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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

Confusion Over Alleged Hike In Electricity Tariffs

Nigerian Electricity Regulatory Commission (NERC)
NERC denies suspending eligible customer scheme The Nigerian power sector was thrown into confusion yesterday over conflicting information regarding a resolution by the Nigerian Electricity Regulatory Commission (NERC), directing theRead More

NNPC Fixes Base Oil Price For 2022 At $57, $61 for 2023

Nigerian National Petroleum Corporation (NNPC)
The Nigerian National Petroleum Corporation (NNPC) yesterday projected a medium term base crude oil price scenario of $57 to a barrel for 2022; $61 for 2023 and $62 for 2024.Read More

Ortom: Buhari Making Grazing Routes, Reserves Condition For Peace

Benue State Governor, Samuel Ortom
Alleges underground plot to make way for herdsmen Says president’s bad governance anchored in nepotism Insists Benue will reject grazing routes The Benue State Governor, Samuel Ortom, has said theRead More

Falana Asks FG To Release N6bn To States For Ranching

Mr. Femi Falana (SAN)
Human rights lawyer, Femi Falana (SAN), has called on President Muhammadu Buhari to approve the allocation of N6 billion to all state governments in the country for ranching development purposes,Read More

NNPC Ventures, Shipping, Refineries, Lead In Corporation’s N56.1bn Loss In April

Nigerian National Petroleum Corporation (NNPC)
Oil records longest deficit run since 2019 Seven subsidiaries and business units of the Nigerian National Petroleum Corporation (NNPC) contributed a cumulative N56.177 billion to the national oil company’s totalRead More

Buhari: Nigeria’s $3bn Share Of Africa’s $75bn FDI Unacceptable

President Muhammadu Buhari
Report: foreign investment flow to Nigeria decreased 48.5% US: OPEC must pump more oil to cut prices President Muhammadu Buhari has said Nigeria’s low share of Foreign Direct Investment (FDI)Read More

Anti-Open Grazing Bill Passes First Reading In Enugu

Open Grazing
A bill to ban open grazing in Enugu State has passed its first reading at the state House of Assembly. Presenting the bill yesterday, Leader of the Assembly, Ikechukwu Ezeugwu,Read More

BUA Cement Donates 150tns Of Cement, N10m To Host Communities

BUA Group
As part of its corporate social responsibility, Africa’s leading cement giant, BUA Cement Company, on Wednesday donated 150 tonnes of cement and N10 million to its host communities in WamakkoRead More

Lagos State Govt Shuts Ladipo Market Indefinitely

Ladipo Market in Mushin Local Government Area of Lagos State
The Lagos State Government has shut down the nation’s largest auto spare part market, Ladipo Market, in Mushin Local Government Area of the state indefinitely. The government accused the tradersRead More

FDC: Ending FX Sale To BDCs Disrupts ‘Juiciest Economic Racket’

CBN Governor, Mr. Godwin Emefiele
Says Nigeria spending more on bureau de change than debt service Naira depreciates to N525 on parallel market, stable on I & E window By putting an end to theRead More