Category: News

Reps Deputy Speaker vows not to fly local airlines in Nigeria.

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Yusuf Lasun, Deputy Speaker, House of Representatives, on Tuesday said that he has continuously refused to fly local airlines in Nigeria because of the deficiencies in the operations and managements of the airlines. Lasun who stated this when he represented the Speaker, Yakubu Dogara in a public hearing organised by the House Committee on Aviation on the need to rescue airline industry from imminent collapse, said that he took the decision as a result of the crash of airlines in the country. Minister of state for Aviation, Hadi Sirika has…

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Two Nigerians killed in S/Africa

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The death of two Nigerians has been confirmed by the Nigerian Union in Pretoria. The two Nigerians, residing in Pretoria South Africa were killed this month. The Secretary of the union, Mr Adetola Olubajo, told newsmen in Pretoria on Tuesday that the first victim, one Adeniyi Olumoko, a petty trader, was stabbed to death on Oct.7. Olubajo said that Olumoko, 37, an indigene of Ogun, was killed at Marabastard in Pretoria by a South African, who forcefully took the victim’s goods without paying. He cited witnesses as saying that Olumoko…

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Power Outage: Ikeja Electric appeals to customers

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In a statement made available, the management of Ikeja Electricity Distribution Company, IE, has pleaded with its customers over power outage, blaming it on faulty 100MVA transformer at Ejigbo Transmission Station as well as other multiple faults along the network in that area. The management of IE stated that, “it regrets the prolonged outage witnessed by our customers in and around Ejigbo, Oke Afa, Ikotun Egbe, Egan, Igando, Arepo, Warewa and Channels Television axis. “The outages are due to a faulty 100MVA transformer at Ejigbo Transmission Station as well as…

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Overstaying pilgrims to be fined and jailed in Saudi Arabia

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A crackdown on foreign pilgrims overstaying their Hajj visas has started in Saudi Arabia on Monday, local newspaper Okaz reported. Offenders will have to pay an equivalent of 13,329 U.S. dollars in fine, face six months in jail and deportation, the paper said. Those who transport, recruit or shelter overstayed pilgrims will face up to 26,662 dollars in fine and six months in jail. The visa for pilgrims, or Hajj visa, cannot be renewed. Those with such visas cannot take up jobs or go outside Mecca. Saudi authorities said around…

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Oando Marketing changes name to OVH Energy Marketing

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Chief Executive Officer, CEO of Oando Marketing Limited, Yomi Awobokun, has announced a change of the company’s brand name to OVH Energy Marketing Limited to reflect the recent recapitalisation and corporate restructuring aimed at  admitting new shareholders. He disclosed that the name change was necessitated by the entrance of two investors, Vitol and Helios, world renowned oil trading companies. He stated: “Notwithstanding, the name change the company will continue to use the existing Oando brand name in conducting its retail activities by virtue of a brand license granted by Oando…

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Returns on investment improves -UBA

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Year-to-Date, YtD, returns of the United Bank for Africa, UBA, had galloped to 3.7 per cent from a zero bottom out just before the announcement of the result last Tuesday, but receded to 2.0 per cent at close of trading yesterday. It is believed the stock was resilient against the general bearish trend in the market in the past one week with yesterday’s closing positions for NSE All Shares Index, ASI, depreciating 3.52 per cent. Despite the receding bullish sentiment yesterday, UBA stock still remained significantly above NSE ASI’s YtD…

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Dangote to increase sugar production to 2m metric tons annually

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The Acting Group Managing Director of Dangote Group, Mr. Abdullahi Sule has said that Dangote Sugar Refinery Plc, a member of Dangote Group, plans to produce between 1.5 and 2 million metric tons of refined sugar annually from locally produced sugarcane. The Acting Group Managing Director, made the disclosure at the 2016 World Food Day celebrations organised by Lagos State Government. Sule, who was represented by the company’s manager, Mr. Braimah Ogunwale said that the target was in line with its backward integration master plan. He said, “Our efforts are…

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Saving Xtra Promo: Diamond Bank pampers customers with SUV, cash

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Restating its commitment to promote savings culture and guaranteed customers’ satisfaction, Diamond Bank plc gave out a brand new SUV and N25 million in the SavingsXtra promotion draw for its south-south customers at Odual Road branch of the bank, Port-Harcourt recently. The event which attracted industry stakeholders, relevant regulatory bodies, customers, shareholders, journalists and management staff of the bank saw Mr. Imariagbe Austin of the Sapele Road branch, Benin City emerge as the winner of the star prize of a brand new SUV. Other 10 lucky winners went home with…

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Philips Launches Clipper designed to eliminate rashes and bumps

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Philips International, under its Personal Healthcare Business Unit, has introduced to the Nigerian market, the first of its kind clippers designed to ensure no after-shave bumps and rashes. The company said the new clippers have specially developed blades to reduce the risk of cuts when clipping your hair or beard, offering the confidence of a precise cut and shave without the humiliating damaged skin. The company also said the new Clippers are designed to give a close precision cut or shave, cutting the hair at skin level. It added that…

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How GTBank is Redefining Corporate Social Responsibility

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The concept of Corporate Social Responsibility (CSR) developed alongside the emergence of corporations more than a century ago and is now practiced by most companies and institutions around world. While corporations may vary in their level of commitment to CSR, their practice is largely focused on corporate philanthropy such as donating to charities, supporting causes or sponsoring individuals, groups and programmes. However, some companies, intent on making their CSR impact more effective, are rethinking this approach. Among these companies is Guaranty Trust Bank (GTBank) plc, a leading African financial institution…

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