Tag: nigerian energy

The federal government yesterday superintended over the signing of an agreement between BFI Group and CNCEC for the restarting of the Aluminum Smelter Company of Nigeria (ALSCON) located in Ikot Abasi, Akwa Ibom State. The event is coming after the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, met with top officials of CNCEC and…

An investment firm, Barbican Capital Ltd, has asked a Federal High Court in Lagos to strike out the suit it filed against FBN Holdings in order to explore an amicable resolution of the dispute. The plaintiff, Barbican Capital Limited, an affiliate of Honeywell Group Limited, had filed suit No. FHC/L/CS/1172/24, claiming it had cumulatively acquired…

*NNPC CEO Mele Kyari: All Crude Oil Producers Must Supply to Local Refineries Under PIA 2021 After decades of massive importation of petroleum products, the Nigerian National Petroleum Company Limited (NNPC) yesterday announced that it had finally ended the age-long practice. The development is expected to save Nigeria as much as $10 billion in hard…

The Federal Capital Territory High Court, presided over by Hon. Justice F.E. Messiri, has ruled that Sterling Bank PLC’s unilateral restriction of Uche Ojembe & Associates Legal Consult’s (UOALC) account without a valid court order was unlawful. The Court ordered the immediate lifting of the restriction and reactivation of the account in response to the…

The federal government is planning to introduce a single-digit tax regime to reduce the heavy burden placed on Nigerians’ shoulders by multiple taxation. A single-digit tax system allows less than 10 taxes to be paid by citizens or businesses within a period of time. Taiwo Oyedele, chairman, Presidential Committee on Fiscal and Tax reforms, said…

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) arraigned a former House of Representatives member for Gboko and Tarka Federal Constituency before a Federal High Court sitting in Makurdi, Benue State for allegedly violating the provisions of the ICPC Acts 2000. Hon. John Dyegh, was arraigned on a five-count charge of abuse of…

The Oyo State High Court sitting in Ibadan, the state capital, on Monday, adjourned the alleged breach of privacy case filed by Aare Ona Kakanfo of Yorubaland, Gani Adams, against Yoruba Nation agitator Sunday Adeyemo, also known as Sunday Igboho, until January 14, 2025. Recall that the claimant had, in suit No. M/1006/2024, accused the…

Business owners and legal practitioners are voicing concerns over mounting delays and bureaucratic hurdles in the business registration process at the Corporate Affairs Commission (CAC), despite the agency’s claims of a 24-hour registration policy. In interviews with BusinessDay, over 10 CAC applicants and customers described their frustrations with prolonged wait times, unresolved requests, and perplexing…

A Federal High Court in Abakaliki, Ebonyi State, has nullified the People’s Democratic Party (PDP) ward, local government, and state congresses held in the state. A faction of the PDP had conducted congresses two weeks ago to elect new party leaders at various levels. However, the court has now voided those elections. In suit no.…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reached an agreement with Dangote Refinery to directly lift premium motor spirit (petrol), diesel and other products. IPMAN National President, Abubakar Garima, disclosed this development in Abuja on Monday following a meeting of the National Working Committee of the Association. This is coming months after the…

The Economic and Financial Crimes Commission (EFCC) has urged the Federal High Court in Abuja to reject a fundamental rights suit filed in the name of Lagos State Governor Babajide Sanwo-Olu to stop possible arrest by the anti-graft agency. In its counter-affidavit opposing the suit, the EFCC described the legal action as speculative and a…

Bitcoin rallied past $80,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers. The cryptocurrency climbed as much as 4.7% to an unprecedented $80,092 on Sunday. Trump vowed on the campaign trail to put the US at the center of the digital-asset…

The Economic and Financial Crimes Commission (EFCC) has urged the Federal High Court in Abuja to reject a fundamental rights suit filed in the name of Lagos State Governor Babajide Sanwo-Olu to stop possible arrest by the anti-graft agency. In its counter-affidavit opposing the suit, the EFCC described the legal action as speculative and a…

Hon. Justice Muhammad Hamza of the Port Harcourt Judicial Division of the National Industrial Court has declared the non-payment of Mr Ikenna’s salary for the period of October 2021 to January 2022, by Alcon Nigeria Limited as a breach of the contract of employment. The Court ordered Alcon Nigeria Limited to pay Mr Ikenna the…

In a heart-wrenching court proceeding today at the Federal High Court in Lagos, Justice D. Osiagor granted a petitioner’s request to recuse himself from a case involving a minority shareholder seeking to wind up a company. The emotional decision has brought to light the serious challenges facing the legal profession in Nigeria. The case, Etim…

Lagos, November 11, 2024 – In a heart-wrenching court proceeding today at the Federal High Court in Lagos, Justice D. Osiagor granted a petitioner’s request to recuse himself from a case involving a minority shareholder seeking to wind up a company. The emotional decision has brought to light the serious challenges facing the legal profession…

The Nigeria Deposit Insurance Corporation (NDIC) yesterday said it has commenced the process for the sale of landed properties and chattels of the defunct Heritage Bank, in a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed bank. NDIC in a statement signed by Director, Communication and Public Affairs Department,…

A Chief Magistrate’s Court sitting in Enugu East Magisterial District has remanded one Anthony Onyeukwu over the death of his 11-year old houseboy, Goodluck John. The Enugu State Commissioner for Children, Gender Affairs and Social Development, Mrs. Ngozi Enih who disclosed this, stated that the 47-year-old suspect was arrested following a tip-off from one of…

The Nigerian Civil Aviation Authority, in partnership with an insurance company and an international technology firm, has launched a mobile platform designed to minimise passenger delays and ensure compensation from airlines to travellers whenever delays exceed three hours. The platform also guarantees passengers protection from any form of maltreatment by airlines. This development was unveiled…

African Alliance Insurance Plc has asked the Federal High Court in Lagos to nullify the dissolution of its board by the National Insurance Commission (NAICOM). In a suit numbered FHC/L/CS/ 2008/2024, it is praying for a declaration that the purported board dissolution and removal of its Chief Executive Officer and executive directors on October 29,…