In a briefing held in Abuja on Wednesday, the Federal Government clarified that the Port Harcourt Refining Company is still in the test-run phase, with expectations that refined petroleum products will soon be available in the market. This announcement comes as oil marketers express concerns about the potential impact of the recent depreciation of the naira against the United States dollar on pump prices for refined petroleum products. Addressing questions about the status of the Port Harcourt refinery, the Minister of State for Petroleum Resources, Heineken Lokpobiri, informed journalists that the mechanical aspect of the refinery has been completed and…
Author: Editor Francis
In an effort to stabilise the country’s fluctuating exchange rate, the Central Bank of Nigeria (CBN) has mandated Deposit Money Banks to divest their surplus dollar reserves by February 1, 2024. The CBN, in a recent circular issued on Wednesday, cautioned against banks hoarding excess foreign currencies for profit, citing concerns about long-term foreign exchange positions. The circular titled “Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks” addresses the increasing trend of banks holding substantial foreign currency positions. This move comes shortly after another circular warning against false reporting of exchange rates and amid adjustments to the methodology…
The Abuja chapter of the Association of Bureau De Change (BDC) Operators has announced the indefinite closure of their business premises starting February 1, 2024. The scarcity of US Dollars is cited as the primary reason for this decision, with the association’s chairman, Abdulahi Dauran, pointing to online banking transactions and cryptocurrency as contributing factors. Despite the Central Bank of Nigeria (CBN) clearing the verified backlog of foreign exchange claims owed to foreign airlines on Tuesday, the official market witnessed a significant dip in the value of the Naira. Some trades closed at N1,513 per dollar, highlighting the ongoing challenges…
Civil servants may experience a delay in receiving their salaries this month as the federal government has announced that the payment for January will be late. In a statement issued by the Office of the Accountant General of the Federation, it was emphasised that the salary payment is not expected to be “coming to soon.” The statement, titled “Delay in the payment of January 2024 salary,” was made available late Wednesday to newsmen. It reads, in part, “We wish to inform you that January 2024 salaries will be delayed beyond the normal schedule. As of today, the Office of the…
The Directorate General, Immigration Office, Belgium, has expressed worry over the increasing number of Nigerian migrants seeking asylum in the country, revealing that approximately 30% of these asylum seekers are from Edo State. Mr. Freddy Roosemont, the Director General, disclosed this information during a press conference in Benin City on Wednesday. Addressing the press, Roosemont emphasised the negative impact this trend has on the corporate image of Nigeria and the individuals involved. The press conference was organised in collaboration with the Pathfinder Justice Initiative (PJI) to raise awareness about the consequences of irregular migration. Roosemont highlighted that in 2022, around…
Administrator Samantha Power of the United States Agency for International Development (USAID) met with the United Kingdom’s Minister of State for Development and Africa, Andrew Mitchell. The meeting focused on collaborative efforts between the U.S. and the UK to address the escalating humanitarian needs in Gaza, Sudan, and Ethiopia. Spokesperson Jessica Jennings, providing a readout of the discussions, noted that Administrator Power and Minister Mitchell emphasised the critical importance of ensuring the swift delivery of food aid and other humanitarian assistance to civilians in these regions facing dire circumstances. A notable part of the conversation revolved around international efforts to…
At UN Security Council briefing on Sudan and South Sudan, Mark Simonoff, Legal Adviser, addressed the Council, expressing grave concerns over the deteriorating situation in Sudan, particularly in the Darfur region. Simonoff highlighted the resurgence of violence reminiscent of events two decades ago and emphasised the need for international cooperation to address the ongoing crisis. The briefing unveiled shocking details of atrocities committed by the Rapid Support Forces (RSF) and allied militias against vulnerable communities, echoing the patterns observed during the Darfur genocide. Simonoff underscored the alarming reports of violent attacks, sexual violence against women and girls, and the destruction…
The University of Hawaiʻi (UH) and Ocean Networks, Inc. (ONI) have jointly unveiled a US$120 million public-private partnership. This collaboration aims to construct a state-of-the-art submarine optical fibre cable system, known as the Hawaiian Islands Fibre Link (HIFL), connecting the Hawaiian Islands and significantly enhancing high-speed broadband internet access across the state. The HIFL project is a pivotal element of Connect Kākou, the state’s broadband initiative, identified as a top priority by the administration of Governor Josh Green. The initiative, led by Lt. Governor Sylvia Luke, focuses on ensuring reliable and affordable high-speed internet access for residents from all backgrounds.…
The Economic and Financial Crimes Commission (EFCC) has revealed the discovery of a religious organisation involved in money laundering for terrorists, causing unrest in the country. Ola Olukoyede, the chairman of the anti-graft agency, disclosed this information during a one-day dialogue in Abuja on Wednesday. Addressing the audience at the programme themed “Youth, Religion, and the Fight against Corruption,” Olukoyede stated that the religious body came under scrutiny when it was identified as sheltering a money launderer, and funds suspected to be laundered were traced to the organization’s bank account. Olukoyede shared, “A religious sect in this country had been…
The Western Nigeria Security Network (Amotekun Corps) in Ondo State says it has arrested 31 suspects for various alleged crimes across the 18 Local Government Areas of the state. Mr. Adetunji Adeleye, Commander of the Amotekun Corps, made this known while parading the suspects before newsmen on Wednesday in Akure. Adeleye said that the suspects were arrested for offences including alleged kidnapping, illegal possession of firearms and those that specialised in the breaking of shops and houses. The commander said that the corps would not relent in its efforts to rid the state of criminal elements. He also said that…
The UN Security Council, Mark Simonoff, the Legal Adviser from New York, delivered a stark report on the alarming situation in Sudan. Simonoff expressed deep concern over the resurgence of violence reminiscent of events two decades ago in Darfur. Former President Bashir’s tactics, condemned by the international community in the early 2000s, seem to be resurfacing, with some actors going unpunished and now victimising communities that survived genocide. The Rapid Support Forces (RSF) are employing familiar violent methods, including attacks on civilians along ethnic lines, sexual violence, and the burning and looting of villages. The dire situation in Sudan is…
In a move to address water and sanitation challenges in Mozambique, the United States Agency for International Development (USAID) launched the country’s five-year High Priority Country Plan, aligning with the U.S. Government Global Water Strategy During Deputy Administrator Isobel Coleman’s visit to Mozambique, the U.S. emphasized its commitment to bolstering safe water, sanitation, and hygiene efforts in the region. USAID’s substantial investments over the next five years aim to provide water services and basic sanitation to at least 325,000 people, benefitting 90 schools and clinics. The initiative also focuses on fortifying Mozambique’s water and sanitation institutions, including district water offices,…