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Lagos-Calabar Highway: American Investors Decry Destruction Of N375bn Investment

Lagos-Calabar highway: American investors decry destruction of N375bn investment
In a dispute over the destruction of their N375 billion real estate investment, a group of American investors has urged President Bola Ahmed Tinubu to step in. The investors, acting through the Association of Nigerians in Diaspora, assert that despite possessing the required certifications and approvals, the $250 million houses in Okun Ajah, Lagos State, were ordered to be demolished by the Minister of Works, Engr. David Nweze Umahi. Engr. Stella Ifeoma Okengwu, Managing Director of Winhomes Global Services Limited, claimed during a global press conference that Umahi’s actions show a pattern of unlawful demolition, power abuse, bribery, corruption, andRead More

Marketers Allege Manipulation In Price Of Cooking Gas

Cooking gas
Say price rising by N550, 000 per truck Marketers of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, have decried the continuous rise in the price of the item,Read More

Air Peace Honours Nigerian Military With Priority Boarding

Air Peace Chief Executive Officer, Allen Onyema
Major Nigerian carrier, Air Peace, has announced the introduction of a Priority Boarding Policy for Nigeria’s military personnel – both serving and retired – as a way of honouring themRead More

Fed Policy Tightening May Rattle Global Financial Markets, IMF Warns Nigeria, Others

International Monetary Fund (IMF)
The International Monetary Fund (IMF) advised emerging economies such as Nigeria to prepare for the United States’ interest rate hikes, warning that faster than expected Federal Reserve hike could rattleRead More

Vandalism Of Total’s Pipeline Forces Shutdown Of 504MW Alaoji Power Plant

Niger Delta Power Holding Company (NDPHC)
The Niger Delta Power Holding Company (NDPHC) has announced a shutdown of the Alaoji Power Plant in Abia State following the vandalisation of the plant’s gas supply pipeline belonging toRead More

Standard Chartered To Shutdown 50% Of Its Nigerian Branches

Standard Chartered Bank
Bank shifts focus to digital banking Standard Chartered is closing about half its Nigerian branches as it moves to expand its digital banking. People familiar with the matter stated thatRead More

Stock Market Gains N1.33trn In First Trading Week

Nigerian Exchange Limited (NGX)
The Nigerian Exchange Limited (NGX) kicked off the first trading week of 2022 on a positive note as its market capitalisation gained N1.33 trillion. This followed foreign investors’ and highRead More

Oil Defies 2022 Surplus Forecast, Continues Bullish Run On Fading Virus Fears

Crude oil
May worsen inflationary pains by major consumers Although still early in the year, oil prices have started off 2022 on a positive note, defying experts’ prediction of a ballooning surplus,Read More

NNPC Must Focus On Profitability, Value Creation, Operate At Par With Global Industry Peers, Buhari Tells New Board

President Muhammadu Buhari
President Muhammadu Buhari has mandated the Board of the newly incorporated Nigerian National Petroleum Company (NNPC) Limited, to ensure that the firm focuses on profitability and operates at par withRead More

FG Commences Collection Of Income Tax On Bonds, Short-term Securities From Today

VAT and taxes
Stockbrokers express divergent view over new policy e The federal government will today commence the collection of income tax on bonds, short-term securities. This followed the expiration of a 2012Read More

Discos: We Don’t Manufacture Figures, Estimated Billing Scientific

A power transmission system
Ask Nigerians to help fish out errant officials The 11 Electricity Distribution Companies (Discos) in Nigeria have responded to allegations that they, “manufacture” figures in a bid to bill customersRead More