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Oil prices collapse as glut fear triggers heavy selling

Oil prices slumped Friday to lows not seen since last year as concerns over high crude supplies triggered massive selling, dealers said.   The WTI futures contract, the New York commodities markets’ benchmark, and its European counterpart Brent Crude both fell more than six percent on the day.   High global oil production compared

Oil price nears $80, Nigeria’s output rises

International oil benchmark, Brent crude, extended its gains on Wednesday, trading near a two-month high as shrinking oil inventories pointed to an increasingly tight global market. The upturn in oil prices come as the United States’ sanctions squeezed Iranian crude exports and after the US crude oil production in 2019 was

Brawl, gunshots at PDP HQ as Atiku submits nomination forms

olicemen and other security agents had a hectic time at the national headquarters of the Peoples Democratic Party in Abuja on Thursday when a presidential aspirant, Atiku Abubakar, submitted his presidential nomination and expression of interest forms to the party’s leadership. The forms are to enable him to take part in

Fines: CBN deducts N5.61bn from accounts of three banks

The Central Bank of Nigeria has debited the accounts of three banks to the tune of N5.61bn, being the total amount of fines it imposed on them last week for alleged illegal repatriation of funds. Last week, the regulator imposed N5.87bn fines on four banks for what it described as “flagrant

Stocks fall further, market cap drops by N111bn

The nation’s equities market extended its decline on Thursday as it shed N111bn following the price depreciation recorded by 31 stocks at the close of trading. The All-Share Index and market capitalisation of equities listed on the Nigerian Stock Exchange fell by 0.88 per cent to close at 34,110.22 basis points

millions Nigerians denied access to Internet – NCC

Coverage gaps in 200 communities across the country deprive more than 40 million people access to the Internet, the Nigerian Communications Commission has said. The Executive Vice Chairman at NCC, Prof Umar Danbatta, said this in Abuja on Monday at the annual International Telecommunications Union regional capacity building workshop hosted by

ITF has empowered 11,000 Small and Medium Enterprises across the nation.

The Director-General/Chief Executive of the Industrial Training Fund, Mr. Joseph Ari, and the Ilorin Office Manager, ITF, Mr. Simeon Ogbonna, have said that the ITF has empowered 11,000 Small and Medium Enterprises across the nation. This, they said, was achieved during the just concluded National Industrial Skills Development Programme. According to them,

Banks Raise Alarm Over Fake Job Recruitment Website

Commercial banks have raised the alarm over a fake employment website alleged to belong to them, deployed by fraudulent element with the intent to defrauding unsuspecting young graduates. The website posted a public post on Facebook, directing graduates to apply for jobs online. The involved commercial banks are Access Bank Plc, Fidelity