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FG commences restructuring, recapitalization of BoA with N250bn in 90 Days

FEDERAL Government yesterday said that it is considering the recapitalization of Bank of Agriculture (BoA) with N250billion in 90 days in collaboration with the Bureau of Public Enterprise (BPE) as part of plans to revitalize it. Minister of Agriculture and Rural Development, Chief Audu Ogbeh, who stated this in Abuja …

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Suspected adulterated substandard engine oil: court remands businessman in Prison custody

THE Federal High Court Ikoyi Lagos has remanded businessman, Cajetan Chike Muonagolu, in prison custody on a 4 count charge bordering on dealing in adulterated and substandard engine oil. The court presided over by Justice Saliu Saidu also admitted Muonagolu bail in the sum of N50million and two sureties in …

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Mainstream Energy loses N1.8 billion annually to stranded Power

targets supply to Niger, B/Faso, other W/African countries MAINSTREAM Energy Solutions Limited, operators of Kainji Dam and Jebba Hydro Power plants says it loses at least N1.8 billion annually, a N900 million monthly average due to stranded power occasioned by load rejection by the National Control Centre, (NCC) . This …

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NERC slams Discos over metering as vandals hit 6 TCN towers in Delta

NIGERIAN Electricity Regulatory Commission (NERC) has slammed electricity distribution companies, stating that it is their responsibility under the Meter Asset Provider (MAP) Regulations 2018 to ensure that all electricity consumers across the country have meters. This is coming as six (6) Transmission Towers along the Delta – Benin and Delta …

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NAAE to tackle cyber threat at annual symposium, hosts Biennial General Meeting

FOLLOWING the threat posed on the aviation industry by cyber criminals, the Lagos State chapter of the National Association of Air Traffic Engineers (NAAE) will hold a symposium to illuminate the threat and proffer solutions on how to deal with them should they arise. The body made this known as …

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Delta stresses import of Nigerian market, celebrates 1 year ops from Lagos to New York-JFK

NIGERIA has been described by Delta Air Lines as an important Market as part of the airline marking a successful first 12 months of flying between Lagos and New York-JFK non-stop. Delta’s Commercial Director East and West Africa, Bobby Bryan made this known while stating that Delta’s Lagos-New York-JFK service …

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Planned VAT increase: NECA cautions FG against implementation

NIGERIAN Employers’ Consultative Association (NECA), has said that the upward review of Value Added Tax (VAT) as being proposed by Federal Government is ill-advised and not the only option opened to government to fund the new national minimum wage. NECA, the umbrella body for organised private sector made this known …

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Tony Elumelu Foundation to announce selected 1,000 entrepreneurs for 2019 Programme on March 22,

TONY  Elumelu Foundation (TEF), will announce the selected applicants for the 2019 cohort of the Foundation’s flagship Entrepreneurship Programme on March 22, 2019. The event, which marks the 5th round of the Foundation’s Entrepreneurship Programme, will take place at the Transcorp Hilton Hotel, Abuja. Every year, the Tony Elumelu Foundation …

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OVH Energy acquires new bowsers for Jet A1 fueling

OVH Energy Marketing Ltd, has announced its acquisition of brand new aircraft fueling bowsers as part of its expansion plans to deepen its service offerings in providing fueling solutions to players in the aviation industry. Manufactured by Flightline UK, the bowsers are equipped with latest technological and safety standards certified …

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UBA Group spreads tentacles further, launches full banking operations in the UK

“The enhancement of our business in the United Kingdom is very timely and mutually beneficial for African and European corporates as well as respective governments. With the British and other European governments seeking new and improved measures to grow trade relations with Africa, we are enthusiastic on our positioning and capabilities in supporting corporates and government institutions to fulfil these lofty aspirations, which we believe are pertinent for the sustainable growth of both continents.”

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