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Pound falls more than 1% after BoE move
Economy

Pound hits 37-year low against dollar

The pound fell to a fresh 37-year low against the dollar Friday as traders grow increasingly worried about the economic outlook with central banks ramping up interest rates to fight runaway inflation. Sterling fell as low as $1.1151 — its weakest since early 1985 — after the Bank of England on Thursday hiked borrowing costs […]

Oil Theft: Nigeria loses $150m every two days
Oil and Gas

EFCC, ICPC should probe oil theft not lawmakers – Falana

Human rights activist and Senior Advocate of Nigeria, Femi Falana said it is not the business of the National Assembly to investigate economic sabotage in the oil sector. Falana who made this revelation on a Channels TV interview monitored by our correspondent on Friday said the probing of economic sabotage in the oil sector is […]

Electricity customers paid N210.17b in three months - NERC
Electricity

Electricity customers paid N210.17b in three months – NERC

Power consumers paid N210.17 billion to distribution companies in the fourth quarter of 2021, according to the Nigerian Electricity Regulatory Commission. This was stated in its Quarterly Report for the Fourth Quarter of 2021, which was released on Thursday, noting that N210.17 billion represented 9.34 per cent of the total electricity bill paid by consumers […]

Nigeria needs debt relief - AfDB
News

Nigeria needs debt relief – AfDB

The President of the African Development Bank, Akinwumi Adesina has said that given the current debt situation of Nigeria, the country needs debt relief. According to The PUNCH, Adesina stated this at the Nigeria International Economic Partnership Forum in New York on Thursday. He explained that financing was important to addressing Nigeria’s development problems. He […]

S.Africa signs wind energy deal to ease power outages
Electricity

S.Africa signs wind energy deal to ease power outages

South Africa on Thursday inked the first three of a series of agreements with independent producers to supply wind energy amid worsening blackouts in the continent’s most industrialised economy. The coal-dependent country picked 25 wind and solar projects to generate a total of 2,583 megawatts, a boost of roughly 4.5 per cent on current capacity. […]

Oil Theft: Nigeria loses $150m every two days
Oil and Gas

600,000 barrels of crude oil stolen daily – NUPRC

The Executive Commissioner, Corporate Services and Administration in Nigerian Upstream Petroleum Regulatory Commission, Mr Jide Adeola, said about 600,000 barrels of crude oil are stolen per day. According to The Punch, Adeola made the revelation during the oil lifting and theft investigation chaired by Senator Akpan Bassey sitting at the Senate on Wednesday. He said, […]

Oil theft: PENGASSAN finger military, others
Oil and Gas

Oil theft: PENGASSAN finger military, others

The Nigerian Army and other security outfits have been accused in the oil theft skirmish by the Petroleum and Natural Gas Senior Staff Association of Nigeria. According to The Punch, PENGASSAN made the accusation during the oil lifting and theft investigation chaired by Senator Akpan Bassey sitting at the Senate on Wednesday. The National President […]

UK, South Korea warn against cyberattacks from North Korea
Banking

Fraudsters hack bank, transfer customers’ N522m

An old generation bank customer’s account was hacked by suspected fraudsters, transferring N523,337,100 from the account to 18 different accounts in the same bank. According to The Punch, the suspect during the three-day cyber attack transferred the hacked funds from the 18 accounts into 225 other accounts domiciled in 22 other banks and financial institutions. […]

First Bank suspends dollar transactions on naira debit cards
Banking

First Bank suspends dollar transactions on naira debit cards

First Bank of Nigeria has suspended international transactions using the Naira Mastercard, Naira Credit Card, our Virtual card, and Visa Prepaid Naira card due to the increasing scarcity of foreign exchange in Nigeria. This was revealed in an email sent to customers that Nairametrics obtained titled “Review of Naira Card cross-border limit.” In addition, only […]

Auction abandoned containers at seaports, NPA urges Customs
Maritime

Auction abandoned containers at seaports, NPA urges Customs

The Nigerian Port Authority has urged the Nigerian Customs to auction the abandoned overtime containers as they are occupying a chunk of the space meant for imported goods. According to BusinessDay, the containers occupying space at Nigeria’s three major seaports, Apapa, Tin-Can Island, and Onne, have increased to over 6,000. These 6,000 twenty-foot equivalent units […]

APO opens 2022 tech festival application to journalists
Conferences

APO opens 2022 tech festival application to journalists

APO Group, a leading Pan-African communications consultancy and press release distribution service have called on qualified African journalist to apply for an opportunity to win an all-expense trip to the 2022 Tech Festival and Travel. Announcing the Africa Tech Festival summit slated for 7 – 11, November 2022 in Cape Town, South Africa, the APO […]

Aviation firm unveils N500m handling equipment
Aviation

Aviation firm unveils N500m handling equipment

The Nigerian Aviation Handling Company Plc, has reportedly unveiled a new set of ground support equipment, which includes four units of high capacity Mallaghan mobile steps with chutes and a 14 tonnes cargo main deck high loader. According to The PUNCH, the firm also unveiled five units of Toyota Coaster buses and one Toyota Hiace […]

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