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Business News

BPE defends N130bn as likely pension claims of PHCN workers

The Bureau of Public Enterprises (BPE) has defended the Federal Government’s decision to set aside N130 billion to settle pension claims of the Power Holding Company of Nigeria (PHCN) workers.

 

Alwafeer Air assures on quality services to 2010 hajj pilgrims

By Musa Adamu

Alwafeer Air, the second Kingdom of Saudi Arabian (KSA) national carrier contracted by the National Hajj Commission of Nigeria (NAHCON) to airlift intending pilgrims to Saudi Arabia, has assured all passengers of quality service.

 

BP sells $1.8bn assets to help pay for oil spill bill

BP is to sell business interests in Vietnam and Venezuela for $1.8bn (£1.1bn) as it raises funds to pay for the Gulf of Mexico oil spill.  They are being bought by Russia’s TNK-BP, which is half-owned by BP.

 

Nigerian CEOs’ blame poor corporate governance on weak regulatory framework

Some chief executive officers (CEOs) of companies in Nigeria on Wednesday identified weak corporate and individual regulatory framework as the cause of collapsed corporate governance in the country.

 

FEC ratifies upgrade of Enugu airport to int’l standard

The Federal Executive Council (FEC) on Wednesday ratified the upgrade of the Akanu Ibiam Airport, Enugu, to international standards.
The Minister of Information and Communications, Prof. Dora Akunyili, disclosed this after the FEC meeting presided over by President Goodluck Jonathan.

 

2011: No cause for alarm on investment climate, says Sambo

By Yusuf Ozi-Usman

Vice-President Mohammed Namadi Sambo has assured local and foreign investors that the 2011 general elections will not affect the investment climate in Nigeria, saying that government is making all efforts to ensure policy continuity.

 

Electricity Union indicts presidential aide on power

By Musa Adamu

The leadership of the National Union of Electricity Employees, (NUEE), Abuja zone, has accused Senior Special Assistant on Power to the President, Prof. Bath Nnaji, of intimidation, threat and blackmail because of the union’s insistence on power improvement.

 

FG, Global steel reconcile over Ajaokuta/NIOMCO

There are indications that the reconciliation between Federal Government and Global Infrastructures Nigeria Limited (GINL) over termination of Share Purchase Agreement on Ajaokuta Steel Company Limited and the Concession Agreement on the National Iron Ore Mining Company (NIOMCO) has reached advanced stage.

 

Businessman faces N1.1m fraud charge

A businessman, Nurudeen Ibilola, has been charged before an Igbosere Chief Magistrate’s Court, Lagos, for allegedly obtaining N1.1 million under pretext.

 
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