The Managing Director of Julius Berger Nigeria Plc, Dr Lars Richter, has assured that work is underway to deliver on major roads currently under construction by the company across the country. Richter said this during the company’s 51st Annual General Meeting at the Shehu Musa Yar`dua Centre, Abuja. According to a statement issued by the company on Monday, Richter said the company had performed well despite the impact of the COVID-19 pandemic. He said, “Despite the numerous challenges faced last year, stemming from the COVID-19 pandemic, related lockdowns and subsequent economic crisis, Julius Berger achieved a very good performance in…
Author: Temitope N.
A total of 17 manufacturers of electricity meters are demanding an increase in the cost of the commodity following the rise in inflation and foreign exchange rates, among other economic variables. The meter producers under the aegis of Meter Asset Providers resolved at the end of a meeting that the Nigerian Electricity Regulatory Commission should carry out an upward review of the current price of prepaid meters across the country. In a communique issued after the meeting and made available to our correspondent in Abuja on Monday, the MAPs listed the upward review in meter price as the first resolution…
The National Labour Congress has joined the world in celebrating the second anniversary of the Violence and Harassment Convention, C190. In a statement signed by Acting General Secretary, Ismail Bello, and released on its website on Monday, the labour union said it has reactivated the National Labour Advisory Council of Nigeria. “One of the major achievements is the reactivation of the National Advisory Council of Nigeria which has been dormant for the last seven years. However, due to the sustained struggles and advocacy by the National Labour Council, the body was reconstituted and inaugurated in March 2021, to…
Operators in the telecommunications industry are seeking special consideration to enable them get access to more foreign exchange. Some industry stakeholders who spoke to our correspondent said operators were struggling to get foreign exchange, and this had been responsible for some drop in service quality. The President of Association of Telecommunications Companies of Nigeria, Ikechukwu Nnamani, said in a telephone interview that stakeholders were seeking special intervention from the Central Bank of Nigeria. He said, “Lack of forex to telcos is an open secret. Forex is scarce in the country, and it affects the telco subsectors. “We have been asking…
Air Peace yesterday received the third of its brand new Embraer 195-E5 aircraft at the Nnamdi Azikiwe International Airport, Abuja and disclosed that it would receive all the 13 aircraft it ordered from the Brazilian plane marker before the end of 2022. The airline said that it would create about 17,000 jobs with the total of all its aircraft fleet. Chairman and Chief Executive Officer of Air Peace, Allen Onyema made this known in a speech just before the aircraft touched down at the Abuja airport from the Embraer facility in Sao Jose Dos Campos, Brazil. “We have paid for…
British Airways (BA) diverted its Lagos-bound flights to Abuja airport over ‘non-functional runway lights’ at the Lagos airport. In a message sent to his passengers on Friday, BA said it was due to local ‘infrastructure issues’ in Lagos. “BA075 Lagos – We’re very sorry your flight to Lagos had to divert to Abuja due to local infrastructure issues in Lagos. Your new estimated departure time is on 19th June at 12:00 local time, arriving into Lagos at around 13:30 local time,” a statement from BA to customers, reads “Transport from the hotel will depart for the airport at 08:00 local…
PayPal said Friday it is raising fees for some of its newer products “to better align our pricing with the value that our products and services provide,” according to a blog post by senior vice president Dan Leberman. The changes will affect how much PayPal merchants pay per transaction, and take effect August 2nd. “PayPal has become more than just a button or payment processor to be a full commerce platform capable of driving growth for businesses,” according to the blog post. “Consumers are nearly three times more likely to complete their purchase when PayPal is available at checkout.” In…
The Nigerian Exchange has halted trading in the shares of Guaranty Trust Bank (GTB) Plc, as the bank moves to its transition to a holding company. The transaction is to enable Nigeria’s biggest lender by market value consolidate its businesses into a single group, set up payments and asset management subsidiaries. “The suspension is necessary to prevent trading in the shares of the bank in preparation for the eventual delisting of Guaranty Trust Bank Plc from the Daily Official List of the Nigerian Exchange Limited (NGX) and listing of the Holding Company, Guaranty Trust Holding Company Plc on NGX,” the…
The Debt Management Office (DMO) says it will auction N150 billion federal government bonds to investors on Wednesday, June 23, 2021. The agency made the announcement in a circular published on its website on Friday. The auction comprises three bonds valued at N50 billion each. It includes a 10-year reopening bond to be offered at the rate of 16.2884 percent with maturity date of March 2027, a 15- year reopening bond to be offered at 12.5 percent with maturity date of March 2035, and a 30-year reopening bond to be offered at 12.98 per cent and mature in March 2050.…
The Independent Corrupt Practices and Other Related Offence Commission (ICPC) and the Nigerian Shippers’ Council (NSC), the Nigerian Ports Authority (NPA) and other ports agencies, has inaugurated a Port Standing Task Team (PSTT) in the Eastern Ports of Port Harcourt and Onne as part of the on-going collaboration to ensure the full implementation of the Nigerian Ports Process Manual (NPPM). The PSTT, which is made up of officers of the ICPC, the NSC, the NPA and the Directorate of State Services (DSS), was charged with the primary duty of ensuring that standard procedures were followed in carrying out transactions…