Connect with us


BIG STORY

Nigerian Government Signs MoU To Import Fuel From Niger Republic

Published

on

The Nigerian government, through the ministry of petroleum resources, has signed a memorandum of understanding with the government of the Niger Republic for petroleum products importation.

According to a statement released by the ministry, Soraz Refinery in Zinder, Niger Republic, has an installed refining capacity of 20,000 barrels per day compared to the nation’s 5,000bpd domestic requirement.

This leaves a surplus of 15,000 barrels per day.

Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC), signed the MoU on behalf of Nigeria while Alio Toune, director-general of Niger Republic’s National Oil Company, Societe Nigerienne De Petrole (SONIDEP), signed on behalf of his country.

The signing was witnessed by the ministers of state for petroleum of the two countries, Timipre Sylva for Nigeria and Foumakoye Gado for the Niger Republic.

“This is a major step forward. The Niger Republic has some excess products which need to be evacuated. Nigeria has the market for these products. Therefore, this is going to be a win-win relationship for both countries,” Sylva said.

“My hope is that this is going to be the beginning of deepening trade relations between the Niger Republic and Nigeria.”

In his remarks, Kyari said the two countries have had long engagements in the last four to five months with a view to restoring the importation of petroleum products (excess production) from Niger into Nigeria.

“With this development, we hope to have a long-lasting and sustainable commercial framework to have a pipeline from the Soraz Refinery in Zinder (Niger) into the most proximate Nigerian city so that we can develop a depot.

“We are happy that we have reached that conclusion and our two ministers have endorsed this framework. We are also working on a detailed MoU between our two companies so that we can continue the execution process immediately.”

Nigeria currently imports refined petroleum products despite having four refineries. As a result, scarce forex is spent to ensure that there is no scarcity in the country.

Government officials have expressed hopes that the 350,000 capacity Dangote refinery being constructed will end the era of petroleum products importation in Nigeria.

BIG STORY

NOVA Bank Achieves Global Cybersecurity Milestone With ISO 27032 Certification

Published

on

NOVA Bank has achieved a major milestone in its commitment to safeguarding customer data and digital operations by attaining the globally recognized ISO 27032 Cybersecurity Standard certification. This significant achievement positions NOVA Bank among the elite financial institutions in Nigeria with such a distinction.

The ISO 27032 certification focuses on fortifying cybersecurity measures, ensuring robust protection for data, systems, and online transactions amid an ever-evolving cyber threat landscape. In addition to this achievement, NOVA Bank is already certified in ISO 27001 for Information Security Management and BCMS 22301 for Business Continuity Management, further underscoring its dedication to operational excellence and security.

Speaking on the achievement, Acting Managing Director and CEO of NOVA Bank, Mrs. Chinwe Iloghalu, described the certification as a pivotal moment for the Bank and its customers.

“This certification underscores NOVA Bank’s unwavering dedication to maintaining the highest global standards in cybersecurity. As we continue to innovate with customer-centric retail products, cybersecurity remains at the heart of our operations. Our customers can rest assured that their data and transactions are protected by some of the most advanced security frameworks in the industry. Trust is built on security, and NOVA is committed to providing a secure, reliable, and innovative banking experience,” Mrs Iloghalu stated. The Bank’s Executive Director for Operations and Information Technology, Dr. David Isavwe, who also serves as the President and Chairman of the Board of Trustees for the Information Security Society of Africa, Nigeria (ISSAN), emphasized the broader implications of the certification.

“The ISO 27032 certification highlights NOVA Bank’s proactive approach to addressing cybersecurity challenges. It demonstrates our readiness to protect against evolving threats and our ability to adapt to the dynamic landscape of digital banking. This certification reinforces our commitment to delivering secure and uninterrupted services to our valued customers,” Dr. Isavwe remarked.

This milestone aligns with NOVA Bank’s overarching strategy of integrating cutting-edge technology with its trademarked Phygital model—seamlessly blending physical and digital banking experiences, while maintaining an unwavering focus on customer trust and satisfaction.

As the bank prepares to launch a series of innovative retail banking products, this certification highlights its dedication to prioritizing cybersecurity, ensuring a secure and seamless banking experience for all its customers.

Continue Reading

BIG STORY

JUST IN: Customs Hands Over 21 Stolen Vehicles To Canadian Government

Published

on

The Nigerian Customs Service (NCS) has transferred 21 stolen “Sport Utility Vehicles” (SUVs) and other assorted vehicles to the Canadian Government, following their recovery from various locations across the country.

 

More to come…

Continue Reading

BIG STORY

Former Kogi Governor Yahaya Bello Now In Our Custody — EFCC

Published

on

The Economic and Financial Crimes Commission (EFCC) has revealed that former Kogi State governor, Yahaya Bello, has been detained in the agency’s custody for allegedly misappropriating over N110 billion in public funds.

The EFCC stated that the former governor appeared at its headquarters after months of ignoring invitations and avoiding court summons related to fraud connected to his administration.

EFCC spokesperson, Dele Oyewale, on Tuesday said that Bello had been detained and would be questioned about the allegations against him.

According to reports, Bello responded to the EFCC’s invitation on Tuesday, arriving at the EFCC office with his lawyers, but without his successor, Governor Usman Ododo, who had reportedly been shielding him from arrest.

Continue Reading



 

Join Us On Facebook

Most Popular