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Business & Finance

I want my seized $10m, £74,000 back: Andrew Yakubu

Monday, February 20, 2017
Former Group Managing Director of Nigeria National Petroleum Corporation Andrew Yakubu has asked the Federal High Court in Kano to set aside the forfeiture order it gave last week in respect of the sums of $9,772,800 and 74,000 seized seized from his home. The federal court had made an interim ...

Sky taxi to fly in Dubai 'from July'

Monday, February 20, 2017
A drone that can carry people will begin regular operations in Dubai from July. Matter al-Tayer, head of the city's Roads and Transportation Agency has announced at the World Government Summit. Al-Tayer said that the drones have been inspected and certified by the nation's civil aviation aut ...

Mitsumi Secures Rights To Distribute HP Supplies Inthe Middle East

Wednesday, February 15, 2017
UAE ndash; February15, 2017: Mitsumi Distribution, the leading IT, Consumer Electronics and Telco distributor in the Middle East and Africa; today announced that it has been appointed by Hewlett Packard (HP) Middle East, as an Authorised HP Supplies Distributor for the Middle East region. ...

CBN says naira counterfeiting is less that one per cent per cent

Thursday, February 16, 2017
The Central Bank of Nigeria has debunked claims of high naira counterfeting, which speculation puts at about 20 per cent. In a statement by the regulator 8217;s Acting Director of Communication, Mr. Isaac Okoroafor, made available to The Rainbow on Wednesday, it denou ...

Pan-African Banking Finding its Stride

Tuesday, February 14, 2017
WASHINGTON D.C., United States of America, February 14, 2017/APO/ -- In the years since the global financial crisis, Africa has witnessed a rapid expansion of cross-border banking, led by banking groups based in Africa that are spurring financial and economic integration and transforming the cont ...

Imo Deputy Speaker Makes Case For Tax Collection

Monday, February 13, 2017
The Imo State Deputy Speaker, Rt. Hon. Ugonna Ozurigbo has made a case for the stiff adherence to tax payment by citizens of the country. This was made known to newsmen at the Ehime Mbano LGA Headquarters where the charismatic legislator visited to acquaint himself with the level of develo ...

How to survive “almost every” plane crash, aviation expert

Sunday, February 12, 2017
Almost all aircraft accidents are survivable with 87.7 per cent of incidents involving zero fatalities but there's one step which can massively increase your chances, an expert has explained. Last year, crew members who were pulled from the wreckage of the plane crash which wiped out nearly a ...

EFCC discovers $37.5m Lagos mansion belonging to Diezani

Saturday, February 11, 2017
The Economic and Financial Crimes Commission in another breakthrough in Lagos said that it has discovered the sum of N11.75bn allegedly said to be that of former Minister of Petroleum Resources, Diezani Alison-Madueke. Also Mr Ibrahim Magu, Acting Chairman of Economic and Financial Crimes Commission ...

How we found $9.2m stashed away Andrew Yakubu, ex-NNPC GMD, Kaduna home: EFCC

Friday, February 10, 2017
Mr Ibrahim Magu, Acting Chairman of Economic and Financial Crimes Commission (EFCC), on Thursday told a committee of the House of Representatives that $9.2 million and 750,000 pounds were recovered from a residence in Kaduna state. Although he did not indicate precisely when the raid by EFCC oper ...

Why we took over Arik Air: AMCON

Friday, February 10, 2017
The Assets Management Corporation of Nigeria (AMCON) on Thursday said it has taken over the operation of Nigeria's largest domestic carrier, Arik Air. Mr Jude Nwauzor, AMCON spokesperson, confirmed the development to newsmen in Lagos. Nwauzor said the airline would now be managed by Capt. Roy ...

How new bill will expose bad borrowers - CIBN President

Thursday, February 9, 2017
The President of the Chartered Institute of Bankers of Nigeria during the public hearing of a Bill before the National Assembly has stated that the speedy passage of the new bill will expose bad borrowers in the financial system that has slowed down economic growth of the co ...

Court okays EFCC's motion for freezing of N75m account belonging to Mike Ozekho

Wednesday, February 8, 2017
A Federal High Court sitting in Lagos on Tuesday ordered the temporary forfeiture of N75 million the Economic and Financial Crimes Commission (EFCC) said it discovered in the account of Chief Mike Ozekhome (SAN). The court presided by Justice AbdulAziz Anka gave the order while delivering rulin ...

VIDEO: Cosmas Maduka joins Peace Hyde on Forbes Africa My Worst Day in Business

Sunday, February 5, 2017
ldquo;You don rsquo;t really understand who you are until you meet a desperate situation and life and death is before you rdquo; Cosmas Maduka joins Peace Hyde on Forbes Africa My Worst Day. The Forbes My Worst Day series is back with another titan in the hot seat, automotive components l ...
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