No Plans to Increase Petrol Price -NNPC Assures Organised Labour, Others

BusinessLabourNewsNigeriaNo Plans to Increase Petrol Price -NNPC Assures Organised Labour, Others

PilotnewsFebruary 18, 2021

ABUJA — The Nigerian National Petroleum Corporation  (NNPC) has assured Organised labour and Nigerians that there will be no increase in the price of Premium Motor Spirit (PMS) also known as Petrol in the month of February. The corporation gave the assurance in a statement signed by its spokesman Dr Kennie Obateru in Abuja, on Thursday. “In spite of the rise in the price of crude oil in the international market, NNPC has ruled out...

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SEC Suspends Approval of Cryptocurrency-Related Products

BusinessMoneyNewsNigeriaSEC Suspends Approval of Cryptocurrency-Related Products

Beloved John (Staff Writer)February 14, 2021

The Securities and Exchange Commission has suspended the approval of cryptocurrency and related products following the directive of the Central Bank of Nigeria which demanded that banks terminate accounts connected to digital currencies. In a statement released on Friday, SEC, which had earlier disclosed its readiness to accept Bitcoin and other cryptocurrencies as securities, said it would no longer do so until such products are able to operate bank accounts within the Nigerian banking system....

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Senate Invites CBN Governor for Brief on Cryptocurrency

BusinessInvestingNewsNigeriaSenate Invites CBN Governor for Brief on Cryptocurrency

Bada Yusuf Amoo (Correspondent)February 12, 2021

The Senate has invited the Central Bank of Nigeria (CBN)’s Governor, Godwin Emefiele, to appear before its committees on the opportunities and threats of cryptocurrency on the country’s economy. The red chamber took the decision to invite the CBN governor following a motion by a Federal Lawmaker, Senator Istifanus Gyang, during a plenary on Thursday, concerning the CBN directive asking financial institutions to stop all transactions in cryptocurrencies and matters relating to them. In their...

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Lagos Government Seek Regulations of Boat Captains, Vessels

BusinessTransportationLagos Government Seek Regulations of Boat Captains, Vessels

Bada Yusuf Amoo (Correspondent)February 11, 2021

Governor Babajide Sanwo-Olu of Lagos has sought improved certification for boat skippers and better regulation of the operations of non-convention vessels that operate in the inland waterways of the country. The governor made the call while receiving the Director-General of the Nigerian Maritime Administration and Safety Agency (NMASA), Dr. Bashir Jamoh, during his visit to the governor. Sanwo-Olu said an improved utilization of Lagos waterways would go a long way in easing the traffic congestion...

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Why We Banned Cryptocurrencies – CBN

BusinessEconomyNewsWhy We Banned Cryptocurrencies – CBN

Beloved John (Staff Writer)February 8, 2021

The Central Bank of Nigeria named terrorism and money laundering as the rationale behind the ban of cryptocurrency-related transactions in Nigeria. In a statement released on Sunday, Osita Nwanisobi, Acting Director, Corporate Communications said the use of cryptocurrencies in Nigeria is a direct contravention of existing law. The decision has sparked outrage from mostly young people in a country that is the world’s second-biggest user of virtual currencies like Bitcoins. “The use of cryptocurrencies in...

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U.S. Endorses Okonjo-Iweala for DG WTO, Promises Her Its Supports

BusinessEconomyWorld NewsU.S. Endorses Okonjo-Iweala for DG WTO, Promises Her Its Supports

Bada Yusuf Amoo (Correspondent)February 6, 2021

The United States (U.S.) has commended Nigerian financial expert, Dr. Ngozi Okonjo-Iweala, for her desire to contribute her wealth of knowledge to the development of the World Trade Organization (WTO) as it salutes the decision of the Republic of Korea’s Trade Minister, Yoo Myung-hee to withdraw her candidacy for Director-General of the (WTO). This endorsement and salutation were contained in a statement released by the United State Trade Representative (USTR) Public and Media Affairs, in...

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Nigerian Cloud Scheduling App, Calendly, Raises $350m to Surpass Initial $3b Valuation

BusinessInvestingTechnologyNigerian Cloud Scheduling App, Calendly, Raises $350m to Surpass Initial $3b Valuation

Bada Yusuf Amoo (Correspondent)February 6, 2021

Calendly, a world-leading cloud scheduling app that got more usefulness in the wake of COVID-19 pandemic, has achieved a unicorn territory. In the report by The Atlanta Business Journal, the app which was founded by the Nigerian Tope Awotona has raised $350 million in the latest round of funding. Open View Venture Partners took the lead in the round with assistance from San Francisco-based Iconiq Capital. Calendly is a company that is one of the...

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Influx of Herdsmen: Miyetti Allah Advises FG to Leverage ECOWAS Transhumance Protocol

BusinessMigrationNewsInflux of Herdsmen: Miyetti Allah Advises FG to Leverage ECOWAS Transhumance Protocol

PilotnewsFebruary 4, 2021

ABUJA — Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) has called on the Federal Government to leverage the ECOWAS transhumance certificate protocol, to check the influx of herdsmen from neighboring countries. The call was contained in a statement, jointly signed and issued by Alhaji Muhammad Kiruwa, President, and Alhaji Baba Ngelzarma, National Secretary, of the association, on Thursday, in Abuja. Ngelzarma, who explained that the advice was part of resolutions reached at the end...

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DPR Clarifies Crude Accounting Process

BusinessNewsNigeriaOil & GasDPR Clarifies Crude Accounting Process

PilotnewsFebruary 4, 2021

LAGOS — The Department of Petroleum Resources (DPR) has clarified the process it uses for accounting for crude production in the country. The agency disclosed that most incidents relating to oil theft occur from the land terminals. A statement issued on Thursday in Lagos by Mr. Paul Osu, Head, Public Affairs, DPR, said Mr. Sarki Auwalu, Director, DPR made the clarification while speaking before the House of Representatives Ad-hoc Committee on Oil Theft in Abuja....

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We Are Not Afraid of Competition, Says TStv

BusinessEntertainmentFilm & TVNewsWe Are Not Afraid of Competition, Says TStv

PilotnewsFebruary 4, 2021

ABUJA — Mr. Bright Echefu, the Managing Director, TStv, an indigenous digital service television has said that the company was not “threatened” by the presence of other digital TV operators in the country. Echefu who said this at a news conference in Abuja on Wednesday added that Pay TV had a national spread across the 36 states of the federation and the Federal Capital Territory (FCT), Abuja. He said that with its modern facilities, TStv...

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