archiveDecember 15, 2016

In a huge blow to the struggling internet pioneer, Yahoo said it discovered a massive hack dating back to 2013 as it was investigating another major data breach. Yahoo said on Wednesday more than a billion users may have had data stolen in a hack dating back to 2013 --...

The Federal Government will clear unpaid bills worth $5.1 billion for oil production joint ventures piled up over many years under a deal signed on Thursday with Shell , Chevron, Total, Eni and Exxon Mobil. The deal would unlock new investment in the OPEC member country, Oil Minister Emmanuel Ibe...

Annual inflation in Nigeria rose in November to 18.48 percent, the National Bureau of Statistics (NBS) said on Thursday, representing the highest in more than 11 years and the tenth straight monthly rise. The rise from 18.3 per cent in October reflected higher prices for housing, electricity and food, a...

Nigeria’s state oil company lost more than 1.5 trillion naira ($4.8 billion) as a result of attacks on pipelines and facilities by militants in 2016, its managing director said Wednesday. Militants in the Niger Delta—a vast, oil-rich swampland in southern Nigeria—have launched frequent attacks on oil facilities throughout the year....

The Senate has refused to confirm the nomination of Mr. Ibrahim Magu as the Chairman of the Economic and Financial Crimes Commission (EFCC). The Chairman, Senate Committee on Media and Public Affairs, who addressed journalists after a closed-door session on Thursday, said the rejection was based on “security report.” He...