To encourage and fast-track the establishment of modular refineries in the country, the Department of Petroleum Resources, DPR, has slashed by 50 per cent the licensing fee. Participants are to pay half a million dollars as against the initial $1 million.

The National Insurance Commission (NAICOM) has dissolved the board of International Energy Insurance Plc. In its place, a three-member interim board has been appointed to oversee the affairs of the company while necessary investigation is being conducted. As part of this intervention, the Chief Executive Officer and some key officers will proceed on leave to pave way for a thorough investigation of the affairs of the company.

Goldlink Insurance Plc has sponsored the Certification Training and Examination in ISO 31000 Risk Management by the Global Institute of Risk Management Standard (G31000). President of Global Institute of Risk Management Standard headquartered in France, which is the global platform for ISO 31000, Alex Dali, was at the event to oversee the 3-day master class that had participants from Goldlink Insurance, Leadway Assurance, Renaissance Capital, First Bank of Nigeria, Sovereign Trust Insurance, International Energy Insurance and Calabar Microfinance Bank Limited in attendance.

The House of Representatives member-elect for Ojo Federal Constituency, Mr. Tajudeen Obasa, has described politicians defecting from Peoples Democratic Party, PDP, as commercial politicians.

The Minister of Finance, Dr Ngozi okonjo-Iweala, said it was strange for the Governors Forum to allege that 20 billion dollars were missing from the Excess Crude Account (ECA).