Tag: nigerian energy

The Economic and Financial Crimes Commission (EFCC) has countered the claims of deteriorating health condition by the family and legal team of detained Binance executive, Tigran Gambaryan, who is facing money laundering charges in Nigeria. Recall that the family claimed that Gambaryan “can no longer walk” due to health concerns involving a herniated disc. EFCC’s…

The Nigerian government has charged seven suspects, including two Chinese nationals to court over alleged illegal mining activities in Kogi and Ondo states. The suspects were arrested in a recent operation carried out by Mining Marshals, an enforcement unit tasked with regulating and securing the country’s mining sector. This was disclosed in a statement released…

Justice Emeka Nwite of the Federal High Court in Abuja has remanded 10 #EndBadGovernance protesters in prison. The judge, on Monday, remanded nine male protesters in the Kuje prison while a female protester was remanded in Suleja. The court also fixed September 11 for trial and ruling on bail application by the protesters. This followed…

A cross-section of Nigerians have expressed reservations about the inability of BUA Cement to keep to its promise of reducing the price of cement in the country. This is coming on the heels of the statement credited to the Chairman of BUA Cement, Abdul Samad Rabiu, where he stated that cement dealers frustrated his company’s…

A federal high court in Abuja has summoned Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), to appear before it regarding the money laundering case brought against Binance Holdings Limited and its executives. Cardoso is to appear before the court with specific documents on September 2. Although Emeka Nwite, the presiding judge, had…

A law firm, Sovereignty Legal Practitioners, has made a threat to institute what it termed a class action against British Airways due to the alleged systematic inhuman treatment of Nigerian passengers using the airline. According to a pre-action letter to the airline dated August 30, 2024, and signed by its Principal Partner, Ife Ajayi, the…

The Nigerian National Petroleum Company Limited (NNPCL) has acknowledged experiencing financial difficulties due to the cost of supplying Premium Motor Spirit (PMS) petrol, which has been affecting the sustainability of its supply operations. The NNPCL’a Chief Corporate Communications Officer, Mr. Olufemi Soneye disclosed this in a press statement on Sunday, September 1. The statement said:…

The Securities and Exchange Commission (SEC) says it has implemented a series of initiatives aimed at reducing the time it takes for companies to list their shares on the Nigerian stock exchange. A statement from the SEC on Sunday, September 1, said the reforms are part of a broader effort to improve the efficiency, attractiveness,…

The National Association of Nigeria Travel Agencies is set to meet with representatives of Emirates to deliberate on the airline’s decision to sell tickets in dollars to Nigerians. The former President of NANTA, Susan Akpdoriaye, expressed frustration over the situation, saying, “Emirates cannot come out in the open and say they want to sell in…

The Central Bank of Nigeria (CBN) has terminated the appointments of all executive directors at the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL). The decision, approved by CBN Governor Olayemi Cardoso on Friday, marks the latest in a series of layoffs at the apex bank since his assumption of office last year. The…

Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Senate President, Mr Godswill Akpabio and Speaker of House of Representatives, Mr Tajudeen Abbas over “the failure to end the apparently unlawful practice by the National Assembly of fixing its allowances and running costs, and the failure to account for the monthly running…

Dark and tall with a beard trimmed to perfection, he was an incredible . for the dark-blue Air Force uniform. Group Captain Nnaemeka Badaru had just retired from the force and itching to leave the Sam Ethnan Air Force Base in Oshodi, Lagos State, for his palatial house in Abuja, where his wife, Alhaja Zainab,…

Prof Chris Imumolen of the Accord Party (A) has been cleared by the Federal High Court in Abuja to continue as the party’s National Chairman. The presiding judge, Hon. Justice M.M. Adamu, on Friday, upon hearing Prof Imumolen’s counsel’s prayers, filed on August 26, 2024, gave an ex-parte order restraining the defendants from parading themselves…

A Federal High Court sitting in Abuja on Friday issued an order to freeze 13 bank accounts linked to a suspected terrorist, Henry Okocha. Justice Peter Lifu issued the order following an ex-parte application filed before the court by the Department of State Services, represented by its counsel, Yunus Umar. The ex-parte application, marked FHC/ABJ/CS/1036/2024,…

The Nigerian National Petroleum Company (NNPC) Limited says it is seeking to engage reputable and credible operations and maintenance (O&M) companies to operate and maintain two refineries. The refineries are the Warri Refining and Petrochemical Company (WRPC) and the Kaduna Refining and Petrochemical Company (KRPC). This comes seven months after the national oil firm made…

CRC Credit Bureau has said that over 30 million Nigerians now have credit scores from its repository. The bureau firm said this milestone highlighted its commitment to enhancing financial inclusion and fostering economic growth in Nigeria. The company , in a release yesterday, said credit score is a numerical representation of an individual’s creditworthiness, derived…

The Central Bank of Nigeria’s (CBN) has disclosed currency outside the banking system dropped to N3.66 trillion in July, inferring that its ongoing efforts to tighten liquidity and encourage formal banking deposits are showing promising results. The development marks the second significant decline this year, reflecting a shift in public behavior towards increased reliance on…

Geometric Power, Nigeria’s foremost integrated electricity group, has decried the acute shortage of natural gas supply to its 188-megawatt plant in the Osisioma Industrial Estate in Aba, Abia State, saying it is affecting the state’s economic growth. “Due to the grave shortage of gas”, said Ugo Opiegbe, the managing director of Aba Power, Nigeria’s 12th…

The Management of Eko Electricity Distribution Company (EKEDC) has clarified that it disconnected the foremost institution on Tuesday, due to recurring accumulated outstanding payments totally over one billion naira. A statement by the utility’s firm’s General Manager, Corporate Communications and Strategy, Mr. Babatunde Lasaki, explained that despite making a payment of N180 million for July…

A 39-year-old man, Bassey Ikpi, accused of posing as a forex trader, was arraigned on Thursday before the Lagos State Chief Magistrate Court in Ebute-Metta for allegedly defrauding several individuals and companies of large sums in multiple currencies. The defendant, who is facing four counts bordering on conspiracy, obtaining by false pretence, fraud, and breach…