Business News

FG takes over Arik Air, appoints Ilegbodu as new helmsman

By Abimbola Fashakin, Lagos The Federal Government has announced the take over of Arik airlines in what sources in the aviation industry said is aimed at avoiding job losses.

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Alleged graft: EFCC grills Arik Air chairman, Arumemi-Ikhide

By Abimbola Fashakin, Lagos Operatives of the Economic, Financial and Other Crimes Commission (EFCC) have grilled the Chairman of Arik Air, Sir Joseph Arumemi-Ikhide over suspected allegation of graft in the management of the company.

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ITF sets up 4 new area offices, reshuffles management team

By Abimbola Fashakin, Lagps The Industrial Training Fund (ITF) has established four new area offices across the country in its bid to bring its services closer to the people.

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Free fall continues as Nigerian equity market drops further by 0.55%

By Abimbola Fashakin, Lagos The free fall of stocks continued on the Nigerian Stock Exchange (NSE) on Tuesday with the All-Share Index dropping further by 0.55 per cent.

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FG launches waste to wealth programme in Cross River

By Wahab Akanji, Abuja The Federal Ministry of Science and Technology in Collaboration with the Cross River State Government has flagged- off a natural waste to wealth programme, using appropriate technologies.

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Tragedy as NSE market capitalisation loses N74 bn on Monday

By Abimbola Fashakin, Lagos Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday on a downward trend with the market capitalisation losing N74 billion, amid profit taking embarked upon by investors.

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Ambassador says Nigeria not affected by entry restriction into US

By Wahab Akanji, Abuja The U.S. Ambassador to Nigeria, Mr Stuart Symington, has stated that his home country would not discriminate against any Nigerian on the basis of religion on the new visa regime.

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Dangote tomato firm set to restart production, tours states for materials

By Musa Madobi, Kano Dangote Tomato Processing Factory, Kadawa, Kano State, has begun survey of tomato farms in six major tomato producing states to ascertain the level of availability of the commodity.

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Naira slides to N500/$ at parallel market

By Abimbola Fashakin, Lagos The Naira has finally depreciated further trading at N500 per Dollar the parallel market after it had remained stable for nearly three weeks.

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128 firms bid for NNPC crude, products swap

By Abimbola Fashakin, Abuja The Nigerian National Petroleum Corporation (NNPC) has opened bids from 128 companies that are jostling for this year’s crude/product swap otherwise known as Direct Sale Direct Purchase (DSDP).

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