CCT Adjourns CJN Onnoghen Trial to January 22

By Modupe Gbadeyanka The Nigerian Army has claimed responsibility for the killing of some villagers of Tudun Biri in Kaduna in an air strike. Reports earlier went viral that operatives of the Nigerian Air Force bombed the villagers during a Maulud celebration but authorities of the air force debunked the reports, saying its men were never involved in such. However, the Nigerian Army has said it was involved in the bombing, which it said was a mistake because it was going after some terrorists in the area. The Kaduna State government, in a statement issued on Monday by its Overseeing

By Bliss Okperan A helicopter operated by the Nigerian Air Force (NAF) on Friday crash-landed and exploded at the NAF Base, Port Harcourt, Rivers State. The NAF Director of Public Relations and Information, Air Commodore Edward Gabkwet, confirmed the incident in a statement, noting that the NAF-35p had taken off on an operation against oil thieves in Rivers State before the unfortunate incident. He said five persons on board survived the air mishap with minor injuries. “A Nigerian Air Force (NAF) MI-35P helicopter crashed at Port Harcourt today, December 1, 2023. The unfortunate incident occurred at about 7.45 am shortly

By Adedapo Adesanya A Federal Capital Territory High Court, Abuja, has adjourned an alleged procurement fraud case involving ex-Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to January 18 and 19, 2024, for continuation of trial. Mr Emefiele is standing trial on a six-count amended charge on alleged procurement of vehicles to the tune of N1.6 billion. He had pleaded not guilty to the charges. He was granted bail on November 17, 2023, to the tune of N300 million, and two sureties and remanded at the Kuje Correctional Centre, pending when he meets his bail conditions. However,

By Bliss Okperan The Nasarawa State House of Assembly has announced its election of Danladi Jatau, representing Kokona West Constituency, as the new Speaker. The state parliament also disclosed on Friday that it now has a new Deputy Speaker, who is Mohammed Oyanki, the lawmaker representing Doma North Constituency. The election of the two principal officers of the legislative arm of the state followed the sacking of its former Speaker, Mr Ibrahim Abdullahi, by the Appeal Court sitting in Abuja on Tuesday. While the new Speaker is a member of the All Progressives Congress (APC), his deputy is a member

By Adedapo Adesanya The Lagos Chamber of Commerce and Industry (LCCI) has said that up to 83 percent of businesses are at risk and will need to slash salaries and layoff workers in order to stay afloat after the pandemic. President of LCCI, Mrs Tobi Mabogunje, said this on Tuesday, adding that policymakers and the organized private sector need to implement an urgent rescue package for businesses in the formal and informal sector. “Although government have rolled out raft of relief measures to support businesses, we observe that these packages are tilted more towards formal establishments while micro and small-scale

By Adedapo Adesanya Crude oil fell by close to 2 per cent on Friday, ending the year bearish as infections surged to record highs around the world. Despite this, the commodity posted its biggest gain since 2009 spurred by the global economic recovery from the COVID-19 slump and restraint from the Organisation of the Petroleum Exporting Countries its allies (OPEC+). Yesterday, Brent crude lost $1.80 or 1.43 per cent to trade at $78.10 per barrel, while the United States West Texas Intermediate (WTI) crude closed $1.99 or 1.53 per cent lower to sell at $75.46 per barrel. On the last

By Aduragbemi Omiyale There is jubilation among pensioners in Nigeria as their latest payment has reflected the consequential increment promised by the Pension Transitional Arrangement Directorate (PTAD). The PTAD commenced the payment of the consequential adjustment to the pensioners under the Defined Benefit Scheme (DBS). This is in fulfilment of the promise made by the Executive Secretary of the agency, Ms Chioma Ejikeme, recently when she announced President Muhammadu Buhari’s approval for the implementation of the consequential adjustment with effect from May 2021. The monthly pay of the pensioners was increased after the federal government raised the minimum wage of

By Dipo Olowookere A Magistrate Court sitting in Ogba, Lagos State has sentenced popular Nollywood actress, Funke Akindele, and her husband, Mr Abdul Rasheed Bello, otherwise known as JJC Skillz, for violating the lockdown declared in the state by the Federal Government. The screen goddess and her hubby were sentenced to 14 days community service after pleading guilty to the charge read to them. In addition, the the couple was told by the court to pay a fine of N100,000 each and would be put in isolation for two weeks at a place to be determined by the Lagos State

There are strong indications that loans and leases in Bank Credit of all commercial banks in the United States could eventually reach $10 trillion monthly soon. Data provided by LearnBonds.com explains the value of bank credit of all commercial banks in the United States is also close to reaching $14 trillion. In October 2019, the value of bank credit reached $13.72 trillion, representing an increase of 6.52 percent compared with October 2018 and to surpass $14 trillion, the industry would have to expand by over 2 percent in the next few months. Since 2012 that the market is expanding and

By Dipo Olowookere In order to pay the November 2017 salary of those on its payroll, the Nasarawa State government says it will secure a loan of N1.8 billion from local sources. Speaking on Thursday during a Joint Account Allocation Committee (JAAC), Nasarawa State Commissioner for Local Government and Chieftaincy Affairs, Mr Haruna Osegba, stated that commercial banks were willing to provide the credit facility to the state government. He said the money, when finally secured, would be used to offset November salaries of its workers, emphasising that modalities for getting the loan were already in place. “As a responsible

By Adedapo Adesanya The Naira value depreciated against the United States Dollar in the official and black markets on Thursday, but appreciated in the Peer-to-Peer (P2P) window of the foreign exchange (forex). Data showed that the Nigerian Naira lost 5 Kobo or 0.01 per cent against the greenback in the Investors and Exporters (I&E) yesterday to settle at N461.40/$1 compared with the previous day’s value of N461.35/$1. This occurred amid a marginal decline in the value of FX transactions recorded in the trading session. Business Post gathered from FMDQ Securities Exchange that the turnover of the day was $96.44 million

By Dipo Olowookere Two winners have emerged in the December/January 2016 draw of Heritage Bank Plc on-going Happy Days Promo. The two winners, Mrs Nwagbo Anastasia and Mr Segun Akinsola, both customers of Heritage Bank, were presented with the prizes over the weekend in Lagos by senior officials of the bank in the presence of an executive official of the Consumer Protection Agency (CPC) Mr Onifade Abideen. The Heritage Bank team was led by the Group Head, Market Intelligence and Analytics, Mrs Cynthia Erigbouem; Group Head, Lagos Island, Tomi Oyesola; Experience Centre Manager, Allen Ikeja, Aderonke Famoroti; Aniekan Udiba, Experience