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The Central Bank of Nigeria (CBN) has announced the postponement of the proposed launch of its digital currency, e-Naira. A statement by apex bank’s Director of Communications, Mr Osita Nwanisobi, said that the launch, which was earlier scheduled for Oct. 1, was postponed due to other activities lined up to commemorate the country’s 61st independence…
October 1, 2021
...Some options traders are betting that oil prices could jump to $200 a barrel by the end of next year. ...Call options at Brent at $200 a barrel for December 2022 traded 1,300 times on Wednesday. Some options traders are betting that oil prices could jump to $200 a barrel by the end of next…
October 1, 2021
The House of Representatives Committee on Host Communities has disclosed that it will ensure the full implementation of 13% derivation principle in revenue sharing for the oil producing States. This was revealed by the Chaiman of the House Committee, Hon. Dunamene Deakor at an interractive and investigative meeting of the committee with the top management…
September 30, 2021
The Senate has kickstarted move to ensure the relocation of the operational bases of the oil and companies in Nigeria to Niger Delta. This was followed by a motion submitted by Senator Albert Akpan who represents Akwa Ibom North-east Senatorial district. The motion which was sponsored by Akpan and co-sponspored by 23 other lawmakers is…
September 28, 2021
Deal Still At Paperwork Stage, Energy Consumer Network Laments There are growing concerns over the stalled Power Project Initiative contract signed between the federal government of Nigeria and Siemens AG by stakeholders in the nation's power sector. German Chancellor, Angela Merkel had tapped Siemens to help Nigeria develop a roadmap “to resolve existing challenges in…
September 23, 2021
Chairman, Dangote Sugar Refinery Plc, Aliko Dangote has said that the National Sugar Master Plan (NSMP), when executed as designed, can save the nation foreign exchange in excess of $700million yearly from the backward integration component. Dangote, according to a statement by the company, made the disclosure during a facility tour by some businessmen on…
September 21, 2021
Nigerians have continued to react as the Naira sold between N572 and N575 to a $1 at the parallel market despite the suspension of the activities of AbokiFX. AbokiFX, a website that collates black market exchange rates in Nigeria, had suspended activities following allegations by the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele…
September 20, 2021
President Muhammadu Buhari has ordered the incorporation of the Nigerian National Petroleum Company (NNPC) Limited. The president on Sunday also appointed members of the management board of the NNPC. This disclosure was made in a statement issued by Special Adviser to the President (Media and Publicity), Mr Femi Adesina. According to the statement, the president…
September 19, 2021
A former Deputy Governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, has explained how currency speculators have been deliberately attacking naira, contributing to its free fall in recent years. Moghalu stated that some forex traders are using speculative currency to tap profits from the exchange rate. The former Deputy Governor of CBN…
September 19, 2021
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The Central Bank of Nigeria (CBN) has announced the postponement of the proposed launch of its digital currency, e-Naira. A statement by apex bank’s Director of Communications, Mr Osita Nwanisobi, said that the launch, which was earlier scheduled for Oct. 1, was postponed due to other activities lined up to commemorate the country’s 61st independence…
October 1, 2021
...Some options traders are betting that oil prices could jump to $200 a barrel by the end of next year. ...Call options at Brent at $200 a barrel for December 2022 traded 1,300 times on Wednesday. Some options traders are betting that oil prices could jump to $200 a barrel by the end of next…
October 1, 2021
The House of Representatives Committee on Host Communities has disclosed that it will ensure the full implementation of 13% derivation principle in revenue sharing for the oil producing States. This was revealed by the Chaiman of the House Committee, Hon. Dunamene Deakor at an interractive and investigative meeting of the committee with the top management…
September 30, 2021
The Senate has kickstarted move to ensure the relocation of the operational bases of the oil and companies in Nigeria to Niger Delta. This was followed by a motion submitted by Senator Albert Akpan who represents Akwa Ibom North-east Senatorial district. The motion which was sponsored by Akpan and co-sponspored by 23 other lawmakers is…
September 28, 2021
Deal Still At Paperwork Stage, Energy Consumer Network Laments There are growing concerns over the stalled Power Project Initiative contract signed between the federal government of Nigeria and Siemens AG by stakeholders in the nation's power sector. German Chancellor, Angela Merkel had tapped Siemens to help Nigeria develop a roadmap “to resolve existing challenges in…
September 23, 2021
Chairman, Dangote Sugar Refinery Plc, Aliko Dangote has said that the National Sugar Master Plan (NSMP), when executed as designed, can save the nation foreign exchange in excess of $700million yearly from the backward integration component. Dangote, according to a statement by the company, made the disclosure during a facility tour by some businessmen on…
September 21, 2021
Nigerians have continued to react as the Naira sold between N572 and N575 to a $1 at the parallel market despite the suspension of the activities of AbokiFX. AbokiFX, a website that collates black market exchange rates in Nigeria, had suspended activities following allegations by the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele…
September 20, 2021
President Muhammadu Buhari has ordered the incorporation of the Nigerian National Petroleum Company (NNPC) Limited. The president on Sunday also appointed members of the management board of the NNPC. This disclosure was made in a statement issued by Special Adviser to the President (Media and Publicity), Mr Femi Adesina. According to the statement, the president…
September 19, 2021
A former Deputy Governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, has explained how currency speculators have been deliberately attacking naira, contributing to its free fall in recent years. Moghalu stated that some forex traders are using speculative currency to tap profits from the exchange rate. The former Deputy Governor of CBN…
September 19, 2021
