The Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) has blamed the current scarcity of Premium Motor Spirit (PMS) on activities of cabal in the oil sector contrary to widespread claim that tanker drivers were not strike. NUPENG made this known on Wednesday in a statement released to newsmen.

The UK Treasury has said Anti-money laundering regulations should be updated to include Bitcoin and other virtual currencies.

The Metropolitan Police says criminals are using crypto-currency cash machines to launder money in London.

The government's aim is part of a broader update to the EU rules which are under negotiation.

China’s Sinopec Group has hired BNP Paribas to sell its oil business in Nigeria and Gabon, according to reliable sources.

Sinopec and other oil groups including China National Petroleum Corporation and CNOOC made large acquisitions between 2009 and 2013 with the help of low-cost loans from Chinese state-owned banks.

The hunt for overseas assets was intended to bulk up their energy reserves and meet future demand from China, the world’s second-largest economy.

The National Union of Air Transport Employees, NUATE, is to picket Kenya Airways from December 5 over poor treatment of Nigerians employed by the airline.

The General Secretary of NUATE, Olayinka Abioye, made the disclosure in an interview with the News Agency of Nigeria, NAN, in Lagos on Monday.

Mr. Abioye explained that the picketing would be indefinite until the management of the airline acceded to the union’s demands.

Nigeria's External Reserves have risen to $38.2bn, representing the highest in the last 39 months. The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele made this known on Tuesday in Agabara, Ogun state while commissioning the 10, 000 metric tonnes Blue Band factory constructed by Unilever Plc.

The Nigerian National Petroleum Corporation (NNPC) has reiterated that there is no plan to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming yuletide. The Corporation re-emphasised this in a statement signed by Mr Ndu Ughamadu, Group General Manager Group Public Affairs Division, in Abuja, on Monday.

The Senate has passed the Medium Term Expenditure Framework (MTEF) for 2018 to 2020.

Local vehicle manufacturing company, Innoson Group has announced plans to begin massive manufacturing of affordable and quality vehicles by 2018. The Chairman of Innoson Group, Dr. Innocent Chukwma made the disclosure on Sunday while receiving the Nigeria Institute of Public Relations (NIPR), Brand Symbol Award, conferred on him by the Acting Chairman of FCT Chapter of the Institute, Aliyu Aliyu.

The Nigerian Ports Authority, NPA, on Tuesday said five out of eight ships waiting to berth in Lagos ports contained petrol.

The ports authority stated this in its daily `Shipping Position’ released in Lagos.

Electricity Distribution companies in the country have perfected plans to deploy meter bypass trackers on distribution networks to check the increasing activities of some individuals and groups who often attempt to evade payment of electricity bills by bypassing electricity meters.
The planned deployment of the technology may not be unconnected with the recent warnings from the National Electricity Regulatory Commission (NERC) that electricity consumers who bypass meters would be forced to pay N45, 000 as fine.