The Nigerian National Petroleum Corporation, NNPC, has called on Nigerians to disregard trending rumour of a planned hike in the pump price of Premium Motor Spirit, popularly known as petrol.
The Nigerian Navy on Sunday said it has intercepted about 825 bags of smuggled rice coming from Oyo to Kwara state. The Commandant Nigeria Navy School of Health Sciences, Captain Ayodele Olowolagba, who disclosed this while parading the suspected smugglers and their smuggled items in Offa, said the arrest was made at about 5:00 a.m. on Sunday.
According to the Central Bank of Nigeria (CBN), Deposit Money Banks (DMBs) in the country have successfully linked 38 million bank accounts with the Bank Verification Numbers (BVN). The apex bank stated that the achievement is part of its financial inclusion drive and that CBN said was targeting 100 million BVNs in the next five (5) years.
Emerging reports from the Supreme Court of Nigeria has on 5th July 2019 dismissed the appeal of Senator Ademola Adeleke challenging the declaration of Gboyega Oyetola as the winner of the Osun State governorship election.
Vigil360 reports that in the lead judgment by Justice Bode Rhodes-Vivour, the apex court declared that the absence of the judge who read the majority decision of the election tribunal made the judgment a nullity.
The Organization of Petroleum Exporting Countries (OPEC ) on Monday 1st July announced the re-election of Nigeria’s Mohammed Barkindo as Secretary-General for a three-year tenure. Barkindo, who is an accomplished oil technocrat with a wealth of experience in the oil and gas sector, was first elected as Secretary General of the bloc in 2016.
Contrary to claims by Oil marketers that they have no access to Foreign Exchange (FX) for imports, the Nigerian National Petroleum Corporation (NNPC) has disclosed that the Central Bank of Nigeria (CBN) provided about $3.6 billion foreign exchange (FX) to oil marketers. The funds are to be used to import petroleum products into the country.
In what appears to be a giant fight on corruption, on Monday 1st July 2019 Federal High Court sitting in Lagos granted the Federal Government of Nigeria permanent forfeiture of the sum of $8.4 million and N9.2 billion, respectively traced to the accounts of President Goodluck Jonathan's wife, Patience.
Oil prices rose more than one dollar a barrel on Monday after Saudi Arabia, Iraq and its allies backed an extension of supply cuts until at least the end of 2019 at their meeting in Vienna this week. Front-month Brent crude futures, for September, touched an intraday high of $66.63 a barrel and were up $1.72, or 2.7%, at $66.46 a barrel by 0639 GMT.