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News Oil and Gas

No PMS price deal yet with Dangote refinery – Marketers

Oil marketers are anticipating the Dangote Petroleum Refinery’s release of Premium Motor Spirit, or petrol, as they disclosed that the refinery management have not yet finalised a PMS price arrangement with petrol marketers, according to The Punch. According to reports on Sunday, the Dangote refinery has once more pushed forward the delivery date of petrol […]

Crypto trader BLord arrested over alleged fraud
News

Crypto trader BLord arrested over alleged fraud

The operatives of the Nigeria Police Force have apprehended Linus Williams, widely known as BLord, a prominent figure in the cryptocurrency sector. The arrest took place in Abuja on Tuesday, with allegations leveled against BLord ranging from cryptocurrency fraud to terrorism funding and aiding internet fraud through his various companies. Police spokesperson Muyiwa Adejobi confirmed […]

News

Lagos partners CIG motors to enhance public transport

Governor Babajide Sanwo-Olu of Lagos State presided over the signing of a significant joint venture agreement between IBILE Holdings Limited, a state-owned corporation, and CIG Motors Company Limited. This partnership, heralded as a transformative move for Lagos’ transport sector, involves the acquisition of 5,000 new vehicles for the LAGRIDE fleet, injecting $260 million into the […]

Don, CITN advocate taxes for economic development
News

CITN hails supreme court ruling on LG autonomy

The Supreme Court’s decision upholding local governments’ financial independence in Nigeria has been warmly received by the Chartered Institute of Taxation of Nigeria. The institute praised the decision in a statement signed by its Acting Registrar/Chief Executive, Afolake Oso, on Monday, according to The Punch. Oso said that the supreme court’s decision will spur better […]

News Oil and Gas

Nigeria lost $1.84b fuel to theft in nine years – NEITI

The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, Dr Ogbonnaya Orji, has revealed that in nine years, the nation lost petroleum products valued at $1.84 billion from refineries. This was disclosed in a statement by Orji on Monday at the opening ceremony of the 2024 NEITI board retreat/meeting in Lagos, according to The […]

News

FG launch probe into alleged land-grabbing by Agip, Shell

The Federal Government has launched a probe into complaints by the oil-producing communities in Bayelsa State over land grabbing by international oil companies including the Nigerian Agip Oil Company and Shell Petroleum Development Company. The investigative team headed by Kamoru Busari, the director of the Federal Ministry of Petroleum Resources’ Upstream Department, along with representatives […]

Aliko Dangote, Africa’s most prominent industrialist, will officially step down as Chairman of Dangote Sugar Refinery Plc on June 16
News

Dangote Group plans $30bn revenue to boost naira

The President of Dangote Group, Aliko Dangote, has said that the $30bn revenue the company plans to generate by 2025 ending will strengthen the naira. This was disclosed by Dangote on Sunday during a tour of the Dangote Fertiliser Limited and Dangote Petroleum Refinery & Petrochemicals, signaling a strategy to become independent from the Central […]

News

UAE lift visa sanction on Nigerians

The Federal Government has negotiated an agreement with the United Arab Emirates (UAE) that will allow Nigerian passport holders to get visas for travel to the UAE beginning today, July 15, 2024 According to a monitored report from Channels TV, the Minister of Information, Mohammed Idris, made the statement during a briefing with State House […]

Crypto Market sheds $130bn amid Trump tariff
Crypto

Asian firm receives stolen $150,000 crypto from N’Korean hackers

Blockchain data has revealed that Huione Pay, a prominent payments firm based in Phnom Penh, received over $150,000 worth of cryptocurrency from a digital wallet linked to the North Korean hacking group Lazarus. The transfers occurred between June 2023 and February this year, according to previously unreported blockchain records reviewed by Reuters. The crypto was […]