Author: Akintayo Adams

The Central Bank of Nigeria’s prohibition on the public display of black market foreign exchange rates is being challenged by the Association of Bureaux de Change Operators of Nigeria, or ABCON. This was revealed by ABCON President Aminu Gwadabe in a statement on Tuesday, who attributed the volatility in the foreign exchange market to forex hoarders. In light of this, he believes that in order to resolve the country’s ongoing foreign exchange crisis, the central bank must examine BDC operations. This comes after an online BDC called AbokiFX was banned for more than two years. September 2021 saw the CBN,…

The proposed sale of Shell, the onshore Nigerian division of Shell Petroleum Development Company of Nigeria Limited, or SPDC, has been rejected by the Petroleum and Natural Gas Senior Staff Association of Nigeria, or PENGASSAN. This was revealed in a statement released on Tuesday by Lumumba Okugbawa, the general secretary of PENGASSAN. The announcement was made just one week after Shell had previously consented to sell Renaissance, a partnership of five Nigerian businesses and an international energy company, its onshore assets for a maximum price of $2.4 billion. In response to the news of SPDC’s impending sale, PENGASSAN asserted that…

Frank Onyeka, a midfielder for the Super Eagles, has advised Jose Peseiro’s team to unwind and be ready for their upcoming 2023 Africa Cup of Nations, or AFCON, Round of 16 match on Saturday. The Brentford player talked to reporters in the mixed zone on Monday night following Nigeria’s 1-0 victory over Guinea-Bissau. “Even though it was challenging, we are grateful for the victory; it was good to win to boost the confidence,” Onyeka remarked. “We must unwind and get mentally ready for the upcoming match. We are excited to move on to the next round even though we are…

According to information released by the Federal University of Technology (FUT) Minna, 187 students will graduate first class throughout the 2020–2021 and 2022–2023 academic years. This was said by Vice Chancellor Prof. Farouk Adamu Kuta during the press conference for the institution’s combined 31st and 32nd convocation, which is set for February 1, 2024, at Gidan-Kwano, the main campus located along Minna-Bida Road in Niger State. He clarified that a total of 7,312 graduates with first degrees, 120 with postgraduate diplomas, 955 with master’s degrees, and 150 with doctorate degrees were obtained from the 2020/2021 and 2022/2023 academic sessions, respectively,…

According to the Rivers State Police Command, three of its agents who kidnapped two travelers and demanded $3,000 from them will be subject to an orderly room trial and questioning, respectively. As she presented the suspects to reporters in Port Harcourt on Monday, the command’s spokesperson, Grace Iringe-Koko, explained that the action was a component of the internal disciplinary actions implemented against agents implicated in illegal operations. A Superintendent of Police named Iringe-Koko added that the N4.2 million in cash had been found and given to the intended travelers. The police officers, who included an inspector and two assistant superintendents…

Despite the fact that 4.5 million Nigerians aged 15 and older smoke, the Federal Government of Nigeria claims that tobacco-related diseases are the cause of more than 26,800 annual fatalities in the country. The Federal Competitive Consumer Protection Commission made a statement on Monday that included this information. The FCCPC’s acting executive vice chairman, Adamu Abdullahi, made this announcement in a statement on Monday during the organization’s ceremonial luncheon for tobacco control advocacy, which was themed “Don’t burn their future.” Remember that earlier last month, President Bola Tinubu removed former EVC Babatunde Irukera and nominated Adamu Abdullahi as the acting…

Employees at the video-sharing site TikTok claim that the firm is reducing personnel in an attempt to save expenses, making it the latest digital company to go through a round of layoffs in recent weeks. A representative for the company said that some 60 workers were let go, the most of them were in the sales and advertising department. They described the changes as a standard reorganization. Employees in Austin, New York, Los Angeles, and overseas are among those whose responsibilities were cut. In response to the layoff announcement, the corporation has planned a town hall meeting for this Tuesday.…

Oil marketers stated on Monday that refined petroleum products from the $20 billion Dangote Petroleum Refinery are to be sold in naira, not in US dollars as some had believed. Because so many operators had continued to register with the facility, dealers in the downstream oil industry also said that the refinery’s marketing registration process was still in progress. Furthermore, it was learned that the refinery’s management was meeting with representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority to fine-tune the price pattern for goods produced at the plant. The Dangote Petroleum Refinery declared on January 12, 2023,…

Nigeria stands to lose up to $21 million in foreign assets held by the multinational financial giant JP Morgan. This is due to the notice that was filed to withdraw the aforementioned amount from Nigeria’s account with the UK judgment debt. The notice was sent in response to the rejection of Nigeria’s appeal against the judgment of a British Court that allowed the assets to be seized from Nigeria’s JP Morgan account in order to offset the judgment that was entered against Nigeria approximately five years ago. Meanwhile, the withdrawal is presently being contested on procedural grounds by the law…

President Bola Tinubu’s “great sense of inclusiveness” has been hailed by the Christian Association of Nigeria (CAN). This was revealed to State House media on Monday by Most Rev. Daniel Okoh, the President of CAN, following his meeting with President Tinubu at the Presidential Villa. Rev. Okoh counseled the President to stay on this inclusive course, which he has taken from the start of his administration.He claimed that since the start of his government, President Tinubu has been taking “very positive steps” and is “actually sensitive to all the challenges we have,” according to the findings of the Christian body.…