• The Managing Director of the Nigeria Deposit Insurance Corporation, Umaru Ibrahim, has said that the delay in amending the NDIC enabling Act 2006 is responsible for the non-payment of entitlements to depositors of funds trapped in liquidated banks, Savannah Bank, Fortis Micro-Finance Bank, and Aso Savings & Union Homes. Ibrahim said that until the National Assembly amends the NDIC enabling Act the funds could not be recovered. The NDIC Act 2006 (Amendment) Bill, 2017, sponsored by Senator Rafiu Adebayo Ibrahim (PDP, Kwara South) is currently awaiting the committee’s report.
  • After an absence of five years, 11 Plc (formerly Mobil Oil Nigeria) has re-entered into aviation fuel market. 11 Plc is returning into aviation jet fuel sales as a result of the partnership it entered into with Air BP. The construction of a new 20 million litre aviation jet fuel (ATK) tank and the laying of new ATK pipelines linking the company’s facility at Apapa with the Apapa Jetty spurred the decision. However, the company will not go into the sale and marketing of aviation jet fuel at the Murtala Mohammed International Airport or General Aviation Terminal (GAT — Domestic).
  • Data from the National Bureau of Statistics released on Friday showed that the average fares commuters pay for bus journeys within cities in the country increased by ₦8.73, from ₦185.47 in September to ₦193.21 in October. Fares increased by 4.18 percent month-on-month, and 50.31 percent year-on-year as the FCT, Cross River and Abia had the highest increases with ₦400, ₦325.71, and ₦275 respectively, while Rivers, Anambra and Bauchi were the states with lowest average bus journey fares within cities with ₦133.85, ₦104 and ₦120 respectively.
  • More than 50 Staff of the Nigerian High Commission in London have been dismissed and asked to accept a letter dated 22nd of November, 2018, which the embassy claimed took effect from 1st of January 2018. The dismissed staff, however, have not been paid for months in 2018, according to the Vanguard. The termination, as stated in a letter signed by Helen Nzeako on behalf of the ambassador, is as a result of restructuring of the organisation and due to budgetary constraints.