Category: West Africa
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Nigeria: Central Bank Sells N173 Billion Treasury Bills At Flat Rate
The Central Bank of Nigeria (CBN) sold N172.85 billion at its first treasury bill sale of the year on Wednesday with yields unchanged from the previous auction, held on December 21, fixed income traders said on Thursday. Reuters quoted traders to have revealed that the central bank sold N115.85 billion of one-year debt at a…
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Nigeria resumes payments to former Niger Delta militants: official
Nigeria has resumed payments of cash stipends to former militants agreed under a 2009 amnesty in the country’s Niger Delta oil hub, an official said on Thursday. “Two months of the ex-militants stipends were paid yesterday…The rest of their stipends will be paid later in batches by (central bank) CBN,” said Piriye Kiyaramo, an officer…
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Nigeria: Recession – Private Jets Ownership Drops By 50 Percent
The number of privately owned jets in Nigeria has shrunk by almost 50 per cent between 2015 and 2016, checks by Daily Trust have shown. Within this period, no fewer than 31 private jets have been de-registered with the aircraft either sold off or returned to their owners abroad. The development, it was gathered, is…
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Nigeria Union of Petroleum and Natural Gas Workers plan to shut down Total Nigeria
The Nigeria Union of Petroleum and Natural Gas Workers ordered on Thursday a strike at Total fuel truck depots across the OPEC member nation in protest against sackings. “We have stopped the operation of Total. We are at the table with Total discussing the situation of the workers,” Tokunbo Korodo, union chairman in the southwest…
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Nigeria: Oando, MRS, Rano, 36 Others to Lift Nigerian Crude in 2017
The Nigerian National Petroleum Corporation (NNPC) on Wednesday released names of 39 companies that will be involved in the sale and purchase of Nigerian crude for 2017/2018. Announcing the results on its Website, the Group General Manager, Crude Oil Marketing Division NNPC, Mr Mele Kyari, said the contract would run for one year effective from…
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Nigeria: Hackers Shift Attention to Whatsapp Users
Indications have emerged that hackers are now stealing people’s bank details by sending files over the messaging service, WhatsApp. Vanguard gathered that the hackers’ strategy is designed in a way that once opened (WhatsApp), the documents can gather sensitive information from users, including online banking details. According to a report, the virus has been disguised…
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Nigerian National Petroleum Corporation awards 2017 crude oil contracts
State-run Nigerian National Petroleum Corporation (NNPC) has awarded its 2017 crude oil term contracts to 39 companies, the company said on Tuesday. The contracts covering about 1.31 million barrels per day (bpd) of crude oil were awarded to 18 Nigerian companies, 11 international trading houses, five foreign refineries, three national oil companies and two “NNPC…
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Nigeria changes date for closure of capital’s airport
Nigeria plans to close the airport in the capital Abuja for six weeks from 8 March to repair its runway, the aviation ministry said on Tuesday, pushing the move back later than previously scheduled. The decision to shut the airport and divert Abuja-bound flights to Kaduna, an airport used primarily for domestic flights about 160…
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Nigeria: Good News for Nigeria As Oil Price Rises to $55.61
The price of Brent crude rose to $55.61 per barrel on Wednesday, up 26 cents from the previous day in what will be good news to oil dependent Nigeria. The Nigerian government has repeatedly lamented the impact of the fall in global oil prices on its economy which is suffering from a recession. The current…
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Sierra Leone: Govt Wages War On Electricity Theft
Government of Sierra Leone through the Ministry of Energy has formed and launched an Electricity Offence Committee in order to tackle the rate and spate of electricity theft in the country. The Committee was formed and launched at the Conference Room of the Ministry of Justice yesterday on Lamina Sankoh Street in Freetown. It comprises…