Smarting from the frustration of the underdevelopment of the Niger Delta allegedly worsened by the activities of Militants, River State Governor Chibuike Amaechi yesterday differed with other stakeholders over the path to peace in the region. While other stakeholders have … read more
UK police have arrested a London lawyer accused of moving millions of dollars in bribes to Nigerian officials to win contracts for a US construction firm. A federal grand jury in Texas charged Jeffrey Tesler, 60, with helping channel money … read more
Nigeria should avoid a blanket bailout of its lenders to reveal “the good, the bad and the ugly banks” as unpaid loan charges look set to double in Africa’s largest oil producing nation, Renaissance Capital said. “Good banks are trading … read more
Oil thieves sabotaged a Chevron-operated (CVX.N) pipeline in the restive Niger Delta but no oil production was affected, a military spokesman said on Thursday. Colonel Rabe Abubakar, spokesman for the joint military taskforce in the eastern Niger Delta, said troops … read more
Two U.K. citizens were accused by the U.S. of taking part in a scheme to bribe Nigerian officials to win contracts in a $6 billion natural gas joint venture that included KBR Inc. Jeffrey Tesler, 60, of London, and Wojciech … read more
Nigeria is drawing up plans to defend the country’s banking system amid fears that bad loans racked up during a frenzy of stock market speculation could put some lenders in danger. Chukwuma Soludo, the governor of the Central Bank of … read more
Persons suspected to be ritualists chopped off the private part of a three-month-old baby boy at the Adankolo area of Lokoja, capital of Kogi State. The 13-year-old mother of the boy, identified as Grace, said to be mentally-imbalanced, was put … read more
Three people appeared Thursday before a court in Nigeria on murder charges for producing an adulterated infant teething drug that has killed 84 children since last November, court officials said. “Three suspects were charged with intention to murder and cause … read more
Foreign exchange transaction is enjoying boom on the black market as it becomes the alternative source, following the Central Bank of Nigeria (CBN) posture on interbank transaction. A news agency said the CBN sold $202 million at N146.02 to $1 … read more
An oil pipeline operated by the Royal-Dutch oil giant Shell that feeds into the key export Escravos terminal in southern Nigeria has exploded, curtailing production, a company spokesman said Tuesday. “A 24-inch trunkline exploded over the weekend,” Shell spokesman in … read more