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Author: Pride Team
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Volkswagen AG investigators are struggling to make headway through data secured from more than 1 500 laptops and other devices and probably won’t have a complete report on the carmaker’s emissions cheating by the end of the month, according to people familiar with the status of the investigation. The probe has been slowed by the use of dozens of code words, including “acoustic software”, for the illicit technology Volkswagen used to turn off pollution controls when cars were on the road, said the people, who asked not to be identified because the investigation is confidential. The obfuscation along with partly…
The Federal Operations Unit Zone ‘A’ Ikeja of Nigeria Customs Service (NCS), has impounded contraband goods with a Duty Paid Value (DPV) of N572.1 million Controller of the unit, Comptroller Umar Dahiru has revealed. According to Dahiru, The seized items include: frozen poultry products, foreign parboiled rice, vehicles, vegetable oil, trucks of unprocessed teak woods and other general merchandise,” The controller gave the breakdown as: 4,911 bags of rice; 15,048 cartons of imported frozen products; 1,884 kegs of vegetable oil; 17 trucks of unprocessed teak woods; and an unspecified number of general merchandise. He said that the latest onslaught came…
Ikeja Electric said it has filed a suit including a motion for Interlocutory Injunction restraining the National Union of Electricity Employees (NUEE), Senior Staff Association of Electricity and Allied Companies (SSAEAC), Nigeria Labour Congress (NLC), their agents, officers, privies, representatives or otherwise, whether acting of their own accords or in concert with other bodies, persons or unions, from disrupting or shutting down the operations of the Company or barricading the entry and exit points of her Corporate Headquarters located at Obafemi Awolowo Way, Alausa, Ikeja, or any other premises or location where the Company carries out commercial and (or) technical…
Shortage of cash in the banking system last week led to an increase in the overnight tenor of the Nigerian Interbank Offered Rates (NIBOR). The central bank also sold about N63.98 billion of 7-month treasury bills at nine per cent to further curtail excess liquidity in the banking system. As a result of this, the open buy back (OBB) and overnight rates on Friday closed the week at four per cent and 4.5 per cent respectively, up by 0.9 per cent each week-on-week. Activities in the treasury bills market was mixed last week as average treasury bills rate closed at…
The future of crude oil received a severe blow as attempts to save oil prices from further plunging fell apart at a meeting held in Doha, capital of Qatar. Tensions between rivals Saudi Arabia and Iran ruined prospects of the first binding oil output deal in 15 years between members of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC nations. 18 nations made up of OPEC and non-OPEC oil producers, including Nigeria, Angola, Algeria, Libya, Saudi Arabia, Iran, Iraq, Kuwait, Qatar, Venezuela, United Arab Emirates, Indonesia, Mexico, Bahrain, Oman and Russia, had gathered in Doha with the intention of…
The Kogi State Governor, Alhaji Yahaya Bello, has said it is his constitutional right to appoint his personal aides without any recourse to any group of people, provided the individuals meet up the requirement as stipulated by law of the land. The Governor stated this at the weekend through his Special Adviser on Media and Strategy, Mallam Abdulkarim Abdulmalik. Bello was reacting to alleged letter purportedly written by the State Executive of All Progressive Congress, APC, to the national leadership of the party. The Governor said he was yet to be informed by the National Secretariat of the APC about…
Traders at the New Auto Spare parts Dealers Market Nkpor, near Onitsha, Anambra State, yesterday, embarked upon peaceful protest over an Idemili High Court order restraining the newly elected leadership of the market from piloting the affairs of the market pending the determination of the substantive suit. The protest which was a spontaneous one was carried out shortly after the end of their weekly prayer session in the market. Some of the protesting traders carried placards that read, “Gov. Willie Obiano please come to our rescue, few people want to impose leadership on the traders, allow the elected leadership of…
Dr. Dakuku Peterside, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) has said that tackling rising cases of piracy in the Gulf of Guinea requires multi stakeholder approach. Speaking to journalists at the Nnamdi Azikiwe International Airport Abuja on his way to Singapore, Dr. Peterside said that a legal framework that prescribes stiffer sanctions, a more vigorous and vigilant military led patrol and better intelligence gathering network will help but cannot be all the solution to tackling sea piracy. The NIMASA DG who noted that the activities of pirates stifle shipping and by extension commerce which…