Author: Chronicle Editor

The Ministry of Petroleum Resources has called for nominations for the 2017 Oil and Gas Industry Awards as it seeks to reward players in the industry. The Ministry says it will be recognizing industry players and partners for exceptional and outstanding performance in 2017. In an email by State Minister of Petroleum, Dr Ibe Kachikwu, the Ministry is driving this initiative with an independent consultant (KPMG), supported by an Advisory/Evaluation Council consisting of Senior Professionals drawn from the industry, academia, media and professional bodies. READ: Switzerland to return $321m loot stolen by Abacha Kachikwu noted that the Team will help…

Nigeria has signed a Memorandum of understanding (MOU) with Switzerland for the return of $321 million in looted funds to Nigeria. Nigeria’s minister of justice and attorney general, Mr Abubakar Malami, signed the MOU with Swiss authorities on Monday in Zurich. He expressed gratitude for the international support Nigeria was getting in the fight against corruption. Global collaboration, he said was critical to the success of the fight. “We will continue to work to deepen mechanisms not just for asset recovery but for preventing corruption in the first place.” He explained that Nigeria was one of the four countries being…

Guaranty Trust Bank plc has been recognized as the 2017 ‘Bank of the Year Nigeria’ at The Banker Awards which held in London, United Kingdom. The Banker, a publication of the Financial Times, is the world’s leading monthly journal of records for the banking Industry, with over 90 years expertise in publishing development in the banking industry both Africa and on the global scale. The Banker Awards is regarded as the industry standard for banking excellence, recognizing and celebrating the achievements of individuals and financial institutions within the global banking sector. According to Brian Caplen, Editor of The Banker Magazine:…

The Inspector General of Police, Ibrahim Idris has bowed to the demands by Nigerians to have a rethinking on the operations of the SARS, the Special Anti-Robbery Squad. In a rare campaign on Twitter on Sunday, Nigerians launched the hashtag #EndSARS, in which they asked that the police unit be scrapped. Tweets after tweets gave mind blowing accounts of the atrocities committed by policemen on the SARS teams nationwide. Though the campaigners wanted the unit, which fights bandits, disbanded, the police boss said he has ordered an immediate reform, arguing that the unit has done well, on its core mandate,…

Nigeria’s central bank on Monday weakened the naira marginally, selling dollars at 307 naira each for the first time on the official interbank market, in what traders say could signal a gradual move to merge its multiple exchange rates. Nigeria’s convoluted exchange rate system has been used to manage what the central bank described as “frivolous” demand for dollars at the peak of a currency crisis which began two years ago. The West African country now has at least five exchange rate including the official one which the bank used to mask pressure on the currency. In April it allowed…

The Nigerian National Petroleum Corporation (NNPC) has reiterated that there is no plan to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming yuletide. The Corporation re-emphasised this in a statement signed by Mr Ndu Ughamadu, Group General Manager Group Public Affairs Division, in Abuja, on Monday It said that the ex-depot petrol price of N133.38 per litre and the pump price of N143/N145 per litre had not changed. It noted that the Corporation had enough stock of fuel to ensure seamless supply and distribution of products across the country. READ:…

The National Union of Road Transport Workers (NURTW) says it has banned sales of alcoholic drinks in all motor parks in Lagos State ahead of the festive period. Mr Tajudeen Agbede, the Lagos State Chairman of NURTW, made this known on Monday in an interview with the News Agency of Nigeria (NAN). Agbede said that the union has set up a task force to enforce the ban in various motor parks across the state. “We don’t want to experience any form of accident on the highways as a result of alcoholic drinks during the festive period. “We have four units…

Nigeria’s Landmark hotel, Transcorp Hilton Abuja, has emerged the winner of two 2017 World Luxury Hotel Awards in the Best Luxury Contemporary Hotel (Nigeria) and Best Luxury City Hotel (West & Central Africa) categories. The multiple award-winning five-star hotel was honoured with the prestigious award at a spectacular Gala Ceremony hosted by the historical Kulm Hotel St. Moritz in Switzerland on Saturday 2 December 2017. Awards on the night were bestowed on luxury properties that excelled within their service delivery areas on a country, regional, continent or global level. World Luxury Hotel Awards is the pinnacle of recognition achievable by…

Watford manager Marco Silva says Everton boss Sam Allardyce’s comparison of the pair’s track record “does not make sense”. Everton failed in an approach for Silva before appointing the ex-England boss. Allardyce, 63, said Silva’s record had no comparison with his as “he got Hull City relegated last season”. “Go and see what he [Allardyce] was doing when he was 40 years old, or see what he was doing in his first seven seasons as a coach” said Silva. “Then look at what I am doing at the same age – or you can wait until I am 63 years…

bruyne Nobody will care about Manchester City’s club-record 20-match winning run if they fail to pick up any trophies this season, says Kevin de Bruyne. City have won 14 of 15 Premier League this season, drawing the other, and all five Champions League group games. They lead Manchester United by eight points in the league and play away at Old Trafford on Sunday. De Bruyne said: “If we don’t win anything, are you going to talk about 20 wins? Nobody will care about it.” A late David Silva goal completed a 2-1 victory over West Ham on Sunday and if…