The Nigerian National Petroleum Company (NNPC) Limited says it will complete test runs at the Port Harcourt refinery this month.

Femi Soneye, NNPC’s spokesperson, in an interview with Reuters on Thursday, said testing will be concluded soon.

“Testing will conclude shortly, ensuring the refinery’s efficient operation. That phase will be completed this month,” he said.

The Port Harcourt refinery, which was shut in 2019, is among the state-owned refineries that have remained moribund for years.

The federal government, in March 2021, approved the sum of $1.5 billion for the rehabilitation of the plant.

In December 2023, the NNPC said it completed the mechanical phase of the turnaround maintenance at the Port Harcourt refinery.

Speaking on the timeframe of operations, Heineken Lokpobiri, minister of state for petroleum resources (oil), said production would commence after phase one of the rehabilitation of the refinery is completed.

“This is just to announce to Nigerians that in fulfilment of our pledge to bring on stream phase 1 of the PH refinery by the end of 2023 and the subsequent streaming of phase 2 in 2024, we heartily announce the mechanical completion and flare up of the refinery on the 20th of December 2023,” he had said.

Lokpobiri, in August 2023, had said the Warri refinery would also come on stream by the end of the first quarter (Q1) of this year, promising that Kaduna refinery will also come on board towards the end of 2024.

The Central Bank of Nigeria (CBN) has approved the launch of the Nigerian naira (cNGN) stablecoin.

The cNGN, which will be launched on February 27, 2024, is powered by the Africa Stablecoin Consortium (ASC), a consortium of Nigerian financial institutions, fintechs, and blockchain experts.

Stablecoins are cryptocurrencies specifically designed to maintain a constant value. They are often pegged or tied to another currency, commodity or financial instrument.

In a statement on its website on Thursday, the ASC said the cNGN stablecoin has met the regulatory standards and requirements as established by the CBN, the Nigerian Securities and Exchange Commission (SEC), and the Nigerian Financial Intelligence Unit (NFIU).

The ASC said it is committed to enhancing secure and compliant financial interactions, revolutionising the way people transact and engage with their money securely and seamlessly.

“This ushers in a new era of financial fluidity, bridging the Nigerian Naira with the global market through blockchain technology,” the statement reads.

“Backed 1:1 by Naira reserves held in designated commercial banks, the cNGN Stablecoin transforms the Naira into a dynamic tool for worldwide remittances, commerce, trade, and investment.

“More than just a currency, cNGN shortens settlement times, enabling payments that traverse the globe swiftly, mirroring the speed of a text message and at a fraction of the cost.

“This breakthrough paves the way for instantaneous financial transactions, seamlessly connecting Nigeria’s vibrant economy with international markets and offering unprecedented efficiency in both domestic and global financial interactions.”

WHAT CAN BE DONE WITH THE NAIRA STABLECOIN

According to the ASC, people can pay for anything, anywhere, and at any time. With a seamless tap, users can shop the world and pay in naira without the traditional challenges of currency conversion and hefty international transaction fees.

The consortium also said “supporting your loved ones back home becomes as simple as a quick tap on your phone” with the new innovation.

“No more standing in lines. With cNGN, funds land directly in their wallets within seconds, ready to fuel their dreams and brighten their days. No more distance, no more delays, just the magic of compliant virtual assets bridging the gap between hearts,” the ASC added.

“Cut out the red tape and sky-high fees of traditional international trade. With cNGN you can send and receive payments across the globe instantly enabling you to transact with national & international partners in any stablecoin currency, fueling economic growth and global success.

“Get paid, anywhere, instantly. Ditch the limitations of location and outdated payment systems. With cNGN, you can freelance for the world, right from your desk in Nigeria. Your talent knows no borders, so why should your income? Skip the bank queues and paperwork.”

The unveiling of the cNGN is coming over two years after digital currency transactions were banned by the apex bank.

In February 2021, CBN directed deposit money banks (DMBs), non-bank financial institutions (NBFIs), and other financial institutions (OFIs) to close accounts of persons or entities involved in cryptocurrency transactions within their systems.

The regulator further warned local financial institutions against dealing in crypto assets or facilitating payments for crypto exchanges, citing money laundering (ML), terrorism financing (TF), cybercrime, and the volatility of cryptocurrencies as reasons for the ban.

However, the apex bank on December 22, 2023, issued fresh operational guidelines on virtual assets service providers (VASPs) to all banks and OFIs — signalling a shift from its initial position which restricts crypto transactions.

VASPs are entities that conduct exchanges between virtual assets (cryptocurrencies) and fiat currencies and transfers of virtual assets.

The Economic and Financial Crimes Commission, EFCC, has dropped its charges of fraud, bribery and conspiracy against a former attorney-general of the federation, Mohammed Bello Adoke.

This is in response to the no-case submission filed by Adoke, who was listed as the first defendant in the charges all related to the OPL 245 transaction of 2011.

The anti-graft agency said it does not have evidence to support its charges of fraud, bribery and conspiracy against Adoke.

The EFCC also informed the FCT high court that it would not oppose Adoke’s application, alongside that of the other defendants in the case which include Aliyu Abubakar, Rasky Gbinigie (Malabu Oil & Gas Ltd company secretary), Malabu Oil & Gas Ltd, Nigeria Agip Exploration Ltd, Shell Ultra Deep Nigeria Ltd, and Shell Nigeria Exploration Production Company Ltd (SNEPCo), over some of the charges.

However, the EFCC said that Gbinigie has a case to answer over the alleged forgery of company documents to remove the name of Mohammed Abacha as a director of Malabu Oil & Gas.

Recall that that the EFCC had charged Adoke before the FCT high court, Abuja, alleging that he received a bribe of N300 million from Abubakar over the OPL 245 resolution.

[ThisNigeria]

Liverpool boss Jurgen Klopp joked Friday that he is not wishing Mohamed Salah too much luck at the Africa Cup of Nations as he prepares for a crucial spell of games without his top scorer.

Salah is away with Egypt for the tournament in Ivory Coast while Japan captain Wataru Endo will be involved at the Asian Cup in Qatar, with both players expected to go deep in the respective competitions.

That could mean they will not be back until the second week in February but Klopp said he sent them on their way this week without wishing them too much success.

“I said if I wish you good luck it would be a lie,” Klopp said ahead of Liverpool’s FA Cup third-round tie at Arsenal on Sunday.

“From a personal point of view, I would be happy if they go out in the group stage but that’s probably not possible. They can go on and win it.

“So it was ‘Good luck and come back healthy’. We have to deal with it and we will deal with it. I am pretty positive that we will find a way.”

Klopp does not really have a suitable replacement for Salah, who plays on the right side of his attack and has scored 18 goals in all competitions this season.

Midfielder Dominik Szoboszlai was touted as a potential option but he has been ruled out for at least two matches with a hamstring injury sustained in the New Year’s Day win over Newcastle.

But Klopp, whose side are top of the Premier League, is confident Liverpool can fill the hole left by Salah.

“I think we played against West Ham (in last month’s League Cup quarter-final) without Mo on that side and Harvey Elliott played there,” he said.

“We have different offensive options who can all play that wing in a different way. Nobody else can play like Mo, it is not possible — we just have to use the boys with their skills.

“Do we want to play without Mo? No. In the past we didn’t have to do it often but we always found a way.

“But we play Arsenal and you can lose to Arsenal with Mo Salah so it’s possible to lose to them without him.”

Klopp said he was braced for a challenging January, even though there are fewer Premier League games due to a mid-season player break.

Liverpool’s game at the Emirates comes just two weeks after the title-chasing sides drew 1-1 at Anfield in the Premier League and will be followed by the first leg of their League Cup semi-final against Fulham on Wednesday.

“Some teams obviously don’t play that often in January,” he said. “We don’t have that, we have now with the semi-final, we have a proper rhythm.

“I think a re-match against Arsenal would really not be helpful, that’s how it is, because it just doesn’t fit in, would kill the winter break, stuff like this.”

[OpinionNigeria]

CABLE television service provider StarTimes has secured the rights to show the 2023 Africa Cup of Nations in Nigeria and other sub-Sahara countries.

StarTimes announced the rights acquisition today, two days after its rival SuperSport, who had broadcast the previous editions of the tournament, confirmed it would not be showing AFCON 2023.

The tournament will be held in from January 13 to February 11 across five cities in Cote d’Ivoire, with the Super Eagles of Nigeria one of 24 national teams taking part.

“In a groundbreaking move that promises to redefine sports broadcasting, media giant StarTimes has officially secured the rights to air the highly anticipated TotalEnergies CAF Africa Cup of Nations Cote d’Ivoire 2023 and all CAF events held in 2024 in Anglophone and Lusophone countries in Sub-Saharan Africa, including CHAN 2024 and AFCON 2025 Qualifiers,” StarTimes stated today.

“This strategic acquisition cements StarTimes’ commitment to delivering premium sports content to its viewers and reinforces its position as a leading player in the African media landscape.

“All the fifty-two matches will be aired exclusively on Sports Premium, Sports Life and Beta Sports channels.

“The Africa Cup of Nations, organised by the Confederation of African Football (CAF), stands as one of the most prestigious football tournaments on the continent.”

The Confederation of African Football had announced in November that it had sold the rights to AFCON and other competitions to New World TV, a relatively new outfit based in Togo, for the next three years.

New World TV in turn has redistributed the rights to channels across the continent, with StarTimes and some free-to-air stations set to show the matches of AFCON 2023 to Nigerians.

[NaijaTimes]

There is mounting pressure on Peter Obi to dump his presidential ambition and run as vice presidential candidate to former Vice President Atiku Abubakar in 2027.

Obi was the presidential candidate of the Labour Party (LP) in the 2023 general elections; where he was placed third in the result announced by the INEC Chairman, Prof. Mahmood Yakubu.

Obi is being lured to contest in a joint-ticket with Atiku on the platform of the Peoples Democratic Party (PDP) in the 2027 presidential election.

According to a notable member of the PDP, Uche Rochas, who is in the vanguard of mobilising for Atiku towards 2027, “There is time and process for everything. He should know that and should stop running faster than himself.”

Rochas had declared:

Arc Uche Rochas
@U_Rochas

“This is the only way that I can forgive Peter Obi my brother. I hope this message gets to him.

“There is time and process for everything. He should know that and should stop running faster than himself.”
Some stakeholders in the polity perceive Atiku/Obi joint ticket as a coming tsunami.

Meanwhile, some others are raising the question of what will become the place of former Governor Ifeanyi Okowa, who was vice presidential candidate to Atiku in 2023.

Uche Rochas had steered the the political storm when he declared his support for Atiku to contest for the 2027 presidential election, arguing that the former vice president has the right to do so.

[NationalDaily]

Protesting women on Friday afternoon burned down the house of the District Head of Bokkos town in Bokkos Local Government Area of the state, Michal Monday Adanchi.

According to a source from the area, the incident occurred around 12:30am.

The source said the women burned the house following the arrest of some members of the community for their alleged involvement in the recent killings in the area, adding that the traditional ruler’s residence and his administrative office were burned down.

“The incident began at the police station where they expressed their anger over the arrest of some members of the community. After leaving the police station, they proceeded to the house of the traditional ruler, protesting that he was a sellout. A few minutes after reaching the house, they set it ablaze,” the source said.

The spokesperson of the state police command, DSP Alabo Alfred, said he would call the DPO of the area and got back to our correspondent.

The state police command on Thursday confirmed the arrest of eight persons in connection with the recent attacks in Bokkos and Barikin Ladi LGAs.

Daily Trust reports that about 23 villages were attacked on the Eve of Christmas, where more than 150 people were killed and hundreds of houses razed.

Editor’s note: The picture is used for illustration, and not the traditional ruler’s burnt house.

[DailyPost]

President Bola Tinubu has celebrated the creativity and sheer artistic talents driving Nigeria’s entertainment industry, following the success just recorded by ace Nigerian artist, Funke Akindele, with her movie, ‘A Tribe Called Judah’.

The movie, produced and co-directed by Akindele, was released in cinemas in Nigeria in mid-December last year, and after two weeks, it was reported to have grossed over N1 billion, becoming the highest-earning Nigerian movie ever.

In a statement issued by his special adviser on media and publicity, Ajuri Ngelale, President Tinubu celebrated the ingenuity, creativity, and immense artistic talents of Nigeria’s thriving entertainment industry.

According to the statement, the President congratulated Akindele on her record-setting film and commended the ace thespian for her contributions to the growth of the industry.

He extolled the excellence of the Nigerian creative industry, acknowledging its pivotal place as a medium, not only for artistic expression but also a source of enormous soft power and viable export.

Tinubu said: “The creative industry is one of the high-employment sectors, providing jobs for our able and talented youths. It is an industry that is crucial to my administration. I salute Nigerians for their enduring support and patronage of home-grown creative efforts. We will provide the conducive environment for the industry to thrive further.”

[TheNation]

Suspected arsonists have invaded the residence of a 75-year-old elder sister of the Attah Igala, Mathew Opaluwa, and set her ablaze, killing her in the process.

The woman identified as Meimunat Opaluwa Sani was set ablaze alongside her granddaughter, Hajarat, in the early hours of Thursday, at her Oketekwe residence in Idah Local Government Area of Kogi State.

A family source said, “A group of people came to the house with petrol while our grandmother was sleeping alongside her daughter and granddaughter. They poured the petrol on the house and set it on fire.

“The five-year-old granddaughter, Mama, died immediately after suffering severe burns, while Mallama Meimunat Opaluwa Sani, along with her own daughter, was rushed to an undisclosed hospital. Mallama later succumbed to her injuries in the hospital, while her daughter was still battling for her life.”

Meanwhile, the Minister of Steel Development, Shuaib Audu, in a condolence message issued on his behalf by his Special Assistant on Media and Publicity, Lizzy Okonji, said “The  Minister of Steel Development,  Shuaibu  Audu, has extended his heartfelt condolences to the paramount ruler of Igala kingdom, Mathew Opaluwa, over the death of his sister, Mallama Meimunat Opaluwa-Sani and her granddaughter.”

He described the deaths of the late  Opaluwa-Sani and her five-year-old granddaughter as tragic and sacrilegious.

The minister called on security agencies to investigate the alleged arson and bring to book the perpetrators of the crime.

“It is with a heavy heart that I condole with our father, HRM,  Mathew Opaluwa, and the royal family over the deaths of his sister and her granddaughter, whose lives were taken in the most painful manner.

“I also commiserate with the entire people of Igala Kingdom at this time because this is a loss to every one of us.

“I call on security agencies to investigate the alleged arson and bring the perpetuators of this act to book so that it would serve as a deterrent to others. Such acts of sacrilege must be discouraged in our land.

“I pray that Almighty Allah grant the souls of the late Mallama Meimunat Opaluwa, and her granddaughter, Onechojo Aljanah Firdaus. I also pray Almighty Allah grants the family the heart to bear the loss,” Audu stated.

However, the Kogi State Police Command is yet to react to the incident as the state Police Public Relations Officer, SP William Aya, has not responded to a message sent to him and has not picked up repeated calls to his mobile phone.

Our correspondent also called the state Security Adviser,  Jerry Omadara, who promised to get back but has not done so as of the time of filing this report.

[Punch]

Nigeria’s highest ranked table tennis player, Quadri Aruna, has exited the World Table Tennis Men’s finals in Doha following a 0-3 (6-11 9-11 4-11) defeat to World number one, Zhendong Fan.

The quarterfinals game at the Lusail Sports Arena on Thursday saw the Chinese dominate the game.
Aruna, the World number 16, came close in the second set but Fan showed class and claimed victory.

The Nigerian had earlier defeated World number five, Brazil’s Hugo Calderano 3-2 in the Round of 16 before facing Fan in the Quarter finals.

The World number one will meet his compatriot Lin Gaoyuan, world number seven in the semi finals on Friday.
The tournament expected to end on Friday has a prize money of 340,000 US dollars.

[Leadership]