NNPC

Boko Haram kidnaps 10 researchers, kills soldiers in Nigeria

Kano - Muslimchronicle

Gunmen believed to be Boko Haram militants killed at least 10 military personnel and kidnapped a similar number of university workers after an ambush in northeast Nigeria, colleagues and the state-run oil firm said on Wednesday. "About 10 staff from the survey and geological department of the University of Maiduguri were abducted on Tuesday," said Ndu Ughamadu of the NigerianRead more

Nigeria probes stashed money in former official's house

Abuja - ArabToday

Nigeria's Economic and Financial Crimes Commission (EFCC) has started to investigate the source of 9.8 million U.S. dollars secretly kept in the house of a former senior official of the national oil corporation, the anti-graft agency said Friday. Andrew Yakubu, former group managing director of the Nigerian National Petroleum Corporation (NNPC), has admitted ownership of the recovered money during interrogation,Read more

Nigeria probes stashed money in former official's house

Abuja - ArabToday

Oil prices tumble 3%

London - Arab Today

Oil prices tumbled more than 3 percent on Friday after OPEC said October output reached another record. Crude futures have wiped out gains made since the end of September when OPEC said it would agree to cut oil production to shore up persistently low prices. Adding to bearish sentiment was US rig count data by oil services company Baker Hugh,Read more

Nigeria lifts forex ban on nine banks

Lagos - AFP

The Central Bank of Nigeria (CBN) has lifted a suspension of nine banks from foreign exchange trading for failing to remit some oil money to the government, an official said Thursday. "The erring banks have been readmitted into the inter-bank foreign exchange market after they presented their plans to pay back the money," the CBN official told AFP. The CBNRead more

Fuel scarcity bites harder in Nigeria

Lagos - Arab Today

Nigerians have been crying out over non-availability of petrol at filling stations in the a country as well as the prohibitive cost of the product at black markets. The scarcity of petrol got worse in many parts of the country despite assurances by the Nigerian National Petroleum Corporation (NNPC) that the situation would improve. The fuel scarcity has lingered forRead more