“Central Bank of Nigeria Restricts Foreign Oil Firms from Repatriating 100% FX Proceeds Instantaneously”The central bank announced that international oil companies are permitted to repatriate 50% of their proceeds initially, with the remaining half available for repatriation after a 90-day period.

The Central Bank of Nigeria (CBN) has implemented new regulations preventing international oil companies from transferring 100% of their foreign exchange proceeds to their parent companies overseas in a single transaction. Instead, the apex bank has directed that these companies can initially repatriate 50% of their proceeds, with the remaining half available for repatriation after […]

VP Osinbajo finally declares to run for president

Nigeria’s Vice President Yemi Osinbajo has finally declared to run for president, ending months of speculations and tepid denials.“I formally declare my intention to run for the office of the President, Federal Republic of Nigeria, on the platform of our great party, the All Progressives Congress,” Osinabjo said in a video posted to his social […]

Scores of terrorists dead as Boko Haram, ISWAP clash in Lake Chad

An infighting between the late Abubakar Shekau’s faction of Boko Haram and Islamic State of West African Province (ISWAP), has reportedly left scores of terrorists killed in the last three days. Zagazola Makama, a Counter Insurgency Expert and Security Analyst in the Lake Chad, gathered that the notorious leader of Boko Haram, Ali Ngulde, on […]