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  • Lemo Retires as CBN Deputy Governor, Articles

    January 9, 2014 11:11 AM 133

    The Deputy Governor (Operations) at the Central Bank of Nigeria (CBN), Mr. Tunde Lemo will on Friday retire from the central bank after serving two full terms of five years each. A statement from the CBN explained that although Lemo’s retirement would take effect from January 11, 2014, he would step down on Friday, being the last working day before his retirement

  • EXPOSED: How Nigerian presidents loot oil revenue through NNPC

    January 9, 2014 8:47 AM 5

    A former insider at the Aso Rock Presidential Villa in Abuja said that all it takes for a sitting President to get any amount he wants from the Nigerian National Petroleum Corporation (NNPC) is to summon the corporation’s Group Managing Director (GMD) and ask him to go and bring the needed sum. According to Olusegun Adeniyi, who functioned as Special

  • Lemo bows out as CBN Deputy Gov Friday

    January 8, 2014 10:27 PM 34

    WorldStage Newsonline-- Mr. Babatunde Olakunle Lemo, Deputy Governor in charge of the Operations Directorate at the Central Bank of Nigeria (CBN) will retire from the apex Bank tomorrow Friday, January 10, 2014, after serving two full terms of five years. A statement from the CBN said Lemo’s retirement is with effect from January 11, 2014, "he is expected

  • Nigerian Airports to have Hi-tech explosive detectors – FG

    January 8, 2014 4:41 PM 9

    In a bid to boost safety and security measures in Nigeria’s airports, the Federal Ministry of Aviation has acquired Hi-tech three-in-one explosive detectors for 15 out of the 22 airports in the country. The facilities would be capable of detecting liquid, metals and explosives during airport screening. Announcing this new development yesterday, spokesman

  • New capital requirements for market operators will dampen growth – Expert

    January 8, 2014 1:36 PM 11

    The new minimum capital requirement for capital market operators would dampen the growth of the market, Okechukwu Unegbu, the Managing Director, Maxifund Investment and Securities Ltd., said on Wednesday. SEC, had on December 19, issued a new minimum capital requirements for capital market operators with December 31, 2014 as deadline for operators to recapitalise

  • Oil Workers' Strike Averted as FG Reverses Decision to Sell Refineries, Articles

    January 8, 2014 7:03 AM 11

    Damilola Oyedele The looming strike by workers in the oil and gas sector has been averted as the federal government has shelved its earlier decision to sell the nation's four refineries. The government would now work with the unions in the oil sector to formulate workable business models and strategies for the refineries. The Turn Around Maintenance

  • Half-nude women protest against Shell in Bayelsa

    January 8, 2014 1:37 AM 21

    Hundreds of half-nude women in Peremabiri community in Bayelsa State, Niger Delta, yesterday, staged a protest against non-implementation of an existing agreement by Shell. The women disrupted movement of workers into the oil platforms and boat houses operated by Shell in the area, alleging non-implementation of the memorandum of understanding Shell

  • Naira Drops Marginally as RDAS Reopens, Articles

    January 8, 2014 1:05 AM 13

    The naira depreciated slightly against the United States dollar at the Central Bank of Nigeria’s (CBN’s) regulated Retail Dutch Auction System (RDAS) on Monday due to strong demand for the greenback. Monday’s auction was the first trading session for the year. Another forex auction at the RDAS holds today. Specifically, the nation’s currency fell by two kobo to close

  • Nigeria: FG to seek alternative funding Ajaokuta steel plant

    January 8, 2014 12:38 AM 23

    WorldStage Newsonline-- Federal Government of Nigeria has said it would seek alternative ways to fund the completion of the ailing Ajaokuta steel plant. The Permanent Secretary, Federal Ministry of Mines and Steel, Chief John Fem Sundayi Jegede said on Tuesday at Ajaokuta, Kogi State when he paid a familiarization tour to the steel plant that the minister

  • Tin Can Island Port records 16.35% increase in revenue- NAN

    January 7, 2014 7:24 AM 6

    Mr Chris Osunkwo, Public Relation Officer of the command, told the News Agency of Nigeria (NAN) in Lagos the revenue was higher by N33.74 billion over the N206.412 billion recorded in 2012. According to him, as a vehicle port, the revenue came mainly from import duties paid on vehicles, levies paid on common external tariff , sugar, wheat flour, wheat