The Central Bank of Nigeria (CBN) may soon allow the naira to freely find its value, with a possible depreciation on the official rate, usually pegged at about N305/$, an update on its website has indicated. The development is signaling an end to the most criticised foreign exchange rate window,Continue Reading
The Federal Government has commenced the process for the preparation of the 2020 budget with a directive to Ministries, Departments and Agencies to avoid inflating their personnel budget. The government also issued a warning to chief executives of all agencies of the government against the introduction of ghost workers inContinue Reading
A municipal building in Virginia Beach, Va., was turned into a scene of carnage on Friday afternoon after a longtime public utilities employee began firing indiscriminately at his co-workers with a handgun, the authorities said, killing a dozen people and injuring several others before dying after an extended shootout withContinue Reading
Nigeria experienced increased investment in last one year, the Vice President, Prof. Yemi Osinbajo has said. According to Osinbajo, investment interest increased from $66.4 billion in 2017 to $90 billion in 2018. Besides, he said the administration has invested over N3.5 trillion on infrastructure in the last 3 years TheContinue Reading
There was been a fire outbreak at the Apo transmission station that was later put out on Sunday. A 45MVA transformer, based on preliminary information was lost to the fire. The Abuja Electricity Distribution Company (AEDC) Head Corporate Communication, Mr. Oyebode Fadipe, disclosed. He noted that “Our technical team isContinue Reading
Federal Government has granted approval for construction of a one-million-barrel capacity to the onshore terminal operator of Otakikpo marginal field in OML 11, Green Energy International Ltd (GEIL). Issuance of the approval to construct (ATC) was a sequel to Department of Petroleum Resources (DPR) review of the detailed engineering designContinue Reading
A huge plume of smoke could be seen for miles as firefighters tackled a huge blaze near Heathrow Airport. Thick, black smoke could be seen billowing into the sky on Sunday afternoon, while witnesses claimed to hear a number of explosions. Trains through the area were reportedly delayed as firefighters tackledContinue Reading
Some Nigerians have been arrested in the United States for their alleged involvement in multi-million dollar wire fraud scheme. Legit.ng gathers that the nine defendants, Oluwaseun Adelekan, a/k/a “Sean Adelekan,” Olalekan Daramola, Solomon Aburekhanlen, Gbenga Oyeneyin, Abiola Olajumoke, Temitope Omotayo, Bryan Eadie, Albert Lucas, and Ademola Adebogun, were arrested forContinue Reading
The Joint Military Task Force (JTF) in the Niger Delta has revealed that the masterminds of the April 21 fire outbreak at Aiteo’s OML 29 oilfields died in the inferno. Rear Admiral Akinjidie Akinrinade, the JTF Commander, disclosed this shortly after inspecting the site of the incident in Awoba area,Continue Reading
Four senior staff of the National Emergency Management Agency (NEMA) have been kidnapped by unknown gunmen, while another was shot Tuesday evening in Rivers State. The incident took place in Abua-Odual Local Government Area (LGA), while the officers were on official duties. The officers were in Rivers to conduct anContinue Reading
