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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

With Withdrawal Of Wrong Fuel from Circulation, Queues Return To Abuja, Lagos, Others

Long queue at a filling station in Nigeria
Petroleum marketers confirm presence of adulterated fuel in circulation Motorists in FCT spend hours in queues, traffic grounded Group wants alleged petrol hoarders arrested, prosecuted Following the supply of aRead More

Oil Wells’ Ownership: Rivers, Imo Know Fate As Supreme Court Fixes May 6 For Judgment

Supreme Court of Nigeria
The dispute between Rivers and Imo States over the ownership of 17 oil wells would finally be laid to rest on May 6, 2022, when the Supreme Court would deliverRead More

In Major Setback For Oil Production, Shell Defers Expansion Work On 225,000bpd Bonga Oilfield

Oilfield
Oil giant announces $19.29bn 2021 full year earnings In a big hindrance to Nigeria’s hope of raising its poor daily oil production, Shell has said it would delay expansion workRead More

Ladol, Samsung Reach Settlement, Truce May Unlock $300bn Investments

Lagos Deep Offshore Logistics Base (LADOL) Group and Samsung Heavy Industries (SHI) Nigeria
NEPZA, NPA, stakeholders hail truce The Lagos Deep Offshore Logistics Base (LADOL) Group and Samsung Heavy Industries (SHI) Nigeria, yesterday signalled an end to their five-year hostility, which had costRead More

GIG Logistics Launches Crypto Payment Gateway On GIGGO App

GIG Logistics
GIG Logistics, the leading provider of last-mile delivery solutions in West Africa, has launched a version of its propriety delivery app ‘GIGGo’ with a crypto wallet. The crypto wallet willRead More

Air Peace Apologises To Passengers Over Flight Delays

Air Peace
Air Peace has apologised to passengers over flight delays, acknowledging that customers are the king but insisted that the airline would never compromise on safety standards no matter the situation.Read More

95 Days After Launch, eNaira Wallets’ Download Near 700,000

Central Bank Digital Currency (CBDC), also known as the eNaira
The Central Bank of Nigeria (CBN) digital currency, eNaira, has continued to attract the interest of Nigeria’s banking public at home and across the world, with its total downloads hittingRead More

Nigeria’s Forex Inflow Hits $55.5bn In Seven Months

Central Bank of Nigeria (CBN)
The Central Bank of Nigeria (CBN) has disclosed that Nigeria recorded a foreign exchange inflow of $55.5billion within a seven-month period. It attributed the forex inflow to increased non-oil receiptsRead More

Buhari Unveils BUA Cement’s Plant In Sokoto, Calls For More Private Sector Investment

Buhari Unveils BUA Cement’s Plant In Sokoto, Calls For More Private Sector Investment
Emefiele appeals to manufacturers to address high cost of cement, building materials Rabiu: BUA to ramp up cement production to 17 million metric tonnes next year President Muhammadu Buhari yesterdayRead More

NNPC Secures $5bn Funding From Afreximbank For Upstream Business, Others

Nigerian National Petroleum Corporation (NNPC)
Continental bank to underwrite $1bn as part of transaction The Nigerian National Petroleum Company Limited (NNPC) has secured a $5 billion corporate finance commitment from the African Export-Import Bank (Afreximbank)Read More