News
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BDCs back CBN’s directive stopping use of domiciliary accounts as collateral
The Association of Bureaux de Change Operators of Nigeria has expressed support for the Central Bank of Nigeria’s directive to banks to stop the use of domiciliary accounts as collateral for naira loans. President of ABCON, Aminu Gwadabe, revealed the association’s stance in a statement on Thursday, pointing out that…
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NAFDAC recalls Benylin syrup over toxicity concerns
The National Agency for Food and Drug Control NAFDAC has alerted the public on the recall of one lot of Benylin Paediatric Syrup manufactured by Johnson & Johnson, following recent toxicity findings in the laboratory on the product. A statement released by the agency today April 11 says laboratory analysis…
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EFCC to arraign Bobrisky over alleged N180.7m laundering, abuse of N490,000 today
The Economic and Financial Crimes Commission, EFCC, will today, arraign popular cross-dresser, Idris Okuneye aka Bobrisky before a Federal High Court sitting in Lagos over naira abuse and failure to declare his firm’s activities involving N180.7 million. The anti-graft agency, yesterday, filed the charge against the social media celebrity, through…
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Federal govt announces hike in electricity tariffs
The Nigerian Electricity Regulatory Commission (NERC) has ordered an immediate upward review of electricity tariffs in the country from Wednesday 3 April. The NERC Vice Chairman, Musiliu Oseni, disclosed this while speaking at a press conference in Abuja on Wednesday. Mr Oseni said the new rate will be imposed only…
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Expedite action on petitions against indicted public officials, CSOs urge Reps
ABUJA – A coalition of Civil Society Organisations (CSOs), led by the Network Against Corruption and Trafficking Initiative (NACAT), has urged the House of Representatives Committee on Public Petitions to accelerate its efforts in addressing petitions against indicted public officials. The CSOs expressed concerns over the delayed response to petitions…
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Diesel price drops as Dangote sells N1,225/litre, supplies petrol May
The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by the Dangote Petroleum Refinery. It was gathered on Tuesday that the…
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‘Electricity Tariff To Rise By 300%’
Power companies will be allowed to raise electricity prices to N200 ($0.15) per kilowatt-hour from N68 for urban consumers this month, the Bloomberg news agency, citing sources, reported Tuesday. It was learnt that these customers represent 15% of the population that the government says consume 40% of the nation’s electricity,…
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‘Why Nigeria’s oil belongs to the North’
Former presidential aide, Dr. Usman Bugaje, in this interview, speaks on the Tinubu Presidency and his misgivings about what is happening. He did not hold hostages. He insists he criticises Tinubu because when his fellow northerner, President Muhammadu Buhari, was doing the wrong things, he spoke against it. Bugaje can…
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Electricity tariff hike looms as FG raises gas price
The Federal Government, on Monday, announced that the new price of natural gas for power generation companies is now $2.42 per metric million British thermal unit, higher than the previous rate of $2.18mmbtu. Nigeria generates over 70 per cent of its electricity from thermal power plants that are fired by…
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Three presidential jets proposed for sale
Three jets in the Presidential Air Fleet (PAF) are to be sold off, it was learnt at the weekend. This is part of the cost-saving measures being adopted by the Tinubu Administration, an official told our correspondent. There are 10 aircraft in the fleet – six jets and four helicopters…