(L-R) Samuel Bolarinde, chairman, Vitafoam Nigeria Plc; discussing with Bamidele Makanjuola, MD/CEO at the company's recent annual general meeting in Lagos.

FIRST Bank of Nigeria Plc may pay as much as N1 billion  to Bernard Longe, its former managing director as accumulated income in the last eight years following the Supreme Court judgment on Friday   nullifying his dismissal from office by the board of the bank.

THE newly introduced Cargo Tracking Note (CTN), designed for security of goods and ports facilities in the nation’s seaports, is expected to rake in 6.0 million Euros or N1.2 billion to the Nigerian Ports Authority (NPA) in 2010, its first year of commencement.

AS the consequences of the gale of sweeping reforms in the nation’s financial industry continue to reverberate, indications from the nations leasing industry has shown that the industry maintained its growth in 2009.

THE World Bank has rated the Monitoring and Evaluation Framework for Nigeria’s Commercial Agriculture Development Projects (CADP) as highly satisfactory. BusinessWorld Intelligence can disclose that CADP is the first project in Nigeria where there was provision of counterpart fund for project preparation by the Government.

THE Nigeria National Petroleum Corporation (NNPC) has secured the backing of the military which would now maintain closer surveillance on petroleum pipelines for it to actualize effective distribution of products to its depots across the country.

(L-R) Ms Nonny Eze, acting executive secretary, MTNF, discussing with Julius Okoji, DG, Nigerian University Commission, at the official award ceremony of the MTN Foundation Science and Technology Scholarship Scheme recently in Lagos.

INTERCONTINENTAL Bank Plc has dragged Alhaji Sani Dangote, chairman, Bulk Pack Services Limited, subsidiary of Dangote Group of Companies before Justice Funmilayo Atilade of the Lagos High Court over N7.5billion debt. The bank is claiming exactly the sum of N7,572,393,071.54 from Alhaji Sani Dangote, the purported sole guarantor of the various credit facilities offered to the oil firm of Bulk Pack Services Limited.

WITH the expected sale of Zain Nigeria and other Zain African networks in the next few weeks to Bharti Airtel, India’s largest mobile operator, the Zain brand and subscribers on the network may have to contend with a new brand name as the Nigerian operations may soon change its brand name again.

THE Nigerian National Petroleum Corporation (NNPC) has issued a dress code for its staff banning the use of skimpy attires by its female staff within its office premises BusinessWorld Intelligence can disclose that the move by NNPC will effectively check the rising incidence of its staff appearing in skimpy attire to office.