Blog

Kenyan court freezes Flutterwave accounts over money laundering
Banking

Kenyan court freezes Flutterwave accounts over money laundering

A High court in Kenya has frozen bank accounts linked to a Nigerian fintech company, Flutterwave, over alleged money laundering and card fraud. Flutterwave which is run by Gbenga Agboola was tied in an investigation involving 56 bank accounts holding 7billion Kenyan shillings ($59.3m) suspected to have been laundered by foreign nationals, according to The […]

Flights to South-South most expensive - NBS
Aviation

Lagos airport runway to be shut for three months

The Federal Airports Authority of Nigeria confirmed that the domestic runway of the Murtala Muhammed Airport, Lagos will be completely closed for three months. This is to enable some repairs and installation of Air Field Lighting to be done, FAAN said in a statement on Wednesday titled, Airfield lighting installation: FAAN to close domestic runway […]

Naira falls N777 against dollar after CBN announcement
Energy

Operators blame weak naira, others for energy crisis

Oil and gas operators have identified the devaluation of the naira, amongst other challenges, as the cause of Nigeria’s energy crisis. The PUNCH quoted the operators as saying that these concerns have prevented investors from investing in Nigeria. The operators made this known at the ongoing 2022 Nigeria Oil and Gas conference in Abuja. According […]

Electricity

Discos to fight FG over takeover, restructuring

The receiver/manager’s nominee of Integrated Energy Distribution and Marketing Company has kicked against the Federal Government’s takeover and restricting plans. According to The PUNCH, the firm on Wednesday said it was the legal and beneficial owner of 60 per cent (controlling and managing) shareholding interests in the Ibadan Electricity Distribution Company. Also, the management of […]

Mohammad Barkindo
News

OPEC outgoing Secretary General Barkindo is dead

Secretary General of the Organisation of Petroleum Exporting Countries, Mohammad Barkindo, is dead. He died about 11pm on Tuesday. His death was announced in the early hours of Wednesday by the Nigerian National Petroleum Company Limited Group Managing Director, Mele Kyari. Kyari tweeted, “We lost our esteemed Dr Muhammad Sanusi Barkindo. He died at about […]

Flood: Gas scarcity looms as NLNG stops operations
Energy

90% Nigerians lack cooking fuels, 62% without electricity -FG

About 62 per cent of citizens in Nigeria lacked access to electricity, while 90 per cent had no access to modern cooking fuels, the Federal Government has said. The Minister of State for Petroleum Resources, Timipre Sylva, who disclosed this during his address at the ongoing 2022 Nigeria Oil and Gas conference in Abuja, said […]

Femi Gbajabiamila
News

Reps summon Sylva, Kyari, Emefiele over subsidy probe

Speaker of the House of Representatives, Femi Gbajabiamila, has knocked the Minister of State, Petroleum Resources, Timipre Sylva; Minister of Finance, Budget and National Planning, Zainab Ahmed; and Governor of the Central Bank of Nigeria, Godwin Emefiele; over their failure to appear before an Ad Hoc Committee on the Volume of Fuel Consumed Daily in […]

Fidelity bank
Electricity

Fidelity Bank takes over Kano, Benin, Kaduna Discos

Fidelity Bank Plc has taken over Kano, Benin and Kaduna electricity distribution companies after the bank initiated action to take over the boards of the three Discos. The Federal Government announced the takeover on Tuesday night. Also, the government through its Bureau of Public Enterprises, announced that with the takeover of Ibadan Disco by the […]

News

Bread will get more expensive, bakers warn

The President of Premium Bread Makers Association of Nigeria, Emmanuel Onuorah, has warned that the cost of bread might skyrocket with the rising inflation, fuel hike and power instability in Nigeria. Onuorah, who spoke on TVC News on Wednesday, lamented the high running cost of producing bread, and noted that these would impact on prices […]

FG okays concession of 700MW Zungeru power plant
Energy

FG okays concession of 700MW Zungeru power plant

The Federal Government has given the green light to speed up the concession process for the 700 megawatts Zungeru Hydroelectric Power Plant in Niger State. The Head, Public Communications, Bureau of Public Enterprises, Ibeh Chidi, made this known in a statement released in Abuja on Tuesday. According to Chidi, the approval of the strategy work […]

Gas consumption to decline over Russia, Ukraine war - Report
Oil and Gas

Gas consumption to decline over Russia, Ukraine war – Report

Gas consumption will contract slightly this year due to high prices and Russian cuts to Europe, with only slow growth over coming years as consumers switch to alternatives, the IEA said Tuesday. The International Energy Agency chopped its forecast for global gas demand by more than half in its latest quarterly report on gas markets. […]

Ban on alcohol in Abuja
News

Business owners protest alcohol ban in FCT

Owners of recreation centres have written to the Minister of the Federal Capital Territory, Muhammed Bello, to remind him that Nigeria is a democratic society and not an Islamic state. The business owners also rejected plans by the minister to prohibit the sale of alcoholic beverages in parks and gardens in Abuja. They demanded that […]