By Foster Obi Economic and Financial Crimes Commission, EFCC, on Tuesday, July 7, 2020, closed its case against Tuoyo Omatsuli, a former executive director, Projects, Niger Delta Development Commission, NDDC, and Francis Momoh, director, Building Associates Limited, before Justice Saliu Saidu of the Federal High Court, Ikoyi, Lagos. A statement by the Commission said the […]
The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday but warned that the spread of COVID-19 posed a risk to the outlook. The Paris-based IEA raised its forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last month, citing a smaller-than-expected second-quarter decline. “While the […]
Nigeria’s President Muhammadu Buhari has signed into law the 10.8 trillion naira ($28.38 billion) revised 2020 budget passed by lawmakers last month, a presidential aide said on Friday. Parliament in June passed the budget, which was revised as part of an effort by the government to tackle the new coronavirus pandemic and low oil prices. […]
The British High Commission in Nigeria says it will soon begin to receive visa applications from Nigerians willing to travel to the United Kingdom. The Commission noted that Nigerians hoping to visit the UK could do so once international flights resume in Nigeria. The Federal Government had in March shut the country’s airspace to domestic […]
China has dismissed as “frivolous” an attempt by Nigerian lawyers to get compensation for the coronavirus pandemic, which began in the Chinese city of Wuhan. The 11 lawyers accuse China of failing to promptly inform the World Health Organization (WHO) about the virus. They are demanding $200bn (£158bn) in damages for the “loss of lives, […]
The Minister of State for Petroleum Resources Chief Timipre Sylva says the deregulation of the downstream oil sector was to ensure economic growth and development of the country. Sylva made this known in a statement in Abuja, on Thursday. He said it was unrealistic to continue to subsidise the Premium Motor Spirit (PMS) also known […]
The FMDQ Holdings (FMDQ Group) has admitted the Axxela Funding 1 PLC ₦11.50 billion Series 1 Bond under its ₦50.00 billion Bond Programme platform. FMDQ Group in a statement made available to the News Agency of Nigeria (NAN) on Thursday in Lagos, said that Axxela Funding was admitted through its subsidiary, FMDQ Securities Exchange Limited […]
Nigeria’s excess crude account held $72.41 million as of July 7, the country’s finance minister said on Thursday. Zainab Ahmed gave the figure during a meeting of the country’s National Economic Council. The oil savings account, which holds dollar reserves from sales of crude above the assumed benchmark price, contained $324.54 million as of Nov. […]
Members of the Nigeria Governors’ Forum (NGF) met on Wednesday to discuss issues affecting the country, including the impact of the coronavirus (COVID-19) pandemic on Nigerians and the economy. At the meeting which held virtually and was presided by the NGF Chairman and Ekiti State Governor, Kayode Fayemi, the governors resolved to approve the work […]
The Federal Government has commenced the evacuation of another batch of 15 Nigerians stranded in Europe. The Nigerians in Diaspora Commission (NIDCOM) disclosed this on Thursday via its Twitter handle. As of 11am, the commission said the evacuees would depart the Charles de Gaulle Airport in Paris via an Air France flight to Nigeria and […]