The House of Representatives' Committee on Emergency and Disaster Preparedness on Thursday summoned the Vice President, Prof. Yemi Osinbajo, the Head of Service, Mrs. Winifred Oyo-Ita and the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu over the recent suspension of six Directors of National Emergency Management Agency (NEMA).

Oil held near its highest in nearly three years on Wednesday, supported by political tension in the Middle East, although evidence of rising U.S. crude supply acted as a counterbalance. Brent crude has gained 5.7 percent this week, rising to $71.34 a barrel on Tuesday, the highest since late 2014, although the price has since fallen back and was $70.98 a barrel by 0907 GMT LCOc1, down 6 cents.

Vice President, Prof. Yemi Osinbajo on Thursday said the Muhammadu Buhari administration was currently paying N5, 000 to over 300, 000 poorest people in Nigeria as part of its social intervention programme. The Vice President who stated this in Umuahi at the launch of Abia state Tele-Health Support Centre said the total sum spent on the programme monthly was about N1.5bn.

The Nigerian Communication Commission (NCC) and the Central Bank of Nigeria (CBN) has signed a Memorandum of Understanding (MoU) on payment system. The Executive Vice Chairman of NCC, Prof. Umar Danbatta stated this at the signing of the MOU in Abuja, Nigeria. Prof Danbatta said the MoU would improve mobile money service penetration and financial inclusion across the country.

Officials of N-Power, a Federal Government empowerment scheme, have explained why stipends of some beneficiaries were deducted. According to a statement posted on its Twitter verified handle on Wednesday, the scheme said "Beneficiaries who selected the Tecno and Speedstar devices incurred additional charges.

Sources are reporting that the Securities and Exchange Commission of Nigeria has formally lifted the 6-month old technical suspension on Oando PLC, a leading Nigerian energy company listed on the Nigeria and Johannesburg Stock Exchanges. This was contained in a letter from the SEC Nigeria to the management of Oando Plc.

Nigeria’s inflation rate measured by the Consumer Price Index (CPI) dropped from 14.33 in February to 13.34 per cent in March year-on-year, the National Bureau of Statistics (NBS) disclosed in its CPI report for March. The bureau stated in the report released on Thursday in Abuja that the figure showed 14 consecutive reductions in inflation rate since January 2017.

Oil prices rose more than two per cent supported by a rebound in the stock market as trade war between the United States and China eased. Brent crude futures rose to settle at 68.65 dollars a barrel. Brent prices gained 2.3 per cent on the day, its largest daily percentage gain since March 21.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Nigerian National Petroleum Corporation (NNPC) to expedite the rehabilitation of Ore and Ilorin depots to ease petroleum distribution within the axis. Alhaji Dedo Ahmed, the Chairman, Western Zone of IPMAN, made the appeal in an interview with the Newsmen in Lagos on Wednesday.

The Central Bank of Nigeria (CBN) has finalised arrangement with Nigeria Export-Import Bank (NEXIM) to assist local manufacturers who are interested in non-oil exports, according to its governor, Mr Godwin Emefiele. Emefiele announced this at a seminar for Finance Correspondents and Business Editors, held in Uyo, Akwa Ibom on Monday.