In a recent court session, Justice Akintayo Aluko addressed a significant development in the case between United Bank of Africa (UBA) and Stallion Nigeria Limited. UBA, represented by Mr. Temilolu Adamolekun, is seeking to recover an alleged sum of ₦156bn from Stallion Nigeria Limited and its subsidiaries. The bank has appointed a Receiver over some…
By Ayomide Otitoju Chief Davidson Alaribe, the 60th President of the Institute of Chartered Accountants of Nigeria (ICAN), has urged accountants to uphold the profession’s principles while instilling innovation and integrity to help them navigate difficult times. Alaribe made this statement during the investiture of Mr. Olugbenga Daniel Sholarin, FCA, as the 7th Chairman of…
The Corporate Affairs Commission (CAC) has announced an extension for the registration of Fintech Operators, also known as Point of Sales (POS) Operators. The new deadline is set from July 7, 2024, to September 5, 2024, to accommodate operators, particularly in remote areas, who may have faced network issues. Earlier, in May 2024, the CAC…
The cost of maintaining a healthy diet in Nigeria has surged by 10.98% between February and May 2024, increasing from N938 to N1,041 per adult per day. This rise significantly outpaces general and food inflation rates, further limiting access to nutritious food for many Nigerians. The Cost of a Healthy Diet (CoHD), which measures physical…
The National Drug Law Enforcement Agency (NDLEA) has apprehended a syndicate led by a couple, Agbakoba John Mmadu, 54, and Agbakoba Ijeoma Chinwe, 39, along with their associate, Okoye Ifeoma Maryjane, 31, for their involvement in the packaging, distribution, and trafficking of cocaine within and outside Nigeria. NDLEA spokesperson Femi Babafemi, in a statement on…
The Socio-Economic Rights and Accountability Project (SERAP) secured a significant legal victory when Hon. Justice Deinde Isaac Dipeolu ruled in favor of their Freedom of Information suit (No. FHC/L/CS/853/2021). The court ordered the former Minister of Humanitarian Affairs, Disasters Management, and Social Development to disclose the details of the N729 billion expenditure. As disclosed by…
During a speech at a national Catholic event held at the city’s convention centre, Pope Francis expressed concerns about the current state of global democracy. “Democracy is not in good health in the world today,” the pope stated, without specifying any particular countries. Pope Francis warned against “ideological temptations and populists,” coinciding with the second…
The controversial Rwanda deportation scheme, which aimed to deter illegal immigration by sending asylum seekers to Rwanda, has been officially abandoned. “The Rwanda scheme was dead and buried before it started… I’m not prepared to continue with gimmicks that don’t act as a deterrent,” declared Sir Keir Starmer at his first news conference following Labour’s…
The management of Oduduwa University has debunked a report currently disseminated on social media, linking the institution with cult-related clashes. As stated in a statement, Oduduwa University has zero tolerance for cultism-related affairs and wishes to inform the public that nothing of such ever happened at any time within the school. In the statement, the…
