Nigeria’s upper house of parliament on Wednesday approved a planned $2.786 billion Eurobond issue but advised the government to limit foreign borrowing to avoid a debt overhang and boost revenues. Nigeria, which emerged from recession last year, approved a three-year plan in 2016 to borrow more from abroad. It wants 40 percent of its loans […]
The verification for the payment of retirement and severance packages of ex-Nigeria Airways workers is being marred by irregularities. The final verification for over 4,000 ex-workers of the defunct national carrier commenced across the country on Monday, following an announcement by the Federal Government that it had approved N22.68bn out of the N45bn owed them. […]
Nigeria’s upper house of parliament plans to investigate a $3.5 billion fuel subsidy fund at state-oil firm NNPC, lawmakers said on Tuesday. The upper house claims NNPC used the fund to subside the price of imported petrol without the house’s approval, the lawmakers said. A spokesman for NNPC said the oil company would await a […]
The African Continent is exhibiting one of the fastest growth rate in internet penetration worldwide with digital connectivity almost tripled in the last five years, the African Union (AU) revealed on Tuesday. The pan African bloc, organising the first Africa forum on cyber-crime from October 16 to 18 in Ethiopia’s capital, Addis Ababa, however, expressed […]
Coinfirm, a RegTech and blockchain startup, working with KAD ICT Hub, is launching an anti-fraud platform in an African country where digital scams occur all too frequently. Though it boasts one of Africa’s strongest economies, Nigeria’s reputation is held back by incidents of online and digital fraud, many of them now relating to Bitcoin and […]
-As stakeholders seek speedy passage of social work regulatory bill Worried by the worsening levels of social insecurity for millions of Nigerians and the glaring lack of attention about the relevance and welfare of social workers in the country, stakeholders in the nation’s social sector are urging the National Assembly to facilitate speedy passage of […]
ExxonMobil Catalysts and Licensing LLC and BASF Corporation are conducting a full scale commercial demonstration of a new gas treating solvent at Imperial Oil’s Sarnia Refinery. The companies jointly developed the new amine-based solvent aimed at meeting stringent sulfur emissions standards with greater efficiency, further raising the bar for tail gas treating and acid gas […]
Sixty people were killed after a fire broke out on Friday on an oil pipeline in the southeast of Nigeria, a spokesman for the National Emergency Management Agency (NEMA) said on Monday, up from the tally of 16 dead given by officials three days earlier. The state oil company on Friday said pumping on the […]
The National Industrial Court, sitting in Ikoyi, Lagos State, on Monday voided the termination of employment of Mrs Arese Alonge, declaring her a subsisting Executive Director of Unity Bank. The court ordered the bank to pay all entitlements and benefits that pertain to her office. Alonge had on Feb. 11, 2015 instituted a suit against […]
This was one of the key messages in the speech that OPEC’s Secretary General Mohammad Barkindo delivered at the Oil & Money Conference in London this week. The oil market isn’t necessarily all in on OPEC’s ‘well-supplied’ narrative—the perception among market participants has been for weeks that the market is short on oil and will […]