ALL THE RELEVANT NEWS: THURSDAY

14 Sep ALL THE RELEVANT NEWS: THURSDAY

🌎Nigerians were on Thursday morning thrown into darkness after the national grid system collapsed, but electricity was restored by 11am today. The system is operated by the Transmission Company of Nigeria (TCN) from Osogbo, Osun State.

🌎Oil rebounded on Thursday as expectations of a tighter global crude supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising U.S. inventories. Brent crude rose 83 cents, or 0.9%, to $92.71 a barrel by 0810 GMT.

🌎President Bola Tinubu has directed the Central Bank of Nigeria (CBN), to create a platform for quarterly reconciliatory meetings with foreign airlines, towards settling accumulated trapped funds. Minister of Aviation and Aerospace Development, Festus Keyamo, made this known on Wednesday, at the ongoing African Aviation Summit, which is being held in Abuja.

🌎The Central Bank of Nigeria (CBN) says it is not planning to introduce a new naira policy that will crash the dollar exchange rate to N1.25 kobo. On Wednesday, a report circulating online claimed that the apex bank is mulling a new FX policy. (5) As part of efforts to strengthen economic relations in Africa, the United States government has disclosed the Deputy Treasury Secretary, Wally Adeyemo, to visit Nigeria next week.

🌎Festus Keyamo, minister of aviation and aerospace development, says the federal government is ready to make Nigeria the aviation hub of Africa. Keyamo spoke on Wednesday at the seventh edition of the Aviation Africa Summit and Exhibition 2023 in Abuja. The minister said the current administration is ready to achieve the feat by tackling challenges in the aviation industry to attract foreign investors.

🌎On assumption of office, the Minister of Interior, Olubunmi Tunji-Ojo, promised to work towards having the NIMC in the ministry for proper coordination of identity data of Nigerians. This process is now being accelerated in line with President Bola Tinubu’s administration’s directive to remove all impediments and bottlenecks from obtaining passports.

🌎The Nigerian Upstream Petroleum Regulatory Commission has announced the outcome of the bidding exercise and issuance of letters of award to 42 companies/entities deemed successful in the keenly contested bid for 49 Flare Sites put forward during the 2022 Nigerian Gas Flare Commercialisation Programme auction process.

🌎Fidelity Bank Plc has announced the completion of the acquisition of a 100 per cent stake in Union Bank Plc UK. This was disclosed in a statement the bank sent to Nigeria Exchange Limited (NGX) on Wednesday.

🌎Security Stories: Gunmen on Wednesday abducted a pastor, Usman Umaru, and two other persons in the Maigemu community in the Jos East Local Government Area of Plateau State.
*The police in Delta State, South-south Nigeria, said they have arrested Sunday Yerakpo, a 35-year-old man, for being in possession of four locally-made rifles in the state. The police, in a separate operation the same day, rescued four kidnap victims in Orerokpe, a community in Okpe Local Government Area of the state.

🌎Russia-Ukraine War: North Korean leader Kim Jong Un and Russian counterpart Vladimir Putin met at a Russian space center Wednesday. US officials have warned Putin could use the summit to seek arms for his invasion of Ukraine. For his part, Putin signaled he could help Kim’s space programme.
*Ukrainian forces launched an extensive attack overnight on a ship repair facility in the Crimean port of Sevastopol, which is a major base for the Russian Black Sea fleet. Russian officials said at least 24 people were injured and two ships damaged.