Tag: nigerian energy

A Federal High Court in Abuja yesterday granted a motion filed by former Senate President Bukola Saraki seeking to amend two separate suits he filed against the Economic and Financial Crimes Commission (EFCC) and others. Justice Inyang Ekwo granted the application after it was moved by Saraki’s counsel, Tunde Afe-Babalola (SAN), and was not opposed…

The Central Bank of Nigeria is preparing to impose stricter fines on banks that fail to comply with regulatory standards. This move, according to the Deputy Director of CBN’s Consumer Protection Department, Jamiu Rabiu, is in response to banks’ lacklustre compliance with consumer protection standards. Speaking on Monday at a high-level policy roundtable on financial…

An Ikeja Special Offences Court has heard how former Governor of Central Bank of Nigeria (CBN) Godwin Emefiele instructed his former dispatch rider not to formally acknowledge over $3millon received on his behalf. Monday Osasuwa, who was first prosecution witness (PW1), disclosed this on Monday under examination by Olalekan Ojo (SAN), counsel to Emefiele before…

Police Inspector, Ozonwanji Joseph, implicated in the murder of Ogene musician, Chikezie Okezie Nwamba has been dismissed from Nigeria Police Force. Recall that the cop shot the popular musician, Igbo-Jah dead last Friday, drawing outrage. In a update provided by the police on Monday, it said the officer was found culpable and summarily dismissed. The…

A Federal High Court sitting in Abuja has ordered a final forfeiture of a multi-million naira hotel, Sunflower Hotel Ltd, in Kaduna State, allegedly linked to a former Vice Chancellor of the National Open University of Nigeria (NOUN), Prof. Vincent Tenebe, to the Federal Government. Justice Inyang Ekwo who gave the order following a motion…

Justice Isa Dashen of the Federal High Court in Bayelsa State has set aside the 45 per cent Participating Interest in Ogbanabou Field (PPL-213) awarded by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to Petrodos Atlantic Energy Limited. The court, in a judgment delivered in a suit numbered FHC/YNG/CS/157/2024 by Kalm Marine & Petroleum Services,…

The International Finance Corporation, a member of the World Bank Group and the Central Bank of Nigeria have announced an agreement to scale up local currency financing, unlocking over $1bn in investments across key sectors of the Nigerian economy. This was according to a joint press statement from the IFC and the CBN on Monday.…

The Shipping Agencies, Clearing and Forwarding Employers Association (SACFEA) has called on the Federal Government to compel its agencies operating at the ports to charge in Naira. The President of SACFEA, Mrs Boma Alabi, OON, SAN, who made the call in an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos, said…

Omowunmi, widow of the late singer and rapper, Ilerioluwa Aloba aka Mohbad, has expressed readiness to conduct a Deoxyribonucleic Acid (DNA) test to determine the paternity of their only son, Liam. Recall that the deceased singer’s father, Joseph Aloba, filed a suit seeking a DNA test for his grandson. In the application filed by the…

Augustine Alegeh, SAN, a former President of the Nigerian Bar Association (NBA), has withdrawn his suit against Chief Adeboyega Solomon Awomolo, SAN, the Chairman of the Body of Benchers (BoB). The suit, filed at the Federal High Court in Lagos, was struck out by Justice Ambrose Lewis-Allagoa following the submission of Kelechi Obi, SAN, and…

Socio-Economic Rights and Accountability Project (SERAP) has filed a contempt lawsuit against Professor Mahmood Yakubu, Chairman of the Independent National Electoral Commission (INEC) “for failing to investigate the allegations of electoral offences committed during the 2023 general elections, identify suspected perpetrators and their sponsors, and ensure their effective prosecution.” Justice Obiora Atuegwu Egwuatu of the…

Following the release of embattled Binance executive Tigran Gambaryan from the Kuje Correctional Centre in Abuja, the United States government has dispatched a medically equipped aircraft to evacuate him from Nigeria. On Wednesday, the Nigerian government dropped the money laundering charges it had previously brought against Binance and its executives, including Gambaryan, who had been…

Nigeria’s active mobile subscriber base saw a significant drop, falling by 30.09 per cent to 153.32 million as of September 2024, following the conclusion of the SIM-NIN linkage mandate. Telecommunication providers reported a loss of 65.98 million subscribers, marking a decline from 219.3 million in March 2024 to 153.32 million by September 14, 2024. The…

Sunny Moniedafe, one of the aspirants who participated in the March 26, 2022, national convention of the All Progressives Congress (APC), has taken legal action against the party’s leadership, led by Abdullahi Ganduje, for failing to refund his expression of interest and nomination form fees. The case is set to be heard at an Abuja…

As fuel consumption plummets nationwide due to soaring prices, oil marketers have expressed concerns over significant losses, with around 10,000 oil dealers about to shut down. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicate that fuel consumption dropped to 4.5 million litres per day in August 2024, down from 60 million litres…

An Abia High Court sitting in Bende today October 25th commenced Contempt Proceedings in Suit No HB/3/2024 against PDP i.e Senator Samuel Anyanwu( National Secretary PDP),Allwell Asiforo Okere PH.D( Chairman Caretaker Committee Abia State PDP) and Kenneth Madubuike ( Secretary,Caretaker Committee,Abia PDP). The Court also reminded parties to the case that d restraining order it…

Justice Joyce Abdulmalik of the Federal High Court in Abuja on Friday, refused to recuse herself from hearing a suit seeking to stop fund allocation to the Local Government Areas (LGAs) in Rivers. The Judge who had earlier delivered four rulings against some of the defendants in the suit denied being biased against any of…

A federal high court in Abuja has invites Adeola Ajayi, director-general of the department of state services (DSS), to explain why he should not be imprisoned for contempt. A notice issued on Thursday and signed by the court registrar states: “…And take further notice that you are hereby required to attend the court on the…

The legal battle between the Rivers State House of Assembly and the Central Bank of Nigeria (CBN) along with nine other defendants, the 6th defendant, the Accountant General of Rivers State, has filed a motion challenging the jurisdiction of the Federal High Court in Abuja and alleging bias on the part of Justice J. O.…

The Chief Economist at SPM Professionals, Paul Alaje, on Friday called on the Federal Government to be careful with advice given by global financial institutions like the World Bank and the International Monetary Fund (IMF). He made the call during an interview on Channels Television’s Politics Today, saying that adhering to sweet talk by the…