EFCC auction, energy statistics… 7 top business news to track this week

Here are the seven top business news you need to track this week — December 5 to December 9.

EFCC TO AUCTION FORFEITED ASSETS

The Economic and Financial Crimes Commission (EFCC) will hold a physical inspection and auction exercise on forfeited assets.

The assets include 649 vehicles, 52 mobile gadgets and 15 ships. The anti-graft agency said the exercise would hold from tomorrow to December 7, 2022, at its offices in Abuja, Uyo, Enugu, Kano, Lagos, Benin, Ibadan, Port Harcourt, and Sokoto.

ABUJA-KADUNA TRAIN RESUMES OPERATIONS 

The Abuja-Kaduna train commenced operations on Monday, December 5, 2022.

The Nigeria Railway Corporation (NRC) had said passengers should get used to the new requirements (phone number and national identification number) for boarding the train.

On Sunday, Usman Baba, the inspector-general of police (IGP), also ordered the deployment of armed personnel to safeguard the Abuja-Kaduna rail services. 

According to the IGP, the operatives would be drawn from the police mobile force, K-9, force intelligence bureau, explosive ordinance unit, and railway police command. 

AFRICA CASHLESS PAYMENT SYSTEMS CONFERENCE

The Africa Cashless Payment Systems conference will hold in Abuja today.

The event is aimed at achieving secure, affordable, and accessible payment systems and services to help expand financial inclusion, foster development, and support financial stability in Africa.

Expected speakers include Godwin Emefiele, governor of the Central Bank of Nigeria (CBN); Isa Pantami, minister of communications and digital economy; Vera Esperance, minister of finance, Angola and other dignitaries from across the world.

NBS REPORTS ON FOREIGN TRADE, ENERGY STATISTICS

The National Bureau of Statistics (NBS) is expected to release a report on foreign trade in goods statistics for the third quarter of 2022.

The bureau also intends to release a report on energy and environmental statistics report 2021.

NGX MADE OF AFRICA AWARDS 

The Nigerian Exchange Group (NGX) will hold its “Made of Africa” event on Monday, December 5.

The event is themed “innovation in Capital Markets: The Panacea for Exponential Growth”.

The NGX awards are designed to recognise companies and individuals within the capital market ecosystem that demonstrate exceptional performance in value delivery and sustainable impact and act as key drivers in strengthening the Nigerian and African capital markets.

The awards also aim to reward adherence to high ethical standards, compliance with the rules and regulations of the exchange, and other applicable laws and regulations.

OPEC+ KEEPS 2M BPD PRODUCTION QUOTA

The Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, agreed to maintain the current 2 million barrel per day production output.

The group made the decision on Sunday at the end of the 34th virtual OPEC and non-OPEC ministerial meeting.

The decision comes two days after the Group of Seven (G7) nations agreed to a price cap on Russian oil.

The global oil cartel will have its next meeting on June 2023.

AERO CONTRACTORS RESUME FLIGHTS OPERATIONS

Aero Contractors will resume scheduled services today, December 5, 2022.

The planned resumption comes nearly five months after it suspended operations in July due to financial straits and other challenges in the sector.