Category: Business

The CBN has issued revised guidelines on IMTOs, setting a $1m minimum share capital for operators.

The post Dollar Falls In Parallel Market To N1350/$, Official Rate At NAFEX Window Holds At N1,461 appeared first on Arise News.

FORT SMITH, N.W.T. — Rescuers parachuted into the scene of a deadly plane crash near a remote community in Canada’s

Rights group, Amnesty International has called on the President Bola Tinubu-led government to ensure that the planned sale of Shell’s Onshore Subsidiary does not violate human rights.

Making this call in an extensive report released in a post released on its official X handle, the group tasked Tinubu to ensure that the sale does not lead to further deterioration in human rights in the South-South region that has over the years been blighted by decades of oil pollution.

“The Nigerian authorities must ensure that Shell’s planned sale of its operations in the Niger Delta, does not lead to a further deterioration in human rights in a region blighted by decades of oil pollution,” the post by Amnesty International read.

The right group lamented that “For decades, spills have damaged the health and livelihoods of many of the Niger Delta’s inhabitants. Shell should not be allowed to wash its hands of the problems and leave.”

Naija News recalls that the group had, in the build-up to the presidential swearing-in ceremony, called on President Tinubu to ensure that the sale of shells does not result in human rights violations.

The group at the time tasked the president to ensure that  Shell’s sale does not end or limit the company’s liabilities.

The group further advised that Shell be required to provide a full assessment of all existing pollution in the delta, ensure it has provided satisfactory remediation for any damage, and that local inhabitants’ concerns about the sale process are fully appraised and addressed before the planned sale is approved.

Naija News recalls that Shell had earlier in January announced that it reached an agreement to sell its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance as it exits its oil exploration in Nigeria.

The post Amnesty International Tells Tinubu To Ensure That Sale Of Shell’s Onshore Subsidiary Does Not Violate Human Rights appeared first on Naija News.

Soneye said the loan is a short to mid-term solution to Nigeria’s foreign exchange challenge.

The post NNPC Explains Intervention In Nigeria’s FX Crisis With $3.3bn Crude Repayment Loan From Afreximbank appeared first on Arise News.