By Ajibola Osungbohun The judge in the Federal High Court, Lagos, has told Erisco to withdraw its case against Mrs Chioma Egodi. He made the statement during a dramatic court session when the counsel for Erisco said he forgot evidence at home. In late 2023, Mrs Chioma Egodi made a review of a product by…
By Ajibola Osungbohun The Transmission Company of Nigeria announced temporary reduction in bulk power supply to Ikorodu and Odogunyan 132/33kV transmission substations, which supply IKEDC and IBEDC for some parts of its franchise areas, as well as Sagamu Line 1, Sagamu Line 2, and Maryland Line 2 on the 132kV network within Lagos State. This…
The Nigerian Civil Aviation Authority (NCAA) has taken swift action following an incident involving a Dana Air plane at the Lagos airport. After the plane veered off the runway, all passengers and crew were safely evacuated. However, the incident prompted an immediate investigation and subsequent suspension of Dana Air’s Air Operators Certificate (AOC) by the…
The Director-General of OYSAA, Mr. Oludolapo Eso-Ajanaku, speaking after a recent enforcement exercise in Ibadan, announced strict measures against advertising practitioners who haven’t paid their bills to the state government. With over N650 million in unpaid revenue, despite efforts to reconcile accounts, the agency is shifting to tougher enforcement to address the growing debt. This…
The EFCC has accused Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), of various offenses related to his implementation of the naira swap policy and the withdrawal of funds from the Consolidated Revenue Fund of the Federation. According to the charge sheets obtained by PUNCH Online, Emefiele is facing a four-count…
Dangote Petroleum Refinery has slashed the price of diesel to N1000 per liter, marking a further reduction from its initial price of N1200. This announcement comes just three weeks after the refinery initially rolled out its product at the N1200 rate.
The National Bureau of Statistics (NBS) announced that Nigeria’s annual inflation rate surged to 33.20% in March, up from 31.70% in February. This marks a 1.50% increase compared to the previous month. Year-on-year, the inflation rate rose by 11.16%, significantly higher than the rate recorded in March 2023, which stood at 22.04%.
The Centre for the Promotion of Private Enterprise (CPPE) has urged careful implementation of the proposed bank recapitalisation to prevent disruptions to the banking system and the economy. Muda Yusuf, CPPE’s director, emphasized the importance of ensuring adequate capitalisation to maintain the efficiency and stability of the financial system. Capital adequacy is crucial for banks…
After a six-year hiatus, Nigerian carrier Air Peace has reactivated the bilateral air service agreement (BASA) between Nigeria and the United Kingdom by launching a direct flight to London. The inaugural flight, which landed at London Gatwick, was met with widespread applause and jubilation, with the federal government pledging its support to the airline. The…
The Manufacturers Association of Nigeria (MAN) has expressed deep concern over the recent decisions of the Monetary Policy Committee (MPC), warning that the increase in the Monetary Policy Rate (MPR) to 24.75% would exacerbate access to credit challenges and harm the competitiveness of the Nigerian manufacturing sector. In a statement titled “Position of Manufacturers Association…