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Business and Economy

SOUTH AFRICA RETURNS $15 MILLIONS TO NIGERIA

The South African government has reportedly returned $15 million to the Nigerian government. The South African border authorities had on September 5, 2014 seized $9.3 million meant for the procurement of arms for the Nigerian military, from two Nigerians and an Israeli who arrived the country in a private jet. PR Nigeria, the consulting firm issuing statements on behalf of ...

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SUBSIDY DOES NOT BENEFIT THE SOUTH EAST, SOUTH SOUTH, NWUCHE TELLS BUHARI

Removing subsidy on petroleum products is the only way to tackle corruption. This view was expressed by Honourable Chibudom Nwuche, former Speaker of the House of Representatives who also urged President Buhari immediately put process in motion to effect the removal. Nwuche called for the removal insisting that continued subsidizing of petroleum products will benefit only the rich. The former ...

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GROUP DEMANDS REMOVAL OF OROSANYA FROM CBN BOARD

Civil Society Network Against Corruption has asked for the removal of The ‎former Head of Service, Stephen Oronsaye, from the board of the Central Bank of Nigeria. At a press conference in Lagos on Wednesday, the group also demanded Mr. Oronsaye’s removal as chairman of the Financial Action Task Force on account of his “dented integrity”. ‎ In a statement ...

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ZIMBABWE’S BILLIONAIRE AND RICHARD BRANSON TO INVEST IN KENYA’S ENERGY SECTOR

Zimbabwe’s richest man and founder of Econet Wireless, Strive Masiyiwa is on the frontlines to propel more investment into Kenya. According to Masiyiwa “Kenya has strong skills and a lot of people who can be trained and be developed which is what we want. I have always been comfortable about investing in Kenya and encouraging others to invest,” Masiyiwa possibly ...

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REFINERIES TO GULP $1 BILLION

Going by indications from the Nigerian National Petroleum Cooperation (NNPC), Nigeria would need about 1 billion US dollars to fix key pipelines that would help the refining of crude and its supply across the country. The prospect of Nigerian refineries starting operations is a welcome development. Reports have it that the Warri refinery as at last week had undergone maintenance. ...

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