President General of the Nigerian Supreme Council For Islamic Affairs (NSCIA) and Sultan of Sokoto Alhaji Muhammad Sa’ad Abubakar yesterday said this years fasting begins tomorrow since the Ramadan crescent was not sighted on Thursday, Sha’aban 29, 1430. Consequently, the … read more
The 206 of the country’s worst debtors unmasked Tuesday night by the Central Bank have seven days to pay up or face arrest and prosecution, Farida Wasiri, chairman of the Economic and Financial Crimes Commission, said yesterday in Lagos. “We … read more
Security was yesterday beefed up again at the Murtala Muhammed International Airport (MMIA), Lagos, just as a week ago, following concerns over the threat by Boko Haram Islamic extremists to foment crisis in Lagos and other southern parts of the … read more
SENIOR workers in the nation’s financial institutions, yesterday faulted the Central Bank of Nigeria, CBN, over phased implementation of the on-going “Special Examination” of the banks’ accounts which led to the sacking of five banks executives, saying that the action … read more
Nigeria’s central bank on Wednesday warned defaulting debtors of five banks rescued in a $2.6 billion bailout last week that they would face legal action unless they repaid the funds. The list of more than 200 companies, individuals and state … read more
It gets worse. Within a few days of the Central Bank pumping N420 billion into five insolvent banks whose senior executives were fired last week, the banks have been found to have even less value than previously claimed. The worst … read more
Nigeria’s main armed group in the Niger Delta Tuesday warned that the alleged extrajudicial execution of a civilian by the military was putting an ongoing ceasefire in jeopardy. The Movement for the Emancipation of the Niger Delta (MEND) said in … read more
The damage done to the satellite cable that provides internet service to Nigeria and other countries in West Africa SAT-3 has been rectified and service restored. British Broadcasting Corporation (BBC) in a report yesterday disclosed that the repair of the … read more
Three of the five sacked chief executive officers of the bailed out banks have spent the night in custody of the Economic and Financial Crimes Commission (EFCC) in Lagos while the remaining two have been declared wanted by the anti-graft … read more
Chinese oil company, Sinopec has announced conclusion of the buy-out of Canadian oil independent, Addax Petroleum Corporation. In a joint statement by both companies, Sinopec and Addax Petroleum revealed that they are “pleased to announce that 153,734,120 common shares of … read more