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The Economic and Financial Crimes Commission has filed a fresh charge at the High Court of the Federal Capital Territory against the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele. EFCC in the charge accused Emefiele of approving the printing of N684,590,000 at the rate of N18.96 billion. On Tuesday, EFCC alleged that Emefiele broke the law with intent to harm the public during his implementation of […]
Hussein Julood has started legal action against UK oil giant BP over the death of his 21-year-old son. Julood alleges the burning off of gas at a BP-run oil field in Iraq, a practice known as flaring caused his son leukaemia. The case is believed to be the first time an individual has started legal action against a major oil firm over its flaring practices. Gas flaring is the burning […]
The 650,000 barrels per day Dangote Petroleum Refinery is taking advantage of cheaper oil imports from the United States for as much as a third of its feedstock as it starts up production. A report on Thursday stated that the plant has been shipping products in recent weeks while readying two units to enable gasoline (petrol) output that will deliver a long-promised transformation of the fuel market both in Nigeria […]
Oil prices surged more than three percent in early Asian trade on Friday following reports of explosions in Iran, Syria and Iraq, sparking fears of an escalation of the Middle East crisis. West Texas Intermediate jumped 3.66 percent to $85.76 and Brent rose 3.44 percent to $90.11. The reports come after a missile attack on Israel by Iran last weekend that Israel’s army Chief, Herzi Halevi warned would be met […]
President Bola Tinubu on Tuesday said Nigeria stands to benefit about $2.7bn annually by implementing the Single Window Project. He also noted that the project will save the country at least $4bn lost annually to complex bureaucracies and corruption hindering its trade efficiency. Tinubu revealed this when he inaugurated a new digital trade compliance initiative, code-named the National Single Window project at the Council Chamber of the State House, Abuja. […]
The Federal Competition and Consumer Protection Commission (FCCPC) has resolved to monitor and investigate unusual hikes in prices of goods and services. Ag. Executive Vice Chairman/Chief Executive Officer, Adamu Abdullahi in a statement issued on Wednesday said it was unacceptable that despite the recent appreciation of the Naira against the Dollar, consumers continue to face escalating costs without a corresponding decrease in prices. Despite the recent appreciation of the Naira […]
The Nigeria Civil Aviation Authority (NCAA) has suspended the permit of three private jet owners for engaging in illegal operations. According to the NCAA, the sanctioned jet operators have violated the terms of their permits for using their jets for commercial purposes. NCAA’s acting Director-General, Chris Najomo announced the suspension of the three private operators via X on Tuesday. The country’s aviation authority had initially deepened surveillance on holders of […]
The Premium Bread Makers Association of Nigeria, PBAN, has revealed the reasons behind the growing cost of bread in Nigeria. The association said the majority of the ingredients used to produce bread are imported and that this has an impact on the cost of bread in Nigeria due to exchange rate volatility. PBAN’s president, Emmanuel Onuorah, said this during an interview on Global Business Report on Tuesday monitored. According to […]
The owner of the microblogging site X, Elon Musk, has made plans to charge new users for posting on the network public. According to Musk, the only way to stop the spread of bots on the site is to charge new users. In response to inquiries over the new X's policy for freshly formed accounts, he made the statement. Musk also said that following a three-month period, new users would […]
