Tag: nigerian energy

The Central Bank of Nigeria (CBN) has announced plans to penalise banks that do not dispense cash through their Automated Teller Machines (ATMs), as part of its efforts to maintain adequate cash circulation. The apex bank’s Governor, Yemi Cardoso, stated this during a press briefing at the end of the 297th Monetary Policy Committee (MPC)…

Yahaya Bello, a former governor of Kogi State, again, on Wednesday, shunned the proceedings of the Federal High Court in Abuja scheduled for his arraignment on N80.2 billion money laundering charges on Wednesday. The arraignment has been severally re-scheduled due to Mr Bello’s repeated absence from court. It made the seventh court session on Wednesday…

Long queues have resurfaced at petrol stations in the Federal Capital Territory (FCT), leaving motorists spending hours to purchase Premium Motor Spirit (PMS), also known as petrol. The situation has been attributed to the closure of many filling stations operated by independent marketers. On Tuesday evening, many filling stations in Abuja remained closed, while the…

A State High Court in Kano has issued a restraining order against the All Progressives Congress (APC), People’s Democratic Party (PDP), and 19 other political parties from obstructing the Kano State Independent Electoral Commission (KANSIEC) from collecting nomination fees ahead of the upcoming local government elections. The legal intervention follows a protest by the political…

At the 14th UK-Africa Trade Summit held in London, Dr. Peter Ntephe, CEO of ERHC Energy, shared his insights on Uganda’s energy sector and emphasized the need for the country to streamline its approval process to attract more foreign direct investment (FDI). Speaking as one of the panelists, Dr. Ntephe drew from his experience in…

The Federal High Court sitting in Abuja has granted Dantata & Sawoe Construction Company Limited a thirty-day extension to settle issues concerning the alleged $1,257,592.83 debt owed to Zutari Consulting Nigeria Ltd following subcontract work on the Dangote Fertilizer Plant project in Lekki, Lagos, Nigeria. Justice Inyang Ekwo adjourned the case for a report on…

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has clarified the reasons independent marketers are unable to purchase petrol directly from Dangote Refinery. The association’s president, Festas Osifo, at a press conference in Lagos, on Tuesday, said the issue stems from a pricing disparity between the costs at which the Nigerian National…

The Oyo State High Court in Ibadan yesterday sentenced three persons to death by hanging for the murder of Col. Anthony Okeyin, the Commandant, Nigeria Army Secondary School, Apata, Ibadan. The convicts are Agada Solomon, Taiwo Adeniyi and Bibisoye Kehinde. Justice Ezekiel Ajayi also sentenced the three to 14 years ‘imprisonment each for the offences…

A Federal High Court in Abuja has scheduled hearing for October 24 in a contempt proceeding initiated by the reinstated Edo Deputy Governor, Phillip Shuaibu against Marvellous Godwins Omobayo, claiming to be the Deputy Governor. Justice James Omotosho chose the date on Tuesday after Shuaibu’s lawyer, Reuben Eguaba drew his attention to a motion by…

An Arbitration Tribunal headed by Miriam Kombo-Ezeh has directed Senator Tokunbo Afikuyomi to vacate a property he occupies in the Maitama District of Abuja in the Federal Capital Territory. The former Senator was also ordered to pay N11 million, being profit for the period he occupied the property without a new term of lease. The…

Justice James Omotosho of the Federal High Court in Abuja, on Tuesday, dismissed two separate motions filed by the Edo State Government and the State House of Assembly against the reinstatement of Philip Shaibu as the Deputy Governor of the State. The court also awarded a total cost of ₦400,000 against the Edo State Government…

The management of Nigeria’s major carrier, Air Peace, has clarified reports that the windscreen of one of its aircraft en route from Akure, the Ondo state capital to Abuja, Embraer ERJ 145, suddenly broke to the surprise of passengers and airport staff. It said that the flight went smoothly and the aircraft landed safely without…

A key witness in the trial of former Minister of Power and Steel, Olu Agunloye, on Monday, provided crucial testimony before Justice Jude Onwuegbuzie at the Federal Capital Territory High Court in Apo, Abuja. The case involves an alleged $6 billion fraud concerning the Mambilla Power Project contract awarded to Sunrise Power and Transmission Ltd.…

The Central Bank of Nigeria (CBN) on Tuesday increased its benchmark interest rate, known as the Monetary Policy Rate (MPR) by 50 basis points to 27.25 percent, the fifth straight hike this year. The CBN also raised the Cash Reserve Ratio by 500 basis point to 50 percent from 45 percent. After the two-day Monetary…

The detained leader of the proscribed Indigenous People of Biafra, IPOB, Nnamdi Kanu, on Tuesday, asked Justice Binta Nyako of the Federal High Court in Abuja to recuse herself from his trial. Kanu spoke from the dock at the resumed proceeding in the seven-count terrorism charge the FG preferred against him. While his lawyer, Mr.…

The Federal High Court has permitted the Shell Petroleum Development Company of Nigeria Limited and Global Gas and Refining Limited to explore an out-of-court settlement regarding the latter’s allegation that Shell failed to supply wet gas in accordance with the terms of a Gas Processing Agreement dated March 15, 2002. Justice Inyang Ekwo approved the…

The trial of seven suspects accused of committing a £1 million fraud continued in the Special Offences Court in Ikeja, Lagos, with Assistant Superintendent of Police Giwa Wasiu serving as the third prosecution witness. The Lagos Directorate of the Economic and Financial Crimes Commission, EFCC, had on February 3, 2022 arraigned Morufu Adewale, (a.k.a Gbegunleri…

Aliko Dangote, Africa’s richest person and the President of the Dangote Group, owners of the new 650,000 barrels per day crude oil refinery in Lagos, yesterday argued that the decision by the Nigerian National Petroleum Company Limited (NNPC) to reduce its stake in the facility from 20 per cent to 7.2 per cent was a…

A Federal High Court in Abuja has ordered the Economic and Financial Crimes Commission (EFCC) to henceforth delete the name of the promoter of Sunrise Power and Transmission Company Limited, Leno Adesanya, from its list wanted persons. The court said Adesanya’s name should not be linked with criminal allegations associated with the $6 billion Mambilla…

Legal practitioner Mr. Junaid Sanusi has filed a lawsuit against Access Bank Plc at the Federal High Court in Ibadan, seeking N100 million in damages for alleged unlawful deductions from his savings account. In his case presented before the court on Monday, Sanusi claimed he discovered unauthorized deductions exceeding the N50 electronic levy specified by…