Author: Abimbola Daniels

THE Central Bank of Nigeria and the Nigerian Communications Commission have directed Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute. The directive, titled “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators,” was exclusively obtained by our correspondent on Monday. This move coincides with the report by this newspaper, which revealed that telecom operators had called for a structured payment plan from regulators to address the mounting debt that has caused significant…

THE Independent Petroleum Marketers Association of Nigeria has said that petrol is going to sell at N935 per litre beginning from Monday (today) based on the latest arrangement with the Dangote Petroleum Refinery. IPMAN’s National President, Maigandi Garima, said the reduction in Dangote refinery’s ex-depot price for petrol and the uniform arrangement being put in place, would enable marketers to sell at N935 in their outlets nationwide, incurring a cost of N36 on logistics. “Dangote refinery has brought another new arrangement of loading and pricing by which marketers would pay a fixed ex-depot price of N899.50k. “The refinery is running…

THE Dangote Refinery said it is partnering with MRS to sell Premium Motor Spirit or petrol at ₦935 per litre nationwide at its retail outlets. The development comes after the Nigerian National Petroleum Company Limited also slashed prices below ₦1,000 per litre. In a statement posted on his X account on Saturday, also said the President of the Dangote Industries Limited, Aliko Dangote commended President Bola Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to a reduction in prices of petroleum products in the country. “To provide succour to…

THE Inspector General of Police, Kayode Egbetokun, has said that the days of armed robbery and bank robbery in Lagos State are long gone. Speaking at the Lagos State Security Trust Fund 18th Annual Town Hall Meeting on Security on Thursday, Egbetokun noted that only one bank robbery succeeded in the state since 2007. “What we are doing here today is the usual assistance that the state government has been giving to the police in the state. Without the assistance that the police receive from the government, we will not be able to do the much we are doing in…

DANGOTE Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product to N899.50k per litre nationwide. This was announced in a statement, on Thursday morning. The company said the decision was taken to “provide much-needed relief for Nigerians ahead of the holiday season”. “Africa’s first privately-owned oil refinery, which previously lowered the price to N970 per litre on November 24, has now announced a new price of N899.50 per litre. This reduction is designed to ease transport costs during the festive period,” read the statement signed by the Group’s Chief Branding and Communications Officer, Anthony Chiejina. He…

THE Oyo State Police Command says it is investigating the circumstances surrounding the alleged death of 32 children during a stampede at a funfair in Ibadan, the state capital, on Wednesday. This newspaper gathered from multiple eyewitness accounts that the stampede occurred when participants rushed to gain access to the venue of the event reportedly organised by the ex-queen of the Ooni of Ife, Prophetess Naomi Shikemi, and an Ibadan-based broadcaster, Oriyomi Hamzat. Investigations by this newspaper also showed that the victims were stampeded to death while trying to break through the main gate of the school. It was further…

PRESIDENT Bola Ahmed Tinubu has arrived in Lagos for his Christmas and New Year celebration. The President arrived at the Presidential Wing of the Murtala Mohammed International Airport, Lagos, at exactly 3:23 pm on Wednesday, December 18. Presidential spokesman, Bayo Onanuga, confirmed this in a statement on Wednesday. On arrival in Lagos, President Tinubu was received at the airport by Governor Babajide Sanwo-Olu; his deputy, Dr Femi Hamzat; members of Lagos State Cabinet as well as leaders of the ruling All Progressives Congress (APC) in Lagos. Before departing Abuja, the president presented the 2025 Appropriation Bill to a joint session…

THE Lagos State Government has shut down several establishments, including churches, hotels, and entertainment venues, over violations of noise pollution regulations and other environmental infractions. The enforcement action was carried out by the Lagos State Environmental Protection Agency (LASEPA), as disclosed on the agency’s X account on Monday. According to the agency, the infractions pose significant risks to public health and safety. The affected locations include Shomolu, Oniru Victoria Island, Jakande-Lekki, Badore Ajah, Lekki-Epe Expressway, Sangotedo, Lekki II, Ogombo, and Lekki Phase 1, among others. These businesses, including churches, hotels, lounges, and restaurants, were found to be contributing to excessive…

UNITED Bank for Africa (UBA) through UBA Foundation, its corporate social responsibility arm, has donated the sum of N500 million to the Lagos State Security Trust Fund (LSSTF), as part of its continued commitment to secure environment for individuals and businesses. The N500m cheque was presented to the Lagos State Governor, Babajide Sanwo-Olu, by the UBA Group Chairman, Tony Elumelu, who was accompanied by the bank’s Deputy Managing Director, Mr. Muyiwa Akinyemi, at the State House, Marina, Lagos on Sunday. Speaking during the presentation, Elumelu reiterated the bank’s dedication to supporting initiatives that ensure the safety and prosperity of communities…

THE Dangote refinery has exported Premium Motor Spirit (petrol) to Cameroon, Angola, Ghana, and South Africa in the past few weeks. The Vice President of Oil and Gas, Dangote Industries Limited, Devakumar Edwin, disclosed this while playing host to a delegation from the Japanese Business Community in Nigeria, led by Japan’s Ambassador-designate to Nigeria, Suzuki Hideo. In a statement on Sunday, the company’s spokesman, Anthony Chiejina, quoted Edwin as confirming that products from the refinery meet international standards and are already being exported globally. “In recent weeks, we’ve exported petrol to Cameroon, Ghana, Angola, and South Africa, among others. Diesel…

THE Independent Petroleum Marketers Association of Nigeria has begun lifting Premium Motor Spirit (petrol) from the Dangote Petroleum Refinery, The PUNCH can report. This follows an agreement reached with the refinery last month by IPMAN. Our correspondent learned that IPMAN members have so far lifted millions of litres of petrol from the Dangote refinery located in the Lekki free trade zone in Lagos. The National Publicity Secretary of IPMAN, Chinedu Ukadike, confirmed in an interview with our correspondent that the lifting of petrol from the Dangote refinery started in late November. According to Ukadike, independent marketers started the prior loading…

HEALTHCARE workers in Lagos State, under the aegis of the National Association of Nigeria Nurses and Midwives, the Nigeria Union of Allied Health Professionals, the Joint Health Sector Unions and the Medical and Health Workers Union of Nigeria have announced a three-day warning strike. The strike, which is set to begin on Wednesday, December 11, and end on Friday, December 13, 2024, is to demand the implementation of the adjusted Consolidated Health Salary Structure for health workers in the state. In separate letters addressed to their members and the Lagos State Head of Service, the unions expressed frustration over the…

THE Central Bank of Nigeria’s electronic payment statistics have shown that, between January and June 2024, 252.06 million transactions, which amounted to N2.19tn, were carried out via Unstructured Supplementary Service Data codes. This is a significant milestone compared to the full-year data for 2023, which showed that N4.84tn was transacted via USSD codes across 630.6 million transactions. The N2.19tn recorded in the first half of 2024 represents 45.3 per cent of the total value of USSD transactions in 2023 and 40 per cent of the total transaction volume for the same year. Initially developed by telecom companies for providing airtime…

DESPITE the commencement of petrol production by two major refineries in Nigeria in the last three months, oil marketers have continued to import and distribute the product nationwide. This newspaper gathered on Wednesday that marketers imported 2.3 billion litres of petrol between September 11 and December 5, 2024. The continued importation of petrol is contrary to a public announcement by some group of marketers who earlier stated their intention to halt petrol imports and focus on domestic supply. The local refineries are the 650,000 barrel per day capacity Dangote Petroleum Refinery located in Lagos and the 210,000bpd capacity Port Harcourt…

INTERNATIONAL movie streaming platform Netflix has exited Nigeria eight years after it launched in 2016, but it has been kept away from the public while major stakeholders in the Nollywood movie industry were aware. Netflix exited Nigeria in November 2024, ending the financial support streaming platforms provided for the production of Nigerian content. Netflix was said to have quietly called their frequent collaborators and told them the sad news that they would be cutting back on acquiring Nigerian content. However, the reason for Netflix’s action is yet to be known as the platform is yet to provide an official statement.…

THE Group Chairman, United Bank for Africa (UBA) and Founder, Tony Elumelu Foundation (TEF), Tony Elumelu, has passionately called for a change of long-standing workplace stereotypes that continue to hinder women’s professional growth and potential. He said this while delivering a compelling address during a meeting with the Association of Professional Women Bankers (APWB), at the UBA Head office in, Marina, Lagos on Monday. Elumelu, who highlighted the exceptional abilities of women in business, addressed the additional obstacles women encounter, such as imposter syndrome and unfair stereotypes that portray them as “too emotional” or “sentimental” in professional settings. “From my…

AS PART of President Bola Ahmed Tinubu’s state visit to France, the Chairman of UBA Group, in the presence of President Tinubu and the President of France, Emmanuel Macron, signed a landmark business cooperation agreement with the French Finance Minister, Antoine Armand. The agreement is a significant indication of support by the French Government for the development of UBA’s full banking operations in France. Speaking at the signing ceremony, Tony Elumelu, the Chairman of UBA Group commented: “This partnership reinforces our commitment to seamless international banking services for our customers, not just across the 11 Francophone African countries we serve,…

THE 7th Prosecution witness, Mr John Adetola, who is testifying in the case against the former Governor of Central Bank of Nigeria (CBN), has told a Lagos High Court sitting in Ikeja how he collected the sum of $400,000 on behalf of Godwin Emefiele. Adetola, who identified himself as an Executive Assistant to Emefiele, also narrated how he handed over the money to Emefiele. He gave this testimony on Thursday while answering questions from the counsel to the Economic and Financial Crimes Commission (EFCC) prosecutor, Senior Advocate of Nigeria, Mr Rotimi Oyedepo. Adetola, told trial judge, Justice Rahman Oshodi that…

NOVA Bank has achieved a major milestone in its commitment to safeguarding customer data and digital operations by attaining the globally recognized ISO 27032 Cybersecurity Standard certification. This significant achievement positions NOVA Bank among the elite financial institutions in Nigeria with such a distinction. The ISO 27032 certification focuses on fortifying cybersecurity measures, ensuring robust protection for data, systems, and online transactions amid an ever-evolving cyber threat landscape. In addition to this achievement, NOVA Bank is already certified in ISO 27001 for Information Security Management and BCMS 22301 for Business Continuity Management, further underscoring its dedication to operational excellence and…

GOVERNOR Babajide Sanwo-Olu of Lagos State has suspended his Senior Special Assistant on Print Media Wale Ajetunmobi. This was owing to Ajetunmobi’s “misrepresentation of facts on his personal ‘X’ account on a past incident,” the governor’s Special Adviser on Media and Publicity Gboyega Akosile said in a short statement on Tuesday. In a now-deleted post on X on November 23, Ajetunmobi claimed those who burnt a media outlet during the 2020 #EndSARS protests were “hunted down and executed”. “The full story of people who burnt down TVC in 2020 will be told one day, with gory clips and images. One…