Delhi Police Special Cell has arrested drug smugglers in Delhi and busted an international narcotics cartel. Two Afghans and a Nigerian man were arrested in Saket on Tuesday. The arrest was made near Max Hospital in Saket. Five kg of heroin and $4,200 (Rs 3,00,000 roughly) were seized from the three accused. The heroin seized […]
Rivers State has now overtaken Lagos as Nigeria’s number one investment destination, according to a report by the Nigeria Investment Promotion Commission (NIPC), which shows that the oil rich state received the largest investment in the first half of 2018. According to the report, a total of $45.74 billion was invested on 42 projects in […]
OPEC and its allies reduced oil output in August as a drop in Iranian supply due to U.S. sanctions derailed their attempts to raise production to agreed levels, delegates said on Saturday as the energy producers prepared to hold talks in Algiers. The development further raises pressure on the Organization of the Petroleum Exporting Countries […]
The Nigerian Stock Exchange (NSE) on Friday officially notified the investing public that Skye Bank Plc shares would be suspended from trading on Sept. 24. The exchange gave the notice in Lagos in a statement by Mr Olumide Orojimi, Head, Corporate Communications and Mr Godstime Iwenekhai Head, Listings Regulations. NSE said that the action was […]
The Nigerian National Petroleum Corporation (NNPC) says it has no hidden 470.5 million dollars and Eight billion Naira in any commercial bank as alleged by the Nigerian police. The NNPC in a statement by its Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, in Abuja on Friday explained that the allegation was not […]
Another minister serving in President Muhammadu Buhari’s cabinet has been found to have skipped the mandatory national youth service scheme, an offence that may see him lose his position and earn him jail term. The Minister of Communications, Adebayo Shittu, failed to participate in the NYSC scheme despite graduating from the then University of Ife […]
The National Bureau of Statistics (NBS) says the country’s foreign debt stands at 22.08 billion dollars and the domestic debt N3.48 trillion. The bureau disclosed this in its “Nigerian Domestic and Foreign Debt’’ Q2 2018 report released in Abuja, on Friday. According to the bureau, further disaggregation of Nigeria’s foreign debt shows that 10.88 billion […]
Oil prices rose on Friday ahead of a meeting of OPEC and other large crude exporters that will focus on production increases as U.S. sanctions restrict Iranian exports. OPEC and its allies are scheduled to gather in Algeria on Sunday to discuss how to allocate higher supply to offset the shortage of Iranian supplies. Benchmark […]
Police in Nigeria recovered $470.5 million in bank accounts related to the state oil company as part of an exercise to recover stolen funds, and the money will be sent to government coffers, the country’s police force said on Thursday. President Muhammadu Buhari, who won the 2015 election on an anti-corruption ticket, ordered government revenues […]