Author: Vardiafrica

The Nigerian Content Development and Monitoring Board (NCDMB) and Shell Petroleum Development Company (SPDC), with its joint venture (JV) partners, on Thursday unveiled world-class engineering design studios and an information and communication technology (ICT) hub at the Federal University of Technology, Owerri (FUTO). The facilities were conceived and donated in furtherance of the Nigerian Content Human Capacity Development (HCD) programme which had focused lately on institutional strengthening, equipping universities and revamping select technical and vocational schools across the country, in a bid to develop competent technical manpower and craftsmen needed in the oil and gas industry and the linkage sectors.…

The Nigerian Content Development and Monitoring Board (NCDMB) on Tuesday at the Rivers State University, Port Harcourt, challenged the academia and industry to explore mutually beneficial initiatives that would enhance in-country value addition and minimise the incidence of capital flight. Speaking on the theme “The Power of Collaboration: Driving Innovation through Industry-Academia Partnerships,” at the first-ever Research Collaboration Meeting at the institution, attended by industry stakeholders from oil and gas, Manufacturers Association of Nigeria (MAN), Engineering and Technology faculty members, as well as the Nigerian Society of Engineers (NSE), the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, observed that…

The Nigerian Content Development and Monitoring Board (NCDMB) has signaled plans to support new research and development projects as part of its Technology Innovation and Incubation Strategy and the enduring commitment to catalyze innovation in the Nigerian oil and gas industry and linkage sectors. The new R&D projects will add to the 14 applied research projects NCDMB currently sponsors at various stages of technological readiness, one shining example being the Amal Technology, which manufactures gas leak detection devices and printed circuit board at Abuja. The Executive Secretary, NCDMB, Engr. Felix Omatsola Ogbe hinted this in the keynote address he delivered…

The Nigerian flying public is set to witness a rise in domestic airfares from one of Nigeria’s major airlines, Air Peace, effective November 1, 2024. Nairametrics gathered this information from a viral internal memo, purportedly from Air Peace, circulating on social media. A source, who is a senior staff of the airline and wished to remain anonymous confirmed this to Nairametrics. The source clarified that the memo was intended for private partners but was unintentionally leaked to the public. “Our intention was for the memo to remain strictly within our network of private partners, but it unfortunately leaked. Indeed, the…

The Head of Financial Crime Compliance at Binance, Tigran Gambaryan, has departed Nigeria days after the Federal government dropped money laundering charges against him. The world’s biggest cryptocurrency exchange made the disclosure pf his departure from Nigeria in a statement released on Thursday, October 24. “Today, American citizen Tigran Gambaryan left Nigeria to return home to his family after eight months of unlawful detention. “Gambaryan was allowed to leave Kuje prison last night. His health has suffered significantly while in prison. He will now be able to finally receive the medical attention he desperately requires,” the exchange said. LIB…

A bill seeking to make Sharia law not just a personal matter in the constitution has been rejected in the House of Representatives. The bill seeks to amend sections 24, 262 and 277 of the Constitution by removing “personal” in the application of Sharia law. The sponsor of the bill, Aliyu Missau, said commercial entities find it difficult to operate, noting that the constitution did not envisage entities like Jaiz and Taj banks. However, many lawmakers interpreted the move as an attempt to broaden the scope of Shariah law, which is often limited to marriage, inheritance and other personal issues.…

The Nigeria Civil Aviation Authority (NCAA) has reinforced regulations requiring airlines to compensate passengers for lost luggage, setting the compensation at N10,000 for domestic flights and $170 for international flights. Michael Achimugu, NCAA’s Director of Public Affairs and Consumer Protection, outlined the entitlements passengers can claim from airlines, during a press conference held in Abuja highlighting efforts to improve consumer rights awareness in the aviation sector. According to NCAA regulations, passengers affected by luggage delays are eligible for “first needs” compensation. This includes a payment of N10,000 for domestic flights and $170 for international flights while the airline conducts its search for…

Vice President Kashim Shettima has canceled his trip to the 2024 Commonwealth Heads of Government Summit (CHOGM) in Samoa due to an incident involving his plane at JFK Airport in New York. The presidency revealed in a statement on October 24, 2024, that a foreign object struck the vice president’s aircraft during a stopover, leading to the decision to abort the trip. President Bola Tinubu had initially delegated Shettima to represent Nigeria at the summit. The nature of the object or the extent of the impact on the aircraft remains unspecified, though the statement noted the cancellation was a precautionary…

The Central Bank of Nigeria has debunked reports claiming that the old series of N200, N500, and N1,000 banknotes will cease to exist as legal tender by December 31, 2024. In a statement released on Thursday by the acting Director of Corporate Communications, Sidi Hakama, the CBN noted that the order of the Supreme Court of Nigeria on Wednesday, November 29, 2023, to extend the use of old naira banknotes still holds indefinitely. “The attention of the Central Bank of Nigeria (CBN) has been drawn to discussions at different fora suggesting that the old series of the N200, N500, and…

As part of the cost-cutting measures of his administration, President Bola Tinubu has restricted ministers, and heads of departments and agencies to a maximum of three vehicles in their official convoys. “No additional vehicles will be assigned to them for movement,” presidential spokesman Bayo Onanuga said in a statement on Thursday. Tinubu also ordered all ministers, ministers of state, and heads of agencies to have at most five security personnel attached to them. “The security team will comprise four police officers and one Department of State Services (DSS) officer. “No additional security personnel will be assigned,” he said. The President instructed…