Yemisi Izuora Stanbic IBTC Pension Managers Limited has paid over N279 billion to retirees since its inception in 2006. Between January and June this year, over 5,000 new retirees also received their benefits from the PFA, increasing the number of individual retirement savings account (RSA) holders nationwide with it to over 1,500,000. A total of N16.6 billion was paid to retirees from January to June this year. These figures was given as the company examined its 2017 half year performance with a view to retooling for higher performance in the years ahead. This was also as the PFA continued its national awareness and engagement campaigns across the country. The 2017 employers’ forum organized by the company held in six key cities namely…
Author: Orientalnews Staff
Yemisi Izuora DANA Air ahead of its 9thanniversary today 10thNovember 2017 has stated that despite all the aviation industry is going through it still strives to be recognized and respected as Nigeria’s most reliable and customer-friendly airline and will continue to In a statement released to the media and signed by the Chief Operating Officer/Accountable Manager, Obi Mbanuzuo he stated that since commencing flight operations on November 10, 2008, the airline is proud to have come this far, creating an exemplary model and setting the standards for a sustainable and efficient airline operation in Nigeria. His words, ”We are also proud…
Yemisi Izuora The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Adebayo Ibrahim, has disclosed plans by the Senate, to empower the Asset Management Corporation of Nigeria (AMCON) realize its mandate. The Senator who spoke at the opening of the Committee’s retreat at the NAF Conference Centre, Abuja stated that the Upper Chamber, as part of its oversight function, has decided that AMCON requires more support from the legislature if indeed Nigerians expect the Corporation to succeed in line with its sunset clause. Reading from the keynote address he delivered at the commencement of the retreat…
Yemisi Izuora The Central Bank of Nigeria (CBN) says it’s sectoral interventions had impacted the Nigerian economy and created jobs worth seven million as at August this 2017. The bank listed its Micro Small and Medium Scale Enterprises (MSMSE) development fund, its credit refinancing scheme, Anchor Borrowers’ Programme, among others as initiatives that had facilitated job creation. Speaking at the CBN special day at the ongoing Lagos International Trade Fair, CBN governor Godwin Emefiele noted that through its Agriculture Guarantee Credit Scheme, it had created over five million jobs; while the Commercial Agriculture Credit Scheme had created over one million…
Yemisi Izuora Oil giant Total has signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron LNG project in the US, long term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe. Additional payments of up to $ 550 million could be payable by Total in case of an improvement in the oil markets in the coming years. “The acquisition of Engie’s upstream…
Yemisi Izuora Erin Energy Corporation has released its financial and operational results for the quarter ended September 30, 2017. In the third quarter results showed the company’s crude sales volumes of more than 600,000 net barrels of oil and a $33.6 million in revenue with average daily production hitting 5,000 net barrels of oil. “During the third quarter, we produced more than 400,000 net barrels of oil and generated revenues of more than $33 million,” said Femi Ayoade, Chief Executive Officer. We completed the drilling phase of Oyo-9, have secured a funding commitment for Miocene exploration in OML 120 and…
Yemisi Izuora Nigeria-focused oil and gas production and development company Eland Oil and Gas´s joint-venture company has signed a new rig contract for the company’s upcoming continuous drilling campaign. Eland said Elcrest Exploration and Production Nigeria secured the rig contract with OES Energy Services Limited, for the OES Teamwork Rig for the company’s upcoming continuous drilling campaign, given the “extremely successful” operation on the OP7 well. According to the company, the joint venture had now committed to drilling the Opuama-9 and Opuama-10 infill wells on Opuama field, with both wells expected to contribute initial production rates of 4,000 to 6,000…
Yemisi Izuora Situation in the Wuse Berger area of Abuja is now calm after reported clash between taxi drivers and policemen over the mobbing of officials of the Task Force on FCTA on Wednesday. The Minister for the Federal Capital Territory Mohammed Bello, denied any killings in the violence. Bello, in a statement by his Chief Press Secretary, Cosmas Uzodinma, urged Nigerians to disregard any rumour on death from task force operations. The Minister said the situation is now under control and appealed to residents to go about their normal activities without any fear of molestation. The Secretary for Transportation Comrade…
Yemisi Izuora The Nigeria Deposit Insurance Corporation (NDIC) has warned depositors and the general public about the emerging trend of investing in digital currencies popularly known as Bitcoins, as well as wander banks, saying it is hazardous. According to the Corporation, the digital currencies are not licensed by the Central Bank of Nigeria (CBN) and are therefore not insured by the NDIC. The Corporation advised depositors to patronise only financial institutions that are licensed by the CBN and which display the NDIC Sticker with the words: “insured by NDIC’ in their banking halls or entrances, adding that protection of the…
Yemisi Izuora Oil markets were relatively strong a stable state that is largely supported by ongoing supply cuts led by OPEC and Russia as well as by strong demand, although the prospect of rising U.S. shale output capped prices around recent gains. Brent crude futures were at $63.84 per barrel down 9 cents from their last close, but still near a more than two-year high of $64.65 a barrel reached earlier this week. U.S. West Texas Intermediate (WTI) crude was at $57.05 per barrel, down 12 cents but also still close to this week’s more than two-year peak of…