The Federal High Court in Abuja has adjourned the money laundering case against former Kogi State Governor, Yahaya Bello, until October 30, 2024. The adjournment was granted by Justice Emeka Nwite following Bello’s appeal to the Supreme Court, seeking to overturn the arrest warrant issued by the trial court on April 17. During the hearing, Bello’s defence counsel, A.M. Adoyi, informed the court that the arraignment matter, which is under appeal, had been taken to the Supreme Court. Adoyi referenced the Court of Appeal ruling on August 28 that directed Bello to appear for arraignment before Justice Nwite. He also…
Author: Editor Francis
The Federal Government, through the National Salaries, Incomes, and Wages Commission (NSIWC), has announced that the implementation of the new minimum wage will begin in July 2024. The NSIWC Chairman, Ekpo Nta, disclosed this during a press briefing on Tuesday in Abuja. According to Nta, the decision is based on the date the President signed the bill into law, following its passage by the National Assembly. This clarification contradicts an earlier statement by the Minister of State for Labour, Nkiruka Onyejeocha, who had announced that the new wage would be effective from May 1, 2024. The implication of this decision…
President Bola Tinubu has called for debt forgiveness from creditors and multilateral financial institutions for Nigeria and other developing countries. Mr Tinubu made the appeal while addressing world leaders during the General Debate of the ongoing 79th Session of the United Nations General Assembly at the UN headquarters in New York, U.S., according to a statement by a presidency’s spokesman Stanley Nkwocha on Wednesday. Vice-President Kashim Shettima is representing Mr Tinubu at the global forum. Mr Tinubu also emphasised the need for reforms in the international financial architecture and a transparent multilateral trading system. The president expressed the hope that…
The Federal Government may be spending approximately N236 billion per month to subsidize Premium Motor Spirit (PMS), commonly known as petrol, sourced through the Nigerian National Petroleum Company (NNPC) and the Dangote Petroleum Refinery. This comes as Alhaji Aliko Dangote, President and CEO of the Dangote Group, urged the government to completely eliminate fuel subsidies, arguing that this move would help determine Nigeria’s actual petrol consumption. Dangote’s call for the removal of subsidies received support from the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Centre for Promotion of Private Enterprise (CPPE) on Tuesday. Reports also indicated that…
The Centre for the Promotion of Private Enterprise (CPPE) has criticized the Central Bank of Nigeria (CBN) for its decision to implement a fifth consecutive interest rate hike, despite the ongoing economic challenges in the country. In a statement released on Tuesday, CPPE’s Executive Director, Muda Yusuf, responded to the CBN’s latest move, which saw the Monetary Policy Committee (MPC) increase the interest rate by 50 basis points to 27.25% during its 297th meeting in September 2024. Yusuf expressed concern that the CBN’s continued tightening of monetary policy is out of step with the needs of the private sector and…
The Monetary Policy Committee of the Central Bank of Nigeria has further increased the Monetary Policy Rate by 50 basis points to 27.25 per cent from 26.75 per cent. The Governor of the CBN, Yemi Cardoso, made this known on Tuesday in Abuja, while reading the communiqué from the 297th meeting of the MPC. Mr Cardoso announced that the committee also decided to raise the Cash Reserve Ratio by 50 basis points from 45 percent to 50 per cent for Deposit Money Banks, while it is 14 per cent to 16 per cent for merchant banks. The committee, however, retained…
The Oba of Benin, Oba Ewuare II, has refuted a claim made by Comrade Adams Oshiomhole that the monarch advised him against supporting the candidature of Governor Godwin Obaseki in 2016. The denial occurred on Sunday when Oshiomhole, alongside All Progressives Congress (APC) leaders, visited the Benin palace after Senator Monday Okpebholo’s victory in the Edo governorship election. During the visit, Oshiomhole, while kneeling before the Oba, apologized for what he described as a “poor judgement” in choosing Obaseki as his successor in 2016, despite what he claimed was the monarch’s advice against it. Oshiomhole stated: “I wrongly supported…
Aliko Dangote, founder of Dangote Petroleum Refinery, has called on the Nigerian government to end the fuel subsidy regime, citing its unsustainability. In an interview with Bloomberg on Monday, Dangote argued that continuing the subsidies leads to the government “paying what they are not supposed to be paying,” making it essential to abolish them. Dangote emphasized that the President Bola Tinubu administration cannot afford to maintain petrol subsidies. President Tinubu had initially announced the end of fuel subsidies during his inauguration in May 2023 but reinstated them as inflation soared. In early September, the cap on gasoline prices was eased,…
The trial of Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB), is set to continue today, September 24, 2024, at the Federal High Court in Abuja, barring any last-minute changes. Kanu has been in court since his rearrest and repatriation to Nigeria from Kenya in 2021. He faces charges related to terrorism brought against him by the Nigerian government. A notice from Kanu’s lead counsel, Aloy Ejimakor, confirmed that the hearing will begin at 10 a.m., an earlier time than previously scheduled. The hearing will take place at the same venue, the Federal High Court in Abuja.…
The Central Bank of Nigeria (CBN) has initiated the recruitment process to appoint substantive directors for key departments, following the exit of several senior staff members, including those who were retired or relieved of their duties in the past year. An internal advertisement seen by Govima reveals that the apex bank is seeking to fill seven director-level positions. These include the Director of Corporate Communications Department (CCD), Director of Financial Policy and Regulation Department (FPRD), Director of Other Financial Institutions Supervision Department (OFISD), Director of Procurement & Support Services Department (PSSD), Director of Banking Services Department (BKSD), Director of Medical…
The National Chairman of the All Progressives Congress (APC), Dr. Abdullahi Umar Ganduje, has stated that the party will use the strategy that secured its victory in the Edo State governorship election to win the upcoming election in Ondo State, scheduled for November 16, 2024. Speaking in Abuja on Monday while celebrating Senator Monday Okpebholo’s victory in the Edo election with members of the party’s election situation room, Ganduje, a former governor of Kano State, expressed confidence in the APC’s ability to expand its influence in other key regions. He revealed that the party is developing strategies to win not…
The Peoples Democratic Party (PDP) has officially rejected the results of the Edo State Governorship election, which were announced by the Independent National Electoral Commission (INEC). During a press conference held in Abuja on Monday, PDP Acting National Chairman, Umar Damagum, called on Nigerians to support the party’s stance. On Saturday, INEC declared Senator Monday Okpebholo of the All Progressives Congress (APC) as the winner of the election, with 291,667 votes. The PDP candidate, Asue Ighodalo, secured 247,274 votes, while Labour Party’s Olumide Akpata came in third with 22,763 votes. The APC won 10 out of the 18 local government…