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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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Failed Transactions: CBN Refunds N115.45b To Customers

By Favour & Akinola Ajibade


The Central Bank of Nigeria,CBN says it has  refunded customers to the tune of N115.45 billion in this country.

This follows decision by the apex banking regulatory body to resolve 33,437 cases  out of 35, 453 discovered in the industry.

Speaking on the issue recently, Mr Elachi Samuel of the Consumer Protection Department,CBN, urged stakeholders, including farmers to make use of an alternative payment channels in order to enable it reduce problems relating to banking transactions greatly in the future. 

This, Elachi said, would help in bridging the gap of Nigerians who outside banking industry and further deepening financial inclusion system in Nigeria. 

While enlightening stakeholders in Abuja, he implored farmer associations to embrace the e-Naira policy which is being  implemented in the country. 

He further said that the rights and responsibilities of financial consumer, particularly in chosen banks’ products, resolving failed bank transactions and disclosure of details, are necessary in developing the sector.

He noted: “It is within your right to receive transaction history on your mail to know how much you’re being charged. This will allow you to know that you’re not shortchanged and cheated. Financial consumers must know that they have the right to report their banks to the CBN over unresolved failed transactions.

“If you report the problem to us, we will look at the issues and ensure that we do justice. Between May 20, 2013 and May 20, 2023, we were able to refund N115.45 billion of failed bank transactions.We have received 35,453 complaints. We resolved 33,437″.

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