Tag: nigerian energy

Regulatory agencies responsible for overseeing the activities of Deposit Money Banks in Nigeria have sanctioned 10 banks for violations of foreign exchange guidelines and other regulatory offences. These agencies, including the Central Bank of Nigeria and the Securities and Exchange Commission, imposed fines totalling N1.502bn as penalties within the first six months of 2024. These…

A director at the Nigerian National Petroleum Company (NNPC) Limited, Fatima Yakubu, has been charged with contempt of court for allegedly violating an order issued by the Federal Capital Territory (FCT) High Court. The contempt case was brought against Ms Yakubu by four NNPC employees who contribute to the NNPC Staff Multipurpose Cooperative Society. The…

Some oil companies, on Wednesday, called for legislative intervention to curb pipeline vandalism, saying it is inimical to the country’s economic well-being and ecosystem. The companies made the call at a public hearing on oil theft, pipeline vandalism and their effects on oil-producing states, organised by the House of Representatives in Abuja. They blamed the…

Festus Keyamo, minister of aviation and aerospace development, has clarified that foreign airlines operating in Nigeria are not mandated to serve local dishes on outbound flights. His statement followed a directive issued on Tuesday, instructing foreign airlines to patronise local caterers for on-board meals. In a post on X on Wednesday, Keyamo said the airlines…

Justice Abimbola Awogboro of the Federal High Court sitting in Ilorin has sentenced one Yakubu Aminu to 200 hours, (about nine days) of community service without an option of fine for carrying out Bureau de Change businesses without a valid licence. Similarly, a Kwara State High Court presided over by Justice Hammed Gegele also jailed…

Oyo state government has arraigned the embattled former chairman of the State Park Management System, (PMS) Alhaji Mukaila Lamidi, popularly known as Auxiliary in Court on a 17-count charge. Lamidi was arraigned before Justice O.A. Adetujoye on Tuesday on Offences bordering on robbery, murder, attempted murder, and possession of firearms, specifically AK 47, assault rifle,…

Justice Yetunde Adesanya of the Lagos State High Court sitting at the Tafawa Balewa Square on Tuesday fixed December 5th for the hearing of two no-case submissions applications filed by the co-defendants of Chidinma Ojukwu, who are standing trial for the murder of the Chief Executive Officer (CEO) of Super TV, Usifo Ataga. Justice Adesanya,…

The Ministry of Works has engaged the services of six Senior Advocates of Nigeria to defend lawsuits initiated by aggrieved persons concerning the construction of the Lagos-Calabar Coastal Highway project. One of the legal suits is seeking information regarding the N15tn budget allocated for the construction of the Lagos-Calabar Coastal Highway. The SANs representing Umahi…

The Federal High Court in Abuja has ordered an additional 30-day freezing of 818 bank accounts being investigated for allegedly receiving “proceeds of crime” resulting from a N10bn cyberattack on the Hope Payment Service Bank platform. The order, which was requested by the Inspector General of Police, was granted by Justice James Omotosho on Monday,…

Customers of Guaranty Trust Bank (GTBank) are still struggling to access banking services due to persistent downtime, even after the bank announced the completion of its transition to a new core banking application system. For several days, both individual and corporate customers have been unable to utilize the bank’s digital platforms following the migration to…

Justice Ambrose Lewis-Allagoa, on Tuesday, granted two female suspects, Blessing Chima and Chikamson Williams, arraigned before a Federal High Court in Lagos a bail of N200m for alleged N140m theft. Chima and Williams, who are both 47 years old, were arraigned in the court via number FHC/L/709c/2024, filed against them by the Force Criminal Investigation…

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has unveiled an ambitious agenda for economic reform to reduce inflation, create jobs, and foster growth in key sectors. Edun said this at the 30th Nigeria Economic Summit (NES30), in Abuja on Tuesday. He said that government was focused on agriculture, manufacturing, oil,…

The Ogun State Government on Tuesday confirmed it had dragged the Nigerian Financial Intelligence Unit (NFIU), which is under the federal government, before the Supreme Court over its financial guidelines limiting cash withdrawals from the public accounts. The state, however, dismissed being a party to a case at the Supreme Court, challenging the constitutionality of…

The police on Tuesday arraigned a 29-year-old man, Shehu Garuba, for allegedly stealing an Automated Teller Machine card and withdrawing N810, 000 from the owner’s account. The defendant, of no fixed address, was arraigned before an Ado-Ekiti Chief Magistrates’ Court, on a charge of stealing. The prosecutor, Inspector Moyosola Adesola, told the court that the…

The Nigeria’s foreign reserves has risen to US$39.12 billion, representing 12.74% increase as of October 11, 2024, from US$34.70 billion at the end June 2024, the Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, has said. Cardoso, who stated this at an interface with the House of Representatives Committee on Banking, said the increase was…

*Raises Concerns Over Applicability Of Deceased’s Will Drawn Up In The U.S. To Assets In Nigeria *Alleges Mismanagement Of Late Herbert Wigwe’s Estate By Business Partner Aigboje Aig-Imoukhuede A complex legal battle over the guardianship and estate of the late Herbert Onyewumbu Wigwe, a prominent businessman, has surfaced at the Lagos State High Court’s Probate…

The Federal Government, through the Ministry of Aviation and Aerospace Development, has directed foreign airlines to patronize local caterers for their in-flight meals. This directive was announced by the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, in a letter signed by Mr. Hassan Ejibunu, the Director overseeing the Office of the Permanent Secretary,…

Justice Yusuf Halilu, of a Federal Capital Territory High Court, sitting in Jabi, Abuja, on Tuesday, has issued an interim order against the Economic and Financial Crimes Commission, restraining them from arresting or detaining a former Minister of Defence, Mr Lawal Batagarawa, over a land dispute matter. The court also restrained the commission and its…

The Lagos State High Court has issued an interim order restraining popular social media entertainer, Martins Vincent Otse, known as VeryDarkMan, from further publishing defamatory content about renowned human rights lawyer, Femi Falana (SAN). The order, issued by Justice M.O. Dawodu on Monday, mandates VeryDarkMan, his agents, and associates to remove the defamatory videos and…

The World Bank Vice President and Chief Economist, Mr. Indermit Gill, has called on the Nigerian government to stay the course on ongoing economic reforms despite the hardships they are causing for citizens, especially the most vulnerable. Speaking at the opening session of the Nigerian Economic Summit in Abuja, Gill commended the Central Bank of…