First results from COVID-19 drug trials ready within next two weeks – WHO

  The World Health Organization expects initial results from clinical trials it is conducting of drugs that might be effective in treating COVID-19 patients, within next two weeks. WHO Director General Tedros Adhanom Ghebreyesus told a news briefing on Friday just as Mike Ryan, head of the WHO’s emergencies programme, said it would be unwise to predict when a COVID-19 vaccine could be ready for mass distribution. While a vaccine candidate might show its effectiveness by year’s end, the question was how soon it could be mass produced, he told…

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Nigeria’s Central Bank pulls N188bn depositors’ money from 14 commercial banks + Full List

  The apex bank in Nigeria, Africa’s biggest crude oil exporter, Central Bank of Nigeria (CBN), has debited 14 banks in the country  to the tune of N118billion in line with its Cash Reserve Ratio (CRR) compliance requirement. These banks Pla6forms Africa gathered are: Access Bank Plc: N3 billion Guaranty Trust Bank Plc: N15 billion First Bank of Nigeria Ltd: N12.4 billion Ecobank Nigeria: N7 billion Sterling Bank Plc: N5 billion Fidelity Bank Plc: N11 billion Union Bank of Nigeria Plc: N12.5 billion First City Monument Bank Ltd: N10 billion…

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Lagos Embargoes Boarding Schooling, Fixes August 3 for SSS 3, TEC3 Pupils’ Resumption

The State Government of Lagos, Nigeria’s commercial capital, has announced August 3 resumption date for pupils in “transitional classes,” but stated that all resuming pupils must be coming from home as there would not be boarding schooling for now. The State Governor, Babajide Sanwo-Olu, who made the disclosure in a televised press briefing monitored by Platforms Africa on Friday, July 3, however, noted that students in Senior Secondary School three and Technical Study three would resume first on the said August 3, 2020. Sanwo-Olu stated that the resumption date for…

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Polaris Bank, Pan Ocean’s feud over N240bn loan degenerates + AMCON’s OML 147 takeover

  The feud between Polaris Bank-led consortium of lenders and Pan Ocean group over N240 billion loan has degenerated with Asset Management Corporation of Nigeria (AMCON’s) takeover of Pan Ocean Oil Gas company with all its assets inclusing Oil Mining Lease (OML) 147. Pan Ocean had accessed funding for the project from the consortium of banks led by Polaris Bank Limited (Former Skye Bank Plc) for the development and production on Oil Mining Lease (OML) 147, which came from OPL 275 in 2014. OML 147 is expected to attain peak…

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Raising Finance to Acquire A Marginal Field? Key Issues to Consider – FBNQuest

On the 1st of June 2020, the Federal Government of Nigeria (“FGN”) via the Department of Petroleum Resources (“DPR”) formally announced the commencement of the long-awaited marginal field bid round. According to the guidelines published by the DPR, a marginal field is defined as a field that has been discovered and left unattended for a period of not less than 10 years from the date of first discovery or such field as the President may from time to time, identify as a marginal field. The first marginal field bid process…

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AKK: Oando Underscores Public-Private Partnership for Nigeria’s goal actualisation

  Group Chief Executive, Oando Plc, one of the Partner-contractors on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project, Jubril Adewale Tinubu, joined other Executives to attend Presidential Flag Off Ceremony of the project, where he underscored Public Private Partnership in accelerating the actualization of the Nigeria’s goals. The company is a partner in a two party consortium consisting of Oilserv Limited and Oando PLC (Oilserv-Oando PLC consortium) handling the Engineering, Procurement, and Construction (EPC) mandate for segment 1, accounting for 40” by 303.4km linear pipeline system for the Ajaokuta to Kaduna…

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172 Nigerian evacuees from Kenya, Uganda test for COVID-19

  The Nigerians in Diaspora Commission says 172 Nigerian evacuated from Uganda and Kenya have been subjected to COVID-19 test. They arrived at the Nnamdi Azikiwe International Airport, Abuja at about 10:20am local time on Wednesday. The commission disclosed this in a statement by Gabriel Odu of its Media, Public Relations and Protocol Unit. Odu said the evacuees arrived via Air Peace Flight B777-200 from Nairobi, the Kenyan capital. According to him, some of the evacuees disembarked at the airport in Abuja, while others proceeded to the Murtala Muhammed International…

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Another Nigerian Governor, Okowa, wife test positive for COVID-19

  Governor of oil-rich Delta state in Nigeria, Ifeanyi Okowa has tested positive for COVID-19 less than 24 hours after his counterpart in Ondo state, Rotimi Akeredolu, announced he had contracted the viral infection. Okowa’s wife, Dame Edith Okowa also tested positive. His daughter had earlier tested positive. The governor announced this on his verified Facebook Page on Wednesday. “My wife and I have tested positive for COVID-19. We are well and continuing with our isolation/medication. We thank you all for your continued prayers for us and our daughter,” he…

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BBNaija: Why Diane walked out on Ebuka, Elozonam during reunion show + handsome actor Gavor’s conncetion

  Detailed reason beautiful housemate in the 2019 Big Brother Naija (BBNaija), Diane, walked out on host, Ebuka and her mate, Elozonam during a reunion show. During the BBNaija 2019 show, Diane, one of the female housemates, Diane, had the heart of a lot of guys Later in the show, Diane got along fine with Elozonam and fans were also rooting for them During the reunion show, Elozonam revealed Diane treated him like an option and hinted that there was someone she was more interested in than him. Ebuka mentioned…

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Nigeria’s labour union Threatens War over Banks, Power charges hike

  The Nigeria Labour Congress (NLC) has threatened a war over attempt by either public or private enterprises in the Africa’s biggest crude oil exporter to hike user access and service charges under the guise of economic downturn occasioned by the COVID-19 pandemic. President of NLC, Comrade Ayuba Wabba, who, in a statement made available to Platforms Africa, vowed that all labour unions would resist the move, noted that Nigerians were already passing through a chain of very hard times, said they were entitled to fair, equitable and just utility…

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