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UPDATE: $184m Crude Swap: NNPC Reaches Agreement With Taleveras, Two Others

The Nigerian National Petroleum Corporation(NNPC) yesterday said it has reached a settlement agreement with Taleveras Group of Companied and two other companies involved in the $184 million crude oil swap. The others are AITEO Energy Resource Limited, Ontario Oil. NNPC commended Taleveras and other companies involved in the crude swap for reconciling their accounts and agreeing on a settlement plan to bring ...

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NNPC Commeds Taleveras, Prepares To Recover $184 Million Crude SWAP Under-Deliveries

The Nigerian National Petroleum Corporation, NNPC has commended Taleveras, one of Nigeria’s oil companies for its cooperative attitude in the ongoing reconciliation of transactions in the defunct crude for products arrangement. Group Managing Director (GMD), Nigeria National Peteoleum Corporation (NNPC), Dr. Maikanti Baru made this commendation while revealing NNPC's strategies to recover over $184 million ...

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FOREX: Dealers Pick $81.3m Out Of $100m Offered By CBN

Fresh facts emerging from Nigeria’s apex bank indicate that  following Thursday’s FOREX wholesale auction, the Central Bank of Nigeria (CBN) on Friday, March 24, 2017, concluded transactions on the sum of $100 million earlier offered at the interbank market to meet customers’ demand.But  authorized dealers were only able to pick $81.347 million after an initial bid for $91 million. Commenting on the offer, ...

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Oil Theft, Artisanal Refineries: Match Your Words With Action, Niger Delta Communities, Stakeholders Tell Buhari’s Govt

Stakeholders and communities in the Nigeria's oil rich Niger Delta have urged the Buhari administration to demonstrate laudable political will by effectively  addressing the issues of oil theft and artisanal  refineries in the Niger Delta. The stakeholders who gave this charge at a one-day National Conference on "Oil Theft An Illegal Artisanal Refineries in Nigeria" organized by Social Action Nigeria, in Po ...

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FOREX: Dealers Fear Further Dollar Crash As CBN offers $100m

The Central Bank of Nigeria (CBN) on Thursday, March 23, 2017 offered the sum of $100 million to meet the requests of wholesale customers, out of which $91 million was taken, indicating greater apprehension among dealers who anticipate a further crash of the dollar in the FOREX market. Confirming the offer, the Acting Director of Corporate Communications at the CBN, Isaac Okorafor, disclosed that the dealer ...

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Nigeria, Morocco Fertilizer Deal Creates 50, 000 Jobs

About 50, 000 jobs have been created in the country following the signing of a Memorandum of Understanding (MoU) on the supply of phosphate between the Nigerian government and the Moroccan government. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru disclosed this on Thursday while receiving the National Coordinator of The New Partnership for African D ...

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FAO, Africa Rice Trains 300 Farmers On Rice Production

By Abdallah el-Kurebe The Food and Agriculture Organization of the United Nations (FAO) is partnering with the Côte d’Ivoire-based Africa Rice Center (AfricaRice) are training 300 Nigerian rice farmers in paddy production technology. The training which is conducted under the Partnership for Sustainable Rice Systems Development in Sub-Saharan Africa agreement between FAO and AfricaRice, is intended to build ...

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‘We Have Nothing To Hide’ at NPA, Says Hadiza Bala Usman

The Managing Director of Nigerian Ports Authority, NPA, Hadiza Bala Usman  as described reports against her of late as malicious lies. She said in a statement, “In the last few days, I have faced a barrage of false malicious lies against my person in the media and I know the sponsors of this. I will not budge on my position on compliance to Federal Government of Nigeria policies and I will not bow on my sta ...

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Zenith Bank Shareholders Approve N63.4b Dividend, Applaud Performance

Shareholders of Zenith Bank Plc on Wednesday approved final dividend of N55.573 billion for the year ended December 31, 2016, bringing the total payout to N63.422 billion. The dividend, which translates to N1.77 per share, was paid out of N129.65 billion recorded for the year. The shareholders gave the approval at the Annual General Meeting held in Lagos. In all, the bank paid a total dividend of N63.422 bi ...

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Niger Gov Wants Minna Airport As Alternative to Abuja

Niger State Governor, Alhaji Abubakar Sani Bello  has  reiterated his commitment to making Minna Airport a credible and permanent  alternative to Nnamdi Azikiwe International Airport, Abuja. He stated this after inspecting the on-going state government intervention at ensuring the functionality and the comfort of passengers in the airport. The governor had been mounting pressure on the federal government an ...

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NCAA Okays Abuja Helicopter Operations

The Nigerian Civil Aviation Authority (NCAA) has cleared all Helicopter Operators duly certified by the Regulatory Authority to commence operations in and out of Abuja forthwith. General Manager, Public Relations, NCAA, Sam Adurogboye a letter has since been dispatched to all concerned operators. It will be recalled that the National Security Adviser had placed a ban on Helicopter operations into Abuja. “Ho ...

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Tony Elumelu Foundation Announces 1,000 Successful Applicants

The Tony Elumelu Foundation (TEF), an African founded and funded 21st century philanthropic organization committed to entrepreneurship development, ushers in an additional 1,000 African entrepreneurs. Applications were received from over 93,000 entrepreneurs across 55 African countries -  over 100% increase from 2016, and nearly quadruple of the 2015 application numbers. Proving that African youth are indee ...

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