CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
Nigeria loses $1.5bn to foreign seafarers – NIMASA boss
THE dearth of skilled personnel to man vessels operating in the country has cost the nation about $1.5 billion as wages paid to foreign seafarers, mainly Filipinos, operating in the country.
Exxonmobil signs $190 million MoU with Acergy
MOBIL Producing Nigeria (MPN) a subsidiary of Exxonmobil and one of the major upstream operators in the Nigerian oil and gas industry has signed a memorandum of understanding (MOU) with Acergy, an oil serving firm for the revamping of three of its well-heads platforms offshore Nigeria in water depths of about 35 meters.
The contract which is valued at about 190 million dollars is said to also include an option exercisable by MPN for up to five further platforms
No rigs operating onshore Nigeria
INVESTIGATIONS have confirmed that there are no rig operating onshore Nigeria at the moment, while only 20 are operating offshore, underscoring a steep decline compared to same period last year when more rigs were operational.
Petroleum industry bill: Let’s get on with it
ATTENDING the offshore technology conference in Houston a couple of weeks ago, I made it a point of duty to participate in all sessions that had anything to do with Nigeria. The experiences were worth every single moment, and besides the truly great liaisons I made, one of the highlights of the trip was the […]
Nigeria’s Industrial sector is collapsing – Okolo
On October 29, 2008, Dr. Simon Chukwuemeka Okolo MFR, was elected and inaugurated the 48th national president of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA). This made him the leader of the Organized Private Sector (OPS) made up of NACCIMA, MAN and NECA. In this interview he speaks on the need […]
