The Nigerian National Petroleum Company Limited (NNPCL) reported on Tuesday that 127 crude oil thefts were recorded in the nation’s hydrocarbon resources industry within seven days. The state-owned oil company, in its weekly report on the “War On Crude Oil Theft”, disclosed that it uncovered 51 illegal refineries, 29 illegal connections and discovered eight vessels […]
The Central Bank of Nigeria (CBN) on Friday advised the public to beware of counterfeit Naira banknotes in circulation following its attention drawn to the menace, especially of higher denominations, by some individuals for transactions across major cities in the country. The apex bank, in a statement signed by its Acting Director, Corporate Communications, Mrs. […]
The Federal Government has hinted that it may be compelled to revoke unutilized licences granted to marginal oil field operators which have remained non-operational since issuance. The Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe told Reuters on Monday that only companies with viable technical and financial backup would get to […]
The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has proposed a strategic collaboration between the revenue generation agency with the country’s armed forces to curb smuggling activities in the country. The Comptroller-General, who mulled the idea when he hosted the Chief of Defence Staff, General Christopher Musa, in what he described as a pivotal […]
The Nigeria Deposit Insurance Corporation (NDIC) on Wednesday hinted of its plans to increase maximum deposit insurance coverage payment to depositors of liquidated Deposit Money Banks (DMBs), Primary Mortgage Institutions (PMIs), and Microfinance Banks (MFBs) in furtherance of its financial system stability roles. Similarly, the corporation disclosed that it had introduced the Single Customer View […]
The Nigerian Senate on Wednesday formally commenced the process of amending the Cybercrime Act 2015 as part of ongoing collective efforts to improve the security of the nation’s cyber space for information sharing across the broad spectrum of the nation fast-evolving digital economy. Speaking at the one-day public hearing on the Cybercrime (Prohibition and Prevention) […]
Justice Hamza Muazu of the Federal Capital Territory High Court Abuja on Wednesday granted the embattled immediate past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on bail in the sum of N300 million and two sureties in like sum. Delivering judgment in his bail application today, the judge ruled that the sureties […]
The Federal Government on Tuesday announced the revocation of 1,633 mining licenses due to default in payment of stipulated service fees by operators. The Minister of Solid Minerals Development, Dr. Dele Alake, who made the announcement during a press conference in his office in Abuja, explained that the revocation becomes imperative following the expiration of […]
The Federal Government on Friday arraigned the immediate past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over alleged N6.5 billion procurement fraud at Federal High Court, Abuja Emefiele, who is facing a six-count charge before Justice Hamza Muazu of a Federal High Court, Abuja, reportedly pleaded not guilty to the charges. The […]
The Nigeria Data Protection Commission (NDPC) has initiated a new move aim at enforcing data users’ rights and promoting trust in Nigeria’s digital ecosystem. The move was communicated in a media advisory authored by Lead, Legal, Enforcement and Regulations Department of the commission, Barr. Babatunde Bamigboye, and sourced by our correspondent on Thursday. The commission, […]