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NGC to create rapport with 350 host communities

NGC to create rapport with 350 host communities

The Nigerian Gas Company (NGC) on Wednesday said it would continue to develop a robust and sustainable relationship with its over 350 host communities in the country to enhance business growth. The Managing Director of NGC, Babatunde Bakare gave the assurance during the official inauguration and hand over of a Basic Health Centre to the Oniparaga […] …

CAC registers 3,098,193 companies in 28 years

CAC registers 3,098,193 companies in 28 years

The Corporate Affairs Commission (CAC) on Tuesday said it had registered 3,098,193 companies and firms in Part A, B and C categories from its inception in 1990 to March 21. The Acting Registrar General of CAC, Mrs Azinge Azuka disclosed this at the commission customers forum in Abuja. Azuka said that in the last three […] …

Court to rule on AGF’s objection to MTN’s suit May 7

Court to rule on AGF’s objection to MTN’s suit May 7

The Federal High Court in Lagos on Tuesday reserved ruling on a preliminary objection by the Attorney-General of the Federation (AGF) challenging a N3billion suit by MTN Nigeria Communication Ltd. MTN sued the AGF for demanding N242 billion and $1.3 billion as import duties and withholding tax assessments from it. By a September 10, 2018 […] …

CBN slashes interest rate to 13.5 percent

CBN slashes interest rate to 13.5 percent

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has for the first time in over two years adjusted interest rate downwards to 13.5% Addressing journalists at the end the second MOC meeting in 2019, Central Bank Governor Godwin Emefiele disclosed that “the MPC voted to adjust the Monetary Policy Rate (MPR) […] …

NLNG risks N1b fine for local content infringement

NLNG risks N1b fine for local content infringement

The Nigeria Liquefied Natural Gas Limited (NLNG) may incur a fine of about N1 billion for failure to comply with the Nigerian Local Content Policy. A Niger Delta- based company, Macobarb International Ltd, while disclosing disclosed this on Tuesday, alleging the NLNG had maliciously and fraudulently terminated its contract. Macobarb’s Managing Director, Mr. Ogboru Shedrack, […] …

Why revenue from mining is low, by NIMG DG

Why revenue from mining is low, by NIMG DG

Director-General/Chief Executive Officer, Nigerian Institute of Mining and Geosciences (NIMG), Prof. Suleiman Hassan, on Monday attributed the low revenue from the mining sector to use of obsolete equipment by artisanal miners operating in the industry. Hassan stated that this has prevented the Federal Government from getting the revenue that is expected from the mining sector. […] …

FG to revisit national carrier project, says Sirika

FG to revisit national carrier project, says Sirika

Sen. Hadi Sirika, the Minister of State for Aviation on Monday said that plans were underway by the Federal Government to revisit the national carrier project. The minister made this known while defending the ministry’s budget before the Senate Committee on Aviation in Abuja. He said that the ministry only suspended the project to put […] …

N1.3trn stolen in four years by 32 entities—Magu

N1.3trn stolen in four years by 32 entities—Magu

The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu on Monday said public funds stolen by 32 entities (human and corporate) between 2011 and 2015 was well over N1.3 trillion. Magu disclosed this in his keynote address at the opening ceremony of the 2019 First Batch Conversion Training Programme to Procurement […] …

FG seeks $461.8 loan variation for airport terminals

FG seeks $461.8 loan variation for airport terminals

The Federal Executive Council (FEC) has approved a loan variation of $461,795,551.02 for building new airport terminals in the country. Minister of State Aviation, Hadi Sirika, stated this on Monday when he appeared before the Senate Committee on Aviation to defend his ministry’s 2019 budget proposals. The $461.8 million variation, he said, is required in […] …

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