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Shortage of food looms over COVID-19 lockdown

Shortage of food looms over COVID-19 lockdown

• Careless shutdown will cause trouble, senate president warns • NMA seeks stay-at-home order, FG plans ban on inter-state travels • UBA to provide N5 billion for COVID-19 relief support in Africa Millions of Nigerians may be caught between a ...

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AIR France-KLM evacuates European nationals from Nigeria

AIR France-KLM evacuates European nationals from Nigeria

An aircraft operated by Air-France KLM on Thursday arrived at the Murtala Muhammed International Airport, Lagos to evacuate some European nationals from Nigeria. It was gathered that the flight, which also left the same day, got special approval from the ...

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SEC cautions Nigerians against patronising illegal schemes

SEC cautions Nigerians against patronising illegal schemes

The Securities and Exchange Commission has warned Nigerians against patronising fund managers that are not registered with the commission. According to SEC, in recent times, it has observed the proliferation of the operation of unlawful/unlicensed investment schemes, with promises of ...

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SON warns importers against illegal use of logo

SON warns importers against illegal use of logo

The Director-General, Standards Organisation of Nigeria, Osita Aboloma, has warned importers to desist from using SON logo on their goods in order to deceive consumers. Aboloma who was represented by the Director in-charge of SON in Lagos, Kabir Mohammed, at ...

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CBN suspends forex sales to BDCs over pandemic

CBN suspends forex sales to BDCs over pandemic

The Central Bank of Nigeria has granted a two- week market holidays to the Bureaux De Change operators. This followed a request by the Association of Bureaux De Change Operators of Nigeria to the CBN for the regulator to grant ...

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Billionaires’ list: Dangote loses $2.5bn in one month

Billionaires’ list: Dangote loses $2.5bn in one month

• Now world’s 77th richest person with $13.4bn The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, saw its total net worth drop by $2.5bn in the last 30 days, according to Bloomberg Billionaires Index. The index, which is a ranking of the ...

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COVID-19: Air Peace, Arik, others suspend domestic flights

Air Peace delivers FG’s medical supplies from Turkey

Air Peace, Arik Air, Dana Air, Azman and Max Air  have said they will be suspending all their domestic flight services as part of efforts to curtail the spread of the coronavirus. While Air Peace, Arik Air and Azman’s suspension ...

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COVID-19: Oil majors slash 2020 spending by 18%

COVID-19: Oil majors slash 2020 spending by 18%

The world’s biggest oil and gas companies are slashing capital spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the Saudi Arabia and Russia. Cuts already ...

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Check vessels with illegal waivers, group urges NIMASA

Check vessels with illegal waivers, group urges NIMASA

A maritime group, LOMEP, has urged the Nigerian Maritime Administration and Safety Agency to address the challenges confronting indigenous operators in the shipping sector. LOMEP made this call in a letter to the Director-General of NIMASA, Dr Bashir Jamoh. In ...

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COVID-19: Stop loading fuel, NARTO tells tanker drivers

COVID-19: Stop loading fuel, NARTO tells tanker drivers

The national leadership of Nigerian Association of Road Transport Owners said it had directed its employees to withdraw their services from fuel depots as part of efforts to curb the spread of COVID-19. NARTO, in a statement on Wednesday, signed ...

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NNPC spent N218.18bn on ailing refineries in 2019

No buyer has rejected Nigeria’s crude, says NNPC

Nigeria’s refineries under the management of the Nigerian National Petroleum Corporation incurred a total expense of N218.18bn in 2019. The refineries, namely Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company, recorded a cumulative ...

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Joshua ‘fit and healthy’ despite Queen, Charles contact

Joshua ‘fit and healthy’ despite Queen, Charles contact

Anthony Joshua remains ‘fit and healthy’ despite coming into contact with Prince Charles only a couple of weeks before the heir to the throne tested positive for coronavirus. The world heavyweight champion is following government guidelines around self-isolation but has shown ...

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Kyari: Buhari’s governance structure has collapsed, says PDP

Kyari: Buhari’s governance structure has collapsed, says PDP

The Peoples Democratic Party on Wednesday expressed apprehension over the alleged collapse of governance command structure of the Federal Government since the isolation of Mallam Abba Kyari, Chief of Staff to the President, Major General Muhammadu Buhari (retd.). Kyari had ...

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Coronavirus Update: We may be heading the way of China, Italy, FG warns

Coronavirus Update: We may be heading the way of China, Italy, FG warns

Cases rise to 40, govt orders complete border closure We will deploy soldiers to enforce contact tracing –FG Former PPMC MD, first Nigerian to die of coronavirus Nigeria has less than 500 ventilators for patients The Federal Government on Monday ...

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Coronavirus: Expect recession worse than 2008 global crisis – IMF

Coronavirus: Expect recession worse than 2008 global crisis – IMF

The International Monetary Fund has said the global economy will slide into a recession that is “at least as bad as during the global financial crisis or worse” this year on the back of the coronavirus pandemic. The Managing Director, ...

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Companies, ICT firms go remote as COVID-19 spreads

Coronavirus Update: We may be heading the way of China, Italy, FG warns

. Computer Village ready to comply when directive comes . WHO launches health alert service on WhatsApp With no proven solution in sight yet, the tendencies that most organisations will operate remotely, by activating the work-from-home policy is gradually becoming ...

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Why oil licensing round bids may not hold this year

Why oil licensing round bids may not hold this year

The possibilities of having an oil and gas bid round this year appears to be bleak as the coronavirus pandemic continues to affect global economies and foreign investments. Indeed, the United Nations Conference on Trade and Development (UNCTAD) had projected ...

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First commercial gold mine construction begins in Osun

First commercial gold mine construction begins in Osun

The construction of Nigeria’s only large-scale commercial gold mine has begun in Osun State and the facility will start producing gold in 2021. According to the Federal Ministry of Mines and Steel Development, the facility demonstrates the Federal Government’s desire ...

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Investors lose N2.3tr in three weeks of first COVID-19 case in Nigeria

Investors lose N2.3tr in three weeks of first COVID-19 case in Nigeria

Stock market investors have lost over N2.3 trillion barely three weeks after the first case of coronavirus, which is currently ravaging the whole world, was confirmed in Nigeria on January 28, 2020. Specifically, the market capitalisation of listed equities, which ...

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Nigeria slashes crude selling prices to woo buyers

Oil falls to $32 as OPEC+ postpones meeting

Nigeria has cut the official selling prices for its crude oil to record lows to clear a glut of unsold April-loading cargoes before releasing the May programme on Monday. The country has had to grapple with an unprecedented excess of ...

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