Author: Abimbola Daniels

A HUMAN rights group identified as the “Take It Back Movement” on Monday hit the streets of Lagos State to protest against the soaring price of food and the high cost of living in the country. This protest was held against the warning issued by the Lagos State Commissioner of Police, Adegoke Fayoade, on Sunday. The protesters were seen carrying placards of various inscriptions at Ojuelegba under bridge area of the state to make their grievances known on the current economic hardship across the country. The protest is coming preparatory to the organised labour’s billed to start on Tuesday. The…

THE Comptroller General of Customs, Adewale Adeniyi, has said that the distribution of seized food items would commence on Friday nationwide. Adeniyi, while speaking with journalists on Thursday in Lagos, warned that the distributed seized food items was not to be resold. Adeniyi also warned that customs officers were banned from partaking in the exercise, adding that the rice would come in 25kg, which would be sold for N10,000. Recall that the NCS said it had concluded plans to commence the direct distribution of seized food items to Nigerians. The National Public Relations Officer of the service, Abdullahi Maiwada, disclosed…

AS Nigerians lament the high cost of living crisis in the country, Governor Babajide Sanwo-Olu has said that Lagos State civil servants from Level 1 to 14 will come to work physically three times a week and work virtually for the two other days to ease economic pressure in the state.  The governor, who stated this during a media chat on Thursday, also announced a 25% reduction on all public transportation in the state. Sanwo-Olu said, “The first thing that we will be doing in the state going forward is that we want to start with our own public servants,…

SOME reputable financial experts have replied a chieftain of the Peoples Democratic Party (PDP), Bode George, who accused UBA, Access Bank and other top bank CEOs of contributing to bank rottenness in Nigeria. According to Femi Awoyemi, founder of Proshare and Ugodre Obi-Chukwu, CEO of Nairametrics, George’s comments clearly highlighted his lack of understanding about the banking sector and how it works. Bode George had alleged that Wigwe and other Bank CEO’s such as UBA’s CEO, Tony Elumelu and former CBN governor, Godwin Emefiele all made billions from the corruption in the Nigerian banking industry. But responding in two separate…

ACCESS Holdings has confirmed the death of its Group Chief Executive Officer (CEO) Herbert Wigwe. Wigwe died in a helicopter crash on Friday with his wife, son, and a former Group Chairman of the Nigerian Exchange Group Plc, Abimbola Ogunbanjo. The bank in a statement on Sunday signed by the Company’s Group Secretary, Sunday Ekwochi, confirmed the unfortunate incident. “It is with deep sadness that the Board of Directors of Access Holdings Plc (‘the Company’) announces the passing of Dr. Herbert Wigwe, CFR, the Company’s founding Group Chief Executive Officer and former Group Managing Director of its flagship subsidiary Access…

ACCESS Holdings has said it is yet to confirm if its Group Chief Executive Officer, Mr Herbert Wigwe, was involved in an airplane crash in the U.S. on Saturday. Access Holdings said this in a public announcement issued on Sunday in Lagos State. The public announcement was issued by the Head of Media Relations at Access Holdings, Mr Kunle Aderinokun. Aderinokun was reacting to reports on the death of Wigwe in the announcement. He assured Nigerians that the bank was working with the U.S. authorities to gather accurate information. Aderinokun acknowledged the lack of specific details but assured stakeholders that…

HERBERT Wigwe, the immediate past Managing Director of Access Bank and current Chief Executive Officer of Access Holdings, is dead. Wigwe was reportedly on board a chopper with his wife, son and three other passengers when the unfortunate incident happened at California. They were reportedly heading for Las Vegas to watch Super Bowl, the annual league championship game of the National Football League (NFL) of the United States. The New York Times has confirmed the incident but kept the identities of the passengers. However, sources in the banking industry confirmed to Daily Trust that the bank chief was on board…

A FORMER member of the House of Representatives who represented the Ika Federal Constituency of Delta State, Dr Cairo Ojougboh, is dead. The politician was said to have passed away on Wednesday evening while watching the AFCON semifinals match between Nigeria and South Africa. A source close to the politician said, “Cairo Ojougboh, a medical doctor died during the Nigeria vs.South Africa match. “The incident happened when the penalty was awarded against Nigeria. Dr Ojougboh was said to have shouted and slumped due to massive heart attack when SA scored.” As of the time of filing this report, his family…

THE Federal High Court in Lagos on Wednesday ordered the Federal Government to fix the prices of goods and petroleum products within seven days. Justice Ambrose Lewis-Allagoa specifically ordered the government to fix the price of milk, flour, salt, sugar, bicycles, and their spare parts, matches, motorcycles and their spare parts, motor vehicles and their spare parts as well as petroleum products, which includes diesel, Premium Motor Spirit and kerosene. The judge gave the order while delivering judgment in a suit No FHC/L/CS/869/2023, filed by human rights activist, Mr. Femi Falana, against the Price Control Board and the Attorney-General of…

THE Central Bank Governor, Olayemi Cardoso, has explained that the ongoing initiatives to relocate departments and personnel to other branches are responses to the current “overpopulation” at the headquarters. Cardoso stated these in an interview with Arise TV, which was monitored by News Point Nigeria on Monday. The governor, lamenting the sensational slant to the issue said the process was normal for any vibrant entity like a central bank. According to him, the move was to align the bank’s structure with its functions and objectives and redistribute skills to ensure a more even geographical spread of talent. There has been…

JUSTICE Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Friday, adjourned till March 25, 2024 further hearing in the trial of Mamman Nasir Ali, son of a former PDP National Chairman, Ahmadu Ali, and Christian Taylor, who are facing trial over an alleged N2.2 billion oil subsidy fraud. The Lagos Zonal Command of the Economical and Financial Crimes Commission (EFCC) had, on Friday, March 24, 2023, re-arraigned the two defendants alongside Nasaman Oil Services Limited on an amended 49-count charge bordering on conspiracy to obtain money by false pretence contrary to Section 8 and 1(3) of…

THE Independent National Electoral Commission (INEC) has declared the candidate of the All Progressives Congress as winner of the Surulere Federal Constituency 1 By-Election. Declaring the results, the Returning Officer for the bye-election, Prof Simeon Adebayo, revealed that the APC Candidate scored a total of 11, 203 votes. Laguda, a former chairman of the All Progressives Congress in the Surulere Local Government replaces Femi Gbajabiamila who was appointed Chief of Staff to President Bola Tinubu. Gbajabiamila was the Speaker of the House of Representatives between 2019 and 2023 and had won his re-election into the House for the sixth consecutive…

FIRST Bank of Nigeria Holdings Plc has appointed the 20th richest man in Africa, Femi Otedola, as its new Chairman. FBN Holdings, in a notice to the Nigerian Exchange Limited and the investing public, said the decision was made at the meeting of the Board of Directors of the company held on Wednesday. Otedola, also the Chairman of Geregu Power, succeeds the outgoing Chairman of the FBN Board, Ahmad Abdullahi. Otedola was appointed to the Board of FBN Holdings Plc on August 15, 2023 as a Non-Executive Director. Otedola was recently ranked by American business magazine, Forbes, as the 20th…

OYO State Governor, Seyi Makinde, on Monday, lamented that out of the three major candidates who contested the 2023 presidential election, only the Peoples Democratic Party candidate, Atiku Abubakar, has not called or sent a message to him to commiserate with the people of the state over the recent explosion in Ibadan, the state capital. Five people were confirmed dead while 77 sustained varying degrees of injuries and 58 houses were damaged during the explosion that rocked Adeji, Old Bodija in Ibadan. Makinde made his position known in Ibadan while receiving the presidential candidate of the Labour Party, Peter Obi,…

THE Ogun State police command has confirmed the release of the People’s Democratic Party (PDP) Chairman in Lagos State, Philip Aivoj, after spending four days with his kidnappers. According to a police spokesperson in the state command, Omolola Odutola, the PDP chieftain was freed in the early hours of Monday, although she could not give details surrounding his release. The Lagos PDP chairman was abducted, alongside some other party officials, by gunmen around Ogere on the Lagos-Ibadan Expressway on Thursday last week. They were returning from the party’s stakeholders’ zonal caucus meeting convened by the Oyo State Governor, Seyi Makinde,…

A 45-YEAR-OLD child trafficker, Alimot Haruna, has confessed selling off over 42 children into child labour in the last five years. The suspect was arrested on Wednesday by a team of policemen from Ijora Badia Police Station of the Lagos Police Command. It was learnt that the suspect whose operational base is in Ilorin, Kwara state capital, had been on the police wanted list over similar crime. The suspect in her confessional statement said she operates from her base in Molete village in Kwara. “I have sold over 42 children to different clients in the past. Most of my clients…

THE Nigeria Civil Aviation Authority (NCAA), has suspended the Permit for Non-Commercial Flight (PNCF) of Mattini Airline Services Limited, following the the runway excursion involving its Challenger CL 601 aircraft with 10 persons onboard in Ibadan on Friday. The NCAA in a statement signed by its Director of Public Affairs and Consumer Protection of NCAA, Mr Michael Achimugu, noted that the Nigerian Safety Investigation Bureau (NSIB) has launched an investigation into the occurrence in line with statutory provisions. The agency stated that the suspension will subsist until it is determined that the conditions of the PNCF have been adhered to.…

A PRIVATE jet having about 10 persons onboard including Very Important Personalities (VIPs) has overshot the Ibadan airport runway in the Oyo State capital. An impeccable source said the incident happened on Friday around 11 am at the Samuel Ladoke Akintola Airport. The jet with registration number, N580KR, missed the runway and skidded into the nearby bush. Firefighters and rescue officials from the Federal Airports Authority of Nigeria (FAAN) were immediately deployed to the scene. But there was no death or casualty recorded. “It was a private plane from Abuja. It landed safely but overshot the runway. There was no casualty,” a…

THE Lagos State governor, Babajide Sanwo-Olu, on Thursday disclosed a plan by the state to establish a commercial airline. The announcement was on Thursday made during the comprehensive presentation of the administration’s achievements in the West of Lagos at the Lagos West Senatorial District People’s Town Hall Meeting. The state government is also preparing to kickstart the construction of a new airport in Lekki. According to Sanwo-Olu, the idea to have a state-owned airport has been in deliberation for several months. He said the state is in the final stages of determining the financing model for the project. Asked why…

NOVAmbl Asset Management’s Dollar Fixed Income Fund has been named as the best-performing Dollar Fund in 2023 by Nairametrics, the leading financial information and content creation company based on data from the Securities & Exchange Commission (SEC). NOVAmbl Asset Management is a subsidiary of NOVA Merchant Bank. SEC had reported that a total of 21 dollar funds registered during the review period averaged an impressive 8.5% return, and all funds within this category achieved positive returns in 2023, with NOVAmbl Asset Management’s Dollar Fixed Income Fund emerging as the best-performing. Undoubtedly, NOVA Merchant Bank’s dedication to excellence and its unwavering…