Crude oil futures were higher during mid-morning trade in Asia Tuesday, continuing the uptrend seen Monday, as OPEC officials reassured the market they were committed to reaching a new output deal this week despite Qatar’s surprise withdrawal from the group. At 10:30 am Singapore time (0230 GMT), ICE February Brent crude futures were up 54 […]
Saudi oil minister said on Tuesday it was too soon to say if OPEC and its allies would cut production as the terms of a deal remain unresolved, Bloomberg reported. Khalid Al-Falih’s comments come as OPEC and its allies are working towards a deal this week to reduce oil output by at least 1.3 million […]
South African telecoms firm MTN Group and Nigeria’s central bank are in talks to settle an $8.1 billion dispute, their lawyers said on Tuesday, as a court in Lagos adjourned the case between the parties until Dec. 12. The dispute is over the transfer of $8.1 billion of funds which Nigeria’s central bank said the […]
As part of the recovery plan for the nation’s capital market the Securities and Exchange Commission, SEC, has mapped out strategies in key areas, especially investor protection and education, to boost investor confidence and enhance the expansion of the capital market role in Nigeria’s economy. Mary Uduk Mary Uduk, the Acting Director General, SEC, Ms […]
By Foster Obi Nigeria’s leading Electricity Distribution Company, Ikeja Electric Plc (IE), has won this year’s edition of SERAS Innovation Prize at the SERAS Awards held last Saturday, December 1, 2018 at the MUSON Centre, Onikan, Lagos. The DisCo bagged the prestigious award, which was keenly contested by Union Bank Plc, ISON BPO, Access Bank […]
When OPEC ministers announce this week how much oil they plan to pump in the coming months, they’ll be talking to a skeptical market searching for direction. As OPEC’s de facto leader, Saudi energy minister Khalid al-Falih faces his likely toughest test yet, when the organization meets Thursday in Vienna to debate output cuts that […]
Nigerian carrier, Air Peace, has successfully performed partial emergency evacuation and ditching demonstrations as part of the safety tests for the operation of its Boeing 777 aircraft. Air Peace Corporate Communications Manager, Mr Chris Iwarah, confirmed the development to newsmen in Lagos on Monday. Iwarah said the test, which was conducted by the Nigerian Civil […]
Sierra Leone has been disqualified from the 2019 African Cup of Nations qualifying competition, the Confederation of African Football said on Monday. Football’s world governing body FIFA had suspended the Sierra Leone Football Association in October due to “government interference”. CAF’s decision means Kenya and Ghana are assured of first and second place in Sierra […]
A few days after a new report by oil industry watchdog emerged that Nigeria stands to lose $4.5 billion in the controversial $1.1 billion allegedly given to owners of Malabu Oil Company, the Economic and Financial Crimes Commission has vowed that those involved would be punished. Magu Magu recalls day armed men strangled his guard […]
The Nigerian Navy at the weekend intensified the destruction of illegal refineries in the Niger Delta, with the activation of a fresh onslaught, codenamed operation ‘Ex Toru-Gbown (waterways protection)’ in the region. During the exercise which had been on for four days, at least a hundred finished illegal refineries were destroyed, while several new ones […]