GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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NIMC VOWS TO INTRODUCE NEW NATIONAL IDENTITY CARD SHORTLY. (PHOTO).

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The Federal Government, through the National Identity Management Commission (NIMC), has reiterated its commitment to launch the upgraded national identity card, the General multipurpose card (GMPC), sooner in the year.


a statement by the Agency described the new National ID Card as a single, convenient, and General multipurpose card (GMPC), that eliminates the need for multiple cards.


It wrote “The innovative card made in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), is to be powered by AfriGO, a National domestic card scheme licensed by the CBN to provide cost-effective and transparent card payments.”


Currently, the 26 commercial and microfinance banks are issuing the AfriGo cards in the country.


According to NIMC, the innovation will address the demand for physical identification enabling cardholders to prove their identity, and access government and private social services.


On the voters’ card, the commission says several meetings with the Independent National Electoral Commission  (INEC) are ongoing to see how a merger is visible for just one card.

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