A Nigerian high court has granted bail to seven senior bank officials in a financial scandal that threatens the recovery of sub-Saharan Africa’s second largest economy. The former executives face charges ranging from recklessly granting loans to share price manipulation … read more
The main armed rebel group in oil-rich southern Nigeria said it will make public its decision after midnight on whether or not to renew its amnesty-linked truce which expires on Tuesday. “That decision will be made public after midnight tonight,” … read more
PRINTING money to solve an economic problem by a country. What are the economic implications? And can such be used to solve every economy problem? These appear to be the contention since the Central Bank of Nigeria (CBN) reportedly admitted … read more
Just as there are continued agitations from the Niger Delta region over the negative effects of oil exploration in the region, fresh evidence has revealed that oil giant, Shell is having colossal contribution to global climate change vis-à-vis the deteriorating … read more
As expected, the Nigerian media again devoted their pages this week to the continuing cleansing in the banks and the resultant dismissal of five bank chief executives a few weeks ago. However, the problem seemed to have taken a new … read more
Eminent Nigerian lawyer, Gani Fawehinmi, has died in Lag os, aged 71. According to reports reaching PANA, Fawehinmi, died in the early hours of 5 Sept ember, 2009, after a prolonged struggle with cancer. He was a well celebrated human … read more
As the deadline for the full deregulation of the downstream sector of the nation’s oil industry draws closer, there were fears at the weekend that the pump price of premium motor spirit (PMS), popularly known as petrol, would suddenly surge … read more
Economic and social activities in Yenagoa, Bayelsa State were yesterday disrupted when over 200 disarmed militants from the camp of Ebikabowei Victor Ben, known as General Boyloaf, went on rampage on the streets over the non-payment of the money the … read more
A key Nigerian oil militant, Farah Dagogo, is expected to embrace the government’s amnesty programme in the next few days, the local press reported Friday, quoting his law yer. The report said Dagogo, the commander of the Movement for the … read more
With the target year of 2015 to meet the eight targets under the Millennium Development Goals (MDGs) looming, Nigeria has said it needs to spend a total of 24 trillion naira in the next six years to be able to … read more