Author: Akintayo Adams

The Deputy Speaker of the House of Representatives, Benjamin Kalu, has promised, on behalf of the House, to intervene in the recent increase in electricity tariff by the Nigerian Electricity Regulatory Commission upon its resumption on April 23, 2024. He made the vow while speaking virtually on the special edition of “Ben Kalu’s Mandate”, a call-in radio programme of FLO FM, Umuahia, Abia State, on Monday. “It’s a general problem. While I was on my holidays, one of the things I was bothered with was a letter sent to me by the majority leader of the House on the need…

The Kingdom of Saudi Arabia, on Monday, disclosed that the crescent marking the end of the month of Ramadan has not been sighted, which points to the fact that the fasting will continue on Tuesday. It also added that the Eid-El-Fitr would hold on Wednesday, April 10 to mark the beginning of the new Islamic month of Shawwal. This disclosure was made through a post on Haramin’s official Facebook page, a page synonymous with news fot Muslim community across the world. “The crescent moon was not sighted in Saudi Arabia. Therefore, Eid Al Fitr will be celebrated on Wednesday, 10th…

The Central Bank of Nigeria have written to inform banks in Nigeria to stop the use of foreign currencies as collateral for naira loans. This was disclosed in a circular uploaded to its website on Monday in which the apex bank said it had noticed the use of FCY by bank customers as collateral for naira loans and, therefore, puts an end to it with immediate effect. The circular titled “The use of foreign-currency-denominated collaterals for naira loans” with ref number: BSD/DIR/PUB/LAB/017/004 reads “The Central Bank of Nigeria has observed the prevailing situation where bank customers use foreign currency (FCY)…

Hours after Philip Shaibu was impeached by the state house of assembly, Omobayo Godwin has been inaugurated as the Edo Deputy Governor. The 37-year-old was sworn in around 1:40 pm on Monday by the Chief Judge of Edo State Justice Daniel Okungbowa. In a day that began with the impeachment of Shaibu as the state’s deputy governor, Omobayo’s inauguration at the Edo State Government House in Benin City marks a major milestone in the political history of the state. In his inaugural speech, Omobayo thanked his principal, Governor Godwin Obaseki, and the leadership of the Peoples Democratic Party, for finding…

The Central Bank of Nigeria (CBN) has announced the sales of foreign exchange (FX) to about 1500 bureau de change (BDC) operators across the country at the rate of ₦1,101/$. This was disclosed in a circular titled, ‘Sales of FX to Meet Retail Market Demand For Eligible Invisible Transactions’, dated April 8. The latest round of sales come after the previous which held on the 25th of March, where the apex bank sold $10,000 to each BDC at a rate of ₦1,251/$1. “We write to inform you of the sale of $10,000 by the Central Bank of Nigeria (CBN) to…

Governor Godwin of Edo State has picked Omobayo Godwin as his deputy, hours after the impeachment of Philip Shaibu. His inauguration is to take place on Monday at the Edo State Government House in Benin City. He was born on July 19, 1986, and Omobayo hails from Akoko Edo Local Government Area of the state. He has a B.Eng Degree in Electrical and Electronics Engineering and an MSc in Public Administration from the University of Benin (UNIBEN), preparing for the role of a professional and an expert in public administration. He is a registered member of the Nigerian Society of…

The Lagos State High Court sitting in Ikeja has ordered the remand of erstwhile Central Bank Bank (CBN) Governor, Godwin Emefiele, in the custody of the Economic and Financial Crimes Commission (EFCC). Justice Rahman Oshodi gave the remand order over alleged abuse of office and and $5.5 billion and ₦2.8 billion fraud. Meanwhile, Emefiele’s co-defendant, Henry Isioma-Omoile, was ordered to be detained at Ikoyi Custodial Centre. The defendants counsel, Mr A. Labi-Lawal, had in his two bail application urged the court to grant the defendants bail on self recognition and on liberal terms pending the determination on the case. Labi-Lawal,…

The Edo State House of Assembly has formally impeached Philip Shaibu, deputy governor of the state. The lawmakers removed Shaibu, who hasn’t been on the same page with Governor Godwin Obaseki, on Monday morning. Shaibu had declined to honour invitations extended to him by the seven-man panel which investigated allegations against him. His refusal convinced the panel led by Justice S.A. Omonua (rtd) to recommend his removal, saying Shaibu wasted the opportunity for defence. At its sitting on Friday, Justice Omonua bemoaned the deputy governor’s absence. “This is the position of the panel. The panel adjourned sitting to today (Friday) for…

Tigran Gambaryan, an executive of Binance Holdings Ltd. has pleaded not guilty to the money laundering charges leveled against him by the Economic and Financial Crimes Commission. Gambaryan was arraigned on Monday by the EFCC before Justice Emeka Nwite of the Federal High Court in Abuja. The EFCC had accused Binance, Gambaryan, and fleeing Nadeem Anjarwalla of concealing the source of the $35,400, 000 generated as revenue by Binance in Nigeria knowing that the funds constituted proceeds of unlawful activity. The arraignment stalled on April 4 following an objection from Gambaryan’s counsel, Mark Mordi, (SAN). Mordi had insisted that his…

The Sultan of Sokoto, Muhammad Sa’ad Abubakar III has called on Muslims across the nation to look out for the new moon marking the end of Ramadan 1445AH on Monday. This was contained in a statement released on Sunday by the Chairman of the Advisory Committee on Religious Affairs of the Sultanate Council in Sokoto, Sambo Wali. “Muslims are therefore requested to start looking for the new moon of Shawwal 1445AH on Monday and report its sighting to the nearest district or village head for onward communication to His Eminence, Alhaji Muhammad Sa’ad Abubakar, CFR, , the Sultan of Sokoto,”…