Customs Confiscates Pangolin Scales Worth N1.7bn in Lagos

By Adedapo Adesanya The two leading opposition presidential candidates in the 2023 general elections, Mr Atiku Abubakar of the Peoples Democratic Party (PDP) and Mr Peter Obi of the Labour Party, on Tuesday, approached the Supreme Court to upturn the judgment of the Presidential Election Petition Court (PEPC), which on September 6, affirmed Mr Bola Tinubu of the All Progressives Congress (APC) as winner of the exercise held on Saturday, February 25. Mr Atiku, in his Notice of Appeal predicated on 35 grounds, insisted that the tribunal, in the judgment delivered by Justice Haruna Tsammani, committed grave error and miscarriage

By Adedapo Adesanya The House of Representatives has urged the Federal Ministry of Power and the Transmission Company of Nigeria (TCN) to urgently provide funds for the completion of the Okpai–Kwale Transmission Line Project in Delta State. At the plenary on Tuesday, the lower chamber of the parliament mandated its Committee on Power to ensure that bottlenecks mitigating against the completion of the project are effectively addressed and the project is completed in due time. This followed a motion moved by Mr Nnamdi Ezechi, the lawmaker representing Ndokwa/UKwuani Federal Constituency in the National Assembly on the floor of the green

By Adedapo Adesanya  The Senate and the House of Representatives will on Tuesday resume plenary after weeks of vacation with expectations that they will attend to correspondences from President Bola Tinubu. The upper chamber adjourned for a six-week annual recess on August 17 after confirmating 45 out of the 48 ministerial nominees of President Tinubu. The Senate President, Mr Godswill Akpabio, also announced the composition of 74 standing committees on that day. Upon resumption, the Senate will commence its legislative duties by attending to correspondences from the President requesting the confirmation of some appointments he made. The appointments include those

By Adedapo Adesanya President Bola Tinubu has promised fresh growth and job reforms in the coming months after he removed fuel subsidies and directed the float of the Naira to unify the exchange rate. The Nigerian president made this known during his first address at the 78th United Nations General Assembly in New York, the US, after he took over the helm of office from Mr Muhammadu Buhari in May. He said, “To foster economic growth and investor confidence in Nigeria, I removed the costly and corrupt fuel subsidy while also discarding a noxious exchange rate system in my first

By Adedapo Adesanya The Nigeria Security and Civil Defence Corps (NSCDC) says it has returned the 50,000 litres of premium motor spirit (PMS) hitherto diverted to neighbouring Imo State back to the oil marketer who placed an order for it. Business Post had reported that the NSCDC in Rivers State arrested two suspects over attempted diversion of petroleum products to neighbouring states without an appropriate licence. “The anti-vandal border patrol team swung into action and impounded a blue and white colour 50,000 litres capacity truck with registration number Abia EZA 850 YF in the conveyance of PMS,” the defence corp

By Adedapo Adesanya Amid a rise in food inflation, the Central Bank of Nigeria (CBN) is considering the addition of wheat to the list of food items restricted from getting foreign exchange (forex) allocations from the official channel, the Investors and Exporters (I&E) window, a decision that will have a ripple effect on the price of products from wheat, bread, noodles, biscuits, cakes, and other pastries. Business Post gathered from the Nation that the apex bank is seeking to put the food item on the long list in order to save $2 billion that is expended by manufacturers and investors

By Modupe Gbadeyanka The latest data released by the National Bureau of Statistics (NBS) has revealed that the agricultural sector maintained being one of the major contributors to the Nigerian Gross Domestic Product (GDP). In the report published on Monday by the agency, agriculture as a whole grew by 4.54 percent in the third quarter of 2016 from 4.53 percent it recorded in the second quarter of the same year and 3.46 percent in third quarter of 2015. From the analysis, it was observed that crop production grew by 4.88 percent in third quarter of 2016 from 4.72 percent in

By Adedapo Adesanya The National Pension Commission (PenCom) has approved the proposal by the Pension Operators’ Association of Nigeria (PenOp) for an industry Shared Service Initiative (SSI), to accelerate data recapture exercise (DRE) of all registered Retirement Savings Account (RSA) holders, under the Contributory Pension Scheme (CPS). DRE involves recapturing the personal data of all registered RSA holders, who must provide their National Identification Numbers (NIN) to their Pension Funds Administrators (PFAs), in line with the federal government’s directive that every Nigerian must have a NIN. PenCom had directed PFAs to embark on the recapturing exercise, following the slow adoption

By Adedapo Adesanya The value of the Naira to the Dollar crashed by N3 or 0.53 per cent at the peer-to-peer (P2P) market segment of the foreign exchange (forex) market on Thursday. At the market window, the exchange rate of the Nigerian currency to its American counterpart closed at N574/$1 compared with N571/$1 it traded at the midweek trading day. The P2P market is a marketplace where buyers and sellers exchange their currencies through different means, including bank transfers and others. The rate is mostly affected by the price of cryptocurrencies and yesterday after inflation figures from the United States

**Appeals for Cooperation as Implementation Begins By Modupe Gbadeyanka Lagos State government has begun the distribution of the 2018 Land Use Charge demand notices for properties across the state. The distribution, which commenced last week, ought to have been carried out much earlier in the year, but was delayed by a review of the Land Use Charge Act by the State House of Assembly. The review process entailed a repeal of the old law, public hearings and enactment of a replacement by the House of Assembly on January 28, before it was signed into law on February 8. According to

By Dipo Olowookere A renowned security outfit in Nigeria, Halogen Security, has cautioned Federal Government on the potential pitfalls that lie ahead of its plans to drive Nigeria’s transportation sector into a smart mobility system. Managing Director of Halogen Security, Mr Wale Olaoye, warned that before going smart, the security of our cyber space must be considered from the initial planning phase or the system would be left vulnerable to attacks. This warning follows submission of Chairman, Senate Committee on Transport Chairman, Mr Gbenga Ashafa, earlier this week that the yet to be passed National Transport Commission Bill will lay