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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

Minister: FG Willing To Partner Investors On Power Supply

Minister of Power, Mr. Abubakar Aliyu
The Minister of Power, Mr. Abubakar Aliyu, has disclosed that the federal government was willing to partner investors in the power sector to improve electricity supply in the country. ThisRead More

United Nigeria Airlines CEO Commends Air Peace, Cautions Against Undue Criticism

Chief Executive Officer of United Nigeria Airlines, Dr. Obiora Okonkwo
The Chief Executive Officer of United Nigeria Airlines, Dr. Obiora Okonkwo, has commended Air Peace for the feat it has attained in eight years of operation to become one ofRead More

Again, NNPC Apologises To Nigerians, Reveals Five Vessels Of Substandard Fuel Rejected

Nigerian National Petroleum Corporation (NNPC)
Assures petrol supply will be restored next week Group Managing Director and Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, Mr. Mele Kyari, yesterday apologised to Nigerians forRead More

Massive Oil Theft, High Pipeline Repairs Cost, Bleeding Nigeria’s Economy

Oil pipeline
At 200,000bpd, over $29bn lost to theft in six years Over N700bn expended on repairs, maintenance A combination of huge oil pipeline repairs cost and a high-level crude oil theftRead More

FG Rejects Two Cargoes Of Adulterated Petrol Imported From Belgium

Organisation of the Petroleum Exporting Countries (OPEC)
STI SYMPHONY makes U-turn off coast of Guinea OPEC’s production drops by 700,000bpd Following the circulation of adulterated petrol in Nigeria, which damaged vehicle engines last week, the federal governmentRead More

Confusion as 4 Oil Companies Named By NNPC As Liable For Imported Substandard Petrol Deny Accusation

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari
Four of the oil companies accused by the Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, of importing substandard petrol have all in writing deniedRead More

How Federal Airports Authority, NAMA Rip Off Airlines At Sunset Airports

Nigerian Airspace Management Agency (NAMA)
With the cost of operation hitting the roof and many domestic airlines facing liquidation, it has emerged the airlines are being ripped off by regulators via landing charges. Local operatorsRead More

National Assembly Angry Over Incessant Flight Delays, To Meet With Airlines

Murtala Muhammed International Airport (MMIA)
The National Assembly is angry over incessant domestic flight delays and has called for urgent meeting with the airline operators. The legislators said flight delays paralyse economic activities in theRead More

Adulterated Fuel: Kyari Names MRS, Emadeb-consortium, Oando, Duke Oil As Culprits

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari
Explains why inspectors did not detect bad petrol before circulation National oil company requests emergency supply NMDPRA says nation has 10-day reserve deficit, announces arrival of 300m litres of fuelRead More

Adulterated Fuel: Buhari Angry, Orders Query Of NMDPRA Head

President Muhammadu Buhari
371m litres in six cargoes, not 100m litres of petrol affected Regulatory agency admits high sulphur content in contaminated product Bad fuel withdrawn from circulation, say independent marketers President MuhammaduRead More