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  • Kachikwu

By Omono Eremionkhale The Nigerian government appears set to introduce policy changes to finally herald the take off of deregulation of the downstream sector of the petroleum industry, minister of state petroleum resources, Ibe Kachickwu, confirmed on Tuesday. PREMIUM TIMES had exclusively reported on Monday that government was planning to unveil in a matter of […]

LONDON May 11 (Reuters) – Nigerian President Muhammadu Buhari demanded on Wednesday that Britain return assets held there by corrupt Nigerians, pointing the finger back at London after Britain’s prime minister suggested Nigeria was “fantastically corrupt”. David Cameron’s remarks during a conversation with Queen Elizabeth, caught on camera on Tuesday, have so far dominated the […]

By Ulf Laessing ANKA, Nigeria, May 11 (Reuters) – Arriving on motorbikes after midnight, a dozen gunmen opened fire on gold miners sleeping at a camp in northern Nigeria last month, killing one of them and stealing their equipment before fleeing into the bush. The site, a collection of huts and tents flanked by Baobab […]

Ifeoma Okeke The capital controls and unorthodox FX policies enacted by the Federal Government have continued to impact airline operators negatively, as their funds trapped in Nigeria rose to $700 million in April, from about $500 million in January. The consequence of this is the restricted sale of cheap ticket classes in naira. Experts say […]

  • gas opportunities

By Barani Krishnan NEW YORK, May 10 (Reuters) – Brent jumped 4 percent on Tuesday while U.S. crude settled up more than 2 percent, after a late burst of buying driven in part by expectations that record U.S. crude inventories would not swell by as much as they have in recent weeks. Crude supply outages […]

Naira Exchange Rates Black Market – May 11, 2016. These are the prevalent rates for the City of Lagos. Actual rates may vary slightly based on vendor.   NAIRA (N) USD ($) EURO (€) GBP (£) BUY/SELL BUY/SELL BUY/SELL 11/5/2016 320/323 360/364 457/463 10/5/2016 319/322 360/363 460/465 9/5/2016 319/322 360/363 460/465 6/5/2016 320/323 360/363 460/465 […]

By Ugo Nwagwu Earlier today, the British Prime Minister, David Cameron was caught on camera in a conversation with her Majesty, the Queen of England saying, “We’ve got some leaders of some fantastically corrupt countries coming to Britain… Nigeria and Afghanistan, possibly the two most corrupt countries in the world.” Nigerian President Muhammadu Buhari, said […]

Responding to the recent comments by David Cameron, Cobus de Swardt, Managing Director of Transparency International said: “There is no doubt that historically, Nigeria and Afghanistan have had very high levels of corruption, and that continues to this day.  But the leaders of those countries have sent strong signals that they want things to change, […]

By Amanda Cooper LONDON, May 10 (Reuters) – Oil rose on Tuesday, boosted by supply disruptions in Canada and elsewhere that have knocked out 2.5 million barrels of daily production and temporarily eclipsed concern over high global inventories and a looming surplus of refined products. Brent crude futures were up 39 cents on the day […]

Nigeria’s Access Bank officials released a statement Tuesday in response to media speculation surrounding the invitation of their CEO, Herbert Wigwe by the Economic and Financial Crimes Commission (EFCC). It reads as follows… May 10, 2016 PRESS RELEASE On May 6, 2016, officials of the Economic and Financial Crimes Commission (‘the Commission’), visited the Bank […]