Author: Vardiafrica

Vice President Kashim Shettima has left Abuja for Abidjan, Côte d’Ivoire, to attend the opening of the International Exhibition of Extractive and Energy Resources 2024 (SIREXE). The event, scheduled from November 27 to December 2, 2024, will take place at the Abidjan Exhibition Centre. Shettima’s visit comes at the invitation of Côte d’Ivoire’s Vice Président, Tiémoko Meyliet Koné, according to a statement issued by the Senior Special Assistant to the Vice President on Media and Communication, Stanley Nkwocha, on Wednesday. The SIREXE conference is an international event organized by the Ivorian government, focusing on “Policies and Strategy for the Sustainable…

The Central Bank of Nigeria (CBN) has announced fresh guidelines for interbank foreign exchange (FX) trading via its Electronic Foreign Exchange Matching System (EFEMS), effective from November 25, 2024. The new directive, signed by Dr. Omolara Duke, Director of the Financial Markets Department, mandates a minimum trade value of $100,000 for all interbank FX transactions. This move is aimed at enhancing market transparency, ensuring efficient trading, and strengthening compliance within Nigeria’s FX market. EFEMS aims to streamline trading and reduce risks The newly issued guidelines are designed to streamline interbank FX trading and reduce counterparty risks. By using EFEMS, the…

Edo State Governor, Senator Monday Okpebholo has approved free bus services for the people of the State through the State-owned Edo City Transport Service (ECTS). The initiative is part of Governor Okpebholo administration’s drive to entrench his policy direction, “A NEW EDO HAS RISEN”. The free bus service which covers Benin metropolis and the three Senatorial districts of Edo State (Intra and Inter city routes), is part of the commitment of Governor Okpebholo to enhance the welfare of all Edo people. “The bus services will ease the transportation stress. Our people who plan to move around within the Benin metropolis…

Newly elected Ondo State Governor, Lucky Aiyedatiwa and his Deputy, Olayide Adelami presented their certificates of election to President Bola Ahmed Tinubu, at Presidential Villa Abuja on Tuesday. The APC National chairman Abdullahi Ganduje and Ekiti Governor Oyebanji witnessed the presentation, according to a statement by Special Adviser to the President Information & Strategy, Bayo Onanuga on Tuesday. Last week, the Independent National Electoral Commission presented a certificate of return to Aiyedatiwa and his deputy. Advertisement The ceremony which took place at the INEC headquarters in Abuja had in attendance the Ondo State governor-elect who is also the incumbent governor, his deputy,…

President Bola Tinubu has extended his heartfelt congratulations to the Nigeria National Petroleum Company Limited (NNPCL) on the successful revitalisation of the Port Harcourt refinery, marked by the official commencement of petroleum product loading on Tuesday A statement by Special Adviser to the President (Information & Strategy), Bayo Onanuga on Tuesday, said the president acknowledged the pivotal role of former President Muhammadu Buhari in initiating the comprehensive rehabilitation of all the country’s refineries. He also expressed gratitude to the African Export-Import Bank for its confidence in financing this critical project Furthermore, President Tinubu commends the leadership of NNPC Limited’s Group…

The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 27.50 per cent from 27.25 per cent as part of efforts to combat surging inflation.  This followed the meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). The monetary policy rate measures the benchmark interest rate. The CBN governor Yemi Cardoso announced this in Abuja on Tuesday during the last MPC meeting of the year at the apex bank’s headquarters. Cardoso said the MPC voted unanimously to raise the MPR by 25 basis points from 27.25% to 27.50%; and retain the…

The immediate past Governor of Kogi State, Yahaya Bello, has again honoured the invitation of the Economic and Financial Crimes Commission, EFCC, over alleged misappropriation of funds. Bello went to the anti-graft agency’s office with his lawyers on Tuesday morning. This followed the Supreme Court judgment which dismissed the suit filed by the states to challenge the constitutionality of the anti-graft agency. The former governor drove himself in a black Toyota Hilux to the EFCC office with his lawyers. At the last hearing on November 14, the EFCC had sought for adjournment till November 27 in the fresh case it…

Like the Senate, the House of Representatives has invoked the provision of paragraph 17 (3), Part 1, fifth schedule to the constitution for the removal from the Office of the Chairman of the Code of Conduct Tribunal, FCT, Umar Danladi.  Hon. Julius ihonvbere who moved the motion drew strength from paragraph 17 (3), PT 1, Fifth Schedule of the Constitution and section 22(3) of the Code of Conduct Bureau and Tribunal Act Cap , that the President is mandated to act on an address supported by a two-thirds majority of the Senate and House of Representatives for the removal of…

The state-owned Port Harcourt Refinery has officially started producing petroleum products. This development was announced by Olufemi Soneye, the spokesperson for the Nigerian National Petroleum Corporation (NNPC) Limited, on Tuesday. Soneye also confirmed that truck loading operations would commence today. In his statement, Soneye added that efforts are underway to bring the Warri Refinery back into operation. “Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation.

A federal judge has dismissed a major case against Donald Trump that alleged he illegally sought to overturn the 2020 election. Jack Smith, the special prosecutor who brought the criminal case against Trump, had asked to have the charges dropped, citing a Justice Department policy that bans the prosecution of a sitting president. Judge Tanya Chutkan dismissed the case “without prejudice”, meaning the charges could be refiled after Trump finishes his second term. Smith has also asked to have his case charging Trump with improperly storing classified documents dismissed. Trump had pleaded not guilty in both cases “It has long…