Guarantee Trust Bank (GTB) has been named the Best Bank in Nigeria and the Best Bank for CSR in Africa by EMEA Finace Magazine. The bank's Managing Director and Chief Executive Officer (CEO), Mr. Segun Agbaje was also named the CEO of the year. The Publisher and Chief Executive of EMEA Finance Magazine speaking while presenting the award said;

About $32bn was lost to corruption during the six-year administration of ex-President Goodluck Jonathan, the United Kingdom’s Department for International Development said on Monday. The agency said the huge amount represented 16 percent of the previous government’s resources that could have been channelled to development.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has said it will embark on indefinite strike beginning from Monday. This development expected to deepen the current fuel crisis in some parts of the country follows a stalemate in the peace meeting the Minister of Petroleum Resources, Dr Emmanuel Kachikwu, brokered between the union and Neconde Energy Limited. PENGASSAN and Neconde have been embroiled in a crisis over an allegation of anti-worker practices.

The Federal Inland Revenue Service (FIRS), said it collected N17 billion from tax evaders through the Voluntary Assets and Income Declaration Scheme (VAIDS) between June and December this year. The Chairman of the Service, Mr Babatunde Fowler disclosed this in Abuja at a public enlightenment workshop on VAIDS organised by the Federal Ministry of Finance and FIRS.

Standards Organisation of Nigeria (SON) has unveiled additional strategy to reduce the incidence of substandard products in Nigeria. The Director General, Mr. Osita Aboloma said that the planned introduction of Product Authentication Mark (PAM) for imported and locally manufactured products would enhance quality products and tackle cloning and production of counterfeiting goods.

The All-Share Index of the Nigerian Stock Exchange (NSE) crossed 38,000 mark amidst gains posted by some highly capitalised stocks in spite of the preparation for Yuletide. The reports showed that the index inched 519.84 points or 1.37 per cent to close at 38, 494.42 compared with 37, 974.58 achieved.

Members of National Union of Air Transport Employees on Tuesday grounded the operations of Kenya Airways at the Murtala Muhammed International Airport (MMIA), Lagos following allegations of poor treatment of Nigerians. According to Dailytruist, the union had previously demanded improved wages for its members, a request that the Airline failed to implement. The situation worsened following breakdown of negotiation between the union and officials of the Airlines.

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has called on the government to take urgent steps toward addressing the growing level of poverty, hunger and unemployment in the country or brace up for social upheaval. The group gave the warning on Tuesday in a Communiqué issued in Port Harcourt at the end of its National Executive Council meeting.

Nigerians’ hope of having regular power supply may not take long as the Federal Government plans to generate 3,000 Megawatts (MW) more of electricity through mini-grids to energize under-served off-grid communities across Nigeria by the year 2020. The Managing Director, Rural Electrification Agency (REA), Mrs. Damilola Ogunbiyi, who stated this, said the agency was securing $350 million from the World Bank for rural electrification. Of the amount, $150million will go into funding the mini-grid projects.

The market indices of the Nigerian Stock Exchange (NSE) opened for the first trading day in December after a public holiday with marginal growth of 0.08 per cent. The reports showed that the market capitalisation on Monday rose by N11 billion or 0.08 per cent to close at N13.225 trillion as against N13.214 trillion achieved.