Anambra Boat Mishap: Death Toll Increases to 76

President Muhammadu Buhari has revealed that the death toll from the boat accident in Anambra the South-Eastern part of the nation has increased to 76. It was reported that the mishap happened on the 7th of October 2022, amid heavy flooding in the Ogbaru area of the state, where officials stated that 10 persons had lost their lives, while 60 people were yet to be found as of 8th October. Buhari stated that Authorities have been on a rescue mission, to rescue or recover any missing passengers, noting that relevant agencies have been directed to ensure safety protocols to prevent the future reoccurrence of such ordeal.

CBN Introduces Cash Collection Centres For Withdrawals, Deposits

The Central Bank of Nigeria (CBN) has announced the launch of cash collection centers called Bank Neutral Cash Hubs (BNCH) to be set up by Deposit Money Banks (DMBs) or registered Cash Processing Companies (CPCs). CBN made this known in a guideline for the registration and operation of BNCHs in Nigeria. According to the CBN, BNCHs would provide an efficient platform for customers to deposit and receive cash regardless of the bank the customers’ account is domiciled, adding that BNCHs would be located in areas with a high frequency of cash transactions and business activities.

Top 50 Brands Nigeria: Dangote, MTN Nigeria Tops 2022 List

Dangote Industries and MTN Nigeria have been named among 2022 Top 50 Brands Nigeria following the results of the 2022 corporate brand evaluation conducted by a brand and marketing research firm known as Top 50 Brands Nigeria. The organizers also stated that Dangote Industries emerged as the Most Valuable Brand in Nigeria for the fifth year, with an aggregate score of 83.7 Brand Strength Measurement (BSM) index score.

Oil Vessel With Over 20kBpD Capacity Explodes In Niger Delta

A Floating oil Production, Storage and Offloading (FPSO) vessel owned by Shebah Exploration and Production Company Limited (SEPCOL) with a capacity to process up to 22,000 BPD, and store 2 million barrels of oil, has exploded and sunk at the Ukpokiti Terminal, around Excravos, Warri South-west, Delta State. SEPCOL, owned by a combination of Nigerian and overseas corporate entities, which include: Abbeycourt Trading Company Limited (ATCO), Abbeycourt Petroleum Company Limited and Allenne Limited confirmed that the vessel TRINITY SPIRIT has exploded and has sunk below waters in the Niger Delta area of the country.

President Buhari Swears In New RMAFC Chairman

President Muhammadu Buhari swore in Mohammed Bello Shehu as the new Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC). Bello was administered the oath of office on Wednesday at the State House, Abuja just before the commencement of the weekly Federal Executive Council (FEC) meeting which was presided over by President Muhammadu Buhari.

Arik Sacks Pilots For Embarking On Strike

Arik Air has sacked an undisclosed number of its pilots for gross acts of indiscipline, describing the strike as an act of betrayal pilot. In a statement, the airline said the affected pilots were sacked for embarking on strike “without recourse to lay down procedures,” adding that the strike was an act of betrayal, especially during the Yuletide season when the airline is at its peak of travel.

Alleged N22Bn Fraud: MTN Mobile Banking Sues 18 Banks

The fintech subsidiary of MTN Nigeria, Momo Payment Service Bank Limited (MomoPSB) has filed a suit in the Federal High Court seeking to compel 18 commercial banks to refund about N22.3billion that was mistakenly transferred in 700,000 transactions into accounts belonging to about 8,000 bank customers on May 24, 2022.

Just In: Titan Trust Bank Acquires Union Bank

Titan Trust bank Limited has on Thursday announced that it is acquiring 89.39 percent of Union Bank, one of Nigeria's oldest banks. The acquisition follows an agreement by Union Global Partners Limited, Atlas Mara Limited, and other major stakeholders to divest 88.39 percent of shareholding in Union Bank to Titan Trust Bank. The Union Global Partners Ltd (UGPL), in a notification to the Board of Directors of Union Bank of Nigeria Plc announced that

Petrol, Electricity Crisis: President Buhari Apologizes To Nigerians

President Muhammadu Buhari has apologized to Nigerians over the total blackout and the protracted long queue in filing stations which has caused the citizens untold hardship. The Senior Special Assistant to Mr. President on Media and Publicity, Mallam Garba Shehu, in a statement last night conveyed Mr. President’s sincere regrets for the inconvenience caused to citizens of the country. “The administration knows the fuel shortage has placed a strain on Nigerian citizens and businesses, but relief is on the way.

NLC Rejects Intended Petrol Price Increase

The Nigeria Labour Congress (NLC) has expressed dissatisfaction with regard to the alleged comment by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari that the price of petrol could jump as high as N320 and N340 from February 2022. The NLC has urged the Federal Government of Nigeria to consider options to help the nation embrace developmental governance and accountable leadership while rejecting the planned petroleum price increase. In a statement yesterday by NLC President Ayuba Wabba, the congress said the proposal by Kyari which he said was consequent on the plans by the federal government to remove subsidy on petrol was rejected. Wabba said the union would maintain its rejection of deregulation so long as it was based on an import-driven model. Mr. Wabba described as “comical” the bait by the government to pay 40 million Nigerians N5,000 as palliative, to cushion the effect of astronomical increase in the price of petrol. “The NNPC GMD said that the price increase would be consequent on the plans by the Federal Government to remove subsidy on Premium Motor Spirit, also commonly referred to as petrol or fuel. “The grand optimism of the NNPC GMD was predicated on the claims that the removal of fuel subsidy is now backed by an act of parliament probably the Petroleum Industry Act which was recently signed into law,” Wabba said.