Monday, February 18, 2019

Oluwatoyin Bayagbon

    We’ll seek redress over this injustice, says First Bank on contempt order

We’ll seek redress over this injustice, says First Bank on contempt order

First Bank of Nigeria (FirstBank) says the contempt order served on Ibukun Awosika, its chairman, and Adesola Adeduntan, managing director (pictured), is not valid.On June 6, Ibrahim Buba, a judge of the Lagos division of the federal high court, ordered the bank to pay Ogoni community in Rivers state N122 billion bond guaranteed on behalf of Shell Petroleum Development Company Limited [...]

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    Dele Momodu to launch three books

Dele Momodu to launch three books

Dele Momodu, publisher of Ovation Magazine, will on July 10 launch three separate books to commemorate the 20th anniversary of MKO Abiola’s death and to also mark the 25th  anniversary of the annulled June 12, 1993 election.The launch will place at the Nigerian Institute of International Affairs (NIIA) in Lagos.The three books are titled "PENDULUM: The Writings of Dele Momodu Vol I, PENDULUM: [...]

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    Crude oil prices unstable as markets anticipate increased OPEC output

Crude oil prices unstable as markets anticipate increased OPEC output

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    71 days after passage, national assembly ‘transmits’ PIGB to presidency

71 days after passage, national assembly ‘transmits’ PIGB to presidency

The national assembly says it has transmitted the petroleum industry governance bill (PIGB) to President Muhammadu Buhari.This comes 71 days after the national assembly passed a harmonised version bill into law on March 28.The PIGB is the first of the four-part petroleum industry bill. [...]

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    Croatia, Japan, Benin Republic… these countries have ignored Nigerian crude since 2015

Croatia, Japan, Benin Republic… these countries have ignored Nigerian crude since 2015

Reports made available by the Nigerian National Petroleum Corporation (NNPC) show that Croatia, Benin Republic and Japan have not purchased crude oil from Nigeria since 2015.In the case of Japan, it has not purchased Nigerian crude since 2014. [...]

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    Prioritise Niger Delta indigenes in awarding new oil licences, Edwin Clark to FG

Prioritise Niger Delta indigenes in awarding new oil licences, Edwin Clark to FG

Edwin Clark, Ijaw leader and convener of Pan-Niger Delta Forum (PANDEF), says indigenes of the Niger Delta should be prioritised in the award of new oil licences.Clark made the remark at a press briefing in Kiagbodo, Delta state, on Wednesday. [...]

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    NBS: Europe was Nigeria’s largest crude customer in Q1 2018

NBS: Europe was Nigeria’s largest crude customer in Q1 2018

The Foreign Trade in Goods report for the first quarter of 2018 shows that most of Nigeria’s crude was purchased by countries in Europe.The report, which was released by the National Bureau of Statistics on Wednesday, said crude oil accounted for 76.3% of the total exports in that quarter. [...]

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    First Bank partners with World Remit to ‘strengthen’ digital money transfer

First Bank partners with World Remit to ‘strengthen’ digital money transfer

First Bank of Nigeria Limited has announced a partnership with World Remit, an international digital money transfer service, for an instant transfer service to its customers in Nigeria.The new service was launched at First Bank’s head office in Lagos on Tuesday.Speaking at the launch, Gbenga Shobo, deputy managing director, First Bank, said the partnership is one of the ways the bank [...]

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    Ogoni clean-up exercise to commence August, says minister

Ogoni clean-up exercise to commence August, says minister

The federal government says the clean-up of affected sites in Ogoniland will begin in August. [...]

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    FG to begin transportation of petroleum products by rail

FG to begin transportation of petroleum products by rail

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    FG to announce refinery maintenance financiers in July

FG to announce refinery maintenance financiers in July

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    Forcados shutdown drags down OPEC’s May output

Forcados shutdown drags down OPEC’s May output

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    Absa Nigeria, Barclays Africa subsidiary, to join NSE as broker

Absa Nigeria, Barclays Africa subsidiary, to join NSE as broker

Barclays Africa says it will join the Nigerian Stock Exchange (NSE) as a broker in July, Reuters reports.The NSE was named among the best-performing stock markets in the world in 2017.In the past few years, the bourse has been mulling applications from leading global investment banks to join its trading floor to boost foreign investment in Nigeria.Speaking on Thursday in [...]

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    Experts: Nigeria’s petroleum industry groping in the dark without PIGB

Experts: Nigeria’s petroleum industry groping in the dark without PIGB

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    N2.6bn ‘fraud’: Appeal court acquits Akpobolokemi, ex-NIMASA DG

N2.6bn ‘fraud’: Appeal court acquits Akpobolokemi, ex-NIMASA DG

Patrick Akpobolokemi, ex-director general of Nigerian Maritime Administration and Safety Agency (NIMASA), has been acquitted of a N2.6 billion fraud charge by the Lagos division of the appeal court.Yargatta Nimpar, judge of the appeal court, upheld the no-case submission filed by Akpolokemi, after it was dismissed by a high court in October 2017.The Economic and Financial Crimes Commission (EFCC) had in [...]

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    Magu: EFCC ready to assist banks on verge of collapse

Magu: EFCC ready to assist banks on verge of collapse

Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), says a number of Nigerian banks are on the brink of collapse due to huge debts owed by "unscrupulous customers".Magu spoke on Thursday at an interactive session with the Association of Chief Compliance Officers of Banks in Nigeria.In a statement released by Wilson Uwujaren, EFCC spokesman, Magu said [...]

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Exchange Rates

February 18, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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