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CBEX Resumes Operations Despite SEC Ban

Crypto Bridge Exchange trading platform, CBEX
Despite the purported N1.2 trillion digital trading scam that allegedly impacted over 600,000 Nigerians, the troubled Crypto Bridge Exchange trading platform, CBEX, has reopened and announced new withdrawal alternatives in an effort to regain investor confidence. Despite continuing regulatory agency investigations, Punch reports that two traders on the CBEX platform have confirmed that the digital trading company has discreetly resumed operations, enabling new customers to register, trade, and withdraw winnings. The sources claim that in order to determine the amount lost in the scheme, which failed in April, an external audit of the company’s financial records and an insurance verificationRead More

Kyari Rallies NUPENG, NARTO, Others To Tackle Crude Oil Theft

NNPC Group Managing Director, Mallam Mele Kyari
The Group Managing Director of the Nigerian National Petroleum Company Ltd, Mele Kyari is seeking the support of the National Association of Petroleum and Engineering Gas Workers (NUPENG), the NationalRead More

Lawmakers Investigate Crude Oil Production, Revenue Generated By NUPRC

Nigerian Upstream Petroleum Regulatory Commission (NUPRC)
The House of Representatives Committee on Finance, yesterday requested for details of crude oil production from October 2021 to March, 2022, with a view to determining the revenue accrued toRead More

Gas Supply: FG Urges Shell, Chevron, Others To Allow Third Parties Use Of Their Pipelines

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Ltd Joint Venture (CNL)
Shell Nigeria, Chevron and the Nigerian National Petroleum Corporation (NNPC) Limited are hindering full operation of the Nigeria Liquefied Natural Gas (NLNG) project by not allowing third parties transit gasRead More

Uber, Bolt Drivers’ Union In Leadership Tussle

Uber and Bolt
E-hailing drivers association, comprising Uber and Bolt drivers, are currently embroiled in leadership tussle as a group has announced the removal from office of its National President, Oluwaseun Shonuga andRead More

Stock Market Shrugs Off Insecurity Worries, Gained N3.02trn In Q1

Nigerian Exchange Limited (NGX)
The market capitalisation of the Nigerian Exchange Limited (NGX) gained N3.02 trillion in the first quarter (Q1) of 2022, notwithstanding the growing insecurity concerns in the country. The market performanceRead More

Obaseki: Benin River Port‘ll Boost Export Earnings, Facilitate Economic Growth

Governor Godwin Obaseki
Governor Godwin Obaseki of Edo State has said that his administration remains committed to the realisation of the Benin River Port project, considering its economic benefits to the state andRead More

FG: Ajaokuta Rolling Mill Can’t Be Ready Again In 2022

Minister of Mines and Steel Development, Olamilekan Adegbite
Attributes delay to COVID-19, Russia-Ukraine war The federal government has ruled out the possibility of completing the 43-year old Ajaokuta Steel Rolling Mill in Kogi state this year, saying itsRead More

Mobile Money Industry Processed $1trn Worth Of Financial Transactions In 2021

Global System for Mobile Communications (GSMA)
The Global System for Mobile Communications (GSMA), a global organisation unifying the mobile ecosystem for societal change, yesterday, released its 10th annual “State of the Industry Report on Mobile Money.”Read More

FG will Have Only 5% Stake In National Carrier, Minister Of Aviation Insists

Minister of State, Aviation, Senator Hadi Sirika
The Minister of Aviation, Senator Hadi Sirika has insisted that the planned national carrier which is billed to commence operation later this year would be private sector driven, as theRead More

Kyari: Nigeria’s Economy No Longer Dependent On Oil Revenues

NNPC Group Managing Director, Mallam Mele Kyari
Says country not ready for electric vehicles Barkindo insists oil to remain relevant in foreseeable future The Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited, Mallam MeleRead More