Saturday, June 23, 2018

Oluseyi Awojulugbe

    Malami to pay lawyers N500m over MTN fine

Malami to pay lawyers N500m over MTN fine

The federal executive council (FEC) on Wednesday approved the payment of N500 million legal fees to lawyers for the recovery of N330 billion fine from the Mobile Telecommunications Network (MTN).MTN was fined by the Nigerian Communications Commission (NCC) in 2017 for breaching directives on SIM registration.Abubakar Malami, minister of justice and attorney general of the federation, said this while briefing [...]

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    Good news for Nigerian doctors, nurses as UK considers relaxing visa rule

Good news for Nigerian doctors, nurses as UK considers relaxing visa rule

The United Kingdom is set to exclude medical staff from the government's visa cap.Saffron Cordery, deputy chief executive of NHS Providers, told BBC Radio on Thursday that the rules are making it difficult to recruit enough staff.Theresa May, UK prime minister, introduced the visa limit for all non-EU skilled workers at 20,700 people a year."This is going to be a [...]

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    Inflation drops to 11.61% — below FG’s 2018 target

Inflation drops to 11.61% — below FG’s 2018 target

Nigeria's annual inflation has dropped to 11.61% in May, below the federal government's projection of 12.42% set in the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper.This is the 16th straight month of decline in inflation.Food inflation declined to 13.45% from 14.80% in April.According to the Consumer Price Index for May 2018 released on Wednesday, the highest increases were [...]

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    Court orders AMCON to pay Babalakin N3bn for branding him a debtor

Court orders AMCON to pay Babalakin N3bn for branding him a debtor

The federal high court sitting in Lagos has ordered the Assets Management Corporation of Nigeria (AMCON) to pay Bolanle Babalakin, chairman of Bi-Courtney Group of Companies, N3 billion for publishing his name as a debtor.In 2016, AMCON published the names of 217 people who it tagged its chronic debtors.In the case, FHC/L/CS/1296/2012, Ibrahim Buba, a justice of the court who [...]

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    Lagos arraigns Danish man who allegedly killed singer, daughter

Lagos arraigns Danish man who allegedly killed singer, daughter

The Lagos state government, on Wednesday, arraigned Peter Nielsen, the Danish man who allegedly killed his wife, singer Alizee and their three-year-old daughter, Petra. [...]

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    NCAA: December target for national carrier feasible

NCAA: December target for national carrier feasible

The Nigerian Civil Aviation Authority (NCAA) says the December 24 target set for the take-off of the national carrier is feasible.Mukhtar Usman, director general of the authority, made this known in a statement released on Tuesday.He said it would only take 90 days to get an Air Operator's Certificate (AOC).Hadi Sirika, minister of state for aviation, had said the national [...]

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    BOI announces N1bn fund for fashion entrepreneurs

BOI announces N1bn fund for fashion entrepreneurs

The Bank of Industry says it has set aside N1 billion to support fashion entrepreneurs.According to the bank, interested parties must be involved in the production and marketing of fashion items like clothes, handbags, shoes, jewellery and other fashion accessories.The bank also said it will support 'initiatives that can improve financial literacy and industrial entrepreneurship development for players in the [...]

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    Innoson admits it gave wrong information on supreme court ruling

Innoson admits it gave wrong information on supreme court ruling

Innoson Motors has admitted that it provided false information on the supreme court ruling in the case against Guaranty Trust Bank.In a tweet on its Twitter page on Tuesday, the company said its earlier statement was a misinterpretation of the supreme court's position."The management of Innoson Vehicles Manufacturing want to bring to the attention of the public to the caption: *Supreme [...]

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    Chimamanda Adichie wins 2018 PEN Pinter Prize

Chimamanda Adichie wins 2018 PEN Pinter Prize

The award, which was established in 2009 and named after Nobel Laureate, Harold Pinter, is given to writers of outstanding literary merit from Britain, Republic of Ireland and the Commonwealth. [...]

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    NBS says Nigerians paid more for diesel in May

NBS says Nigerians paid more for diesel in May

Consumers paid more to get diesel in May, the Premium Motor Spirit (Petrol) Price Watch and Automotive Gas Oil (Diesel) Price Watch reports released by the National Bureau of Statistics on Tuesday has shown.However, prices of petrol witnessed a slight drop in May compared to April [...]

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    Ghana to import fuel from Dangote’s refinery

Ghana to import fuel from Dangote’s refinery

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    Nigeria’s crude oil exports may drop to 1.4mbpd in July — way below 2018 budget benchmark

Nigeria’s crude oil exports may drop to 1.4mbpd in July — way below 2018 budget benchmark

Nigeria's crude oil export has been predicted to drop to 1.43 million barrels per day from an average of 1.79 million barrels.This is 900,000 barrels lower than the crude oil production benchmark set in the 2018 budget, which is 2.3 million barrels a day. [...]

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    Nigeria signs 5,660km gas pipeline agreement with Morocco

Nigeria signs 5,660km gas pipeline agreement with Morocco

Nigeria has signed an agreement with Morocco for the construction of a 5,660km gas pipeline.The agreement was signed on Sunday by President Muhammadu Buhari, who is currently on a working visit to the North African country, and Mohammed VI, king of Morocco. [...]

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    Samson, Jurassic World: Fallen Kingdom… 10 movies you should see this weekend

Samson, Jurassic World: Fallen Kingdom… 10 movies you should see this weekend

Some movies leave one with a feeling of glee while some poorly executed flicks make one want to puke, punch someone and throw a tantrum – all at once.To help you avoid such a situation that’d leave you fuming out of the cinema in utter disgust, TheCable Lifestyle recommends the following movies. [...]

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    Tekno: I didn’t go to school yet I count millions… it’s not fair

Tekno: I didn’t go to school yet I count millions… it’s not fair

Tekno, a popular Afropop singer, says it is not fair that graduates are unable to count millions like he does.In a series of videos on his Instagram stories, the artist whose birth name is Augustine Miles Kelechi, urged people to participate actively in governance so that the country can get better. [...]

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    REVEALED: Nigeria has not reviewed production sharing contracts since 2008

REVEALED: Nigeria has not reviewed production sharing contracts since 2008

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Exchange Rates

June 21, 2018USDGBPEUR
INTERBANK360.45492.18420.32
LAGOS362495425
KANO363495423
PH365494423
ABUJA364495423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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