Family of Deceased LASTMA Officer Gets N10m

By Bliss Okperan Users of ride-hailing mobile applications like Uber, Bolt, LagRide and others may have to submit their National Identification Number (NIN) for registration before using the services if the demands of the Amalgamated Union of App-based Transporters of Nigeria are granted by the federal government. The group has asked the government to force the ride-hailing companies to capture the NIN of passengers before ordering a ride. The drivers made this request because of the incessant killing of their colleagues by hoodlums across the country. In a statement made available to journalists, the ride-hailing drivers said if this demand

By Adedapo Adesanya After years of delays and extensions, the Lagos Blue Line Rail has begun commercial operations, with Governor Babajide Sanwo-Olu taking the first ride this morning (September 4). The first phase of the rail line extends from Marina to Mile 2 with five stations located in Marina, National Theatre, Iganmu, Alaba, and Orile. Operations commenced from Marina to Mile 2 Train Station, with Mr Sanwo-Olu taking the first ride at about 09:45 am. He was joined by some select persons, including the Commissioner of Police for the state, Mr Idowu Owohunwa; the First Lady, Mrs Ibijoke Sanwo-Olu; the

By Adedapo Adesanya Indian car maker, Hinduja Group, has disclosed plans to invest in Nigeria’s automotive industry following talks with President Bola Tinubu in New Delhi, India, ahead of the G20 summit. President Tinubu is in the Indian capital meeting with delegates and investors on the sidelines of the event, which will be held between September 9 and 10. He was invited to the country by the Prime Minister of India, Mr Narendra Modi. At a meeting with Mr Tinubu, the Chairman of Hinduja Group, Mr Prakash Hinduja, said he is ready to sign a memorandum of understanding with the

By Modupe Gbadeyanka The proposed repair works on the Third Mainland Bridge by the Lagos State government have been suspended indefinitely. The state government had planned to close the bridge for two Sundays, beginning today, Sunday, September 17, 2023, but due to the heavy downpour witnessed in the state on Saturday, the action has been postponed. A statement signed by the Lagos State Commissioner for Transportation, Mr Oluwaseun Osiyemi, did not disclose when work would resume at the bridge. However, it explained that the planned repairs had to be put on hold “due to the heavy downpour experienced” in the

By Okechukwu Keshi Ukegbu A section of Africa, Mali, is boiling, as usual, on a negative note. For the umpteenth time, the vast country, stretching into the Sahara Desert and among the poorest countries in the world, has experienced another military takeover. Mutinying soldiers ousted the country’s President, Ibrahim Boubacar Keïta, with the claim that “they plan to set up a civilian transitional government and hold new elections”. While the spokesman for the soldiers said they had acted “to prevent the country falling further into chaos”, Keita acted gentlemanly, unlike his contemporary African leaders whose ambitions worth more than the

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By Adedapo Adesanya Ultrasonic sensing technology company, Fluenta, has completed work on the Dangote Refinery in Nigeria, Africa’s biggest oil refinery, installing 18 ultrasonic flare gas meters on large pipelines around the plant. This company is using its technology to aid Nigeria’s flare gas reduction efforts and with Dangote Refinery set to begin operations soon, according to its management recently, this could be a step to fix inaccurate measurements of gas flaring. Nigeria currently imports refined petroleum products for its use, even though it is Africa’s biggest oil producer and with Dangote Refinery, the world’s largest single-train refinery capable of

By Adedapo Adesanya  A Federal High Court in Abuja has directed the Central Bank of Nigeria (CBN) to pay a judgment sum with interest of N182.7 billion to Ogoni community from the account of First Bank of Nigeria. The court gave this directive to the apex bank because First Bank manages the account of Shell Petroleum Development Company (SPDC), which the court compelled to pay the amount of money for causing damage to the community and its environs as a result of oil spillage. Making the garnishee order absolute, the presiding judge, Justice Inyang Ekwo, ordered the CBN to deduct

By Dipo Olowookere President Muhammadu Buhari has signed the 2020 Appropriation Bill into law, paving way for the return of the budget cycle to January to December. Business Post reports that on October 8, 2019, President Buhari presented the budget to a joint session of the National Assembly and was passed by the parliament on December 5, 2019. On Tuesday, December 17, 2019, the President signed it into law. When he presented the budget to the lawmakers, Mr Buhari proposed to spend N10.33 trillion for the 2020 fiscal year, but when it was passed, it was raised to N10.6 trillion

By Dipo Olowookere Tier-II lender, Fidelity Bank Plc, has commenced Saturday banking to allow customers to deposit cash into their bank accounts. The financial institution confirmed this development in a notice sent to its customers over the weekend. It explained that the purpose of this is purely to receive cash deposits from customers following plans to introduce new Naira notes into the nation’s financial system to tame inflation. “President Muhammadu Buhari approves redesign, production, and circulation of new series of N200, N500, and N1,000 banknotes,” the Central Bank of Nigeria (CBN), said last week, urging Nigerians to support the currency

By Modupe Gbadeyanka Atlas Mara Limited has indicated its interest to raise about $200 million from the sale of new stock to Fairfax Africa Holdings Corporation so as to enable it increase its stake in Union Bank of Nigeria from 31 percent to 44.5 percent. The firm said in a statement on Wednesday, June 21, 2017, that the equity would be sold to Fairfax and existing shareholders through the issuance of convertible bonds. “A strategic partnership with Fairfax Africa creates a strong relationship between two like-minded, long-term investors in Africa. “Each is focused on capitalizing on the long-term growth potential

By Modupe Gbadeyanka A new research conducted by an American firm has predicted that the Nigeria tyre market is expected to surpass $615 million by 2021. The study conducted by Research and Markets, with the title ‘Nigeria Tyre Market Forecast and Opportunities, 2021’, noted that in 2015, tyre market in Nigeria was dominated by the passenger car tyre segment, and said this trend is expected to continue over the next five years. It disclosed that Mid-West region grabbed the largest share in the country’s tyre market in 2015. According to the report, over the last decade, the region has evolved