Peter Obi, the presidential candidate of the Labour Party in the 2023 election, has called on the Nigerian government to address growing concerns about interest rates and reverse key monetary policies. In a statement posted on his X handle, Obi highlighted the detrimental impact of the Central Bank of Nigeria’s (CBN) interest rate hikes on…
Nigeria has secured the bid to host the headquarters of the Africa Energy Bank (AEB), a significant achievement for the country’s energy sector. This announcement was made by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, following a virtual meeting of the council of ministers of the African Petroleum Producers Organisation (APPO) on…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC Ltd) and NIPCO Gas Limited have inaugurated twelve Compressed Natural Gas (CNG) stations in Nigeria, marking a significant step in the country’s drive towards cleaner and more affordable energy. The stations were commissioned by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in…
Justice Inyang Ekwo of the Federal High Court in Abuja has nullified the February 2024 election that produced Dr. Asue Ighodalo as the People’s Democratic Party (PDP) governorship candidate for Edo State. The court’s decision was based on the unlawful exclusion of 378 delegates who were supposed to participate in the primary election. Despite the…
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has expressed deep concern over the detrimental effects of internet crimes, commonly known as “yahoo yahoo,” on Nigeria. Speaking at the Global Peace Movement International awards, where he was honored as Man of the Year, Olukoyede highlighted the severe economic repercussions of cyber…
The Court of Appeal in Abuja has reserved judgment in the appeal filed by Muritala Ajaka, the governorship candidate of the Social Democratic Party (SDP), challenging the May 27, 2024, judgment of the state election petition tribunal. Ajaka’s appeal contests the tribunal’s decision, which affirmed the November 11, 2023, election victory of Governor Usman Ododo…
In a statement signed by its spokesperson, Dele Oyewale, the Commission revealed that a group has been actively campaigning on social media, recruiting impressionable young Nigerians, including students, to take up “arms” against the EFCC in recent days. The Commission described the campaign as an insidious effort, promoted as resistance to its operational activities, particularly…
In two separate judgments, Justice Donatus Okorowo ruled that two companies involved in the alleged $9.6 billion P&ID scam were guilty of money laundering offenses. Consequently, he ordered that the companies be wound up and their assets forfeited to the federal government. The Economic and Financial Crimes Commission (EFCC) is prosecuting Trinity Biotech Nigeria Limited…
Fantoli, an associate of Nolan, has been implicated in the alleged $9.6 billion P&ID fraud. The suspect, who remains at large along with the company, was arraigned in absentia on November 25, 2022, facing an eight-count charge of money laundering. During the arraignment, neither Fantoli nor any legal representative appeared in court. Following an application…
