SERAP Sues Buhari Over Failure to Stop Unlawful Data Access

By Adedapo Adesanya Energy stakeholders have urged African countries, including Nigeria, the continent’s largest crude producer, to reject all anti-fossil fuel policies that may arise at discussions at the 28th Conference of Parties (COP28) in Dubai, the United Arab Emirates (UAE). They called on African countries to fiercely defend the role oil and gas play across the continent, adding that it has become clear that developed nations seem committed to phasing out fossil fuels, advocating for an anti-fossil fuel energy transition that does not take into account the needs of the developing world. For instance, the African Energy Chamber (AEC)

By Adedapo Adesanya The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the regulatory framework for energy transition, decarbonisation, and carbon monetization for upstream operations in Nigeria. The Commission Chief Executive, Mr Gbenga Komolafe, unveiled the regulatory framework at COP28 in Dubai, the United Arab Emirates (UAE) themed Driving Sustainable Upstream Operations to Achieve Just and Equitable Energy Transition.  Mr Komolafe noted that the regulatory framework has Natural Gas shift, zero routine gas flaring and methane abatement, carbon market development, and upstream operations efficiency as its key pillars. Others include technology and innovation, incentive mechanisms, collaboration, and risk management. According

 By Adedapo Adesanya The Cross River Government has entered into a partnership with Oando Clean Energy on the provision of wind power in the state. Signing the Memorandum of Understanding (MoU) at the ongoing climate conference, known as COP28, in Dubai, Governor Bassey Otu of Cross River State said the collaboration signified the commitment of the state to spearhead the green economy, which he described as a significant milestone in his development objective for the state. Represented by the state Commissioner for Special Duties and Inter-Governmental Relations, Mr Oden Ewa, the Governor said the strategic deal with the energy company

By Adedapo Adesanya  PricewaterhouseCooper (PwC) Nigeria has commended the country’s move towards fixing its copious electricity challenges with the Electricity Act 2023 and proposed key amendments that will ensure the issues are faced head-on, At the 14th edition of its Annual Power and Utilities Roundtable, with the theme The Electricity Act 2023: Powering Nigeria, the Partner and Energy, Utilities and Resources Leader at PwC Nigeria, Mr Pedro Omontuemhen, noted that, “The 2023 power roundtable’s timing coincides with the ongoing COP 28 in Dubai, highlighting the urgent need for continued action on climate change especially in the area of renewable energy.”

By Modupe Gbadeyanka The Nigerian stock market suffered its first loss in eight days after it closed in the red zone on Monday, recording a decline of N41 billion. Business Post correspondent reports that a total of 27 equities depreciated in price against 16 stocks that went up and 14 equities that stayed flat. Seplat, Forte Oil, MRS, Unilever and ETI emerged the top five losers at the close of trading on the floor of the Nigerian Stock Exchange (NSE) today. While Seplat shed N20 to close at N390 per share, Forte Oil declined by N11.33k to finish at N104.91k

By Dipo Olowookere The federal government has increased the pump price of premium motor spirit (PMS) commonly called petrol to N212.61 per litre. This announcement was made on Thursday night by the Petroleum Products Pricing Regulatory Agency (PPPRA), an organisation established by the government to control the price of petroleum products in the country. Before now, there had been rumours that the government was planning to hike the price of the commodity and this brought about the reemergence of queues at petrol stations in some parts of Abuja and Lagos. However, the government refuted the rumours and consumers were assured

By Modupe Olowookere The Nigeria Police Force has deployed officers to praying grounds across the country to forestall any breakdown of law and order during the Eid el-Kabir celebration next week. The Federal Government has declared Monday and Tuesday next week for the Muslims’ celebration. Business Post learnt security operatives, both plain and uniformed have been deployed to man some strategic locations and soft spots that could be used by terrorists and hoodlums to carry out their activities. This week, the police and the DSS advised the Independent National Electoral Commission (INEC) to postpone the governorship election in Edo State

By Modupe Gbadeyanka Three new appointments have been announced by Zenith Bank Plc and are waiting the approval of Central Bank of Nigeria (CBN). The three appointees are Ms Adaora Umeoji, Mr Ebenezer Onyeagwu and Mr Ahmed Umar Shuaib. While Ms Umeoji and Mr Onyeagwu were appointed as new Deputy Managing Directors (pending CBN’s nod), Mr Shuaib was named an Executive Director of the bank. Group Managing Director of Zenith Bank Plc, Mr Peter Amangbo, in a statement, said at the “meeting of the board of directors of Bank held on October 19, 2016 2016, Ms Adaora Umeoji (Executive Director)

By Agusto & Co Prior to the emergence of core payday lenders in the country, commercial banks dominated the financial services sector, providing loan facilities and savings to corporate clients and to a significantly lesser extent, retail customers. Retail financial services offered were primarily tailored to the upper tiers of the country’s income categories, focusing on high net worth individuals and high earning employees of prominent organisations in the country. Although alternative lenders such as community banks and credit unions existed, these organisations were often left to operate in the periphery due to the dominance of commercial (and merchant) banks.

By Modupe Gbadeyanka The inaugural Writing Challenge organised by a leading Banking as a Service (BaaS) enabler, OnePipe, has produced three winners, who will receive N1 million each for their efforts. The top three finalists of the competition were Daniel Adeyemi of TechCabal, Omobayo Azeez of Business Metrics Nigeria and Sultan Quadri of TechCabal. Earlier this year, the OnePipe Writing Challenge called for entries from journalists in Nigeria and they were required to focus on raising awareness of embedded finance in 400 to 500-word articles for assessment. One of the winners, Mr Omobayo Azeez, said, “I am delighted to have

By Adedapo Adesanya The Information Systems Audit and Control Association (ISACA) has warned Nigerians working from the comfort of their homes to be wary of possible cyberattacks, which are rampant at vulnerable periods. According to Director, Research and Marketing of ISACA, Abuja Chapter, Mr Ime Udoko, there are increased threats of attacks to people who have adopted the Remote Work Model (RWM) Mr Udoko said on Wednesday that the COVID-19 pandemic has encouraged the use of RWM by businesses and institutions, but warned that if precautionary measures were not taken, they can be easily attacked by cyber criminals. “The RWM