Tag: nigerian energy

A Federal High Court sitting in Lagos has refused the prayers of a cable outfit, Multichoice Nigeria Limited, to strike out the claims of the Musical Copyright Society Nigeria Ltd/Gte (MCSN) in its N30billion copyright infringement suit instituted against it for want of jurisdiction. In the preliminary objection filed before Justice Daniel Osiagor and argued…

The Federal Government has disclosed that sales of crude oil to Dangote Refinery and other local refineries will commence October 1, 2024. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the announcement during a meeting with the Implementation Committee on Monday in Abuja. According to a post on the official…

Justice Benjamin Iheka of the High Court of Imo State has restrained eight parties, including the Imo State Government and Founder of Zion Gate Ministries, Chukwuebuka Obi, from building on a parcel of land allocated to Chelsea Group Limited, contrary to the Public Private Partnership agreement. In the court order the Judge specifically ordered that…

The Federal Inland Revenue Service (FIRS) is set to introduce a comprehensive bill aimed at revamping Nigeria’s tax administration system, including the regulation of the cryptocurrency industry. A statement from the FIRS by Dare Adekanbi said the Chairman, Dr. Zacch Adedeji, made this disclosure during a stakeholders’ engagement with a joint committee of the National…

The National Agency for Food and Drug Administration and Control (NAFDAC), has revealed that bread sold in the markets is failing laboratory tests because producers are using saccharine due to the high cost of sugar. NAFDAC warned water producers, patent medicine dealers and other manufacturers of regulated products against selling fake and substandard products. Mrs…

The Federal High Court in Abuja has declared that the destruction of beer bottles in some parts of Nigeria constitutes an act of economic sabotage. The court’s verdict, delivered by Justice Emeka Nwite on May 20, 2023, came in response to a suit filed by activist Sesugh Akume against the Attorney-General of the Federation (AGF)…

The Federal Airports Authority of Nigeria (FAAN) has concluded plans to establish a magistrate court at airports across the country for the immediate trial of offenders who defy anti-touting and other airport regulations. The Managing Director of FAAN, Mrs. Olubunmi Kuku, who made this known yesterday, during a meeting between FAAN management and heads of…

A Kano State High Court presided over by Justice Aisha Yau has restrained the Economic and Financial Crimes Commission (EFCC) and the Nigeria Police from arresting and detaining Kano State Chief of Staff, Shehu Wada Sagagi. The court also restrained the EFCC and the police either by themselves or their privies, servants, agents or whatsoever…

The Federation Accounts Allocation Committee (FAAC) has shared N1.358 trillion to Federal Government, States and Local Government Councils in July 2024. This allocation, which came from the July 2024 Federation Accounts Revenue, is aimed at promoting equitable distribution of resources across the country. According to the communiqué at the end of the meeting, the Federal…

The Federal High Court sitting in Lagos has restrained FBN Holdings Plc from holding, conducting or hosting its 12th Annual General meeting scheduled for August 22, 2024, whether virtually or otherwise, pending the determination of a motion for interlocutory injunction filed by an aggrieved shareholder, Tohir Folorunsho Ismaila. Justice Akintayo Aluko gave the order on…

The High Court sitting in Calabar has granted bail to Ntufam Dr. Oscar Ofuka, a former aide to the immediate past governor of Cross River State, Prof. Ben Ayade. Ofuka facing allegations of murder. In case No. HC/84F/24, Justice Ukpai Ibitham heard Ofuka’s application for the enforcement of his fundamental rights to life, fair hearing,…

There are indications that the persistent fuel shortage across the country is caused by the decision of some marketers not to lift fuel over impending price increase. Sources who spoke to our correspondent on Friday stated that some filling stations were not selling in anticipation of a price increase ahead of the roll out of…

The Court of Appeal in Abuja has set aside the orders by Justice Inyang Ekwo of the Federal High Court, Abuja barring three chieftains of the Peoples Democratic Party (PDP) from further attending any meeting of the party’s National Executive Committee (NEC) or participating in deliberations or proceedings of the meetings in any manner. The…

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stated that the $500m domestic FGN US dollar bond will enhance external reserves and help stabilise the foreign exchange situation in the country. Edun made this statement on Thursday in Lagos at the hybrid roadshow ahead of the offer’s tentative opening on…

The petrol scarcity crisis continues to grip the nation as investigations by Daily Trust reveal that many filling stations across the country are still not dispensing the product. Where fuel is available, prices have skyrocketed, with some independent marketers charging close to N1,000 per liter. In the Federal Capital Territory, motorists endure countless hours queuing…

Justice Akintayo Aluko of a Lagos Federal High Court, has ordered interim forfeiture of cash sum of $2, 045, million USD, linked to the embattled former governor of the Central Bank of Nigeria, Mr. Godwin Ifeanyi Emefiele. The judge also ordered interim forfeiture of the seven landed properties linked to the suspended CBN Governor. The…

Registrar General of the Corporate Affairs Commission Hussain Ishaq Magaji, (SAN), has written to the attorney general of the federation, Lateef Fagbemi, seeking approval to prosecute the Nigerian Law Society and other corporate entities operating without registration in the country. In a letter signed by the RG and dated 15, August, the CAC said the…

A Federal High Court in Abuja has refused an application for a stay of further proceedings in a suit challenging the decision of the River state government to conduct a local government election in October. Justice Peter Lifu, in a ruling on Thursday, August 15, dismissed the oral application for a stay of proceedings made…

A Federal High Court in Abuja has denied a motion by the Inspector General of Police (IGP) seeking an order to compel approximately twelve banks and financial institutions to reverse billions of naira that were allegedly fraudulently withdrawn from a Flutterwave account at Wema Bank due to a system glitch between October 12 and 13,…

GTBank, a leading Nigerian financial institution, has said those who tried to compromise its website were not successful. The bank said this following an incident which made its website inaccessible, on Wednesday night. Some customers had taken to social media to lament their inability to access the website. TheNigerialawyer also made multiple attempts to log…