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Grid collapse: TCN in four-hour power restoration battle

Power generation on the national grid collapsed to as low as 10 megawatts on Wednesday afternoon, but rose to 4,123.8MW on Thursday morning after a four-hour intervention by the Transmission…

CBN to refund deposits to BDC promoters

Amarachi Orjiude, Abuja Published 29 July 2021 Sequel to the decision of the Central Bank of Nigeria to stop the licensing of Bureau de Change operators, the apex bank has…

Naira slumps to 523 against dollar at parallel market

The naira slumped further to 523/$ at the parallel market on Wednesday, a day after the Central Bank of Nigeria stopped the allocation of foreign exchange to Bureau de Change…

Power grid collapses again amid lack of backup capacity

‘Femi Asu and Ted Odogwu Published 29 July 2021 The national power grid has suffered another system collapse, worsening the blackout being experienced by households and businesses in parts of…

Poor oil investments’ll adversely affect Nigeria, OPEC warns

Investing poorly in the oil and gas industry will have a heavy adverse impact on Nigeria and other oil-producing developing nations, the Organisation of Petroleum Exporting Countries warned on Wednesday.…

Ex-Glencore trader paid bribes for Nigerian oil contracts – Report

A former Glencore Plc trader who said he was part of a bribery scheme to win oil contracts from Nigeria transferred $300,000 of company funds in 2014 to an intermediary…

Blackout hits homes, businesses as power grid collapses

‘Femi Asu and Ted Odogwu Published 28 July 2021 The national power grid has suffered another system collapse, worsening the blackout being experienced by households and businesses in parts of…

N30bn maize lost to insecurity in 2020, farmers claim

To mitigate attacks while cultivating crops on their farmlands, farmers have resolved to work in groups of 100, 200 or 300 persons, it was learnt on Tuesday. It was also…

Naira slides to 505/$ as CBN stops forex sale to BDCs

Nike Popoola, Amarachi Orjiude and Sami Olatunji Published 28 July 2021 The naira fell slightly to the dollar at the parallel market few hours after the Central Bank of Nigeria…

Osinbajo laments high post-harvest losses, blames poor storage, facilities

Vice President Yemi Osinbajo has expressed sadness over the rising cases of post-harvest losses of agricultural produce in Nigeria which he blamed on poor storage, poor rural infrastructure and non-automation…