Turkey’s foremost oil refining company, Tupras, has ordered shipments of Nigerian crude oil for delivery in March and April, a development that could significantly bolster Nigeria’s export earnings as the country intensifies efforts to fund its 2025 budget through increased oil sales. According to shipping intelligence sourced from global commodities tracking firm Kpler, while the
Turkey’s largest oil refiner, Tupras, has placed orders for crude oil cargoes from Nigeria for delivery in March and April 2025, according to shipping data from Kpler. This move is part of Tupras’ diversified crude sourcing strategy amid shifting global oil markets and follows the company’s recent resumption of Russian Urals crude purchases after a
African businesses are grappling with a sharp rise in cyber threats, as new data from Kaspersky reveals a 14% increase in spyware attacks across the continent between 2023 and 2024. The findings, presented at the GITEX Africa conference in Morocco, highlight a worrying trend of escalating digital risks, with spyware malicious software secretly installed to
Universal Insurance Plc has settled a total of N3 billion in claims to policyholders who experienced losses during the 2024 operating year. The claims, which were made between January and December 2024, highlight the company’s dedication to supporting its customers despite the challenging business environment. In a recent statement, Dr. Jeff Duru, the Managing Director/CEO
The House of Representatives has ordered leading financial technology firm, SystemSpecs Ltd—owners of the Remita platform—to remit a total of N182.77 billion back to the coffers of the Federal Government. This directive followed revelations from a forensic audit that exposed significant discrepancies in the handling of funds within the Treasury Single Account (TSA) since 2015.
The recently appointed Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mr. Bayo Ojulari, has reaffirmed his unwavering commitment to delivering on the company’s strategic national mandates through purposeful collaboration with key stakeholders in the oil and gas sector. Ojulari gave this assurance on Wednesday during a courtesy visit to
The National Association of Government Approved Freight Forwarders (NAGAFF) has called on its members to demonstrate stronger accountability and increase investment in Nigeria’s maritime industry, describing it as a critical pathway to the nation’s economic growth and service delivery within the logistics ecosystem. This charge was delivered by NAGAFF President, Chief Tochukwu Ezisi, during the
The Nigerian Customs Service, Area 2 Command, based in Onne, Rivers State, reported a revenue generation of over ₦190 billion in the first quarter of 2025. The command also announced the interception of 20 containers containing illegal goods, with an estimated value of ₦10.2 billion. The revelation was made by Comptroller Mohammed Babandede, the Customs
The Economic and Financial Crimes Commission (EFCC) has assured individuals who invested in the troubled CBEX digital trading platform that they will receive full refunds. The anti-graft agency confirmed it had already initiated a probe into the platform before the recent surge in public outcry. The CBEX platform, which promised investors a 100% return on
The cycle of financial heartbreak continues as Nigeria grapples with yet another Ponzi scheme collapse, with digital asset platform CBEX joining a notorious list of fraudulent ventures that have drained billions from desperate investors. The latest casualty, CBEX, allegedly vanished with over ₦1.3 trillion after halting withdrawals in April 2025, leaving victims many of whom
