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Nigerian Government Spends N1.3trillion On Debt Servicing After Realising N1.7trillion Revenue In 2024 First Quarter

5 months ago833 min

This development comes as the government continues to battle with high costs in relation to debt servicing to revenue ratio.   A review of quarterly statistical bulletin released by the Central Bank of Nigeria has shown that the federal government spent N700 of every N1000 it made on debt servicing in the first quarter of the 2024 fiscal year (first three months of the year). In Q1 2024, the Nigerian government had a retained revenue...

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Nigerian Army applicant hacked to death by colleagues over money
Metro

Nigerian Army applicant hacked to death by colleagues over money

5 months ago973 min

A gruesome incident has occurred in Zaria, Kaduna State, where some applicants vying for a spot in the Nigerian Army Depot allegedly hacked a fellow applicant to death. PUNCH Metro learnt on Sunday that the victim, who hailed from Gombe State, had reportedly received nearly N1m from his parents to facilitate his recruitment. Suspicions arose when the deceased shared his Automated Teller Machine card and password with a friend to withdraw N10,000 for food. It...

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by Probitas
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Nigerian Police Arrest Serial Killer ‘Itaapa’ Who Named Osun Politician As Godfather, Said He Got 30 Rifles During 2023 Polls

5 months ago1047 min

  The Nigeria Police Force, Osun State Command has arrested a 32-year-old notorious cultist and alleged serial killer, Bode Owoeye, also known as Bode Itaapa, for conspiracy, armed robbery, unlawful possession of prohibited firearms and murder.   The suspect alleged that his group were political thugs working for a certain Honourable Sanya Omirin, who typically gave them instructions through another wanted cultist named Adefioye Solomon.   Owoeye was arrested alongside Mukaila Lateef, 45, and David...

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by Probitas
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BREAKING: Nigerian High Court Dismisses Suit Challenging Arabic Inscriptions On Naira Notes

5 months ago865 min

Justice Yellim Bogoro of the Federal High Court in Ikoyi, Lagos, on Tuesday, dismissed a case brought by Chief Malcolm Emokiniovo Omirhobo challenging the inclusion of Arabic inscriptions on Nigerian currency – naira.     Citing the precedent set in Chief Gani Fawehinmi vs. Akilu (1998) 2NWLR (Part 102), 122 at 169, Justice Bogoro ruled that while Omirhobo has the standing to bring the action, he failed to provide sufficient evidence that the Central Bank of...

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by Probitas
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Transparency Issues Persist As Nigerian Oil Company NNPCL Fails To Release 2023 Financial Statements 7 Months Into 2024

5 months ago924 min

The Nigerian National Petroleum Company Limited (NNPCL) has not published its financial records for 2023, as the year 2024 draws to a close.  This lack of transparency has sparked concerns about the company’s operations, especially since it became a limited company.  The NNPCL only released its 2022 financial statements in January 2024 after facing significant pressure. The Petroleum Industry Act mandates that the NNPCL, as a limited company, must undergo financial audits annually, in line...

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by Probitas
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BREAKING: Nigerian Army Retired Colonel Found Dead In Base-Camp Hotel In Plateau

5 months ago924 min

The retired officer died after checking into the hotel died on July 16, 2024         BT Vandi, a retired colonel of Nigerian Army has been found dead in a hotel inside the Nigerian Defence Academy base-camp in Buruku, Plateau State.     The retired officer died after checking into the hotel died on July 16, 2024.    He was reportedly found dead by an attendant around 3:20pm.    According to a military signal...

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by Probitas
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Bill For 6-Year Single Term Presidency, Governorship Passes First Reading In Nigerian House of Reps

5 months ago915 min

On Wednesday, the House of Representatives passed the first reading of a bill proposing amendments to the 1999 Constitution to introduce a single six-year term for the offices of the President, state governors, and Local Government Areas chairmen.   Sponsored by Ikenga Ugochinyere, representing Ideato North/Ideato South Federal Constituency, Imo State, along with 50 other lawmakers, the bill aims to reduce election costs by extending the tenure of these offices.   The proposed amendments target...

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Dangote Refinery Products Inferior To Imported Ones; Nigeria Can’t Rely On Them Alone To Avoid Monopoly – Nigerian Agency, NMDPRA

5 months ago823 min

He addressed concerns about the nationwide supply of petroleum products and denied claims by some media outlets that they were trying to scuttle the Dangote Refinery. Farouk Ahmed, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has cautioned Nigerians against over-dependence on products from the Dangote refinery.   Ahmed highlighted concerns over the consistency and standardisation of the refinery’s output, stating that the quality of its products was inferior compared...

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Dangote Wants Us To Stop Importation Of Fuel, Direct All Marketers To His Refinery –Nigerian Agency, NMDPRA

5 months ago1033 min

Mr Farouk who said this in a video issued by the State House media on Thursday, claimed that Dangote made the request to ensure that all oil marketers in the country would patronise only his refinery for fuel.   The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed has said billionaire businessman Aliko Dangote requested for total suspension of fuel importation into the country.    Mr Farouk who said...

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by Probitas
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BREAKING: Nigerian High Court Strikes Out Two Cybercrime Charges Against Social Media Influencer, Ijele; Nullifies Stringent Bail Conditions

5 months ago959 min

  A Federal High Court in Lagos has struck out two of the three counts of cybercrime charges brought against social media blogger,Mr. Chizorom Harrison Ofoegbu, popularly known as Ijele. In a ruling delivered on Friday, the court also nullified the initial stringent bail conditions that had kept Ijele in prison. Legal luminary, Mr. Femi Falana (SAN), had filed a preliminary objection challenging the validity of his trial for alleged cybercrime offences. The charges were...

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