Business

Nigeria’s power sector has gone through twists and turns over the years and the recurrent problems of the sector have become intractable, or so it seems. Governments come, read copiously from the book of lamentation on this and go. But the problems remain with the citizens who have been serially …

States operating the Contributory Pension Scheme refused to remit about N3.4bn pension contributions deducted from their workers monthly remunerations into their respective Retirement Savings Accounts with their Pension Fund Administrators. The acting Director-General, National Pension Commission, Aisha Dahir-Umar, disclosed this during the second quarter consultative forum for states in Lagos …

PRESIDENT Muhammadu Buhari has ordered the Ministry of Finance to sell all recovered and liability-free assets in six months. Some politicians and former government officials had their assets seized in the course of the anti-graft war of the Buhari administration. Speaking Tuesday while briefing the House of Representatives Joint Committee …

Justice Ayokunle Faji of a Federal High Court in Lagos on Monday, issued a bench warrant for the arrest and production in court of CEO of Innosson Nigeria Ltd, Innocent Chukwuma and two others, over fraud allegations. The Nation Newspaper

An airline, Air Peace, on Saturday reportedly overshot the runway and skidded into the bush at the Port Harcourt International Airport, Omagwa in Rivers State. The incident, which was said to have happened about 4pm, caused panic among airport officials. It was gathered that no life was lost and none …

For the third day running, fuel scarcity persists in Calabar as the factional crisis within the Independent Petroleum Marketers Association of Nigeria (IPMAN) deepens as Lawrence Agim leads a faction, while Edet Umana leads the other. The latest crisis is as a result of a Federal High Court Calabar judgement …

The Federal Government will on Monday inaugurate the board of the Securities and Exchange Commission to be chaired by Olufemi Lijadu. The News Agency of Nigeria reports that the board’s constitution is coming four years after President Muhammadu Buhari sacked the former SEC board headed by Peter Obi. A senior …

Former President Olusegun Obasanjo has lamented that nepotism in Nigeria is obstructing the fight against corruption.In what seemed like reporting the country’s leadership to the world, the elder statesman, before a gathering of investors at the ongoing yearly meeting of the African Export-Import Bank (Afreximbank) in Moscow, accused the administration …

The National Agency for Food and Drug Administration and Control has said it will soon ban the use of Paraquat and Atrazine products by farmers. The agency said it would mount evidence that the products hurt applicators and the environment. Dr Husman Bukar, the Director, Veterinary Medicine and Allied Products …

President Muhammadu Buhari has appointed Mele Kyari to head the Nigerian National Petroleum Corporation (NNPC). This is the second appointment the president will be making since his inauguration in May. Kyari, who is the current group General manager, crude marketing division, will assume office as NNPC GMD on July 7. …