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Alleged mistreatment: Foreign firm writes Nigerian Govt, asks SEC to intervene in dispute with MRS Oil Plc

Above were officials of PETROCI allegedly locked out by security operatives at the venue of MRS AGM in Lagos last Tuesday: From left: Dr. Ibrahim Diaby, DG, PETROCI, Yannick Bery, Head, Legal and Inza Dosso, COO/Head of Administration. By Editor, Energy MattersA foreign oil company, Societe Nationale Petroliere de Cote D’Ivoire (PETROCI) has written a complaint letter to the authorities in Nigerian Government and its relevant regulatory agency, Security and Exchange Commission (SEC) to look into the dispute between…

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Trademark: NBC brought before Federal High Court, Lagos over alleged passing off infringement

The disputed products. By Editor, (Business & Brands Marketing). Nigeria Bottling Company (NBC) has been dragged before a Federal High Court, Lagos to explain why it is allegedly infringing with its Predator energy drink similar with an insignia of an already existing product, Fearless, made by Rite Foods Limited, which claims to be the market leader in energy drink production. In a publication in the ThisDay and Guardian newspapers editions of Friday, 19th of March, 2021, court forms initiating contempt…

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N109.9m fraud rocks National Orthopaedic Hospital, Enugu

Minister of Health, Prof. Isaac Adewole. A total of N109.9 million deposited by staffers of the- National Orthopaedic Hospital, Enugu in a business venture by its cooperative, ‘National Orthopaedic Hospital, Enugu Staff Co-operative Thrift and Loans Society limited (NOHESCT&LS Ltd)’, has been allegedly embezzled or misappropriated by officers of the cooperative society.  Investigations revealed that since the election of the current executive in July 9th 2015, under a special general meeting (SGM) led by Engr. Philip Ugwuonah and Uchenna Odo,…

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Ex-CBN dep gov asks FG to scrap NNPC

  Prof. Moghalu, ex-CBN dep. gov., presidential hopeful. Prof. Kingsley Moghalu, a former Deputy Governor of the CBN, has called for the scrapping of the Nigerian National Petroleum Corporation (NNPC). Moghalu stated this while delivering a lecture titled “Overcoming Poverty: The Secret of the Wealth of Nations” on Wednesday in Lagos at the 3rd Annual Lecture of the Centre for Financial Journalism (CFJ). According to him, the scrapping of the NNPC will bring sanity to the petroleum sector. The…

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Ekiti Landlords Protest Against BEDC Over hoarding of Prepaid meters, ‘Fraudulent’ Electricity Tariffs

The illusive Prepaid meter Ekiti Landlords and landladies resident in Ado Ekiti, Ekiti State capital on Wednesday staged a peaceful protest against Benin Electricity Distribution Company(BEDC) over alleged hoarding of prepaid meters and ‘over-billing’. The protesters, who operated under the auspices of Ado Ekiti Landlords and Landladies Electricity Consumers Association of Nigeria (ALLECA), alleged the company of demanding for a sum of N40,000 from landlords before proving prepaid meters, describing the action as tantamount to fraud and extortion. The…

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A difficult year for African investment, but a chance for different opportunities

         Mizner of Hogan Lovells It was a difficult market for deal-making in Africa during 2017, but it is not all doom and gloom, explained lawyers from Hogan Lovells at a recent event. Driven by political uncertainty, currency volatility and the continued softness of the commodities markets, deal volumes are down significantly for Africa in the first half of 2017, compared to the equivalent period in 2016, reaching the lowest levels since 2009, according to lawyers from international law…

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