The Presidency has reacted to an attempt by a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited to take over offshore assets of the Federal Government of Nigeria through what it described as subterfuge. In a press statement, the Special Adviser to the President on Information and Strategy, Bayo Onanuga said that the Federal Government is not under any contractual obligation with the company. “The case in which Zhongshan is trying to use every unorthodox means to strip our offshore assets is between the company and the Ogun State Government”, Onanuga stated. The Presidency in the statement noted that the…
Author: Michael Chibuzo
The National Judicial Council (NJC) has recommended Justice Kudirat Kekere-Ekun to President Bola Ahmed Tinubu for appointment as the next Chief Justice of Nigeria (CJN) to replace the outgoing CJN, Justice Olukayode Ariwoola. The recommendation was made during the 106th meeting of the Council on Thursday presided over by the CJN Justice Olukayode Ariwoola who is set to leave office on August 22, after attaining the mandatory retirement age of 70. If President Bola Tinubu appoints Kudirat Kekere-Ekun as CJN in line with the NJC recommendation, she will be the second female chief justice of Nigeria after Justice Aloma Mariam…
Nigeria’s headline inflation rate has eased to 33.40% in July below the 34.19% recorded in June according to data released by the National Bureau of Statistics (NBS). This decline in inflation rate is the first in 19 months. Looking at the CPI data from NBS, the July 2024 headline inflation rate showed a decrease of 0.8% points when compared to the June 2024 headline inflation rate. On a year-on-year basis, the headline inflation rate was 9.32% points higher compared to the rate recorded in July 2023, which was 24.08%. This shows that the headline inflation rate (year-on-year basis) increased in…
The Minister of Solid Minerals Development, Dr. Dele Alake has hinted at an impending forensic audit of the mining sector as part of efforts to sanitize the industry and boost investor confidence. During a meeting with Plateau State Governor Caleb Mutfwang on Wednesday, Dr. Alake emphasized that ongoing reforms will lead to the implementation of technology-driven mechanisms aimed at enhancing the regulatory framework of the federal government. “I can reveal that we are going to embark on a forensic audit of the entire sector,.We are collaborating with the Ministry of Science and Technology on satellite imaging, in line with the…
Nigerian security operatives have arrested one Mr. Bashir Hadejia, over treason, subversive activities, gun-running and transnational crimes. Mr. Bashir Hadejia who specialises in money laundering and other transnational crimes was nabbed over the weekend by the Nigerian Police. His arrest by the police was as result of intelligence reports on smuggling large catches of weapons along with bars of gold believed to have been stolen from the Central Bank of Libya. Bashir Hadejia, is alleged to be involved in trading of dangerous weapons along with gold as cover-up. Authorities also accused him of being involved in aiding terrorism and other…
The Nigeria Education Loan Fund (NELFUND), the fund responsible for administering the Student Loan scheme of the federal government has announced that students from an additional 22 state-owned tertiary institutions can now apply for loans on its portal: nelf.gov.ng This followed a review by the committee responsible for the Student Verification System. Prior to this, 86 state-owned institutions were cleared. With this latest addition, students from a total of 108 institutions are now able to apply for the student loans. The newly cleared institutions are as follows: 1. Abia State University, Uturu 2. College of Education, Nsugbe 3. Chukwuemeka Odumegwu…
The Dangote Petroleum Refinery has reacted to news report emanating from the Independent Petroleum Marketers Association of Nigeria (IPMAN) projecting that the petrol from the refinery would be sold at N600 per litre. In a brief statement, the Dangote Refinery said that it has not fixed its petrol price. The Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina, said that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is not its business partner yet and they are not authorised to speak for Dangote Refinery. “We have never discussed price of Premium Motor Spirit (PMS) with them, and…
A federal high court sitting in Abuja has granted an interim order to the Economic and Financial Crimes Commission (EFCC) to freeze four cryptocurrency wallets worth $37 million over allegations of money laundering. The order was granted by Justice Emeka Nwite on August 8, while a ruling on an ex-parte motion filed by the EFCC. The anti-graft commission applied for an order to freeze total crypto assets valued at USDT 37,061,867,869.3 Based on the document, the commission sought to freeze a total of 37,061,867,869.3 domiciled in four crypto wallets. According to the EFCC, the assets are proceeds of money laundering…
President Bola Tinubu will on Wednesday, August 14, depart Abuja for Malabo, Equatorial Guinea, on a three-day official visit to honour the invitation of President Teodoro Obiang Nguema Mbasogo. This is according to a state house press release by presidential spokesperson, Ajuri Ngelale. President Tinubu will meet with the Equatorial Guinean President at the Presidential Villa on arrival, where meetings will be held between the two leaders and agreements, particularly on oil and gas and security, signed. According to the statement, the President will be accompanied on the trip by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and other…
As part of efforts to speed up the CNG adoption in Nigeria to drive down cost of transportation, President Bola Tinubu on Monday launched the first set of hybrid Compressed Natural Gas (CNG) buses at the Presidential Villa in Abuja. The President commissioner 30 hybrid Compressed Natural Gas (CNG) buses with a total capacity of 3,000 passengers. The Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) donated 20 of the CNG-powered buses while the Nigerian National Petroleum Company Limited (NNPCL) donated 10 of the locally manufactured buses to the federal government. The 30 buses were produced locally by Innoson…