EFCC Denies Assaulting Suspects in Ondo

Youths in Ondo State protested on Monday against a sting operation by the Economic and Financial Crimes Commission (EFCC) at several nightclubs in Akure, the state capital, over the weekend. The EFCC’s Ibadan Zonal Directorate confirmed the arrest of 127 individuals suspected of internet fraud during the operation. Protesters gathered at the First Bank area…

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Lawmakers Approve N98.5bn 2024 FCT Supplementary Budget

The House of Representatives has approved the 2024 supplementary budget for the Federal Capital Territory (FCT), amounting to N98.5 billion. The budget, which passed its second and third readings, was presented by Aliyu Betara, Chairman of the House Committee on FCT. During the plenary session, Betara referenced the 1999 Constitution, noting that a communication from…

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Labour Leaders Reopen Oyo State Secretariat

The state leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have reopened the Oyo State government secretariat following the suspension of the national strike. Initially, union leaders had blocked the secretariat’s entrance gates and enforced a sit-at-home directive by patrolling various ministries, departments, and agencies, effectively halting all activities within the…

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Labour Unions Suspend Nationwide Strike

The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have suspended their nationwide strike for one week. TUC President Festus Osifo announced this on Tuesday in Abuja, following a joint extraordinary national executive council meeting of the unions. Osifo indicated that a formal communique would be issued soon. The strike, initiated on Monday, was…

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CBN Revokes Heritage Bank’s License

The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect. This decision was announced in a statement by the Acting Director of Corporate Communications, Hakama Sidi Ali. “The action has become necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020. The Board and Management…

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FG Urged to Reinstate N35,000 Wage Award

The federal government has been urged to reinstate the N35,000 wage award to workers, which was suspended in February 2024 pending further negotiations on a new minimum wage. This request was part of an agreement reached during a last-minute meeting convened on Sunday by Senate President Godswill Akpabio and House of Representatives Speaker Tajudeen Abbas,…

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Labour’s Strike Notice Premature and Illegal, Says Attorney General of Nigeria

Attorney General and Minister of Justice, Prince Lateef Fagbemi, has condemned the call for industrial action by organized labour, deeming it “premature, ineffectual, and illegal.” This statement follows the Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) declaration of an indefinite nationwide strike starting June 3, 2024. Prince Fagbemi pointed out that discussions on…

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FG Shuts Down Illegal Mining Site in Abuja

The Federal Government has arrested three suspects and sealed an illegal mining site in Gaube, Kuje Area Council of the Federal Capital Territory (FCT) in a bid to combat illegal mining and curb revenue loss in the sector. The operation, executed by the Mining Marshals under the leadership of Assistant Commandant John Onoja Attah, was…

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FG Issues OIML Certification for Weights and Measures

The Federal Government has granted the International Organization of Legal Metrology (OIML) Certification System to Zonal Coordinators of Weights and Measures. This announcement was made by Nura Rimi, Permanent Secretary of the Federal Ministry of Industry, Trade, and Investment, during a three-day capacity-building workshop in Nasarawa State, north-central Nigeria. Rimi emphasized that these standards are…

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FG to Resume Conditional Cash Transfer Program

President Bola Tinubu has announced plans to restart the conditional cash transfer program, which was previously suspended. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, made this announcement during a ministerial sectoral briefing marking the first year of President Tinubu’s administration in Abuja. Edun stated that the program will deliver direct…

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Nigeria’s Natural Resources to Be Leveraged for Economic Growth – Lokpobiri

Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), has reaffirmed the administration’s commitment to harnessing Nigeria’s natural resources for economic prosperity, in line with President Bola Tinubu’s renewed Hope agenda. At a ministerial briefing marking the administration’s first year in office, Senator Lokpobiri addressed the challenges that have plagued the oil and gas…

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Emefiele to Forfeit $4.7M, N830M, and Properties

A Federal High Court in Ikoyi, Lagos, has ordered the interim forfeiture of $4,719,054 and N830,875,611, along with various properties, linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. Justice Yellim Bogoro issued the order on May 23, 2024, following an ex-parte application by the Economic and Financial Crimes Commission…

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FG to Develop Framework for Gemstone and Jewelry Industry – Alake

The Federal Government plans to establish a regulatory framework to protect the gemstone and jewelry industry from sabotage. Dr. Dele Alake, Minister of the Solid Minerals Department, announced this at a National Gemstone and Jewelry Show and the graduation ceremony for students trained under the Mineral Sector for Economic Diversification (MinDiver) project in Abuja. Dr….

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Minister Bagudu Advocates Technological Advancements in Budgeting Processes

Sen. Abubakar Atiku Bagudu, the Minister of Budget and Economic Planning, has urged Planning Officers nationwide to embrace technology-driven approaches to enhance budgeting and planning procedures, particularly in rural areas. During a visit to Abuja by Muktar Ahmed, the Commissioner of the Kaduna State Planning and Budget Commission, Sen. Bagudu emphasized the importance of leveraging…

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EFCC Directs Embassies to Conduct Transactions in Naira

The Economic and Financial Crimes Commission (EFCC) has issued a stern directive to foreign missions operating in Nigeria, mandating them to conduct all financial transactions in the local currency, the naira. In a letter addressed to the Ministry of Foreign Affairs, EFCC Chairman, Ola Olukoyede, emphasized the imperative for Nigerian embassies abroad to adhere strictly…

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Suswam —Tinubu administration is incapable of resolving Nigeria’s economic challenges.

Gabriel Suswam, former Governor of Benue State, expressed skepticism about the ability of the government led by President Bola Tinubu to address Nigeria’s economic challenges. In an interview on Channels Television, Suswam argued that the Tinubu administration lacks the capability to improve the country’s economic situation, which he believes was worsened by the policies of…

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EFCC Confirms Receipt of $760,000 Reimbursement from Abuja American School

The Economic and Financial Crimes Commission (EFCC) has acknowledged the reimbursement of $760,910 by the American International School, Abuja. This payment, originally made as an advanced school fee by former Kogi State Governor Yahaya Bello for his children, was confirmed by EFCC spokesperson Dele Oyewale during a national television broadcast on Saturday. The reimbursement initiative…

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