’s largest cement producer, has announced its unaudited results for the six months ended Sunday, June 30, 2017, posting a 12.6 percent increase in sales volume across Africa. Financials released on the floor of the Nigerian Stock Exchange indicated that the increase in sales volume showed a growing capture of Pan-African market as Dangote Cement appears to gain ...

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