Central Bank of Nigeria has given a directive to banks and other financial institutions to stop sales of treasury bills to individuals and small firms with effect from November 29. Some bank officials who disclosed this said only big corporate organisations would be allowed to do treasury bills investments. Our correspondents learnt that banks were already notifying their customers of the new directive. The sources, however, said the existing treasury bills investments would be allowed to continue till the end of their maturity dates. A bank official said, “Operators are trying to see if the November 29 deadline given for…

OPEC's World Oil Outlook for 2019 found that output will fall over the next five years, while America's shale oil production will overtake that of the group. The Organization of the Petroleum Exporting Countries' supply has fallen in the last few years due to a pact with Russia, boosting oil prices. OPEC, the Organization of the Petroleum Exporting Countries, said that the US will overtake it in terms of crude oil output within the next five years. In its World Oil Outlook 2019 report released on Tuesday, OPEC said it expects its own output to fall to 32.8 million barrels…

Tom Corley There are a handful of things that separate the ultra rich from everyone else: research has shown they tend to exercise regularly, maintain a healthy diet, save 10% or more of their income, read books and manage their time wisely. But the most important — and most overlooked — habit they share that helped them grow their wealth, in large part, is their commitment to forge valuable relationships with individuals they aspire to be: positive, success-minded folks. You are who you associate yourself with That’s what I discovered through my “Rich Habits” study, in which I spent five…

Nigerian National Petroleum Corporation has said it is in the process of establishing two new 200,000 barrels-per-day condensate refineries to boost in-country refining capacity. Unlike the conventional refineries, condensate refineries primarily refine condensate, not crude oil. They often produce one product, mostly Premium Motor Spirit, popularly known as petrol. NNPC’s Group Managing Director, Mr Mele Kyari, disclosed this in a statement issued by the oil firm in Abuja on Monday, adding that upon completion, the refineries would help transform Nigeria into a net exporter of petroleum products. He said the exportation of petroleum products from the condensate refineries would be…