Author: Abdullahi Maitama Sani

THE trial of a former Governor of the Central Bank, Godwin Emefiele, was stalled on Friday after his lawyers sought an adjournment following the service of additional proof of evidence served on them in court by the Economic and Financial Crimes Commission (EFCC). The trial judge, Justice Rahman Oshodi, granted the adjournment after he agreed with the defence team that the reasons given for the adjournment had merit. The judge adjourned till May 9th for a continuation of the cross-examination of the second prosecution witness, John Ayoh, a former Director of Information Technology of the CBN. Emefiele is facing a…

A FEDERAL High Court sitting in Kano issued an order stopping the National Electricity Regulation Commission (NERC) and the Kano Electricity Distribution Company (KEDCO)from implementing the new increased electricity tariff for Band A consumers, News Point Nigeria reports. Recall that NERC recently mandated electricity distribution companies to charge Band A consumers increased tariffs in a move aimed at ensuring a stable power supply for those who can pay for it. However, many Nigerians accused NERC of migrating most consumers to Band A even as they complained of epileptic supply. But, on Thursday, presiding judge, Justice A M Liman gave a…

THE Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, narrated an incident where a 17-year-old successfully hacked into his personal computer and bank account while being interrogated at his office in Lagos. The anti-graft agency chairman made this known in a chat with editors at the EFCC Headquarters, Jabi, Abuja, last Tuesday. Olukoyede recounted inviting the 17-year-old for questioning at his own office, only to witness the young hacker effortlessly bypass the security measures of his locked computer right before his eyes. He said, “I brought into my Lagos office a seventeen-year-old boy who is studying History and…

THE Federal Government says although the Tripartite Committee On National Minimum Wage is yet to conclude its negotiations, workers will not lose anything as the new minimum wage will take effect from May 1, 2024. The Minister of State Labour, Nkeiruka Onyejeocha, stated this on Wednesday while addressing Nigerian workers at the May Day celebration in Abuja. She said it is regrettable that the new national minimum wage is not ready before today, but that a wide consultation is ongoing to ensure that the document is out together as soon as possible. The Nigeria Labour Congress (NLC) and the Trade…

THE House of Representatives, on Tuesday, passed a resolution to invite the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri; and his counterpart for the gas sector, Ekperikpe Ekpo; over the fuel scarcity being experience in the country.  The green chamber also summoned the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, over petrol shortages in the country. This followed a motion of urgent national importance by a member of the House, Umar Ajilo, raising concerns over lingering queues at petrol stations nationwide. The House expects the ministers and the NNPCL boss to…

THE Federal Government has appealed to the United States of America to repatriate more illicit funds transferred from Nigerian officials through its banking system. The Minister of Foreign Affairs, Yusuf Tuggar, appealed in his remarks at the 6th Session of the Nigeria-US Bi-National Commission in Abuja on Monday. Speaking at the event, Ambassador Tuggar, represented by the Permanent Secretary, Ministry of Foreign Affairs, Adamu Lamuwa emphasised the need for increased support from the U.S., citing $308 million as insufficient compared to Nigeria’s losses from illegal fund transfers over the years. He reiterated the Nigerian government’s commitment to utilising these funds…

PRESIDENT Bola Tinubu has secured a $600m investment from Danish shipping and logistics firm A.P Moller-Maersk, the presidency said on Sunday. The deal is to help in expanding port infrastructure to accommodate more container shipping services in Nigerian ports. Chairman of A.P Moller-Maersk, Mr. Robert Maersk Uggla, disclosed the decision during a meeting with President Tinubu on the sidelines of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh, Saudi Arabia, on Sunday, presidential spokesman Ajuri Ngelale said in a statement. ”We have seen a significant opportunity for Nigeria to cater for larger…

PRESIDENT Bola Tinubu has insisted that his administration’s decision to remove the petrol subsidy was very necessary to prevent the country from going bankrupt. Tinubu announced the removal of subsidy on petrol the day he was inaugurated into office with the popular “subsidy is gone” speech. The action, however, made prices of commodities to rise through the roof, increasing hardship in the country which has made some of his critics condemn the subsidy removal as a policy not well thought out. But speaking as one of the panelists at the ongoing World Economic Forum in Riyadh, Saudi Arabia this morning,…

PRESIDENT Bola Tinubu has appointment Dr. Innocent Bariate Barikor as the Director-General of the National Environmental Standards and Regulation Enforcement Agency (NESREA). The President has also appointed of Prince Ebitimi Amgbare as the Managing Director/CEO of the Niger Delta River Basin Development Authority (NDRBDA). These appointments were made known in a statement signed by the President’s spokesperson, Ajuri Ngelale, on Friday. He said the President expects that the new heads of these important agencies will discharge their duties with utmost fidelity to the nation and unfailing adherence to the highest standards of professionalism, accountability, and excellent service to the people…

A FINANCIAL data and media company, Bloomberg, has ranked the Dangote Refinery above the top 10 biggest refineries in Europe. According to data compiled by the business news platform, the refinery has more capacity than many European ones. The $20bn-worth refinery located in Lekki-Epe Expressway, Lagos State, can refine 650,000 barrels of petroleum products per day. The report sighted by our correspondent on Thursday stated that this is over 246,00bpd capacity, more than Shell’s Pernis Refinery, which is located in the Netherlands. It added that the Pernis Refinery, which has an installed capacity of 404,000bpd, is the biggest in Europe.…

HAMMA Adama Bello, the prosecution Witness Eight, (PW8) in the trial of former Head of Service (HoS), Winifred Oyo-Ita, on Thursday, narrated before Justice James Omotosho of the Federal High Court, Maitama, Abuja, how the defendant and her subordinates allegedly diverted public funds into their private companies. Oyo-Ita, the first defendant is facing criminal prosecution by the Economic and Financial Crimes Commission (EFCC) alongside her special assistants, Ugbong Okon Effiok (seventh defendant), Garba Umar (fourth defendant) and six companies: Frontline Ace Global Services Limited, Asanaya Projects Limited, Slopes International Limited, U and U Global Services Ltd, Prince Mega Logistics Ltd…

THE Federal Government says the Nigerian Civil Aviation Authority (NCAA) will carry out a comprehensive audit of Air Peace, Max Air, Azman, Rano Air and all local airlines in the country. The Minister of Aviation and Aerospace Development, Festus Keyamo, stated this on Channels Television’s Politics Today programme on Thursday monitored by News Point Nigeria. He said beyond the suspension of Dana Airlines and the ongoing audit of the airline, all other carriers in the country would be audited to guarantee the safety of passengers and the health of the civil aviation industry. Keyamo, who assumed office last August following…

THE telecommunications companies operating in Nigeria notably Glo, MTN, Airtel and 9Mobile are asking the federal government to facilitate constructive dialogue in the industry. According to the telcos, the current price control mechanism is not in tandem with the economic realities, thus seeking the government’s intervention in order to address pricing challenges. The four telecommunications giants said they were the only ones that have not reviewed their prices which threaten the industry’s sustainability and possibly erodes investors’ confidence. They made this known in a joint statement by the Association of Licensed Telecommunications Operators of Nigeria (ALTON) and Association of Telecommunication…

FORMER Minister of Aviation, Hadi Sirika, has spent his second night in the custody of the Economic and Financial Crimes Commission, over an ongoing N8,069,176,864.00 money laundering probe. This was as the anti-graft commission began a probe into the alleged fraud involved in the botched Nigeria Air project. Top EFCC sources privy to the interrogation but were not authorised to speak publicly, confirmed that the EFCC interrogators grilled Mr Sirika over the botched Nigeria Air project that has stirred controversy across the country. “The interrogators are also probing Mr Sirika over the controversial Nigeria Air project that failed. Though the…

PRESIDENT Bola Tinubu has approved the takeoff of the first phase of the Consumer Credit Scheme to facilitate the purchase of houses and cars by working Nigerians. In a statement on Wednesday, presidential spokesman Ajuri Ngelale said the Consumer Credit Scheme will enhance the quality of life citizens by allowing them to “access goods and services upfront, paying responsibly over time”. “It facilitates crucial purchases, such as homes, vehicles, education, and healthcare, essential for ongoing stability to pursue their aspirations,” the statement added. “Through responsible repayment, individuals build credit histories, unlocking more opportunities for a better life. Additionally, the increased…

THE Economic and Financial Crimes Commission (EFCC) is set to arraign former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, for approving the printing of N684.5m notes at the rate of N18.96bn. In the fresh 4 count charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari. The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation. Our…

THE minstry of Foreign Affairs has approved the appointment of 12 Consuls-General, five Chargè D’ Affairs for 13 Countries, News Point Nigeria gathered. Confirming the appointments in a statement, Tuesday, the Special Assistant on Media and Communications Strategy to the Honorable Minister of Foreign Affairs, Alkasim Abdulkadir, said, the Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar has called on the newly appointed Chargé D’affaires and Consuls-General to be good ambassadors of Nigeria. According to the statement, the minister further stressed that as seasoned career diplomats they should shun the act of politicking and recommit themselves to their calling of diplomacy…

POWER distribution companies in Nigeria are currently being unbundled along state lines due to their large sizes that often result in efficiency and ineffectiveness, the Federal Government declared on Monday. It stated that the privatisation of the firms would not be reversed, but stressed that the Discos would be broken into more efficient structures along state lines so as to be able to deliver on their mandates. This came as the Federal Government also ordered the sale of Discos that have been taken over by banks and the Assets Management Corporation from its original investors/owners. Currently, four Discos are under…

PRESIDENT Bola Tinubu will on Tuesday, April 23, 2024 depart Abuja for the Kingdom of the Netherlands on an official visit. The President will also attend the World Economic Forum (WEF) meeting scheduled for April 28-29 in Riyadh, Saudi Arabia. Presidential spokesman, Ajuri Ngelale, in a statement on Monday, said, “On the invitation of the Prime Minister of the Kingdom of the Netherlands, Mark Rutte, President Tinubu will engage in high-level discussions with the Prime Minister, as well as hold separate meetings with His Royal Majesty, King Willem-Alexander and Queen Maxima of the Kingdom. “The Queen is the United Nations…

PRESIDENT Bola Tinubu has reiterated the call for the establishment of a regional standby force that will serve as a rapid deployment tool to combat both existing threats and the ones that could emerge. It will also serve as a strong deterrence to large-scale weapon smuggling. The President gave the call at the opening ceremony of the African Counter-Terrorism Summit in Abuja on Monday. According to him, terrorism must be banished, as the menace threatens farmers from their farms, children from their schools, and businesswomen from their sources of livelihood, thereby putting society and government into confusion and disarray. He…