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Minister of Power, Works and Housing, Babatunde Fashola has said in Abuja that Funding for the Lagos-Ibadan Expressway is captured in the 2016 budget and the road will be constructed despite court injunctions against its further development. Fashola said that the Federal Government would focus more to developing roads that carried heavy vehicular traffic across […]

President Muhammadu Buhari Wednesday in Abuja urged the World Bank to do all within its powers to facilitate the speedy repatriation to Nigeria of stolen funds still being held by Swiss authorities. 　 The President spoke when he received the visiting Managing Director of the World Bank, Ms. Sri Mulyani Indrawati. According to a statement […]

Here’s a statement from the Presidency concerning the alarming and continuous deadly attacks by Fulani herdsmen nationwide Following continuing reports of attacks by “herdsmen” on communities across the country, particularly Monday’s attack on Ukpabi Nimbo in Enugu State, President Muhammadu Buhari assures all Nigerians, once again, of his administration’s continued commitment to ensuring the safety […]Read More

Governor Akinwunmi Ambode of Lagos State yesterday, announced that the State Government has restructured 167.5 billion naira ($840 million) of bonds, potentially saving at least 40 billion by paying off the debt more quickly, though he did not mention when payment would be made. Ambode, said the restructuring was approved by the Securities and Exchange […]

US-based provider of equity, fixed income, and hedge fund stock market indexes, MSCI announced earlier in the month that it was considering yanking off Nigeria from its MSCI Emerging market index. A decision is expected to be announced tomorrow, April 29th. Information reaching Nairametrics however suggest that the decision to yank Nigeria off may however […]

Managing Director and Chief Executive Officer of Fidelity Bank Plc, Nnamdi Okonkwo, and some officials of the bank have been picked up by operatives of the Economic and Financial Crimes Commission, (EFCC). They are alleged to have received the sum of $115 million from one of the most powerful minister under the Goodluck Jonathan’s administration, […]

The depreciated Naira and falling oil prices could not stop pension funds in Nigeria from posting positive performances in Q1, howbeit modest. This is significant for pension fund contributors as the value of the pension fund is mostly at risk during economic downturns. A lot of Nigerians contribute about 8%of their Basic, Housing and Transport […]

Fidelity Bank just issued the following press release. FIDELITY BANK MD & EFCC, BANK IS COOPERATING WITH THE AUTHORITIES Transactions duly reported Fidelity bank is cooperating with authorities Fidelity Bank is working to resolve the issues Our attention has been drawn to reports in the media on investigations into transactions undertaken by the Bank in […]

FBN Holdings Plc, which is Nigeria’s biggest bank, by assets plans to cut 12.5 percent of its workforce in the coming year to help reverse last year’s 82 percent slump in profit. This is as the banks non-performing loans ratio stood at 22 percent at the end of March, compared with 3.8 percent a year […]Read More

HARMONISED regional trade policies and comprehensive national investment strategies could create at least three rivals to SA’s domination of the vehicle-manufacturing industry in sub-Saharan Africa, says a new report. The report, Navigating The African Automotive Sector, published on Thursday by Deloitte, says Nigeria, Kenya and Ethiopia have the potential to take advantage of a new-vehicle […]

Not sure how you feel about inter partes review, the relatively new administrative process for challenging patents? Neither is the Supreme Court, who struggled during oral arguments yesterday to determine what claims construction standards the Patent and Trademark Office should use in IPR proceedings. The case, Cuozzo Speed Technologies v. Lee, could have long-lasting implications, […]

A California appellate court case is illustrative of the state’s rather rigid doctrines against compensation to landowners for alleged injury to their property. The City of Beverly Hills prevailed against in a demurrer involving homeowners who claimed injury against the city for planting some redwood trees in a park some ways from their home. The […]