The Federal Government has reacted to the allegations by the crypto currency platform, Binance accusing some “unknown persons” within the Nigerian government of asking a bribe of $150 million payable in crypto currencies to make its legal problems with the Nigerian government to “go away”. In a press statement signed by Rabiu Ibrahim the Special Assistant to the Minister of Information and National Orientation, the federal government described the allegations by Binance as falsehood and lacks any iota of substance. The federal government added that the bribery allegation is nothing but a diversionary tactics by the company to overshadow the…
Author: Michael Chibuzo
By Temitope Ajayi Since his first trip abroad as President of Nigeria to Paris in June last year, where he joined other world leaders at the New Global Financial Pact Summit convened by President Emmanuel Macron, President Bola Tinubu has undertaken many other important trips where he has drawn global attention to the new realities in Nigeria and indeed Africa. On those trips, he emerged as the chief salesman of Nigeria and Africa. Like his previous travels where he had forcefully spoken, with admiration, on behalf of Nigeria or for West Africa as Chairman of ECOWAS Authority of Head of…
Reactions have trailed the announcement by the Central Bank of Nigeria (CBN) directing banks and other financial institutions including mobile money operators to begin deduction of 0.5% Cybersecurity levy on some categories of electronic bank transfers effective 20th May, 2024. The directive, the CBN said is in compliance with Section 44(2) (a) of the Cybercrimes (Prohibition, Prevention, etc) Amendment Act 2024. However, following the announcement by the apex Bank via its latest circular released on Monday, many Nigerians have taken to the social media to express their confusion and displeasure with the new CBN directive. Some described the directive as…
Nigerians have descended heavily on Landmark Africa, operators of Landmark resort in Lagos following an advert it posted on its X handle announcing it is open for business six days after it announced to the world that what it built in 6 years was destroyed in 6 hours to pave way for the Lagos-Calabar coastal road project. The Landmark CEO, Paul Onwuanibe, had lamented in a Channels interview that his $200 million business investment around the Landmark ecosystem was set to be demolished for the Lagos-Calabar coastal road. This prompted increased opposition to the project from many especially in the…
The former Vice President of Nigeria and perennial presidential candidate, Alhaji Atiku Abubakar in one of his now boring criticism of the monumental Lagos-Calabar coastal road has accused President Bola Tinubu of conflict of interest in the choice of Hitech Construction Company to execute the Lagos-Calabar coastal road project. His reason? Mr. Seyi Tinubu, the son of President Bola Ahmed Tinubu is listed as a Director on the board of CDK Integrated Industries, a subsidiary of the Chagoury Group, which is also the parent company of Hitech Construction Company Ltd. If this is the only reason Atiku Abubakar can come…
The former Senator representing Bayelsa East Senatorial District and founder of Silverbird Group, Ben Murray-Bruce has berated the Presidential Candidate of the Labour Party in the 2023 presidential election, Mr. Peter Obi for opposition the monumental Lagos-Calabar coastal road project being undertaken by the Tinubu administration. The former Bayelsa Senator in a Common Sense series video stated that with the commencement of construction of the Lagos-Calabar coastal road, a new era in Nigeria’s transportation history has begun. He noted that the project is proof of the transformative power of visionary leadership by President Bola Tinubu who put as Minister of…
By Dada Olusegun The Lagos-Calabar coastal road project is undoubtedly Nigeria’s most ambitious transport infrastructure project since independence. In terms of scope, distance covered, and connectivity, not even the 3rd Mainland Bridge in Lagos, the 2nd Niger Bridge in Onitsha/Asaba, or the Abuja-Kano expressway comes close. It is simply a world-class iconic project. Before I go further, I want us to take a brief trip back to history. The idea for a major coastal federal road in Nigeria was first conceptualized in 1955 by the then Federal Commissioner of Finance, Late Chief Festus Okotie-Eboh, who hails from present-day Delta State.…
With the recent successful reliability test at the Zungeru Hydro Power Plant, an additional 624 megawatts (MW) of electricity has now been integrated into the national grid. This massive boost couldn’t have come at a better time, given Nigeria’s recent woes of unreliable power supply which had seen many Nigerians unable to get few hours of electricity supply in a day. This reduction in power supply was attributed to gas supply constraints to power many of the nation’s gas-fired power plants as well as legacy debts in the electricity value chain which led to electricity generating companies (GENCOS) declining to…
President Bola Ahmed Tinubu is about to clock one year in office as President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. Since his assumption of office, every month has been very eventful with a lot of major policy decisions being churned out by the administration. In this feature, Podium Reporters will take a look at the summary of the President’s scorecard in the month of April, 2024 as compiled by the President Bola Ahmed Tinubu Media Centre: TAKE-OFF OF PHASE ONE OF CONSUMER CREDIT SCHEME President Bola Tinubu in April approved the take off of…
On April 28th, 2024 Nigeria secured a $600 million investment in seaport infrastructure from Danish shipping company A.P. Møller-Maersk. This was first revealed by the presidency in a press release on Sunday. The investment was secured during a meeting between President Bola Tinubu and Moller-Maersk Chairman Robert Maersk Uggla on the sidelines of a World Economic Forum meeting in Saudi Arabia. However, in less than 48 hours an online report emerged alleging that the Danish company denied promising to invest $600m in Nigeria. This narrative went viral on social media especially on the popular X platform. An Economic Analyst/Presenter with…