…to meet PENGASSAN, NUPENG officials today In a bid to avert the planned strike by members of the Petroleum and Natural Gas Senior Staff Association of Nigeria, the Federal Government on Wednesday summoned a meeting with the oil workers today. The meeting, according to a statement...

Following the commencement of the implementation of the new foreign exchange policy, which moves the naira to dollar exchange rate from 197 to a minimum of 280, customs duties on imported cargoes have risen by about 43 per cent. Prior to the adjustment of the...

The Central Bank of Nigeria (CBN) has reiterated that employee(s) in any financial institutions under its regulation that was terminated, dismissed or convicted on the grounds of fraud, forgery and dishonesty would be blacklisted from taking up any other responsibility in the industry. It stressed...

The Nigerian National Petroleum Corporation has stopped pumping Premium Motor Spirit (petrol) to its depots in a bid to avoid losses that arise from the incessant rupturing of pipelines that convey products to the various facilities. It was learnt that the corporation had also devised...

The price of kerosene, used by majority of Nigerians for cooking, has risen to as much as N300 per litre in many parts of the country, with many depots in Lagos not loading the product. Our correspondent gathered that the supply of kerosene by the...

The Central Bank of Nigeria (CBN)  took over the operations of the Skye Bank due to the bank’s failure to meet its minimum thresholds in critical prudential and adequacy ratios. Shortly before it announced the dissolution of the bank’s board, the chairman, non-executive directors, managing...