Friday, June 26, 2026
Home Blog Page 332

ICPC arraigns Deputy High Court Registrar over fraud

0

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned a Deputy Chief Registrar of the Federal High Court, Port Harcourt, Mrs. Nkem Apollonia Mba, for alleged involvement in fraudulent activities.

This was contained in a statement released by the Commision’s Spokeperson, Mrs Azuka Ogugua on Monday.

Mrs. Mba was docked on a three-count charge before Justice Leteem Nyordee, of the Federal High Court 12, Port Harcourt, for offences bordering on abuse of office and corrupt demand of gratification by a public officer.

One of the counts revealed that the Deputy Chief Registrar received a kickback of N500,000 through her bank account from the purchase of Automotive Gas Oil popularly known as diesel and other products. She however argued that the money was her two percent entitlement according to Order 16 of the Admiralty Jurisdiction (Procedure Rule) 2011.

The court heard that her offence contravened Section 10 and 19 of the Corrupt Practices and Other Related Offences Act, 2000, and is punishable under relevant sections of the same Act.

The accused pleaded “Not Guilty” when the charge was read to her. Consequently, her counsel, S. Somiari applied for bail praying the court to grant her bail on liberal terms.

The bail application was not opposed by the prosecuting counsel, Dr. Agada Akogwu. The trial judge in granting the prayers, admitted her to bail in the sum of N500,000 with a surety who must have landed property in Port Harcourt.

Justice Nyordee further ruled that the accused must deposit her international passport with the court Registrar. The case was then adjourned to 26th July for commencement of trial.

 

Increasing energy cost, currency depreciation, insecurity major challenges to investors- CPPE

0

Centre for the Promotion of Private Enterprise(CPPE), has highlighted increasing energy cost, currency depreciation, insecurity as major challenges facing investors in Nigeria.

CEO of CPPE, Dr Muda Yusuf stated this on Sunday in a document titled ‘Half Year Economic Review’.

This is coming as the Minister of Finance and Budget, Mrs Zainab Ahmed during the presentation of the 2023-2025 Medium Term Expenditure Framework(MTEF) held last week, painted a gloomy and disturbing picture of the state of government finances, suggesting that the government is on the brink of bankruptcy.

To add perspective to the situation of Nigeria’s economy, Muda gave a detailed analysis in the document cited by Nigerian Newssphere.

Yusuf said the key elements of the review are trends in our exchange rate, inflation, GDP debt profile and fiscal operations of government. The exchange rate depreciated significantly in the parallel market to over N600/dollar.

In his explanation, Dr Muda stated that in June inflation rose to 18.7 per cent due to “Exchange rate depreciation;  high energy cost; increasing financing of deficit by the Central Bank of Nigeria; problem of insecurity which is affecting Agricultural production and high cost of logistics.”

He disclosed that, “Investors across sectors in the economy are concerned about the high and increasing energy costs especially the cost of diesel which has gone up by over 300%, the cost of aviation fuel which has gone up by another 300%, the cost of gas which has increased by over 100%. The cost of PMS is still moderately tolerable because of the subsidy regime that is still currently being provided by government.

“Many businesses have suffered serious dislocations as a consequence of foreign exchange liquidity challenges, volatility and the depreciation of the currency. These have severely affected businesses across all sectors of the economy. Costs of operation and production have gone up from between 30-100% as a result of the exchange rate crisis in Nigeria.

Yusuf further stated that the “worsening insecurity in Nigeria is a major problem for investors in the economy. Many Industrialists especially those who are in the agro-allied sector are grappling with challenges getting raw materials from the crop producing areas of our country. This has continued to negatively impact capacity utilization, turnover, cost of production and the value delivery to shareholders. Some now source raw materials from neighbouring West African countries”.

 

 

Orange telecom vows to explore Nigeria’s market

0

Orange Telecom Group, has vowed to play a big part in Africa’s biggest service space, in diversified areas including mobile, data, fixed and financial technology support services.

Six-member team of Orange Middle East and Africa, led by Mrs. Victoria Adefala, who delivered this message to the Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Garba Danbatta during a business visit to his office in Abuja at the weekend, said the group is fully determined to do all it takes to get a slice of the Nigerian market.

“We are here to ensure steady investment for a long term. We also want to support the vision of the Commission in driving broadband penetration for a robust digital economy and leverage on local content development initiatives,” she said.

The delegation including Orange’s Africa Director of Regulatory Affairs, Mr. Jean Chalhoub, sought clarifications on several regulatory and policy issues that will engender the company’s speedy entry into the country.

Adefala said Nigeria is missing in Orange Group’s portfolio of combined network of over 140 million subscribers across 18 countries of its operations. “The large market potentials buoyed by the huge population, impressive Gross Domestic product (GDP) figure, proximity to our operations in the neighbouring African countries, as well as the appreciable friendly operating environment are great motivators for our expansion plan into the Nigerian telecom market”.

NCC’s chief, Danbatta who welcomed the Group’s quest to invest in Nigeria, reassured the delegation of a robust policy and regulatory environment that provides quality enabling environment, has the full support of the Federal Government, as evidenced in the contents of such instruments like the Executive Order 001 on the promotion of transparency and efficiency in the business, the Presidential Enabling Business Environment Council (PEBEC), and the Federal Government’s Economy Recovery and Growth Plan (ERGP) with ample provisions to protect investors.

He said the Commission has also taken several other regulatory steps aimed at improving the operational environment such as the ongoing collaboration with Nigerian Governor’s Forum (NGF) to reduce RoW charges on telecom infrastructure deployments; signed Memorandum of Understanding (MoUs) with various government and institutional stakeholders across the country;  developed guidelines and regulations to promote colocation of infrastructure, upheld a fair competitive operating environment, among among others.

“We welcome more investments into the Nigerian telecom sector. We have enabling laws and regulations that help us to engender a highly competitive telecom market that benefits both the service providers and the consumers.

NCC is here to ensure we support our licensees to thrive while also ensuring that they comply with Quality of Service (QoS) Key Performance Indicators (KPIs) set by the Commission because Nigerians will patronise an operator that provides them with affordable services at highest quality,” he said.

Danbatta who hosted the delegation with the two Executive Commissioners of the Commission, Engr. Ubale Maska (Technical Standards) and Mr. Adeleke Adewolu (Stakeholder Management) and some directors, said the successful auction of the 5G spectrum is a clear indication of investor confidence in the country, and that investment opportunities are available in voice, data, upstream and downstream of the sectors with certainty on investment returns.

For more than 30days now NAFDAC remains shut down over workers’ strike

0

For more than 31 days now, Nigeria’s apex food regulatory agency, National Agency for Food and Drug Administration and Control(NAFDAC) has remained shut down over staff’s welfare strike.

This implies that the agency have been unable to carry out its mandate of controlling and ascertaining the safety and wholesomeness of food imported through the seaports, airports and land borders.

Expert and Economic analyst, CEO, Centre for the Promotion of Private Enterprise(CPPE), Dr Muda Yusuf in a chat with Nigerian Newssphere on the development on Sunday said this poses danger to public health of Nigerians and disruptive of economic activities that require approvals and certification by NAFDAC.

According to him, “The development is quite worrisome. It increases the vulnerability of the country to importation and production of fake and substandard drugs and food products.

“This has very dire consequences for the health of the citizens. It is also very disruptive of economic activities that require approvals and certification by NAFDAC.

“We should appeal very strongly to the government to urgently intervene to bring an end to the industrial action. NAFDAC is a very strategic institution and we should not allow this situation to continue”, he stated.

Recall that on Wednesday, 22nd June, 2022, workers under the aegis, Members of the Medical and Health Workers Union of Nigeria(MHWUN) embarked on a strike to press home major demands bordering on welfare.

Earlier the union’s Secretary, Mr Ayodeji Adetoboye, disclosed that the union had proceeded on an indefinite strike action until all its demands are met after an emergency meeting with the Federal Area Council, Lagos and NAFDAC Branch of MHWUN.

According to him, some of the demands, are that ‘‘The congress frowned at the prolonged inaction on the payment of promotion arrears for 2018, 2019, 2020 and 2021; the congress agreed that action is long overdue as all measures to resolve the matter has not received management cooperation.

“The issue of additional allowances was discussed and the members of congress rejected the continued delay in the approval by National Salaries Income and Wages Commission. It was noted that since the reduction of NAFDAC salary in year 2013 all efforts to resolve the issue to ameliorate the suffering of staff members have ended on the table of NSIWC.

“The congress raised concerns on the issue of GMP inspection and GMP training that has been hijacked by some microscopic few. Members of congress were unanimous in rebuking management on the delay of the severance allowance and call for an immediate action to save these poor retirees.

“The congress frowned at the recent reversal of the skipping by management as evident in the invitation for promotion during the last promotion exercise. The congress demands immediate reversal to status quo.”

Meanwhile, contrary to NAFDAC Resident Media Consultant, Sayo Akintola comment that the strike would be short-lived, however the strike has lasted for a month now at the detriment of Nigeria’s food safety.

He earlier stated, “NAFDAC does not owe salary. To the best of my knowledge, as part of what they are demanding as of the last time this issue came up, was allowances, so it’s not salary.

“I can’t really say why it has not been paid but you know in an organisation as big as NAFDAC, there is usually a process so probably there is a process it has to go through but I know the last time the issue came up, they actually paid everything and that was why the whole thing died down then and they continued with negotiation with some other issues,” he said.

Newssphere gathered that efforts to end the strike by the DG NAFDAC, Prof Mojisola Adeyeye and the Permanent Secretary Ministry of Health, Mahmuda Mamman was unproductive.

BBNaija 7: Biggie introduces 12 new Housemates

0

Today, Biggie has introduced additional 12 Housemates to make it 24 on Season 7 of Big Brother Naija (BBNaija) Show 2022.

The current edition tagged Level UP kicked off on Saturday, with 12 housemates introduced.

Ebuka Obi-Uchendu, the host, introduced the remaining 12 on Sunday.

Below are the additional Housemates:
1. Allysyn
2. Adekunle
3. Doyin
4. Dotun
5. Eloswag
6. Bella
7. Chomzy
8. Diana
9. Giddyfia
10. Shegzy
11. Hermes
12. Chichi

Wike threatens to expose the truth about PDP

0

It seems that all is not yet over as the Rivers State Governor, Nyesom Wike, on Saturday, broke silence on the internal crisis in the Peoples Democratic Party following the party’s presidential primaries and subsequent selection of its vice presidential candidate.

Wike who tweeted via his official Twitter handle @GovWike noted that he would soon speak on recent happenings in the party.

“I will speak soon and Nigerians will know the actual truth of all that has transpired in the PDP in recent times,” the Rivers governor said.

The PDP’s presidential candidate, Atiku Abubakar, chose the Delta State Governor, Ifeanyi Okowa, as his running ahead of Wike whom many party chieftains had believed would emerge as the PDP’s vice-presidential candidate.

Those who opposed Atiku’s choice include the Benue State Governor, Samuel Ortom. The governor, had on June 29, 2022, during an interview on Arise TV, said Wike, and others who backed the Rivers governor for the PDP vice-presidential ticket slot deserved a detailed explanation from the party’s presidential candidate on his choice of running mate.

Ortom said it was surprising that Atiku could jettison the recommendation of 14 out of 17 members of the committee that recommended Wike as his running mate.

I am waiting for him (Atiku) because there are more things he is expected to do. I expected him to reach out to Wike who came second and he denied him the popular view of PDP members.

“14 out of 17 members say that Wike should be the VP but in his wisdom, he chose Governor Okowa. Governor Okowa is a nice man and my friend and I have no problem with him.

“But if we are in a democratic era, and 14 people out of 17 said that it should be Wike, and he (Atiku) in his wisdom gave it to Okowa, I expect more explanation, I expect him to talk to Wike first, I expect him to even reach out to some of us so that together we can work as a party,” Ortom said.

 

BBNaija season 7 kicks off with 12 Housemates

0

Big Brother Naija reality TV show season 7, tagged ‘Level Up’ has commenced with 12 Housemates

On Saturday, the Host Ebuka Uchedu unveiled the programme with it electrifying viewweship.

During the live launch, the first set of housemates were introduced to the show.
Six male and six female contestants made their way to the house, marking the start of a new journey to fame for them.

Groovy

Henry Olisa, popularly known as Groovy, is from Anambra State.

Beauty

Beauty Tukura hails from Taraba State and is the 2021 Miss Nigeria.

Khalid

Khalid Ismail is 22 years old. According to him, he’s single and not searching.

Ilebaye
Ilebaye hails from Kogi State and has stated that fans should not expect her to be in any relationship on the show.

Cyph

Bright Erekete, also known as Cyph, is a tech bro who doesn’t believe in love at first sight

K

She calls herself Nigerian Nicki Minaj. Amaka adds that she’s perfectly single, “single to the last letter of the word”.

Kess
He’s a 28-year-old married man who said his wife approves of him having fun.

Daniella Peters
Daniella Peters is a 22-year-old twins and poet
from Cross River State.

PharmSavi
Saviour Akpan is from Akwa Ibom State. PharmSavi said he’s super confident and a gentleman with an amazing sense of humour. He doesn’t believe in love at first. He describes himself as a pharmacist and a low-key entertainer.

Phyna
Phyna is short for Josephina. She’s from Edo State.

Bryann

Brian, a budding music producer, is from Imo State.

Christy O

Christy is from Ondo State.

The premiere night also featured electrifying performances from Asake and Victony, who thrilled the live audience and fans.

This year’s winner will be walking home with a N100m grand prize— a cash prize of N50m and N50m worth of prizes from the sponsors. In addition, 30 fans of the show will win N1m each in the ‘Fave Lock-In’ promo exclusive to DStv and GOtv customers.

The show will retain its voting style from last year, as it (voting) will only be on the Big Brother Naija website, mobile site, and the MyDStv and MyGOtv apps for active customers.

 

Bankrupcy eminent as Nigeria’s debt repayment exceeds revenue

0

Nigeria’s fiscal position has nose dived in the first four months of this year as the cost of repaying debt surpassed the government’s revenue in the first quarter of 2022.

According to details of the 2022 fiscal performance report for January through April, Nigeria’s total revenue stood at N1.63 trillion while debt servicing stood at N1.94 trillion, showing a variance of over N300 billion.

Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmed, on Thursday warned that urgent action is needed to address the nation’s revenue challenge and expenditure efficiency at both the national and sub-national levels.

The report showed that gross oil and gas federation revenue for the first four months of the year was projected at N3.12 trillion but as at April 30, only N1.23 trillion was realised, representing a mere 39% performance.

Despite higher oil prices, the report showed that oil revenue underperformed due to significant oil production shortfalls such as shut-ins resulting from pipeline vandalism and crude oil theft as well as high petrol subsidy cost due to higher landing costs of imported products.

However, non-oil taxes trailed targets marginally, with average performance of 92.6%.

“Revenue performance is expected to improve in the second half of 2022 as a result of concerted efforts to address the oil theft and pipeline vandalism, the report said. It added that there is also seasonality to some of the non-oil taxes, which means that the nation expects to collect significantly more in the second half of the year.

“The improved revenue collection should also moderate the Debt Service to Revenue ratio, which is currently above our target level,” the report said.

Overview

In the first quarter of 2020, Nigeria’s debt service as a percentage of revenue rose to 99%, according to the Medium-Term Expenditure Framework and Fiscal Strategy (MTEF/FSP) report released by the Federal Ministry of Finance, Budget, and National Planning.
The data showed that in Q1 2020, Nigeria incurred a total sum of N943.12 billion in debt service while the Nigerian government retained revenue at N950.56 billion. In effect, Nigeria’s debt service to revenue was estimated to be 99% during the period.
On Thursday, the new report showed that the Nigerian government’s share of oil revenues in Q1 2022 was N285.38 billion (representing 39 percent performance), while non-oil tax revenues totalled N632.56 billion, representing 84 percent. In essence, the government generated N401.8 billion from company income tax (CIT) and value-added tax (VAT) as CIT and VAT collections were N298.83 billion and N102.97 billion, respectively, representing 99 percent and 98 percent of their respective targets.
Customs collections (made up of import duties, excise and fees, as well as federation account special levies) trailed target by N76.77 billion (25.42 percent) while the other revenues amounted to N664.64 billion, of which independent revenue was N394.09 billion.

Underlying Factors

The report noted that for Nigeria, “fiscal risks are somewhat elevated”, following weaker-than-expected domestic economic performance and structural issues in the domestic economy. It warned that revenue generation remains the major fiscal constraint of the nation and the systemic resource mobilization problem has been compounded by recent economic recessions.

The underlying factors also include the Russia and Ukraine war, which the report said has assumed a new and worrisome dimension with severe implications on food and energy prices.

It listed the resurgence of COVID -19 in some major economies, which has led to slowdown in economic activities in those countries; as well as renewed elevated inflation in most economies, prompting monetary tightening in these economies with the inherent negative impact on capital inflow to emerging markets economies.

Terrorism: Nigerians knock FG over propose ban on Okada operations

0

Nigerians have chided the Federal Government over the proposed plans to ban Okada operations throughout the country.

Recall that in an effort to stem the spate of insecurity in Nigeria, the federal government through the National Security Council (NSC) had proposed plans to place a ban on the operations of motorcycles, popularly known as Okada in Nigeria.

The NSC further announced that it is also considering a nationwide ban on mining activities in the country as part of the strategy to curb terrorism activities, checkmate loopholes and cut off their sources of funding.

In what many see as an ill-timed and cavalier proposition especially during this torrid economic dispensation, Nigerians on social media knocked the federal government over the proposition.

“Meaning that this group of our today’s rulers has lost every sense of humanity. Instead of tackling the jihadists that your created to conquer Nigeria with blood of the innocents being wasted daily at your watch, you want to throw every Nigerian family into penury.

Heartless individuals,” a Facebook by the name Eugene Uchnendu angrily reacted.
Another Facebook user by the name Franklin Ezenwa NNE believed the proposition could deteriorate the already volatile security architecture, saying that “I see a more scary insecurity challenge loading if this is implemented. The government should have a rethink.  What job opportunities or enabling environments that will foster businesses of the common, have they created.”

On his part, questions were raised over the constitutional rights of the Federal Government to unilaterally place a ban on means of transportation by Mr Moses Abudu, asking whether “When did transportation become an item on the federal exclusive list in our constitution? This government should leave states to regulate their transport system.”

Solomon Long Giwa said on his Facebook account, “You closed borders, the ones in the north were still effective- free flow of ammunition, things got worse. What is the gain of closing the borders? Jobs are not created, the little foreign ones are disappearing.Not everyone in the borders were involved in illegal activities.

“Banning okadas again will solve or reduce what? Large numbers are earning from okada business. FG should know the more people are out of business doing nothing the more we are doomed security wise. Most people that still earn legally one way or the other will not engage in armed robbery or kidnapping. These ills can be reduced to the nearest level. This fight can also be won this way.”

Recall that the proposition was the outcome of the meeting presided over by President Muhammadu Buhari at the State House in Abuja.

Addressing state house correspondents after the meeting chaired by the President, the Attorney General of the Federation and Minister of Justice, Abubakar Malami stated that investigations are still ongoing especially to establish the correlation between mining and motorcycles which they suspect provide funding for the supply of arms to the terrorists.

Malami who noted that terrorists had moved from the conventional ways of funding their activities to mining and ransom taking, disclosed the government was not unaware of the economic consequences of the proposed resolutions, particularly the motorcycle ban but it has become imperative in order to guarantee the nation’s security.

Meanwhile, the Minister of Interior, Aregbesola, speaking on the attack on Kuje prisons  detailed that despite the extensive intelligence gathered before the onslaught, the attacks succeeded due to “there was no will to act.”

He also revealed that President Buhari had received a report on the preliminary investigation of the Kuje attack and officers who have been found to renege on their responsibilities would be punished.

Terrorist groups, in particular in Nigeria, are increasingly interested in controlling areas of production of gold.

The opportunistic nature of these activities ties strongly to the fact that gold is often the favoured mineral of the terrorist groups as many of these groups use this to secure a source of funding for future operations.

Mane wins second CAF best player of the year award

0

..As Oshoala wins CAF best female player of the year

Bayern Munich forward Sadio Mane has been crowned African Footballer of the Year for the second time.

The Senegal international, 30, received the prestigious honour at an awards ceremony on Thursday. Mane, who joined Bayern earlier this summer, won the award ahead of former Liverpool teammate Mohamed Salah and Chelsea goalkeeper Edouard Mendy.

Mane scored 23 goals for Liverpool last season to help them win the FA Cup and EFL Cup. The Reds also reached the Champions League final – losing 1-0 to Real Madrid – and finished just a point behind champions Manchester City in the Premier League title race.

This is as Super Falcon striker, Asisat Oshoala, has been crowned 2022 CAF women’s ‘Player of the Year.’

The 27-year-old was announced the winner of the gong in the gala held in Rabat, Morrocco, on Thursday.

With this win, Oshoala becomes the first player in history to win five African Player of the Year awards.

 

Jojobet Girişdeneme bonusuDeneme Bonusu Veren SitelerGrandpashabetgrandpashabetMariobetcasibom güncel girişgrandpashabetjojobet mobil girişcasibomgrandpashabet girişJojobet GirişJojobetgrandpashabet girişgrandpashabetcasibomgrandpashabetgrandpashabet girişgrandpashabet girisholiganbet