Lagos State Governor Ambode

The Lagos State Government disclosed that it has terminated a Memorandum of Understanding (MoU) it entered into into with a consortium of firms to construct the Fourth Mainland Bridge at N844 billion. The Project was to be financed by the Africa Finance Corporation, Access bank and other private investors who have already signify intention to be part of the construction, while Visible Assets Limited would be the coordinating firm.

Chatham House - the Royal Institute of International Affairs

A report has revealed that about $480 billion was stolen or carted from Nigeria’s treasury by government corrupt officials between 1960 and 2004. Chatham House, the Royal Institute of International Affairs, who presented the report in Abuja yesterday is an independent policy institute based in London.

CAC NIgeria

Staff of Corporate Affairs Commission (CAC) under the aegis of Amalgamated Union of Public Corporation and Recreation Service Employees (AUPTRE) has concluded plans to embark on indefinite strike Wednesday, over alleged refusal by management of the Commission and Ministry of Trade and Investment to implement an agreement entered into with the union four years ago.

CBN Headquarters, Nigeria

The Central Bank of Nigeria (CBN) on Wednesday published a list of items, for which importers can source foreign exchange (Forex) from the market. CBN sent the list which has 36 categories, to all authorized dealers, Nigeria Customs and the public. It is endorsed by Director, Trade and Exchange, W.D Gotring.

Central Bank of NIgeria

The Central Bank of Nigeria (CBN) on Monday sustained its ongoing intervention in the foreign exchange market with the injection of fresh $205 million into various segments of the market with a view to strengthen the Naira. This notwithstanding, the naira devalued to N379 per dollar in the parallel market.

The Federal Government may have lost over N3.8 trillion to shortfall in oil production due to militants’ attacks and oil theft last year in the Niger Delta. Specifically, Nigeria is said to have lost about 700,000 barrels daily throughout last year, for which at the oil price of $50 per barrel, the country would have lost $35 million (N10.6 billion) daily, amounting to N3.8 trillion.

Calabar Garment Factory

Prof. Ben Ayade, the Cross River State Governor, has disclosed that the Calabar Garment Factory is now producing in commercial quantity and capable of meeting local needs including for export. The governor, speaking after the rollout of the first set of clothes from the garment factory in Calabar vowed that starting from June 2017, he would not be wearing clothes that are not made from the factory.

DG SON - Mr. Osita Aboloma

The Standards Organisation of Nigeria has vowed to impose strict sanctions on manufacturers of products that fail its Mandatory Conformity Assessment Programme. The Director-General, SON, Mr. Osita Aboloma, issued the warning in Abuja during the award of MANCAP certificates to 16 companies that scaled through the certification exercise.

The Nigerian National Petroleum Corporation is at the verge of signing a whopping $6bn (N2.25 trn ) worth of deals to exchange more than 300,000 barrels of crude oil per day for imported petroleum products, a source familiar with the issue disclosed to Vigil360.

Minister of State for Petroleum Resources - Dr. Ibe Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has disclosed that efforts are being put in place to maintain the pump price of Premium Motor Spirit (PMS) at N145 per litre. He said the feat was achievable despite significant challenges in the downstream sector.