LONG queues are snaking back at petrol stations across Africa’s biggest economy, raising fresh concerns about shortages as the Nigerian National Petroleum Company Ltd (NNPCL) struggles with a staggering $6 billion petrol payment backlog. BusinessDay reports that NNPC owes around $6 billion to international traders for imported petrol as traders said the state-owned company is taking more days to make payment instead of within 90 days. It quoted Reuters as saying that NNPC’s mounting debt, which includes overdue payments exceeding $4 billion-$5 billion for January imports alone as several international petrol suppliers have ceased participating in recent tenders. “The only…
Author: Farouk Abbas
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THE Economic and Financial Crimes Commission (EFCC) on Thursday told Justice Oyindamola Ogala of the Lagos High Court sitting in Ikeja that the Chairman of Ibeto Energy Development Company, Cletus Ibeto, has paid back the sum of N2.250bn to the Commission. The EFCC made this claim through its lawyer, Senior Advocate of Nigeria, Rotimi Jacobs, at the ongoing trial of Ibeto and his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, over an alleged N4.8 billion fraud. The EFCC had filed a 10-count charge of conspiracy, fraud, forgery and fraudulent use of documents against the businessman and his companies.…
A COALITION of Civil Society Organizations has called on politicians to exercise restraints in their criticism, intimidation and harassment of the country’s electoral body, the Independent National Electoral Commission (INEC). The coalition, during a peaceful protest led by the Convener, Dr. Wisdom Ohalete at the headquarters of the INEC in Abuja on Thursday also expressed worry over the orgy of “needless harassment” of the judiciary by political actors, noting that it undermined the sanctity of the nation’s electoral system and the independence of the judiciary. The coalition staged the protest in response to one led by a group which called…
FORMER President, Olusegun Obasanjo, has disclosed that the issue of releasing Nnamdi Kanu was not part of his discussion with the South-East governors in Enugu State on Tuesday. The former President and Chief Emeka Anyaoku met with the governors on their own invitation to discuss regional development issues. According to a statement on Wednesday by Special Assistant on Media to the former president, Kehinde Akinyemi, the purported release of the leader of the proscribed Indigenous People of Biafra (IPOB) by the Federal Government was not part of the discussion. “The meeting with them was at my invitation and of Chief…
PRESIDENT Bola Tinubu has extended his condolences to the family of veteran journalist, Malam Kabir Yusuf, who passed away on Tuesday. According to a statement by Presidential spokesman, Ajuri Ngelale, Yusuf, a veteran journalist, was the Federal Capital Territory correspondent for The Triumph Newspaper and Radio France Internationale Hausa. He covered the State House for many years until his passing. The President prayed for the repose of the soul of the departed and comfort to his family in this time of grief and always. The Editor-in-Chief of RFI Hausa Bashir Ibrahim, in a Facebook post on Wednesday, said, Kabiru Yusuf…
THE cross examination of the First Prosecution Witness, PW1, Abdulkadir Abbas, in the ongoing trial of Binance Holdings Limited and its Executive Officer, Tigran Gambaryan, before Justice Emeka Nwite of the Federal High Court, continued on Tuesday, July 2, 2024. The Economic and Financial Crimes Commission (EFCC) is prosecuting Gambaryan alongside Binance Holdings Ltd on a five-count charge bordering on alleged tax evasion, currency speculation and money laundering to the tune of $34,400,000. At the resumed cross-examination on Tuesday, Abbas told the court that Binance activities did not conform to the Security and Exchange Commission (SEC)’s extant law as stipulated.…
CHAIRMAN and Chief Executive Officer of Dangote Group, Aliko Dangote, has criticised the latest increment of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN). At the opening session of a three-day summit Organised by the Manufacturers Association of Nigeria (MAN) at the Banquet Hall of the State House, Abuja, on Tuesday, Dangote said businesses could not cope with the current rate. In May, following a two-day meeting, CBN’s Monetary Policy Committee (MPC) agreed to increase the Monetary Policy Rate (MPR) from 24.75 per cent to 26. 25 per cent. “The Monetary Policy Committee (MPC)…
PRESIDENT Bola Ahmed Tinubu has approved the reappointment of Abdul Mutallab Muktar as the Managing Director (MD) and Chief Executive Officer (CEO) of Family Homes Funds Limited (FHFL). This was disclosed in a statement by presidential spokesperson, Ajuri Ngalale on Tuesday. Mukhtar was initially appointed by Former President Buhari as MD in January 2023. Muktar served as the Senior Special Assistant to former President Buhari in the Office of the Chief of Staff working as part of the team of Professionals overseeing the implementation of some of the main objectives of the administration including the development of strategic national infrastructure…
THE House of Representatives on Tuesday alleged that the female suicide bombers responsible for the killing of scores in Borno State on Saturday were imported. The lawmaker said this in a resolution after considering a motion of urgent national importance by Ahmed Jaha. While condemning the attack, Jaha stated that findings showed that bombers were “recruited, brainwashed, and imported from outside the state” to carry out the suicide act in Gwoza. The attack had claimed over 30 lives. He further argued that the bombings underscored the ongoing threat of terrorism in the country. The lawmaker informed the house that more…
THE Nigeria Customs Service said its operatives intercepted nine containers carrying offensive items including arms, ammunition, Illicit drugs and second-hand clothes worth N13.9 billion. The Comptroller-General, NCS, Adewale Adeniyi disclosed this on Monday while addressing journalists in Onne Port, Rivers State. Adeniyi said one of the containers which originated from Turkey, based on the number of risk factors associated with the importation, became a subject of interest to the service. Giving details of the container, the CG said, “We have followed its sail across continents and we’ve benefitted immensely from credible information through our collaboration with intelligence communities both at…
THE Federal High Court sitting in Lagos on Monday listened to the evidence of the 13th prosecution witness in the trial of the former Governor of Ekiti State, Ayodele Fayose, for an alleged N6.9bn fraud and money laundering. The witness, a former operative of the Economic and Financial Crimes Commission (EFCC), Abubakar Madaki, told Justice Chukwujekwu Aneke that Fayose, did not personally make any of the financial transactions relevant to the charge before the court. Fayose and his company, Spotless Investment Ltd, are being prosecuted by the EFCC, before the court, on an 11 counts. At the last date of…
THE Lagos State Commissioner for Health, Prof Akin Abayomi, on Sunday, disclosed that 25 cases of severe gastroenteritis confirmed to be caused by cholera were reported at Kirikiri Medium Security Prison. The development was against the claim by the Nigerian Correctional Service on Wednesday, June 26, 2024, that the custodial centres nationwide were free of cholera. The NCoS spokesman, Abubakar Umar, speaking with this newspaper, had stated that the routine hygienic measures put in place in the correctional centres had helped to keep cholera out. However, in a statement on Sunday, signed by the Director of Public Affairs, Lagos State…
POLICE authorities in the Federal Capital Territory (FCT) have ordered a clampdown on vehicles without number plates. In a Saturday statement, the FCT Police Command spokesperson Josephine Adeh said the move is part of efforts to curb crime in the area. “The FCT Police Command has observed with serious concern the manner in which motorists drive around the territory with single or no number plates and car dealers beyond the stipulated time, which is 6:00 am to 6:00 pm. Section 25 (5) of the Federal Capital Territory Road Transport Regulation Act, 2005,” the statement read. “It is no news that…
THE Nigeria Labour Congress (NLC) has faulted the comments credited to governors that states should determine their minimum wage in their domains. “This notion is not only dictatorial but also undermines the very essence as well as the model adopted for creating a national minimum wage in Nigeria,” the NLC said in a Friday statement by its Head of Information and Public Affairs Benson Upah. Labour unions, the government, and the private sector have been locked in negotiations over a new minimum wage for months. The tripartite committee on the new minimum wage had proposed N62,000 as a new minimum…
A DEVASTATING fire outbreak has struck the Karu Market in the Federal Capital Territory, leaving a trail of destruction and loss. As of the time of filing this report, goods and properties worth millions of naira have been reduced to ashes, leaving traders and shoppers in a state of despair. The FCT Fire Service, with a station in Karu Market, responded to the incident, however, faced challenges in accessing the scene due to the large crowd of people flocking to the area. Despite the challenges, soldiers were on ground to maintain order and ensure the safety of everyone involved. Preliminary…
MALAM Nasir El-Rufai, former governor of Kaduna State, hosted Senator Rabiu Musa Kwankwaso, at his Abuja residence, on Thursday. El-Rufai hosted the New Nigerian Peoples Party (NNPP) Presidential Candidate, a few days after visiting former President Muhammadu Buhari in Daura, Katsina State. Although an All Progressives Congress (APC) chieftain, El-Rufai has been relating with opposition figures lately. In March, he visited national chairman of the Social Democratic Party (SDP) in Abuja, damning the consequence. The former Minister of the Federal Capital Territory (FCT) was on his way to securing a ministerial appointment in the government of President Bola Tinubu but…
THERE is currently disquiet among the junior officers of the Nigerian Correctional Service over the failure of the authorities to provide them with the service’s new uniform free as they did for their senior colleagues. The affected officers have also raised the alarm over the decision of the authorities to make the wearing of the new uniform a condition for them to take part in a promotion examination scheduled for between Monday, July 1, 2024, and Saturday, July 6, 2024. Some of the affected personnel who spoke with this newspaper on Thursday noted that in uniformed organisations, the rank and…
THE Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, has ordered the arrest of two officers of the Commission allegedly involved in the manhandling of a female staff of Regional Hotel, Ojo, Lagos. In a video trending online, the EFCC officials who dressed in mufti were seen badging into one of the rooms of the hotel. An unidentified lady said to be a worker at the hotel was seen trying to open the door from inside when the men opened it forcefully. One of them was seen slapping the lady reportedly before he ordered her…
AS Kano emirate tussle lingers, traditional and official flag has been hoisted at the Nassarawa mini palace where the 15th Emir of Kano, Aminu Ado Bayero currently occupies. This newspaper reports that the flag stands as a symbol of authority and signifies the presence of an emir once raised. It is often raised every day by 6am and taken down by 6pm and remains down when the emir is officially outside the palace or travels. It was observed that the flag was set for hoisting on Wednesday morning when the iron rod was installed but the flag was brought later…
THE immediate past governor of Kogi state, Yahaya Bello, has asked the Chief Judge of the Federal High Court, Justice John Tsoho, to transfer his trial in alleged money laundering to Lokoja. Bello said that he preferred to be arraigned in Lokoja, being the place the alleged money laundering offence was committed. At a resumed sitting on Thursday, Bello, represented by his counsel, Adeola Adedipe SAN, informed Justice Emeka Nwite that a letter requesting for the transfer of the trial had already been delivered to the Chief Judge for his administrative decision. Specifically, Adedipe said the request for Lokoja was…