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Mambilla Project: FCT Court Grants Olu Agunloye N50m Bail

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Olu Agunloye bail

By Adedapo Adesanya

Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court Apo, on Thursday, granted bail to a former Minister of Power and Steel, Mr Olu Agunloye, in the sum of N50 million.

Mr Agunloye was arraigned on seven counts bordering on fraudulent award of a contract and official corruption, on Wednesday.

The Economic and Financial Crimes Commission (EFCC) is investigating Agunloye over the $6 billion Mambilla Hydropower Contract.

Business Post had reported that the judge had ordered his remand in Kuje Correctional Centre pending a hearing and ruling on the bail application.

Moving the application, the counsel for the former minister, Mr Adeola Adedipe, prayed the court to grant bail to his client by way of self-recognisance or in liberal terms, as once done by the EFCC.

He said Mr Agunloye is not a flight risk and that the notion canvassed by the prosecution was “born out of misconception and communication barrier”.

Mr Adedipe, a Senior Advocate of Nigeria (SAN), also appealed to the court not to order the use of a public servant as surety for his client.

The senior lawyer also argued that the apprehensive misconception about bail and the mischief argued by the prosecution has been cured by Section 352( 4) of the Administration of Criminal Justice Act (ACJA).

Under this provision, Mr Adeola said, “Once a defendant is admitted to bail, even if he absconds, the trial will continue and he will be convicted where necessary.”

However, the prosecution counsel opposed the bail application.

Delivering the ruling, Justice Onwuegbuzie said the pendulum of the court swings in favour of granting bail to the defendant.

He granted N50 million bail to the defendant and ordered him to produce two sureties in like sum.

The sureties must be “reputable” and “people of means” residents within the FCT and must have properties worth N300 million with a Certificate of Occupancy (C-of-O) that must be verifiable.

They must submit copies of their identity card and photocopies of their international passports to the court.

The defendant is to submit his passport to the court and must be present for a hearing at all times.

The matter has been adjourned to February 12.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Dangote Unveils Phone Number to Report MRS Stations Selling PMS Above N739

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Dangote monopoly Political Economy of Failure

By Modupe Gbadeyanka

A hotline number, 0800 123 5264, for Nigerians to report any MRS Oil Nigeria Plc filling stations selling Premium Motor Spirit (PMS), commonly known as petrol, above the approved pump price of N739 per litre, has been released by Dangote Petroleum Refinery.

The private refiner said the number was now active nationwide, enabling consumers to promptly report violations and help maintain fair pricing across over 2,000 MRS stations.

This measure follows the refinery’s recent commencement of nationwide PMS sales at N739 per litre—a strategic intervention aimed at stabilising fuel prices and easing the financial burden on Nigerians during the festive season.

“We encourage Nigerians to avoid purchasing PMS at inflated prices when locally refined fuel is available at N739 per litre.

“Report any MRS station selling above this price by calling our hotline. Together, we can ensure that the benefits of this price reduction reach every consumer,” the company stated in a statement.

The organisation stressed its mission to deliver affordable, high-quality fuel while safeguarding national economic interests, reaffirming its commitment to steady supply, backed by a guaranteed daily output of 50 million litres, and warned against attempts to create artificial scarcity or manipulate supply.

Regulatory authorities have been urged to remain vigilant and take decisive action against unpatriotic practices.

By refining locally at scale, Dangote Refinery is reducing Nigeria’s dependence on imports, conserving foreign exchange, stabilising the Naira, and strengthening energy security. This initiative represents a significant milestone in the country’s journey toward sustainable energy solutions and economic recovery.

The refinery also issued a stern warning against attempts by unscrupulous operators to create artificial scarcity in response to the price reduction, calling on government agencies to act decisively.

“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.

Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.

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ANLCA Airport Chapter Scores Salamatu High on Stakeholder Engagement, Trade Facilitation

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ANLCA Airport Chapter

By Bon Peters

The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.

At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.

At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.

“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.

He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.

The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating  trade and increasing Revenue generation.”

“I remember I told her she was a mother during her maiden visit to the airport.

“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.

“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.

Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.

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FG Declares Holidays for Christmas, New Year Celebrations

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as public holidays

By Adedapo Adesanya

The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.

The government also declared Thursday, January 1, 2026, for the New Year celebration.

The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.

According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.

Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.

He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.

Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.

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