Nigeria needs $1.2b to fix its three refineries‎ – Kachikwu

Minister of State for Petroleum Resources, Ibe Kachikwu on Thursday disclosed that Nigeria would need about $1.2 billion to fix the three refineries of the Nigerian National Petroleum Corporation (NNPC). The minister, who spoke at a news briefing in Abuja on Thursday, said reports of the concession of Port Harcourt refinery to Oando and Agip companies More...

by Bar and Bench | Published 2 weeks ago
By Bar and Bench On Thursday, June 8th, 2017
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N120bn Road Project: Senate summons Fashola

Moves to halt extra-budgetary spending at CBN Confirms 82-year- old as ambassador The Senate on Wednesday gave its nod to a legislation aimed at halting what it called extra budgetary expenditure by the Central More...

By Bar and Bench On Thursday, June 8th, 2017
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N16.5bn Unpaid Loan: Four banks in court, move to take over assets of Metal Africa Steel Products to recover facility

By Temitope Stephen A consortium of four banks, through their trustee—United Capital Trustees Limited and Receiver/Manager, Gbenga Akinde –Peters—have requested a Federal high court sitting in Lagos to give More...

By Bar and Bench On Monday, June 5th, 2017
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We are not planning fuel price increase through National Road Fund bill—Saraki

The Senate President, Dr. Bukola Saraki, has assured that the senate would not do anything to increase the current pump price of Premium Motor Spirit (PMS), also known as petrol. Senate is presently working on More...

By Bar and Bench On Sunday, May 28th, 2017
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Forex Intervention  Policy : Oil marketer drags FG  to court

In a bid to forestall the continued implementation of alleged discriminatory Forex investment  policy to the advantage of some importer of Petroleum products, an independent Oil marketer in the down stream sector More...

By Bar and Bench On Saturday, May 27th, 2017
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AMCON concludes plans to sell PAN, recovers N134b in 2016

Asset Management Company of Nigeria (AMCON) has said that it recovered N134 billion in 2016 alone. But it clarified that not all were cash. The breakdown of the figures shows N86.9 billion was collected in cash; More...

By Bar and Bench On Saturday, May 27th, 2017
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Under-dispensing: DPR wields big stick, seals NNPC filling station, 11 others in Kogi

The Department of Petroleum Resources (DPR) in Kogi State on Friday sealed 12 filling stations for under-dispensing fuel to unsuspecting members of the public in the state capital, Lokoja. The NNPC filling station More...

By Bar and Bench On Friday, May 26th, 2017
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At last, Senate passes Petroleum Industry Governance Bill, scraps NNPC

The Senate on Wednesday passed the Petroleum Industry Governance Bill (PIGB), 2017. This followed the final consideration and adoption of the report of the Senate Joint Committee on Petroleum (Upstream, Downstream More...

By Bar and Bench On Friday, May 26th, 2017
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UBA launches new mobile banking app

The United Bank for Africa Plc (UBA) has announced the launch of a brand new mobile banking application with many user friendly features. The new mobile app which, according to the bank, comes with the biometric More...

By Bar and Bench On Wednesday, May 24th, 2017
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CBN retains interest rate at 14%

Injects another $186.5m into the market The Monetary Policy Committee of the Central Bank of Nigeria (CBN) Tuesday retained the Monetary Policy Rate at 14 per cent. The MPC has not made any major monetary policy More...