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Oil and Gas

FG may transport crude oil via trucks amids pipeline vandalism

The Federal Government has adopted a virtual means of evacuation of crude oil that involves the utilisation of barges and trucks for the transportation of crude from the point of production to injection/storage points for eventual transportation to export terminals. It said the Alternative Crude Oil Evacuation Systems was deployed to avoid production deferment, losses, […]

Aviation

Delta Air will remain premium carrier for Nigeria passengers – Director

United States-based global carrier, Delta Air Lines, has renewed its commitment to remain a premium carrier of choice for Nigerian passengers as air traffic continues to grow across countries after the COVID-19 pandemic. This was disclosed by the Director of Sales, Europe, Middle East, Africa, and India, at Delta Air Lines, Paul Hassenstab, during a […]

FG installs CCTV, Solar lights on Third Mainland bridge for security
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FG installs CCTV, Solar lights on Third Mainland bridge for security

The Federal Government has taken steps to enhance security at the upcoming reopening of the Third Mainland Bridge in Lagos by installing closed-circuit television and solar lights as part of the repair efforts. Minister for Works, David Umahi, disclosed this during an appearance on the Channels Television programme, Sunday Politics, on March 31, 2024. Umahi […]

Real Estate

94% of properties in Lagos without title – Stakeholders

Stakeholders in the building industry have disclosed that 94 per cent of properties in Lagos State do not have legal titles. This disclosure was made at the recent launch of Edge Facility Managers, which was held in Lagos, according to The Punch. The First Vice President of the Nigerian Institution of Estate Surveyors and Valuers, […]

News

NACCIMA to consult stakeholders over bank capitalisation

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture has said it will consult with stakeholders and await the disclosure of the complete policy framework from the CBN and the government. This disclosure was made in a statement by the National President of NACCIMA, Dele Oye on Sunday, according to The Punch. Oye […]

BDC operators reject amended CBN licensing guidelines
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Naira gains 21.8% against dollar in March 2024

The Naira appreciated significantly against the United States dollar throughout March 2024, marking a major turnaround for Nigeria’s exchange rate policy. According to official data, the Naira closed the month at N1309/$1 on the last trading day of the month, up from N1595.11/$11 at the end of February 2024. This follows the success of several […]

News

NITDA alerts Nigerians of new QR codes fraud

The National Information Technology Development Agency  has warned Nigerians to be wary of scanning QR codes as scammers are now using them to defraud users. According to the Agency’s latest advisory issued on Saturday, QR codes are being utuilised by miscreant as a way of Phishing scams, payment fraud and data stealing. According to NITDA, […]

News

SAHIF secures $38 million recapitalisation to boost expansion

The SA Housing and Infrastructure Fund, the largest black private investor in South Africa’s optical fiber industry, through one of its subsidiary, has secured $38 million (R700 million) funding to recapitalise its business by settling the fund’s existing facilities with African Infrastructure Investment Managers and Old Mutual Hybrids Equity. According to the statement, the company […]

Phone giant AT&T resets passcodes after breach
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Phone giant AT&T resets passcodes after breach

Phone giant AT&T has taken action to reset millions of customer account passcodes following the discovery of a massive data dump containing AT&T customer records earlier this month, TechCrunch has exclusively learned. The U.S. telecommunications giant initiated the mass reset of passcodes after TechCrunch notified AT&T on Monday that the leaked data included encrypted passcodes […]

Lagos tops list of states with most external debt
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Lagos tops list of states with most external debt

The Debt Management Office recently revealed that the total external debt stock of the 36 states and the Federal Capital Territory reached $4.61 billion by December 31, 2023, up from $4.46 billion recorded in the previous year. Over the span of one year, the foreign debt of the 36 states and the FCT saw a […]