Category archives for: Business

Nigerian Stock Exchange (NSE) Bans 35 Stockbroking Firms (SEE NAMES)

LAGOS DECEMBER 29TH (NEWSRANGERS)-The Nigerian Stock Exchange (NSE) says 35 stockbroking firms have been expelled. In a notice published in Punch newspaper, the exchange said the decision was reached after a special meeting of its national council on December 13. The NSE said the public should not deal with the expelled firms in relation to […]

Business Mogul, Femi Otedola Sells Forte Oil

LAGOS DECEMBER 25TH (NEWSRANGERS)-Nigerian businessman, Femi Otedola, has agreed to sell the entirety of his 75 per cent direct and indirect shareholdings in Forte Oil. In a letter sent to the Nigerian Stock Exchange and signed by Akinleye Olagbende, the general counsel of Forte Oil, Otedola said he was divesting from the company in order […]

GoodNews: Shell Targets 300m Cubic Feet Gas For Domestic Market

LAGOS DECEMBER 24TH (NEWSRANGERS)-The Shell Petroleum Development Company of Nigeria Limited (SPDC) has announced the Final Investment Decision (FID) on the Assa North Gas Development Project in Imo State, a major momentum to the domestic gas aspiration of the Federal Government for increased power generation and industrialisation. At peak production, the project is expected to […]

Shell Emerges Local Content Operator Of The Year 2018

LAGOS DECEMBER 12TH (NEWSRANGERS)-The Shell Petroleum Development Company of Nigeria Limited (SPDC) has emerged the Local Content Operator of the Year 2018 at the Annual Oil Industry Achievement Awards Dinner of the Petroleum Technology Association of Nigeria (PETAN,) an association of indigenous technical oilfield service companies in the upstream and downstream sectors. This marks the […]

Diamond Bank Set To Reward Over 1,000 Customers In Season 10 Quarterly Draw

LAGOS DECEMBER 4TH (NEWSRANGERS)-Leading retail lender, Diamond bank is set to reward over 1000 customers in the third DiamondXtra season 10 quarterly draw which will take place on Friday, December 7, 2018 at its Mobolaji Bank- Anthony branch in Ikeja, Lagos. Addressing newsmen at the bank’s Head Office in Lagos, Osita Ede, Head, Consumer Liability […]

Minimum Wage: Dockworkers Get Pay Rise To N150,000

LAGOS NOVEMBER 27TH (NEWSRANGERS)-President-general of the Maritime Workers Union (MWUN), Comrade Adewale Adeyanju, at the weekend said private terminal operators at the nation’s seaports have substantially increased the wages earned by dockworkers from an average of N10,000 before the 2006 port concession to about N150,000. Adeyanju, who stated this while speaking with newsmen in Lagos, […]

Diamond Bank Debunks Report On Merger, Acquisition

LAGOS NOVEMBER 12TH (NEWSRANGERS)-Diamond Bank has reacted to speculations in a section of the media that the bank is purportedly in discussions with Access Bank Plc to acquire the bank. The bank, in a statement issued on Monday, was categorical that it is not in discussions with any financial institution at the moment on any […]

Access Bank To Absolve Diamond Bank

LAGOS NOVEMBER 12TH (NEWSRANGERS)-Access Bank is set to add Diamond Bank’s portfolio to its assets in the next few months. According to The Nation, talks on the acquisition are on, according to sources, who said the fusion is set for the first quarter of next year. Both financial institutions have reached an agreement in broad […]

45 Indigenous Firm Showcase Potentials At SNEPCO Exhibition

In-country value in the oil and gas sector received a major boost from the Shell Nigeria Exploration and Production Company (SNEPCo) as over 45 indigenous service firms subscribed to the just-concluded SNEPCo Nigeria Content Exhibition in Lagos, a platform for the firms to showcase their capacities and capabilities to regulators and major players in the […]

Ship Owners Urge FG To Investigate Alleged N108bn Missing At NIMASA

LAGOS OCTOBER 1ST (NEWSRANGERS)-Worried by the Cabotage Vessels Finance Fund (CVFF), which position and disbursement are not clear to members of the public, Ship owners in the country have called on the Federal Government to urgently put measures in place to unravel the mystery behind the $300 million (N108 billion) CVFF said to have disappeared […]

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