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NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve
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CBN offers 265m dollars to airlines


By Akinola Ajibade


Moved by the need to reduce the problems facing nation' s aviation sector, a development, which has made travelling  a task as airlines have increased the fees for local and foreign flights, the  Central Bank of Nigeria CBN has released the sum of $265 million to airlines operating in the country, to settle outstanding ticket sales.

A breakdown of the figure indicates that the sum of 230 million dollars was released as special Foreign exchange intervention while another sum of 35 million dollars was released through retail S.M.I.S auction.

Confirming the release, the Director, Corporate Communications Department at the CBN, Mr. Osita Nwanisobi said that  Governor, Godwin Emefiele and his team were concerned about the development and what it portends for the sector and travellers as well as the country in the comity of nations.

Nwanisobi reiterated that the Bank was not against any company repatriating its funds from the country, adding that what the Bank stood for was an orderly exit for those that might be interested in doing so.

With the release of the fund, it is expected that operators and travellers as well, will heave huge sighs of relief, as some airlines had threatened to withdraw their services in the face of un-remitted funds for outstanding sale of tickets.

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