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Saturday, 14 September 2024 04:44

FG bought forex worth N701m for Remi Tinubu’s foreign trips in 3 months, Punch investigation reveals

In the span of three months, the Federal Government spent approximately N701m to fund the foreign trips of the country’s First Lady, Remi Tinubu, to five countries, Saturday PUNCH can confirm. Recall that in 2023, the Federal Government allocated N1.5bn for the procurement of vehicles for the Office of the First Lady. This budgetary allocation was outlined in the N2.1tn supplementary budget for 2023 approved by the National Assembly. A breakdown of the budget shows the government planned to spend N2.9bn on sport utility vehicles for the Presidential Villa and another N2.9bn to replace operational vehicles for the Presidency. Former…

Saturday, 14 September 2024 04:42

FG imposes ‘heavy’ fines on Discos for overbilling customers

The Nigerian Electricity Regulatory Commission (NERC) has fined the Abuja Electricity Distribution Company (AEDC) and other electricity distribution companies for overbilling customers. NERC published the fine in its September 2024 supplementary order on Friday. According to the electricity regulator, out of all the distribution companies (DisCos), AEDC has the highest fine of N1.69 billion. The order, signed by Musiliu Oseni, NERC vice-chairman, and Dafe Akpeneye, commissioner for legal, licensing, and compliance, follows a comprehensive investigation into AEDC’s billing practices. According to the order, NERC discovered that AEDC and other distribution companies overcharged customers between January and September 2023. The commission…

Saturday, 14 September 2024 04:41

FG declares Monday public holiday for Eid-Ul-Mawlid

The Federal Government has declared Monday, 16th September, 2024 as Public Holiday to mark the celebration of the Eid-ul-Mawlid, the birth of the Holy Prophet Muhammad (Peace Be Upon Him). The Minister of Interior, Olubunmi Tunji-Ojo, made the declaration on behalf of the Federal Government on Friday, in a statement by Magdalene Ajani, Permanent Secretary in the ministry. He congratulated Muslim Ummah both at home and in the Diaspora on this occasion. Tunji-Ojo urged the Muslim Ummah and, by extension, Nigerians to imbibe the spirit of patience, sacrifice, and resilience. While congratulating the Muslim Ummah on the occasion, the Minister…

Friday, 13 September 2024 04:51

CBN issues new directives to enable tracking of PoS transactions

The Central Bank of Nigeria (CBN) has released a new directive to Payment Service Providers (PSPs), requiring them to comply with enhanced routing guidelines for Point of Sale (PoS) transactions. This move is aimed at strengthening the monitoring of electronic transactions across Nigeria. The directive, issued on September 11, 2024, follows CBN’s initiative to diversify the Payment Terminal Service Aggregator (PTSA) structure, which previously operated through a single aggregator. In a circular, signed by Oladimeji Yisa Taiwo on behalf of the CBN’s Payments System Management Department, the apex bank mandates that all PoS transactions from merchant and agent locations—whether physical…

Thursday, 12 September 2024 04:42

Maiduguri flood update: 30 dead, 1m people affected. Here’s how the disaster is being managed

Severe flooding has ravaged Borno State in northeastern Nigeria, leaving a trail of devastation in its wake. The disaster, which has affected nearly one million residents, follows the collapse of the Alau Dam, causing widespread destruction across Maiduguri, the state capital. At least 30 people have been confirmed dead, with fears that the casualty figure could be much higher, as many, including children, remain missing. The flooding, triggered by heavy rains and the overflow of the Alau Dam, swept through communities, submerging homes, farmlands, and critical infrastructure. Key locations affected include the Monday Market, Gwange, Shehuri, and the Shehu of…

Thursday, 12 September 2024 04:41

Shield the poor from adverse effects of petrol price hike, IMF urges FG

In response to Nigeria's ongoing fuel pricing and supply challenges, the International Monetary Fund (IMF) has called on the Federal Government to prioritize the protection of vulnerable citizens from the impact of rising petrol prices. Speaking in an interview with Arise TV, Christian Ebeke, IMF's Resident Representative in Nigeria, emphasized the importance of accelerating social safety programs to support those hardest hit by economic policies, particularly amid the current inflation and multiple economic shocks. Ebeke noted that petrol prices in Nigeria remain below market rates, suggesting a potential further increase. This comes on the heels of a similar statement from…

Wednesday, 11 September 2024 04:33

65m BVN holders verified - NIBSS

The number of verified Bank Verification Number (BVN) holders in Nigeria has soared to 65 million, according to the latest report published by the Nigeria Inter-Bank Settlement System (NIBSS). The Bank Verification Number (BVN) system was introduced by the Central Bank of Nigeria (CBN) in 2014 as a biometric identification initiative aimed at reducing fraud and enhancing security in the banking industry. The BVN serves as a unique identifier that links bank accounts across multiple financial institutions, ensuring streamlined processes and improved customer verification. Since its inception, the system has grown exponentially, now covering a significant portion of Nigeria’s banked…

Wednesday, 11 September 2024 04:32

70% of Maiduguri submerged in floods as dam collapses

Thousands of residents in Maiduguri have been displaced after a catastrophic flood, caused by the overflow of the Alau Dam, submerged 70% of the city. The flood, which is Borno State's worst disaster in three decades, has also resulted in a jailbreak, with the Nigerian Correctional Service recapturing three escaped inmates, and the death of 80% of animals at the Sanda Kyarimi Park zoo. The National Emergency Management Agency (NEMA) confirmed the extent of the devastation, reporting that key locations in the city, including the Shehu of Borno’s palace, the state secretariat, and the University of Maiduguri Teaching Hospital, are…

Tuesday, 10 September 2024 04:53

DSS releases NLC president Ajaero after public outrage over arrest

The Department of State Services (DSS) released Joe Ajaero, President of the Nigeria Labour Congress (NLC), following intense public outrage over his arrest. Ajaero, who was detained while en route to the United Kingdom for official duties, was granted bail late Monday night. His arrest sparked widespread condemnation from civil society organizations, pro-democracy activists, and labour unions, all demanding his immediate and unconditional release. Pro-democracy advocate and African Action Congress presidential candidate, Omoyele Sowore, announced Ajaero’s release, calling the arrest a "fascist" move by the government on social media. Ajaero was apprehended at Nnamdi Azikiwe International Airport, a development that…

Tuesday, 10 September 2024 04:52

Don’t use this made-in-Germany soap, NAFDAC warns Nigerians

The National Agency for Food and Drug Administration and Control(NAFDAC) has issued public alerts, warning Nigerians against the use of a popular bar soap and some drug products. The NAFDAC warning follows separate alerts issued by the countries where the products were manufactured. The agency, which issued the warning via posts on its X handle on Monday, said the soap product was found to contain chemicals that could harm human reproductive organs and unborn children, and cause “skin sensitisation.” The affected products, according to NAFDAC, are Dove Beauty Cream Bar Soap manufactured in Germany and some unregistered drug products that…

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Monday, 09 September 2024 13:05

Security operatives arrest NLC president, Joe Ajaero

Security operatives suspected to be personnel of the Department of State Services (DSS) have arrested Joe Ajaero, president of the Nigeria Labour Congress (NLC). Benson Upah, spokesperson of the NLC, said Ajaero was arrested on Monday morning at the Nnamdi Azikiwe Airport in Abuja as he was about to board a flight to the UK. “The assault on Nigerian workers continues. President of the NLC, Joe Ajaero, was arrested and abducted by men of the DSS at the Nnamdi Azikwe Airport Abuja this morning on his way to attend an official engagement of TUC United Kingdom and he is now…

Monday, 09 September 2024 13:04

After Ajaero’s arrest, DSS operatives invade SERAP’s office in Abuja

Operatives of the Department of the State Services (DSS) have laid siege to the office of the Socio-Economic Rights and Accountability Project (SERAP) in Abuja. This comes hours after DSS personnel arrested Joe Ajaero, the president of the Nigeria Labour Congress (NLC). Details of the operation at SERAP’s office are still sketchy, but according to a post via X, the legal and advocacy organisation said the operatives demanded to see its directors. “Officers from Nigeria’s State Security Service (SSS) are presently unlawfully occupying SERAP’s office in Abuja, asking to see our directors. “President Tinubu must immediately direct the SSS to…

Monday, 09 September 2024 04:53

Petrol importation to continue as NNPC, Dangote tango lingers

Oil marketers may begin the importation of Premium Motor Spirit, popularly called petrol, following the recent declaration by the Nigerian National Petroleum Company Limited that it would only fully offtake the product from the Dangote Petroleum Refinery if the market prices of the commodity were higher than the pump prices in Nigeria. NNPC also declared that Dangote and other domestic refineries were free to sell directly to any marketer on a willing buyer, willing seller basis, adding that it had no desire or intention to become the distributor for any entity in a free market environment. This is, however, contrary…

Monday, 09 September 2024 04:52

At least 48 killed in fuel truck explosion in Niger state

At least 48 people were killed on Sunday in a fuel tanker truck explosion following a collision with another vehicle in north-central state of Niger, the state's disaster management agency said. The State Emergency Management Agency in Niger state said the fuel truck collided with a truck carrying travellers and cattle. Several other vehicles were also caught up in the accident, it said. The agency's spokesperson Hussaini Ibrahim put the death toll at 48 and officials were still trying to clear the scene of the incident. Nigeria's state-owned firm NNPC Ltd last week hiked the price of gasoline by at…

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