Oil Price Sinks To Lowest Level In 18 years

Oil dropped 24% to a more than 18-year low on Wednesday as the coronavirus pandemic continues to sap demand for crude, and as rising worries about a global recession lead to fears of longer-term demand destruction. U.S. West Texas Intermediate crude fell 24.4%, or $6.58, to settle at $20.37 per barrel, its lowest level since Feb. 2002. At the low of the day, the contract hit $20.06. It was WTI’s third-worst day on record. International benchmark Brent crude shed 14.1%, or $4.07, to trade at $24.67, its lowest level since 2003. Oil…

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Zenith Bank Records Persistent Revenue Weakness, Slow Profits

Revenue weakness of Zenith Bank Plc that showed up in 2018 failed to heal in 2019. Gross earnings had fallen by 17 percent in 2018 and managed to creep up by 5 percent to N662 billion in 2019. That remains 11 percent down from the peak gross income of over N745 billion the bank registered two years before in 2017. How the bank has been growing profit consistently amid the revenue weakness reflects the reality of the cost-cutting bandwagon that has become the norm in the banking industry. Cutting from…

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276 People Displaced, Five Die, 50 Houses And 39 Vehicles Razed In Lagos Pipeline Explosion

Emergency workers are still searching for the body of a man who was declared missing by family members three days after a massive explosion rocked Abule-Ado, a community in Amuwo-Odofin Local Government Area of Lagos State. Three persons who suffered major injuries are being treated at different hospitals while 57 others have been treated and discharged. The number of deaths recorded in the pipeline explosion that rocked the Ekoro area of Abule-Egba, Lagos State, on Sunday, January 19, 2020, has increased to five. The explosion was reportedly caused by the…

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2020 UTME: JAMB Makes Clarification On Cancellation Of Result

The Joint Admission and Matriculation Board (JAMB) has refuted claims that the results of its 2020 UTME taken on Saturday, March 14 and Monday, March 16 had been cancelled. Recall that the board on Monday released results of 312,000 candidates who sat for the exam on Saturday. However, candidates who were not able to check yesterday and those who wrote yesterday, have been unable to access their results. Reacting to viral reports on result cancellation, Head, Media and Information, Dr Fabian Benjamin, in an interview with the News Agency of…

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Abule Ado: Actress Loses Over 50 Million Worth Of Properties In Explosion

Nollywood actress Nkiru Umeh has revealed that the explosion that rocked Abule Ado area of Lagos state on Sunday destroyed her mansion, vehicles among other things valued at about 50 million Naira. Umeh, whose house is situated opposite Bethlehem Girls College, said she was away to church when the explosion occurred. The actress, who shared the videos of the mansion before it was razed, said “What’s left of my beautiful house. If you haven’t been to my house you might not really understand this. But again I thank God we…

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Lagos Archbishop Adewale Martins Commiserates With Victims Of Abule Ado explosion

The Catholic Archdiocese of Lagos has commiserated with families of victims of the Abule Ado explosion on Sunday which claimed many lives including  Rev. Sr. Dr. Henrietta Alokha, principal of the Bethlehem Girls College, Abule Ado, and one female security guard. A Statement signed by Archibishop Alfred Adewale Martins of Catholic Diocese of Lagos and made available to Media stated that no priest died in the massive explosion at the Abule Ado area of Lagos, which led to the collapse of many structures in the affected areas on Sunday, March 15. Stating…

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American Suspectedly Dies Of Coronavirus In Nigeria

An American has been suspected to have died of Coronavirus in Ekiti, Southwest Nigeria, the Ekiti State Government disclosed. Ekiti Commissioner for Health, Dr. Mojisola Yaya-Kolade, said the driver, who contracted Coronavirus in the state was suspected infected by the 27-year-old American Caucasian who died in the state. The commissioner, in a statement said the Ekiti State Taskforce on COVID-19, headed by Governor Kayode Fayemi, could confirm that “we have recorded an incidence of a Nigerian male, 38 years old, of Ekiti origin, who has tested positive to Covid-19. “The…

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Buhari Writes UK To Call Nnamdi Kanu To Order Over Biafra

The President of Nigeria, Muhammadu Buhari has written to the United Kingdom to call the Proscribed leader of the indigenous people of Biafra, Nnamdi Kanu in his agitation for Biafra because Nigeria will always remain One indivisible Nation. The President disclosed that the unity of Nigeria is not negotiable and Nigeria will remain one despite the current challenges facing the country. Nnamdi Kanu has dual citizens Nigeria and United Kingdom. He is currently in the United Kingdom preaching division message in Nigeria through his social media handles. The United Kingdom…

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European Union To Close External Borders For 30 days To Slow Coronavirus Pandemic

European leaders agreed to close the European Union’s (EU) external borders for 30 days in a new effort to slow the spread of the coronavirus pandemic. The travel restrictions at the border are temporary and aim to reduce most non-essential travel from other countries into the European Union. The new rules will apply to 26 members of the EU, plus Iceland, Liechtenstein, Norway and Switzerland. Ireland has not yet decided whether to implement the restrictions. “It’s up to them how to implement it. They said they would immediately do that,” Ursula…

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House Of Reps Ban Redeemed, Deeper life, Winners And Others Over Coronavirus

The House of Representatives has banned all forms of religious gathering, open worship and gathering of any kind . The move to ban open worship was reached after hours of deliberation and debate among the lawmakers. The ban on open worship will mean that the Redeemed Christian Church of God Monthly Holy Ghost service will put on hold. It will also affect other churches with a huge crowd and mosque with put a large crowd. The lawmakers said Nigeria should act and suspend such large gatherings. They also banned all…

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