Day: August 10, 2020

It’s Official, Nigeria devalues Naira, currency now N380 to $1

Tim Bauer

Nigeria, Africa’s biggest crude oil exporter, has officially devalued its currency, Naira, against the dollars. The country’s apex bank, Central Bank of Nigeria (CBN), which announced the devaluation of the official exchange rate for the second time this year, sank Naira value by N20. Information on the website of the central bank reveals the CBN adjusted the official exchange rate to N380/$1 from N360.1/$1. The adjustment occurred on Thursday August 6th 2020. This suggest the CBN may have unified the exchange rate in line with the promise made by Godwin Emefiele, the…

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Resignation spree rocks MRS Oil managment as MD, Director exit same day

Precious Ibekwe

  The Managing Director of MRS Oil Nigeria Plc, Mrs Priscilla Thorpe-Monclus, and Director, Mr Christopher Okorie have resigned appointment with Company, effective August 5, 2020. The Oil marketing giant, which confirmed the resignation of Thorpe-Monclus with effect from August 5, 2020, said that it had subsequently appointed Mr Marco Storari as the Managing Director in an acting capacity. The oil firm also announced the resignation of Mr Christopher Okorie, one of its directors, also with effect from August 5, 2020. The disclosure was made in a notification by the…

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What Laing, ExxonMobil Nigeria new CEO said about firm’s rumoured Exit plan one year ago

Efe Wellington

  The United States super Oil major, ExxonMobil, has announced the appointment of Richard Laing, as the new Chairman and Managing Director of its 3 affiliate firms in Nigeria with effect from August 1, 2020. Laing, before his new role announced in a statement by the Manager Media and Communications, ExxonMobil, Mr. Ogechukwu Udeagha, on Saturday, August 8, 2020, in Eket, Akwa Ibom State, has a view on the rumoured exit plan by the company from Nigeria. On April 2019, the new helmsman who was then the Executive Director and…

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Mourn or Mock: Obasanjo’s letter on late Political ally, Kashamu, sets tongues wagging

Damilola Olonade

A letter written by former President of Nigeria, Olusegun Obasanjo, on his former political ally who reportedly died of COVID-19, Buruji Kashamu, has set the social media on fire figuratively with a lot of people from other countries in Africa asking questions on whether the letter was to condemn the deceased or to condole with his family. The late Kashamu was Ogun State former Governorship candidate of the People’s Democratic Party (PDP), same party through which Obasanjo ruled Nigeria for eight years. In a message entitled, ‘Letter of condolence,’ addressed…

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