Business News

Anti-corrruption group petitions EFCC against Fedelity Bank boss demands arrests

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An anti-corruption advocacy group, Global Integrity Crusade Network (GICN) on Monday criticised the anti-graft agency, Economic and Financial Crimes Commission (EFCC) over an alleged cover-up of a case involving the Managing Director/Chief Executive Officer of Fidelity Bank Plc, Mr Nnamdi Okonkwo. The GICN in a letter dated 14th October, 2019, signed by its Chairman, Board …

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Fidelity Bank workers demand Okonkwo sack, threaten to paralyse company’s activities over entitlements

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Workers with Fidelity Bank Plc across Nigeria have vowed to disrupt business activities of the bank if demand on payment of their entitlements by the management is not met within five working days. The workers, under the aegis of Concerned Note Counters Association of Fidelity Bank (CNCAFB) and Global Integrity Crusade Network (GICN) are reacting …

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Unemployed allegedly steals N68,700 to play BetNaija

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 24-year-old applicant, Samson Ojowuro, on Monday appeared before an Ikeja Chief Magistrates’ Court, for allegedly stealing N68,700 to play Bet Naija game. The defendant, who resides at No. 125, Ayobo Road, by Oja Bus Stop in Ipaja Lagos, was arraigned on a count charge of stealing, but he pleaded not guilty to the charge. According …

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Huawei’s $105 billion business at stake after U.S. exports blacklist

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The latest U.S. broadside against Huawei that puts the Chinese firm on an exports blacklist threatens to rattle the global tech supply chain, linked closely to the $105 billion business of the world’s top supplier of telecoms network equipment. The Trump administration has said it would add Huawei Technologies and 70 affiliates to its “Entity …

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Barca vs Liverpool: See how much Nigerian singer Kcee lose in bet

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 Nigerian singer Kingsley Chinweike, popularly known as Kcee, has lot a whooping amount of N1 million after betting over who will win the Barcelona versus Liverpool match. The singer, had taken to his twitter page before the ‘big game’ to give  the money to one @mrchidozie, a die-hard Liverpool fan on Twitter, if his team …

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See why Nigeria air passenger traffic increased by 3.9 per cent in Q1 2019 – NCAA

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No fewer than 3,319,720 air travellers passed through Nigeria airports between January and March 2019. The Consumer Protection Department of the Nigerian Civil Aviation Authority (NCAA) made this known in a document obtained by the News Agency of Nigeria (NAN) in Lagos on Wednesday. NAN reports that the figure represents a 3.96 per cent increase …

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‘I’m Tired Of This Country’, Says Motorist In Akure As Petrol Scarcity Bites, Price Reaches N180/Litre

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[ad_1] Consumers of the Premium Motors Spirit (PMS), best known as petrol, in Ondo State are groaning following a scarcity of the product, with one of them telling Saharareporters: “Honestly, I am tired of this country.” Findings by SaharaReporters on Saturday showed that the scarcity has made many of the consumer to engage in panic …

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UBA Asks Court To Close Down Sahara Energy Over KEPCO’s N15bn Loan

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[ad_1] United Bank for Africa (UBA) Plc has filed a winding up petition against Sahara Energy Resource Limited (Sahara Energy) at a Federal High Court in Lagos. The petition was based on a N15 billion indebtedness of KEPCO Energy Resources Limited (KEPCO), which Sahara Energy had stood for as guarantor. A winding up petition is …

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‘We’re Not Indebted To UBA’ — Sahara Energy Responds To UBA’s Winding-Up Petition

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[ad_1] Sahara Energy Resource Limited (SERL) says it is not indebted to the United Bank for Africa (UBA) neither did it grant a direct guarantee to UBA on any loan transaction that the bank could unilaterally enforce or sue on. Sahara Energy stated this on Saturday in its response to UBA’s filing of a winding …

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Court Remands Company MD In Prison For ‘Trading In’ Adulterated And Substandard Engine Oil

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[ad_1] Cajetan Chike Muonagolu, a businessman, has been remanded in prison custody by Justice Saliu Saidu of the Federal High Court, Ikoyi, Lagos.  He pleaded not guilty to a four-count charge bordering on dealing in adulterated and substandard engine oil. The court admitted Muonagolu to bail in the sum of N50million with two sureties in the like …

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