The House of Representatives yesterday adopted the report of its ad hoc committee which investigated the “near collapse” of the Nigerian capital market insisting that the Director General of the Securities and Exchange Commission (SEC), Ms Arunma Oteh, must be sacked by the Federal Government.
Updated 7 Years ago

Chika Amanze-Nwachuku and Ejiofor Alike If the Petroleum Industry Bill (PIB) forwarded to the National Assembly Wednesday is passed as it is, the law will require the Federal Government to divest 30 per cent of its shareholding in the National Oil Company (NOC) and sell the shares on the Nigerian Stock Exchange (NSE).
Updated 7 Years ago

A Federal High Court in Abuja has asked the Chairman of the Independent National Electoral Commission, Prof. Attahiru Jega, to explain why he disobeyed its order barring the use of collapsible transparent ballot boxes for the July 14 governorship election in Edo State.
Updated 7 Years ago

The new Petroleum Industry Bill is going to make the Petroleum Minister more powerful than she already is if it passes through the National Assembly as submitted by President Jonathan. Mrs Diezani Alison-Madueke will become chairman of the boards of plum parastatals in the ministry and also have powers to scrap the Petroleum Equlisation Fund which ensures the uniformity of petrol prices all over the country, according to contents of the bill, a copy of which was seen by Daily Trust in Abuja yesterday.
Updated 7 Years ago

The flattening credits to the private sector is having negative effects in the consumer goods sector as banks prefer to lock up funds in government securities instead of lending.
Updated 7 Years ago

There was uproar in the House of Representatives Thursday as lawmakers reviewed the implementation of this year’s budget, which the National Assembly passed on March 15. The lawmakers, majority of who criticised the executive for the alleged poor and selective implementation of the budget, gave President Goodluck Jonathan up until September, when they would resume from recess, to ensure effective implementation of the budget or face impeachment.
Updated 7 Years ago

North Korea's sudden dismissal of Ri Yong Ho from his post as army chief and from all his government posts caught many watchers of the secretive regime of Kim Jong Un by surprise and wondering what was going on.
Updated 7 Years ago

A new World Bank report has disclosed that the number of mobile subscriptions in use worldwide, both pre-paid and post-paid, has grown from fewer than 1 billion in 2000 to over 6 billion now, of which nearly 5 billion in developing countries.
Updated 7 Years ago

Conoil Plc yesterday declared dividends of N1.73 billion, which translate into N2.50 per share for the year ended December 31, 2011. The gross dividends recommendation implies an increase of 25 per cent, from N2 per share for r 2010 financial year to N2.50 for the 2011 financial year.
Updated 7 Years ago

A former Director-General at the West Africa Monetary Institute, Accra, Dr. Okwu Joseph Nnanna, has said that the budget of the Central Bank of Nigeria (CBN) cannot be decided by members of the National Assembly because of the dynamic nature of the apex bank’s operations.
Updated 7 Years ago