The Economic and Financial Crimes Commission (EFCC) has made a major breakthrough, with the apprehension of 34 suspected currency speculators in Abuja. The arrests were made by EFCC operatives deployed to the Taskforce on Currency Mutilation, Dollarization of the Economy, and Forex Malpractice, underscoring the agency’s relentless efforts to curb financial crimes across the nation….
In a recent town hall meeting with the business community at the Bristol Hotel in Kano, the Minister of Information and National Orientation, Mohammed Idris, shed light on President Tinubu’s vision for fostering a conducive environment for businesses to flourish. With an emphasis on streamlining regulations, providing investment incentives, ensuring robust infrastructure, and enacting policies…
In a surprising turn of events, a group of fervent young supporters of President Tinubu made their presence felt at the National Assembly, vehemently opposing the planned protests by the Nigerian Labour Congress (NLC). This display of fervor underscored the deep-seated divisions within the populace regarding the current state of affairs and the appropriate means…
In a significant move aimed at reshaping maritime security operations in Nigeria, the National Assembly is poised to introduce new legislation aimed at diluting the exclusive authority of the Nigeria Navy (NN) over patrol and security in the country’s maritime zones. This development is particularly focused on the expansive blue water and deep sea areas,…
Afreximbank’s $3.3 Billion Crude Oil Prepayment Facility for Nigeria The African Export-Import Bank (Afreximbank) has taken a significant step in addressing Nigeria’s economic challenges by confirming the initial disbursement of $2.25 billion from the recently approved $3.3 billion crude oil prepayment facility. This crucial financial support aims to alleviate the acute foreign exchange (FX) shortage…
The Defense Headquarters recently disclosed a remarkable achievement by the Nigerian military, stating that they successfully eliminated 6,880 terrorists and criminals, apprehended 6,970 individuals, and rescued 4,488 kidnapped hostages from January to date. Maj.-Gen. Edward Buba, the Director of Defence Media Operations, shared these astounding figures during an update on the military’s operations in 2023….
Local airlines, united under the Airlines Operators of Nigeria (AON), and manufacturers represented by the Manufacturers Association of Nigeria (MAN), are strategically positioning themselves to secure priority supplies of diesel and JetA1 from the anticipated Dangote Petrochemical Refinery. The collaboration aims to ensure that domestic carriers and local industries receive favorable consideration for these critical…
Dangote Refinery announced the successful reception of its first one million barrels of Agbami crude from Shell International Trading and Shipping Company Limited (STASCO). The cargo, which sailed to the facility’s Single-Point Mooring (SPM), was efficiently discharged into the refinery’s crude oil tanks, marking a crucial milestone in the refinery’s operational readiness. This inaugural supply,…
Nigeria’s Fuel: In a recent statement from S&P Global, concerns have been raised over potential cost increases for Nigeria’s petrol and diesel imports. This issue arises following the announcement by Netherlands and Belgium, key suppliers of Nigeria’s fuel, regarding plans to elevate specifications and quality standards for their exports. This move is part of environmental…
