Tag: nigerian energy

Shafi’u Umar Tureta, an aide to former Sokoto State governor, Aminu Tambuwal, has been remanded in a correctional facility over accusations bordering on defaming the incumbent governor, Ahmad Aliyu and his wife, Fatima, on social media. The allegations against Tureta, who served as Tambuwal’s Special Assistant on Local and Digital Media, were brought before a…

Emirates Airlines has recently begun offering competitive dollar-priced airfares to Nigerian passengers as it prepares to resume services to the country from October 1, 2024. The move has attracted both criticism and praise from aviation experts and travelers. Competitive Fares, but in Dollars Investigations on Monday revealed that all fare inventories on Emirates Airlines’ website…

The Securities and Exchange Commission (SEC) has directed shareholders to access the e-dividend portal through its official website. The Director General of the SEC, Dr. Emomotimi Agama who stated this in an interview recently, emphasised that the process is safe and urged investors to take advantage of the opportunity to mandate their accounts. Agama said,…

Nigeria’s Gross Domestic Product (GDP) grew by 3.19 per cent, year-on-year, in real terms in the second quarter of the year (Q2 2024) compared to 2.51 per cent in Q2 2023, the National Bureau of Statistics (NBS) said Monday. The performance was also higher than 2.98 per cent recorded in the Q1 2024. According to…

A 45-year-old man, Aramide Tito, was arraigned on Monday at the Badagry Chief Magistrates’ Court for allegedly starving and assaulting his 11-year-old stepson. Tito, whose address was not provided, faces charges of indecent treatment, assault, and attempted murder. He has pleaded not guilty to the charges. The prosecutor, ASP Clément Okuoimose, informed the court that…

The Court of Appeal in Abuja has set aside the July 4 judgment of a Federal High Court in Abuja faulting the conduct of the governorship primary of the Peoples Democratic Party (PDP) in Edo State, which produced Asue Ighodalo as the party’s candidate in the forthcoming September 21 election. In a unanimous judgment a…

The Central Bank of Nigeria, CBN, today lifted the suspension on lending to banks through its Standing Lending Facility, SLF, adjusting the lending rate to 31.75 percent interest rate. CBN also said that commercial and merchant banks would earn a 19 percent interest rate on deposits above N3 billion in its Standing Deposit Facility (SDF).…

*Bars 2022 Candidates From Interfering With New Abia Judicial Appointments In a ruling delivered on July 26, 2024, the National Industrial Court, Owerri Division, upheld the Abia State Judicial Service Commission’s (JSC) constitutional right to initiate a fresh judicial appointment process for the Abia State Judiciary. The decision was made in suit no. NICN/OW/05/2024. Justice…

The Central Bank of Nigeria has reported that Nigeria experienced a total of $1 billion in capital outflows in April 2024. According to its April 2024 Monthly Economic Report released on Sunday, this figure represents a significant increase of 35.14 per cent from the $740 million recorded in the previous month. The report stated that…

An oil firm, Matrix Energy and its Chief Executive Officer, have filed a N20bn suit against two media platforms before a High Court of the Federal Capital Territory (FCT), Abuja, as damages for alleged libelous allegations and publications against them. The firm, Matrix Energy and its CEO, Alhaji Abdulkadir Adisa Aliu, In a suit, through…

African Export-Import Bank, Afreximbank, has announced that it provided a $650 million lending facility to Oando Plc as part of the $783 million acquisition of Nigerian Agip Oil Company (NAOC). The participation by Afreximbank represented 83 percent of the total $783 million spent by Oando Plc to successful complete the acquisition of the entire shareholding…

A Federal High Court in Abuja has frozen 32 bank accounts allegedly linked to the recent #EndBadGovernance protests across Nigeria. The court order, granted on Thursday, directs banks to place a Post-No-Debit (PND) on the accounts and to apprehend the account holders or any persons transacting business on these accounts. Justice Emeka Nwite’s ruling was…

A Federal High Court in Abuja has granted applications filed by the Nigeria Police to remand 124 arrested #EndBadGovernance protesters for 60 days pending the conclusion of investigation. Justice Emeka Nwite, in separate rulings on ex-parte motions moved by Ibrahim Mohammed, counsel for the Inspector-General of Police (IGP), granted the interim order to remand the…

No fewer than 100 sacked staff of the Central Bank of Nigeria (CBN) have dragged the apex bank to the National Industrial Court (NIC) seeking payment for damages. Recall that about 200 bank staff of the CBN were sacked, in May 2024, by its Governor, Olayemi Cardoso-led administration as part of the bank’s re-organization strategy.…

A pregnant woman, Harira Aliyu, has asked a Shari’a court sitting in Rigasa, Kaduna State, to compel her former husband, Nasiru Al-Hassan to provide financial support for her upkeep. According to the News Agency of Nigeria (NAN), the complainant also prayed the court to confirm one pronouncement of divorce made by Al-Hassan in March. “I…

The Federal High Court sitting in Lagos presided over by Justice Akintoye Aluko on Thursday have convicted and sentenced a ‘yahoo boy’ Adeyemi Tomiwa Oluwaseun to four years imprisonment or a fine to the value of what he benefitted from his fraudulent activities. Justice Aluko handed down the sentence sequel to the guilty plea of…

Ride-hailing service, Bolt has lamented that its “financial losses” following the order-a-ride prank between Nigerians and South Africans. The prank, which emerged amid ongoing rivalry between Nigeria and South Africa, forced Bolt to restrict inter-country ride requests between the two countries. The ride-hailing company also blocked an undisclosed number of riders leading to huge financial…

The Federal High Court, sitting in Lagos has reinstated its order that put the 12th Annual General Meeting (AGM) of FBN Holdings on hold until the hearing and determination of the Motion on notice filed by the aggrieved shareholder of the bank Tohir Folorunsho Ismaila. Justice Akintayo Aluko made the order sequel to an application…

Commercial banks in Nigeria have started complying with the order of a Federal High Court in Abuja nullifying the requirement for lawyers to disclose their clients’ financial transactions to some law enforcement agencies. Justice Obiora Egwuatu had in July nullified the provisions of the Special Control Unit Against Money Laundering (SCUML) Act, 2022 which mandates…

An Osogbo Magistrate’s Court in Osun State has ordered the remand of a 30-year-old housewife, Mrs. Deborah Olujaiye, for allegedly stealing a sum of N6,333,700 from her husband’s bank account without his approval. The accused, a resident of Olude area in Osogbo, was arraigned on Thursday, with the police prosecutor, Inspector Adeoye Kayode, informing the…