Over 670 people have been killed by the virus in West African countries. Arik Air on Sunday said it would suspend flight operations to Monrovia in Liberia and Freetown in Sierra-Leone on Monday following the first Ebola virus death officially confirmed in Lagos. This is disclosed in a statement issued and signed by the airline’s Head of Corporate Communications, Ola Adebanji, in Lagos. It said the suspension would be in force until further notice. The first Ebola virus death officially confirmed in Lagos involved a Liberian national. He had flown into Lagos on a foreign airline from Monrovia via Lome…
Author: orientalnewsng
Godwin Emefiele, CBN governor The Central Bank of Nigeria, CBN, has expressed concern over the growing incidence of abuse of prudential regulations by banks through the issuance of foreign currency denominated bonds (Eurobonds). The bank’s director of banking supervision, Tokunbo Martins, said financial sector regulator was also worried that the banks were not adhering to the regulation regarding foreign currency borrowings in foreign lines of credit. According to Mrs. Martins, the lower interest rate on foreign debt was created as an incentive for banks to borrow abroad, apart from the added advantage of providing fairly stable and long term funds…
Bank Verification Number, BVN, is part of the Central Bank of Nigeria, CBN’s, cashless policy to capture customers’ data and check fraud in the banking system. It is an initiative of the CBN to give every customer in the Nigerian banking system a unique identification number that can be verified across all banks in Nigeria. The enrollment process for acquiring your BVN is simple. Visit any branch of the bank you have an account with. Registration by proxy not acceptable. Collect and fill the BVN enrollment form with all personal data about you. Submit the completed form to a designated official…
Nigeria, Ghana, Liberia, Ethiopia, Kenya, and Tanzania are to benefit from a $5 billion new technical and financial support by the World Bank for the development of some energy projects in Africa. The support is coming in partnership with President Obama’s Power Africa initiative aimed at providing the necessary infrastructure for the development of the continent. The World Bank Group President, Jim Yong Kim, said at the first U.S.- Africa Summit, that the new financial commitment was urgently needed to generate more electricity for the people of Africa. According to the World Bank President, about 600 million people in the continent live without access to electricity, despite…
A Federal High Court in Abeokuta, Ogun State, has ordered the Ewekoro Power Plant, EPP, located in Lagos, sealed for failure to pay outstanding taxes totaling N114 million. This followed a suit by the Federal Inland Revenue Service, FIRS and a prayer that a bench warrant be issued by the court for the arrest of the key officials of the company. The court gave the order after a series of adjournments occasioned by the refusal of the company’s officials to appear in court. The closure was carried out by court bailiffs, along with a combined team of FIRS officials and…
The Azura-Edo power plant is the first fully privately financed Independent Power Plant, IPP, in the country and is located in Ihovbor/Orior Odemwende communities of Edo state. Mr. Jonathan asked communities who are hosts to several federal, state and private sector projects to play a developmental role in terms of partnering with the government. The president said the federal government will continue to ensure that the growth of the power industry becomes self-sustaining and sustainable. “I want to use this opportunity to call on all the local communities around the country who are hosts to several federal, state and even…
The new price regime for domestic gas approved by the Nigerian Electricity Regulatory Commission, NERC, for power generation in the country would become operational from January 1, 2015. The takeoff of the new price regime was confirmed by the Group Executive Director, GED, in charge of Gas and Power directorate of the Nigerian National Petroleum Corporation, NNPC, David Ige. The Commission recently approved an upward review of the gas price from $1.5 per thousand cubic feet, MCF, to $2.5 per MCF. The Commission had described the review as a “pragmatic and creative” short term approach to address the challenge of…
Jega, Fashola Many residents of Lagos State have expressed their frustration over bid to collect their PVCs in preparation for the forthcoming general elections, Fisayo Falodi writes The seemingly poor handling of the permanent voter cards distribution in some parts of the country by the Independent National Electoral Commission has elicited reactions from various stakeholders and eligible voters. The stakeholders described the exercise as deliberately programmed to fail so as to deny millions of Nigerians the right to elect their leaders in the much awaited 2015 general elections. The shoddy and untidy nature of the permanent voter cards distribution,…
NNPC headquarters in Abuja Total crude oil and condensates lifting for both domestic and export markets was about 62.32 million barrels for the month of July, petroleum information data from the Nigerian National Petroleum Corporation (NNPC) has shown. From the figure, multinational oil companies accounted for about 40.33 million barrels, or 64.72 per cent, of the lifting, while the NNPC lifted about 35.28 million barrels, or 35.28 per cent. Liftings by fiscal regime showed that the joint venture companies (JVCs) accounted for 31.64 million barrels; production sharing contract (PSC)/service contract (SC) operators, 26.04 million barrels, and other independent operators 4.63…
Multinational oil giant, Shell, has constantly lied about the amount and impact of the oil spilled at Bodo, Ogoniland, United Kingdom court documents obtained by Amnesty International has revealed. The documents also revealed that contrary to Shell’s official claim that the spill was caused by oil thieves and saboteurs, the oil firm knew for years that its pipelines in the Niger Delta were old and decrepit. In August 2008, a section of the Trans-Niger pipeline, controlled by Shell, broke, spilling thousands of barrels of oil into the surrounding villages, creeks and rivers. Shell claimed that the leak was not reported…