The ongoing delineation of federal and states constituencies by the Independent National Electoral Commission (INEC) will shave no immediate implications or distort the current senatorial, federal and states constituencies in the run-off to the 2015 general election. Also, INEC has said the process cannot be concluded and submitted to the National Assembly for its official seal until after the 2015 general election.
Updated 5 Years ago

The All Progressives Congress (APC) has appointed a former Head of State, Major-General Muhammadu Buhari (rtd), former Vice-President, Atiku Abubakar and former Lagos State Governor, Senator Bola Tinubu into its Board of Trustees (BoT). Other top party leaders who made the over 74 membership of the BoT are: former Abia State Governor, Dr. Ogbonnaya Onu, Bisi Akande, Audu Ogbeh, Chief Tom Ikimi, Alhaji Gambo Magaji, Tony Momoh, Kawo Baraje, Timipre Silva, and Aminu Bello Masari.
Updated 5 Years ago

Ahead of next year’s general election, the All Progressives Congress (APC) has set October as the timeline for the commencement of its primary elections leading to the election of its presidential candidate. The party at its National Executive Committee (NEC) meeting held yesterday in Abuja, approved the use of modified direct primaries for arriving at the choice of candidates for all subsequent elections.
Updated 5 Years ago

The Enugu State Government has described as false and misleading the claims by the embattled Deputy Governor of the state, Sunday Onyebuchi, that Governor Sullivan Chime operates a poultry and piggery at the Government House. A statement signed by the Chief Press Secretary to the governor, Chukwudi Achife, further said the deputy governor’s claims were malicious and intended to deceive the public.
Updated 5 Years ago

The Nigerian National Petroleum Corporation (NNPC) has disclosed that about 34,047 cases of pipeline vandalism were recorded in parts of the country between 1999 and 2013. Also, about 1.3 million metric tonnes of crude oil was said to have been lost to the illicit act between 2009 and 2012. The Group Managing Director (GMD) of the NNPC, Dr. Joseph Dawha, stated this yesterday at the annual NAEC conference with a theme: ‘Pipeline Vandalism and its Socio economic Impact on the Nation.’
Updated 5 Years ago

Dangote Cement Plc has recorded a slim growth in earnings for the half year period ended June 30, 2014. The results released on the floor of the Nigerian Stock Exchange (NSE) showed that its earnings went up marginally by 5.26 per cent to N208.91 billion from N198.46 billion in the prior year.
Updated 5 Years ago

Guaranty Trust Bank Plc’s (GTBank’s) financial results for the half year ended June 30, 2014 showed that its pre-tax profit dipped by 6.92 per cent to N53.39 billion, N57.4billion recorded the corresponding year. Similarly, its profit after tax declined to N44 billion as at the period under review, from N49 billion last year. However, the results showed that the financial institution’s gross earnings rose to N132.98 billion in the six months to June 30, from N124.20 billion a year earlier.
Updated 5 Years ago

The Central Bank of Nigeria (CBN) yesterday put the value of financial transactions carried out through automated teller machines (ATMs) as at June 2014 at N1.7 trillion, up from the N1.3 trillion it was as at 2012. Equally, the volume of ATMs deployed in the country also rose from 10, 727 in 2012 to 15,000 as at June 2014.
Updated 5 Years ago

Ghanaian investment-advisory firm, Weston Capital has launched the country’s first sector-focused fund aimed at boosting local participation in the country’s oil and gas industry. The open-ended mutual fund called Weston Oil and Gas Fund (WOGFund) launched Wednesday in Accra, Ghana’s capital city, seeks to build the financial strength of indigenous companies in the sector.
Updated 5 Years ago

Nigeria’s leading financial institution, Guarantee Trust Bank (GTB), on Thursday, released its audited financial results for the half year ended June 30, 2014 which showed a 7 percent increase in gross earnings, from N124 billion in the corresponding year period 2013 to N132 billion, but profit before tax dipped by a similar profit margin to N53.40 billion in the first half of the year from N57.4 billion recorded in H1 2013. Reuters news agency reports that the dip in profit prompted the bank’s shares were down 2.03 percent to 28.90 naira at 1050 GMT. GT Bank however declared an interim dividend of 0.25 naira, unchanged from a year earlier.
Updated 5 Years ago