The Central Bank of Nigeria has just frozen the bank accounts of Nigerian fintech platforms Risevest, Bamboo, Trove and Chaka for the next six months. According to The Whistler, the Federal High Court in Abuja has granted an exparte motion which sought temporary freezing of bank accounts belonging to these online investment and trading platforms where Nigerians are transacting business online. The motion was filed by Chief Micheal Kaase Aondoakaa, SAN, on behalf of the Central Bank Of Nigeria Governor for the purpose of probing the financial activities of these four fintech companies in Nigeria. The CBN alleged that Rise…
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American troops cannot and should not be fighting in a war and dying in a war that Afghan forces are not willing to fight for themselves. Good afternoon. I want to speak today to the unfolding situation in Afghanistan, the developments that have taken place in the last week and the steps we’re taking to address the rapidly evolving events. My national security team and I have been closely monitoring the situation on the ground in Afghanistan and moving quickly to execute the plans we had put in place to respond to every contingency, including the rapid collapse we’re seeing…
Muaz Magaji, chairman of the Kano State Gas Pipeline Project Delivery and Gas Industrialisation Committee, has deleted his infamous Facebook post celebrating the victory of the Taliban in Afghanistan. Mr Magaji superintends the Ajaokuta–Kaduna–Kano Natural Gas Pipeline (AKKP), a project coordinated by Nigerian Gas Company, a Nigerian National Petroleum Corporation subsidiary. The project will see to the transporting of natural gas from Ajaokuta in Kogi to Kaduna and Kano. Mr Magaji deleted his Facebook post following a report by Peoples Gazette on Tuesday. Mr Magaji, who was first sacked for celebrating the death of the late Chief of Staff to…
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A Federal High Court sitting in Lagos on Tuesday barred Core Capital Ltd and 26 other affiliated firms from dissipating the N51,079,318.37 balance left of the N81,855,735.96 invested in the firm by Mr Olusegun Nelson Tawoju. Vacation judge Justice Nicholas Oweibo granted the order sequel to a motion filed and argued by Tawoju’s counsel, Mr Adekunle Ogunba (SAN). The judge granted all the prayers except prayer three which he noted had been overtaken by events. Justice Oweibo adjourned further proceedings till October 7. The first to 27th Defendants/Respondents are Core Capital Ltd (A member of Cititrust Group), Cititrust Holdings Plc,…
According to Mele Kyari, the oil corporation will cease to exist within the next six months as specified by the Petroleum Industry Act (PIA). Group managing director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari has made a new revelation concerning the corporation. This comes after President Muhammadu Buhari signed the Petroleum Industry Bill into law. According to him, the oil corporation will cease to exist within the next six months as specified by the Petroleum Industry Act (PIA). Kyari who made the disclosure in an interview on Arise TV on Monday August 16, said the corporation would be…
A 52-year old Clergyman, Samson Ajayi, and Jamiyu Jejelaye, 36, on Monday appeared in an Ado-Ekiti, Ekiti State Magistrates’ Court for alleged misconduct on a woman. The Prosecution Counsel, Inspector Bamikole Olasunkanmi, told the court that Ajayi on or about March 2021 in Erigorah Gospel (C&S) Church, Anaye, Ikere-Ekiti made Nifemi Ajayi, who claimed to be a virgin, to fetch water in her palm and distribute to every member of the church. Olasunkanmi said the conduct turned to be detrimental to the victim’s physical and psychological wellbeing. Olasunkanmi also told the court that Jejelaye did cause her physical and psychological…
A reform is underway that would lead to the unbundling of the Nigeria Postal Services (NIPOST) into three firms. The Postmaster-General of the Federation, Dr. Ismail Adebayo Adewusi, disclosed this on Wednesday when he led a team from NIPOST to pay a courtesy call on the Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa. Adewusi said NIPOST would be unbundled into a property company, a logistics and transport company, and a bank. “We have started the process of reform which is culminating in the unbundling of the Nigerian Postal Service to now have a property company,…
The Ministry of Aviation has advertised for qualification for the concession of four International Airport terminals and related services. This is in compliance with the Infrastructure Concession Regulatory Commission (ICRC) and National Policy on Public-Private Partnership (N4P). According to the document signed by the Permanent Secretary, Federal Ministry of Aviation, Hassan Musa, the four major commercial airports (and surrounding communities) to be concessioned are: Nnamdi Azikiwe International Airport, Abuja; Murtala Muhammed Internatıonal Aırport, Lagos; Malam Amınu Kano International Airport and Port Harcourt International Airport. They are to be developed into efficient, profitable, self-sustaining commercial hubs to create more jobs and…
Attorneys-general of the 36 states have sued Abubakar Malami, attorney-general of the federation (AGF), over the alleged failure of government to remit recovered funds into the federation account. Amongst the reliefs being sought in the suit marked SC/cv/395/2021 and filed before the supreme court, the state attorneys-general are asking to court for “a declaration that by the provisions of Section 162(1) and Section 162(10) of the Constitution of the federal republic of Nigeria 1999 (as amended), all income, returns, proceeds or receipts howsoever described derived from confiscated, forfeited and/or recovered assets constitute revenue of the federal republic of Nigeria, which…
