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ABUJA — The registrar-general of the Corporate Affairs Commission (CAC), Garba Abubakar, has announced that the agency is set to block suspected fraudulent applications registering new companies similar to existing ones. Rasheed Mahe, head of media at CAC, disclosed this in a statement issued on Sunday. The statement stated that Abubakar said the CAC recorded high applications with names similar to existing ones and indicated that the Commission had discontinued the issuance of certified true...

AWKA — The member representing Ogbaru 11 constituency in Anambra State House of Assembly, Hon. Somto Udeze has empowered no fewer than one hundred and sixty constituents with business capital and work tools, to assist businessmen and women. Of the one hundred and sixty beneficiaries, no less than one hundred and forty are petty businesswomen in Ogbaru. About one hundred and thirty-seven of them were given the sum of twenty thousand Naira, to support their...

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AWKA — Anambra State House of Assembly has passed the anti-grazing bill into law after the bill was read for the third time and overwhelmingly supported by members during the plenary session today. A bill for a law to prohibit and abolish open and nomadic grazing was submitted to the House a few weeks ago and has been painstakingly considered by the House before it was passed at about 3.55 pm, Nigerian time on Tuesday,...

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ABUJA — Oil production in Nigeria rose to an average of 1.25 million barrels per day in September from 1.24 million the previous month according to data from the Department of Petroleum Resources (DPR). According to the 2021 crude oil and condensate production report, the increase represented 0.8 percent from the August production figure. However, it is still among the lowest since January 2021. Recently, vice-president Yemi Osinbajo had admitted the country’s low oil production...

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LAGOS — The Adamawa State Government has formally unveiled its Agribusiness support programme at an Investors dinner held in Lagos, Nigeria’s commercial hub. According to a statement by Governor Fintiri’s Press Secretary Mr. Humwashi Wonosikou, the homegrown Agribusiness Programme is the first of its kind in the capital market in Nigeria. Fintiri said his administration is committed to navigating the market conscious of the burden of responsibility not only to the investing community but to...

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Mobile network operator, MTN  has said its service is now fully restored, following the network disruption experienced on Saturday. In a text message to customers on Sunday afternoon, MTN said its service is now fully restored. “Please accept our sincerest apologies for the difficulties you experienced on our network yesterday. Service has now been fully restored. We truly appreciate your patience and understanding,” the message reads. The telecommunication service had apologised to its Nigerian customers...

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ABUJA — The newly incorporated Nigerian National Petroleum Company (NNPC) Limited has a capitalisation of N200 billion according to Garba Abubakar, registrar/chief executive officer of the Corporate Affairs Commission (CAC). This was documented in a statement issued by Femi Adesina, the presidential spokesperson. According to the statement, the registrar disclosed this on Friday in Abuja after President Muhammadu Buhari received the certificate of incorporation of the NNPC as a limited liability company. Capitalisation is the...

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KADUNA — Kaduna State Council of Nigeria Labour Congress (NLC) and Textile Workers Union have protested against the alleged plans by the northern governors to sell off the moribund Kaduna Textile Limited. Kaduna Textile Limited which was one of the legacies of the late Premier of Northern Nigeria, Sardauna of Sokoto, Sir Ahmadu Bello was established in 1957 and commenced operations in 1959. The workers, while marking the International Day of Decent Work on Thursday,...

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ABUJA — The cost of petrol subsidy depleted revenue that should have been available to fund the 2021 budget according to President Muhammad Buhari. The president who spoke on Thursday while presenting the 2022 appropriation bill at the national assembly, said an increase in the pump price of petrol was due to opposition from the labour unions and other stakeholders. He noted that the subsidy significantly destroyed revenues that should have been available to fund...

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ABUJA — Senate President Ahmad Lawan has said with the confirmation of the board members of the newly created Nigerian Upstream Regulatory Commission, the Department of Petroleum Resources (DPR) has been scrapped. After the confirmation of the board members on Wednesday, Lawan said with the Petroleum Industry Act (PIA) and the confirmation of the nominees sent to the Senate by President Muhammadu Buhari, said the new commission would take over the functions of the defunct...

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