Sidebar

Exclusive Reports

02
Tue, Mar

In the News

Top Stories

FG To Begin Oil Production In Northeast – Sylva

Featured

The Minister of State for Petroleum Resources, Timipre Sylva has on Monday disclosed that the Federal Government plans to commence oil production in the Northeast. “I have said it a few times that we have found oil in the northeast and we have started drilling activities in the Lake Chad Basin,” he said. “I don’t know how the discovery of oil in the area will impact all the issues there but on our side, we believe that in a very short time, we will start production.” Speaking in an interview on Channels Television, the minister expressed dismay over the negative impact the COVID-19 pandemic has placed on the world, including the oil and gas industry.

CBN Orders Banks To Close Cryptocurrency Accounts

Featured

The Central Bank has ordered banks and other financial institutions to identify persons and entities operating cryptocurrency exchanges and close all such accounts. It stated that dealing with cryptocurrencies and facilitating payments through them is illegal in the country. This was disclosed in a circular titled ‘Letter to all Deposit Money Banks, non-bank financial institutions and other financial institutions’ Friday.

Oil Price Jump Above $58.17pb As OPEC And Non-OPEC Members Agrees To Production Cut

Featured

Oil price in the world market had yesterday appreciated above $58.17 having all Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members accepted to cut their output. Accordingly, the price of Brent crude rose to $58.17 per barrel, making up to $2 above the previous day's price.

Fuel Scarcity: DPR Warn Marketers As Queue Resurfaces

Top Stories

Department of Petroleum Resources (DPR) has today warned the independent marketers who are of the habit of hoarding fuel to desist or they shall not hesitate to sanction any marketer that is found wanting. The DPR Director, Mr Sarki Auwalu gave this warning in a statement today in Lagos. He said the warning has become necessary considering the fact that queues are resurfacing at retail outlets in some states of the federation.

Nigeria’s Ngozi Okonjo-Iweala Takes Over As DG WTO

Top Stories

Nigeria’s Dr. Ngozi Okonjo-Iweala takes over the affairs of the World Trade Organization (WTO) as Director-General on Monday, March 1, seven months after the sudden departure of Brazilian Roberto Azevedo. She is hitting the ground running, with her first day on the job in Geneva which coincides with the annual meeting of WTO’s General Council. Her appointment has elicited hope that she will affect transformation even as she intends to address some key issues in the organization including the pandemic fuelled global economic crisis. During a press conference following her appointment, she revealed that she is taking the reins of WTO at a time of great uncertainty. She said it cannot be business as usual at the WTO.

Dangote Refinery: CBN Strategise To Strengthen Naira As Production Set To Commence

Top Stories

The Central Bank of Nigeria (CBN) has unveiled a plan to strengthen the naira as the Dangote refinery is set to commence production soon. This was stated by the CBN governor, Godwin Emifele, during his visit to the multi-billion naira refinery located at Ibeju Lekki, Lagos state over the weekend, saying “We have taken the decision to sell the crude to the Refinery in Naira because we want to impact the economy.

COVID-19: Fresh Hope As Nigeria Records Yet Another Low Daily Case

Trending

The Nigeria Centre for Disease Control (NCDC) has yesterday record another daily record of 574 cases of the dreaded coronavirus, the lowest for the second time since the beginning of the second wave, first was on Sunday, the previous day.

Former VP Atiku Abubakar Reacts To Ban On Cryto, Calls For A Rethink

Trending

Former Vice President Atiku Abubakar has reacted to the recent Ban on cryptocurrency purchase and trading by the Central Bank of Nigeria, CBN which placed restrictions on chryptocurrency transactions in the country. Since the emergence of the CBN decision, which entails that any person or entity who is receiving cryptocurrency as payment in his bank account and withdraws it as cash cannot do that again, a lot of Nigerians have reacted to it on several social media platforms. Atiku while reacting to the development on his Twitter page on February 6, said “We Need To Open Up Our Economy, Not Close It.” “The number one challenge facing Nigeria is youth unemployment. In fact, it is not a challenge, it is an emergency. It affects our economy and is exacerbating insecurity in the nation.

COVID-19: Nigeria Fails To Secure Limited Pfizer-BioNTech Vaccines

Trending

The World Health Organisation (WHO) has declined to shortlist Nigeria for the limited Pfizer-BioNTech vaccines being expected to be delivered to African countries this month. This is because of the country’s failure to meet the standard requirement of being able to store the vaccines at the required -70 degrees Celsius. According to WHO only four countries out of 13 African countries (Nigeria inclusive) that expressed interest and submitted proposals will be receiving the limited 320,000 Pfizer-BioNTech vaccines. The four countries are – Cape Verde, Rwanda, South Africa, and Tunisia. The United Nations Agency, while urging the other countries not shortlisted for the vaccines to fine-tune their planning for covid-19 immunization campaigns, stressed that it cannot afford to waste a single dose of these vaccines.

Trending Video