Yemisi Izuora The Skyway Aviation Handling Company limited, SAHCOL has been honoured with the Grassroots Newspapers Publishers Network Award, as “Best Aviation Handling Company of the year 2017.” The award was presented to the Managing Director of SAHCOL, Rizwan Kadri, in his office, by Comrade Ike Abiagom, National Public Relations Officer of the Grassroots Newspaper Publishers Network (GNPN), who represented the National President, Dr. Dan Awana. In a brief speech read on behalf of the National President of the Grassroots Publishers Network, in the presence of the Executive Members of GNPN, Southern Council, and Management staff of SAHCOL, the Publishers…
Author: Orientalnews Staff
Yemisi Izuora AKANU Ibiam International Airport, Enugu, has been certified as ready for emergency response any time such challenges occur. The Federal Airports Authority of Nigeria, FAAN, which conducted a mock exercise to test its emergency response capability, said it was satisfied with the response. Oriental News Nigeria recalls that the state Governor Ifeanyi Ugwuanyi last year led other eminent dignitaries of the state to the ceremony marking the landing of the first international cargo aircraft at Akanu Ibiam International Airport, Enugu, courtesy of the Ethiopian Airlines. The exercise which created panic in some passengers, who were not aware that…
Yemisi Izuora Rating agency, FITCH, has assigned the final rating of ‘B+’ to Nigeria’s Debt notes, consisting of USD1.5 billion 6.5 percent senior unsecured notes due November 28, 2027 and USD1.5 billion 7.625 percent senior unsecured notes due November 28, 2047. According to the agency, the final rating replaces the expected rating of ‘B+(EXP)’ that it assigned on the November 15, 2017. On August 31, 2017, the agency affirmed the country’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B+’ with a Negative Outlook. The Long-Term Local-Currency IDR was ‘B+’, also with a Negative Outlook. The agency said the rating is sensitive to…
Yemisi Izuora An indigenous meter manufacturing company, Mojec International Limited, has signed a memorandum of Understanding(MoU) with Kaduna Electric for the supply of Distribution Transformer (DT) Meters. Under the agreement, Mojec International Limited is expected to supply Distribution transformermeters to Kaduna Electric. The managing director of the company, Ms. Chantelle Abdul stated this during the signing ceremony held in Kaduna . She said the intervention by the company became necessary in view of the accountability challenge confronting the energy sector. She described the agreement between it and Kaduna as an epoch that would signal the beginning of new experience for…
By Yemisi Izuora With Agency Report As global oil price impacts on exploration and production costs of major oil companies, Exxon Mobil Corporation is stabilizing its operations through a planned business restructuring that will see more activities and attention focused on refining. The firms Chief Executive Darren Woods confirms reorganizing the company’s refining and chemical operations as part of a push to boost profits amid volatile oil and natural gas prices. The changes at the world’s largest publicly traded oil producer are the most sweeping to date by Woods, who became chief executive in January after former chief Rex Tillerson resigned…
By Yemisi Izuora The Nigerian Deposit Insurance Corporation(NDIC) has warned bank director of the dire consequences of not servicing their loans. Going forward the Corporation hinted that affected directors may lose their jobs as it revealed that bulk of the non-performing loan by commercial banks are insiders loan given to directors of the institutions. NDIC stated that going by a new Code of Corporate Governance approved by the Central Bank of Nigeria (CBN), such directors would go. Mr A.A Adeleke, Director, Bank Examination Department of the NDIC, who made this known while speaking on the topic, ‘Curtailing the Growth of Non-performing…
Yemisi Izuora with Agency Report The Global oil industry is looking fragile as Russia appears to be sending mixed signals about its support for extending a deal among oil producers on cutting output less than a week before OPEC meets in Vienna to discuss policy. The Organization of the Petroleum Exporting Countries, OPEC, Russia and several other major producers cut their combined output by about 1.8 million barrels per day since January to reduce bloated inventories and boost oil prices. The producers would reconvene for an OPEC meeting in Vienna on November 30 to decide whether to extend this deal beyond its March expiry. Saudi…
Yemisi Izuora Premium Pension Limited says Its customer base is now well spread in over one thousand organizations, holding in its portfolio over 700,000 Retirement Savings Accounts (RSAs). The Pension fund Administrators (PFAs),made the revelation when it held Its Pension Desk Officers Forum to touch base and collectively evaluate the workings of the Contributory Pension Scheme (CPS) essentially to enhance operational effectiveness. The forum according to the firm is a routine industry requirement that provides opportunity for stakeholders to keep abreast of current trends in the industry. “This forum provides an opportunity to identify challenges faced by clients and collectively proffer clarifications and solutions” said Mr. Kabir Ahmed Tijjani, Executive Director…
Yemisi Izuora The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru, has proffered illuminating guidelines for Nigeria to achieve the much desired diversification of its economic base away from the vulnerability and fragility of oil and gas revenue. Speaking at the 40th Pre-Convocation Lecture of the Ahmadu Bello University, Baru, said Nigeria must seek to diversify the portfolio of economic activities, reduce dependency on mono sector and take advantage of new opportunities advanced by technology. Amid intermittent bouts of standing ovation from an appreciative audience, the NNPC GMD in the lecture entitled: Oil & Gas Industry and…
Yemisi Izuora The Central Bank of Nigeria (CBN), has injected the sum of $287.89 into the Retail Secondary Market Intervention Sales (SMIS) in continuation of its resolve to guarantee liquidity in the foreign exchange market. Oriental News Nigeria reports that the figure was in favour of the agricultural, airlines, petroleum products and raw materials and machinery sectors. The Bank’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor confirmed the figures, noting that the releases were targeted at sustaining liquidity in the market as well as boosting production and trade. He reiterated that the Bank remained committed to ensuring liquidity in…