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NNPC Eyes New $2bn Crude Oil for Cash Loan to Support Production, Others

The Nigerian National Petroleum Company Limited (NNPC) is contemplating sealing another crude oil-for-cash loan to enable it raise at least $2 billion, with between 30,000 to 35,000 barrels per day repayment option. Two unidentified people familiar with the situation told Reuters. NNPC Group Chief Executive Officer, Mele Kyari confirmed the company’s plan to take the…

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Alleged Fraud : EFCC Witness Tells Court how Fund Were Moved From CBN Through Emefiele’s Wife

An investigator with the Independent, Corrupt Practices and other related offences Commission (ICPC), Michael Agboro, on Monday told the Federal Capital Territory (FCT) High Court in Abuja that Godwin Emefiele, former Governor of the Central Bank of Nigeria, awarded contracts to April 1616 and Architekon Nigeria Limited belonging to his wife and Sa’adatu Yaro, a…

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Tinubu Creates Ministry of Livestock Development To Stop Farmer-Herder Clashes

President Tinubu has inaugurated a livestock reform implementation committee headed by himself with former INEC chairman, Attahiru Jega as co-chair. Tinubu on Tuesday announced the creation of a new Ministry of Livestock Development in a bold move to stop the recurring clashes between herders and farmers resulting in destruction of lives and property across the…

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House of Reps ask FG to suspend SAMOA agreement

The House of Representatives has asked the federal government to suspend the implementation of the Samoa Agreement over the alleged “LGBTQ+ clause”. The House directed its Committee on National Planning to investigate the agreement within four weeks. The House resolution followed a motion of urgent public importance moved by the Deputy Minority Leader, Aliyu Madaki,…

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EFCC unveils how CBN under Emefiele transferred funds to companies operated by Emefiele’s wife

The Economic and Financial Crimes Commission, EFCC today unveiled how the Central Bank of Nigeria, CBN under Godwin Emefiele transferred funds to companies operated by wife of the former governor. The EFCC gave insights into the questionable transfers while leading a witness, Mrs. Ifeoma William Ogbonnaya at the resumption of trial of the former CBN…

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NNPCL Blames Logistics, Flooding On  Fuel Queues

The Nigerian Nigerian Petroleum Company Limited (NNPCL), has blamed resurfacing of fuel queues in some parts of the country on the disruption of ship-to-ship (STS) transfer of Premium Motor Spirit (PMS), also known as petrol, between Mother Vessels and Daughter Vessels resulting from recent thunderstorm. A statement by the company’s Chief Corporate Communications Officer, Olufemi…

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