Trapped $464m: British Airways closes inventory on Nigeria, CBN intervenes
Business

Trapped $464m: British Airways closes inventory on Nigeria, CBN intervenes

The national association of Nigeria travel agencies (NANTA) says British Airways (BA) has closed inventory on Nigeria in the global distribution system (GDS), over foreign airlines’ trapped $464 million. Susan Akporiaye, president of NANTA, said this on Friday. A global distribution system (GDS) is a computerised network system owned or operated by a company that

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Military intercepts N3.7b stolen oil in Niger Delta, raids terrorists hideouts in Abuja
Business Crime

Military intercepts N3.7b stolen oil in Niger Delta, raids terrorists hideouts in Abuja

The Defence Headquarters, on Thursday, said a combined troops of Operations Delta Safe, Octopus Grip and Dakar Da Barawo, intercepted petroleum products worth N3, 708,259,338.00 from suspected oil thieves in the Niger Delta within two weeks. The military high command also said troops of the Nigerian Army’s Guards Brigade raided suspected terrorists’ hideouts at Deidei

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PAJCCI urges Pak-Afghan businesswomen for bilateral trade
Business International

PAJCCI urges Pak-Afghan businesswomen for bilateral trade

LANDIKOTAL: Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI) held a joint meeting with all stakeholders and discussed various issues focused on regional business connectivity via Torkham and other border points.  Pakistan Afghanistan Joint Chamber of Commerace and Industries vice president Ziaul haq Sarhadi told The News on Thursday  that the meeting was also attended by

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Abuja-Kaduna train attack: FG gives reason for continued suspension of service
Business

Abuja-Kaduna train attack: FG gives reason for continued suspension of service

The Federal Government, on Wednesday, said recommencing the Abuja-Kaduna train service while some of the passengers kidnapped by terrorists during the March 28 train attack will be insensitive to their families. This was as it said measures were underway to employ advanced technology-based surveillance systems to forestall future terrorist attacks. It said the options available

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Demolish kidnappers' den in markets - Traders urge Soludo
Business Featured

Demolish kidnappers’ den in markets – Traders urge Soludo

Traders in Building Materials International Market Zone 2/3 Ogidi/Ogbunike, Anambra State have decried growing rate of crime perpetrated along the expressway right in front of the market by kidnappers, hard drug dealers and robbers.  They called on Governor Chukwuma Soludo to demolish makeshift structures directly in front of the market to curb incessant criminal activities

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Security operatives recover N86b stolen oil in August
Business

Security operatives recover N86b stolen oil in August

Different government security outfits operating across the country have recovered stolen oil worth N86.2bn in August, according to energy sources. A total of 16, 000 litres of diesel valued at N800/litre (N12.8m) were on Monday reported to have been recovered by members of the Nigeria Security and Civil Defence Corps in Cross River. Speaking with

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Breaking: Anambra extends ban on motorcycle operations to Nnewi, Ekwulobia
Business Metro

Breaking: Anambra extends ban on motorcycle operations to Nnewi, Ekwulobia

Anambra State government has extended motorcycle ban in urban cities of Ekwulobia and Nnewi with immediate effect. Commissioner for Information, Sir Paul Nwosu, who disclosed this after State Executive Council meeting said the decision followed rising insecurity in the areas.  Before now, former governor, Chief Willie Obiano, had banned motorcycle operations, otherwise, known as okada

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We will reveal identities of big men behind oil theft in Nigeria – Presidency
Business Economy

We will reveal identities of big men behind oil theft in Nigeria – Presidency

The office of the National Security Adviser (NSA) would soon reveal the identities of highly placed Nigerians behind oil theft in the country. The Senior Special Assistant to President Muhammadu Buhari on Media and Publicity, Garba Shehu disclosed this when he appeared on a Trust TV programme. Shehu revealed that security operatives recently raided locations

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Market leadership crisis tears Anambra Permsec, traders apart
Business

Market leadership crisis tears Anambra Permsec, traders apart

Traders under the platform of Old Aguata Union, OAU, Friday, have called for the intervention of the Anambra State Ministry of Commerce and Industry over the leadership crisis rocking the Onitsha Bridgehead market, over alleged disobedient to court order. The traders also demanded for the sack of the leadership led by Mr Sunday Obinze. Addressing

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SEC announces N177bn unclaimed dividends at Capital Market
Business Featured

SEC announces N177bn unclaimed dividends at Capital Market

The Securities and Exchange Commission, on Friday, announced that the unclaimed dividends at Nigeria’s capital market so far computed increased from N168bn in 2020 to N177bn in 2021. Director-General, SEC, Lamido Yuguda, disclosed this in Abuja while speaking on some of the outcomes of the second Capital Market Committee meeting held recently in Abuja. Responding

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Emirates Airline gives reason for planned suspension of flights to Nigeria
Business

Emirates Airline gives reason for planned suspension of flights to Nigeria

There are indications that the failure of Emirates Airlines to repatriate its trapped ticket sales fund in Nigeria back to its home country in the United Arab Emirates (UAE) may have led to the carrier’s decision to stop all flights in and out of the country. The airline in a statement on Thursday morning said

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No fewer than 40 buildings undergoing construction in Building Materials Market (Timber shade) Umuokpu Awka have been marked for demolition.
Business

Outcry as Anambra govt marks 40 buildings for demolition in Awka timber market

No fewer than 40 buildings undergoing construction in Building Materials Market (Timber shade) Umuokpu Awka have been marked for demolition. Commissioner for Commerce and Industry, Dr Obinna Ngonadi who disclosed this while visiting the market in company of Managing Director of Awka Capital Territory Development Authority (ACTDA) Barr Amaechi Okwuosa, said the buildings and other

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Onitsha extends main market time over Monday sit-at-home
Business

Onitsha extends main market time over Monday sit-at-home

Leadership of main market in Onitsha, Anambra State has extended market hours from 5pm to 6pm daily. Chairman, Caretaker Committee, Chief Innocent Ezennia who disclosed this to reporters on Wednesday said the extension was to cover paralysed business activities ocasioned by the weekly Monday sit-at-home directive. “Formerly, traders will be in a hurry because we

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Southeast in darkness as electricity workers begin strike
Business

Southeast in darkness as electricity workers begin strike

Enugu Electricity Distribution Company PLC (EEDC) on Wednesday announced temporary shut down of power supply following industrial strike action by National Union of Electricity Employees (NUEE) at the Transmission Company of Nigeria (TCN) power stations. The Head Corporate Communications, Emeka Ezeh in a statement said consultations were on among critical stakeholders in the power sector

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