Plateau’s Muftwang Races to Supreme Court After Ouster

By Adedapo Adesanya  PricewaterhouseCooper (PwC) Nigeria has commended the country’s move towards fixing its copious electricity challenges with the Electricity Act 2023 and proposed key amendments that will ensure the issues are faced head-on, At the 14th edition of its Annual Power and Utilities Roundtable, with the theme The Electricity Act 2023: Powering Nigeria, the Partner and Energy, Utilities and Resources Leader at PwC Nigeria, Mr Pedro Omontuemhen, noted that, “The 2023 power roundtable’s timing coincides with the ongoing COP 28 in Dubai, highlighting the urgent need for continued action on climate change especially in the area of renewable energy.”

By Adedapo Adesanya The Lagos State Government has signed two deals bordering on waste management at the ongoing 28th session of the Conference of Parties (COP28) in Dubai, United Arab Emirates. According to Governor Babajide Sanwo-Olu, waste conversion initiatives, which the state pitched at the global climate summit, have attracted significant interest from investors. These are the Advanced Garbage Collection and Waste-to-Energy project and the building of a new sewage treatment plant. Mr Sanwo-Olu confirmed the deals on Sunday at an event held at Nigeria Pavilion, where he also presented Phase Two of the Lagos State Climate Adaptation and Resilience

By Adedapo Adesanya The former Governor of the Central Bank of Nigeria (CBN), Mr Sanusi Lamido Sanusi, has called for a proper audit of the Nigerian National Petroleum Company (NNPC) Limited as he outlined certain restructuring of government organisations. Mr Sanusi, who made this known while delivering his remarks at The Bank Directors Summit at the Congress Hall of the Transcorp Hilton in Abuja, noted that this call was what cost him his job at the apex bank under the Goodluck Jonathan administration. Mr Sanusi, who was CBN governor from June 2009 to February 2014, also insisted that the President

By Bliss Okperan The Tincan Island Port (TCIP) Command of the Nigeria Customs Service (NCS) has created a mobile application to automate its bond and license unit, Transire. At the unveiling of the app on Thursday, the Customs Area Controller, Comptroller Dera Nnadi, said the need to automate the Bond and License Unit had become imperative for administrative and procedural ease of doing business in the command. Speaking at a sensitization program on the automation process, Mr Nnadi informed participants that the application was developed by Superintendent of Customs Samuel Bello, to reduce the volumes of documents being deployed in

By Dipo Olowookere A group of investors led by OGCI Climate Investments has provided the sum of $5.5 million to Clarke Valve via the sale of its Series B Preferred Stock. Along with funding from Saudi Aramco Energy Ventures and Chevron Technology Ventures, Clarke has now raised $15.5 million of Series B funding. Clarke’s patented Shutter Valves are typically 1/5th the weight, 1/5th the size and 1/5th the cost of equivalent legacy valves, providing substantial benefits to users of industrial control valves in many industries. In addition, Clarke valves are currently the only control valves in the world to achieve

By Aduragbemi Omiyale The United Kingdom has donated 699,760 doses of AstraZeneca vaccine to Nigeria to allow the country to fight the COVID-19 pandemic. The vaccines, received on Tuesday, August 17, 2021, were given to Nigeria through the COVAX initiative, bringing the total number of COVID-19 Vaccine AstraZeneca doses delivered to the nation through COVAX or government agreements to over 4.6 million. COVAX is a global initiative co-led by the Coalition for Epidemic Preparedness Innovations (CEPI), Gavi (the Vaccines Alliance) and the World Health Organisation (WHO), which works with governments and manufacturers to accelerate the development, production and equitable access

A coalition of Civil Society Organizations (CSOs) on Sunday said it had uncovered a fresh plot by embittered oil thieves to blackmail, smear and tarnish the image of the group chief executive officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari. The CSOs, consisting of 42 different organizations, said the move by the oil thieves, whose businesses have been truncated by the recent stoppage of payment for fuel subsidy by the Federal Government and the total war declared by the Kyari-led NNPCL against oil theft and pipeline vandals, is to disinform and set Nigerians against the national

By Adedapo Adesanya President Muhammadu Buhari has called on the speedy delivery of the Nigeria Liquefied Natural Gas (NLNG) Train 7 so that the Train 8 project could begin on schedule. The President gave the charge at a virtual ground-breaking ceremony of the project in Bonny Island, Rivers State on Tuesday. He urged the NLNG, the host communities, the Rivers State government and other agencies of the federal government to continue to collaborate to ensure the completion and eventual inauguration of the Train 7 project safely and on time. He said, “As we flag off the Train 7 project today,

By Adedapo Adesanya  The 7 kobo decline recorded by the share price of Trustbond Mortgage Bank Plc led the NASD Over-the-Counter (OTC) Securities Exchange into the dungeon for another successive trading session. Stocks of the mortgage bank, which closed on Tuesday at 70 kobo per unit, depreciated by 11.11 percent on Wednesday to settle at 63 kobo each. This contributed to the 0.06 percent loss printed by the unlisted securities market and led to the 0.43 points depreciation suffered by the NASD Unlisted Security Index (NSI), which closed at 683.06 points against 683.49 points recorded at the previous session. In

By Aduragbemi Omiyale The need for regulators in the financial industry in the country, including the Central Bank of Nigeria (CBN), to understand the crypto asset space for proper regulations has been stressed by the Securities and Exchange Commission (SEC). According to the Director-General of the SEC, Mr Lamido Yuguda, if the regulators can do this, they would be better positioned to address identified risks. Recently, the CBN ordered banks in the country to close down all accounts of individuals and companies trading cryptocurrencies. This sparked reactions from many quarters, including the National Assembly. The Senate had to summon the

By Dipo Olowookere The newly created Securities Issuers Forum (SIF) has the potential to enhance Nigeria’s economic growth, the Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, has said. Mr Yuguda made this disclosure on Wednesday during the virtual inauguration of the platform formed in collaboration with the Nigeria Employers Consultative Association (NECA). He explained that the forum can contribute to Nigeria’s economic development because it will allow issuers to engage the commission in order to encourage more listings, improve the contribution of issuers to the development of the capital market as key stakeholders, deepen and broaden

The need to embrace peace and unity in Africa has been emphasised by the Sultan of Sokoto, Alhaji Sa’ad Abubakar III. Mr Abubakar, while receiving the Liberian Vice President, Mr Joseph Boakai, at his palace in Sokoto on Sunday, said “Nigeria will continue to do everything humanly possible to ensure that stability stays in Africa.” He further said, “We will also continue to work together to entrench peace, unity, democracy and inter-faith harmony in Africa. “The Federal Government is also committed to lending support to Liberia, at all times.” The respected monarch said Nigeria had committed men and resources to