Business, Lifestyle

Fuel Scarcity: Petrol ex-depot price rises to N178 per litre

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There are now different fuel prices in the country just after fuel queues resurfaced in some states.

The Nation reported that Premium Motor Spirit (PMS), otherwise known as fuel, sold for between N198 and N200 in Lagos, Ogun, and Oyo states against the official pump price of N165 at stations operated by major dealers and N175/180 by independent marketers.

The Independent Petroleum Marketers Association of Nigeria (IPMAN), Western Zone, blamed the development on the lack of fuel at Nigerian National Petroleum Company Limited (NNPCL) depots.

It added that private depots hiked prices to N178 per litre as against N145. According to the association, it is practically impossible for its members to continue to sell at N175/180 per litre. Chairman of IPMAN Western zone, Dele Tajudeen, said yesterday.

“None of the NNPCL depots has petrol. Private depots took advantage of the situation to hike the price. The only option for our members is to opt for private depots to keep our business moving.

“We are totally against the increase because it will affect our profit margins and the masses.

“Some private depots who have the product, deliberately, refused to sell for reasons best known to them.

“Our members have no other option than to sell between N195 and N200 per litre within Lagos, Ogun, and Oyo states. We will sell between N200 and N210 in Kwara, Ondo, Osun, and Ekiti states.

“Most of the tank farm owners have justified the increase because of different charges, among which are vessel charges paid in dollars. We are equally calling on the management of the NNPCL and NMDPRA to investigate the arbitrary increase in fuel price by the private depot owners.”

An official of the Depot and Petroleum Marketers Association of Nigeria (DAPMAN), who preferred to be anonymous, blamed the scarcity on a shortfall in product allocation from the NNPCL.

Also speaking to the publication, a station manager of an NNPCL filling station said;

“For five days now, I have been parading the depot to lift fuel but to no avail. Besides, prices have been increased at private depots because since my station is under NNPCL, we cannot increase pump prices without a directive.

I can’t also go to any private depot to buy because I won’t be able to sell at the regulated price by NNPCL.”.

Business

There is no reason why the Nigerian Government should still be in the oil and gas sector- El-Rufai

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Governor Nasir El-Rufai of Kaduna State has said there’s no reason why the federal Government should still be in the oil and gas sector.

Channels Television reported that, in his speech at the seventh edition of KadInvest, an annual event organised by the Kaduna State Investment Promotion Agency, the Kaduna state Governor noted that some sectors doing well in the country like entertainment, telecoms, fintech and others have no government involvement.

According to the Kaduna state Governor, whatever the government manages turns out bad. El-Rufai who fruther averred that the commercialization of the Nigerian National Petroleum Company in July 2022 has changed nothing, also said that the NNPC is Nigeria’s biggest problem and should be privatized.

The Governor pointed out that Nigerian Telecommunications Limited achieved nothing until the private sector came in and revolutionalized the telecoms business.

He reportedly also called for the privatization of the power sector so the country can overcome the hydra-headed and decades-long challenges of the sector.

He said;

“I am giving this example so that when I say government should get out of oil and gas, people should not think it is crazy; it is not.

There is no reason why the Nigerian Government should still be in the oil and gas sector. It should just get out, it has failed. By every measure it has failed.

“This year, NNPC has not brought N20,000 to the federation account. We are living on taxes. It is PPTs, royalties, income tax and VAT that is keeping this country going because NNPC claims that subsidy has taken all the oil revenues. I don’t believe it.

“So, the government should sell everything in oil and gas sector…The government should get out of everything that is left of electricity, leave it to the private sector, create the environment, the money will come. We did it in the telecoms sector.

“Nothing has changed, it’s just a change in name with limited at the end.“Nothing has changed, they are still taking our money, declaring profit that we don’t see the dividends.”

Business

Seven Nigerian companies debarred by World Bank for corruption

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The World Bank has debarred five Nigerian firms and individuals for engaging in corrupt practices and also recognized the debarment of two Nigerian companies debarred by the African Development Bank (AfDB).

The companies and individuals who will no longer participate in projects and operations financed by institutions of the World Bank Group, were listed in the international financial agency’s recent report titled ‘Sanctions System Annual Report for Fiscal Year 2022’ which was prepared by the offices of the World Bank Group’s (WBG) sanctions system, which comprises the integrity vice-presidency (INT), the office of suspension and debarment (OSD), and the sanctions board and its secretariat.

Salihu Tijani was debarred for three years and two months while Isah Kantigi was debarred for five years.

Amin Moussalli was debarred for two years and 10 months alongside a conditional non-debarment for one year and six months (Conditional non-debarment means that a firm or individual remains eligible to participate in World Bank-financed projects as long as the firm/individual complies with certain sanction conditions).

The World Bank debarred two firms; AIM Consultants Limited for two years and 10 months, and SoftTech IT Solutions and Services Ltd. for four years and two months.

The two firms blacklisted by AfDB but recognised by the World Bank were Sargittarius Nigeria Limited, and Sargittarius Henan Water Conservancy Engineering Ltd. for a period of two years and six months each.

David Malpass, World Bank Group president, who spoke on the sanctions said;

“Among them, it diverts scarce resources from achieving the projects’ objectives, robbing the benefits of development from the people who need them most; it increases costs for the most vulnerable while reducing their access to services—including health, education, and justice; and it undermines the public’s trust in institutions, thereby weakening governance and rule of law and increasing fragility,” Malpass explained.

“At a moment when every available resource must be deployed for maximum impact, these ill effects of corruption can be especially damaging.

“For this reason, it is important to recognise the role of the Bank Group’s sanction system, which plays a significant part in our institution’s efforts to maintain oversight and accountability for the financing we provide.”

Business, Lifestyle

EFCC re-arraigns father and son for alleged N5.6bn fraud in Lagos

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The Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) has re-arraigned one Emmanuel Adewunmi Jayeoba alongside his son, Adewale Daniel Jayeoba, before Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos.

EFCC’s spokesperson, Wilson Uwujaren, whp disclosed this in a statement on Wednesday, October 12, said the defendants were re-arraigned on a 14-count amended information bordering on money laundering to the tune of N5, 697, 029, 685 ( Five Billion, Six Hundred and Ninety –seven Million, Twenty-Nine Thousand, Six Hundred and Eighty- Five Naira) One of the counts reads:

“ That you, Adewale Daniel Jayeoba and Emmanuel Adewunmi Jayeoba, between 2019 and 2020, in Lagos, within the jurisdiction of this Honorable Court, conspired amongst yourselves to use the aggregate sum of N5.697,029,685 (Five Billion, Six Hundred and Ninety seven Million, Twenty nine Thousand, Six Hundred and Eighty five Naira), which sum you reasonably ought to have known forms part of your unlawful activity to wit: carrying on banking business without valid license and you thereby committed an offence contrary to Section 18 (a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) of the same Act.”

They pleaded “not guilty “to the offence. In view of their pleas, the prosecution counsel, Chinenye Okezie, asked the court for a trial date and also prayed that the defendants be remanded in prison custody.

In response, counsel to the defendants, I.A. Raji, informed the court that the defendants had previously been granted bail by Justice Nicholas Oweibo. He, however, told the court that the defendants had not been able to perfect the bail conditions.

The defence counsel, therefore, prayed the court for a short date for the hearing of the bail variation.

Justice Aneke adjourned the matter to October 17, 2022 and December 6, 2022 for hearing of the bail application and trial respectively.

The Judge also ordered the defendants to be remanded in prison custody.

Business, Lifestyle

ASUU strike will be called off in days- Femi Falana

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A Senior Advocate of Nigerian (SAN), Femi Falana has expressed optimism that the lingering strike action embarked upon by the Academic Staff Union of Universities (ASUU) will be called off in days and not weeks.

Falana who is the legal counsel of ASUU stated this during an interview with Channels TV on Monday, October 10.

Recall that last week, the Court of Appeal ordered the striking lecturers to return back to their classrooms before their appeal can be heard.

Falana said he will advise his clients accordingly once the certified true copy of the court order has been made available to him.

“The legal advice that I will give to my clients is confidential. But I can assure you that the strike will soon be called off.

Advising clients to call off a strike is the most difficult aspect of my practice. On one occasion, Chief Gani Fawehinmi (SAN) and I spent six hours persuading Comrade Adams Oshiomhole and other NLC (Nigeria Labour Congress) to call off a strike in compliance with a court order.

Our advice to ASUU will be based on the court order and other relevant reports.

I am reasonably confident that the consultations between the House and the Presidency will yield positive results in the interest of the striking lecturers and the students” he said

University lecturers in public universities have been on strike since February 14, 2022, over poor welfare and unpaid earned academic allowances.

After several failed attempts to resolve the issues, the Federal government took ASUU to the National Industrial Court where they secured an injunction ordering the striking lecturers back to work.

ASUU approached the court of appeal Abuja but their appeal was thrown out last week Friday, October 7.

Business, Entertainment, Football, Lifestyle

Guinness Celebrates Tobi Amusan, Ese Brume and Extraordinary Women in Sports

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The excitement of the athletics season is officially over, however, celebrations are still in full swing as Tobi Amusan, Ese Brume and other extraordinary female Athletes and Para-Athletes who represented Nigeria at 2022 Commonwealth Games and World Athletics Championship enjoyed a grand reception by Guinness Nigeria.

The celebratory gala on Thursday, September 22nd at the new Guinness Headquarters in Ikeja, Lagos had in attendance sport icons, entertainment elites, socialites and sports reporters alike.

Guests relished a true Guinness VIP experience with loads of exciting activities, Event was anchored by Bolanle and DJ anonymous was also in attendance and thrilled guest with scintillating sounds.

The highlight of the event was an incredible toast to the extraordinary talents at 17:59 Guinness time, closely followed by the reward presentation of N2,000,000 to the 100 metres hurdles Guinness world record Tobi Amusan, N1,000,000 to all gold medalists, N750,000 to all silver medalists and N500,000 to all bronze medalists for their astonishing sporting achievements.

With this befitting appreciation of the reigning African, Commonwealth and World Champion, Tobi Amusan and other extraordinary female Athletes, Guinness reaffirms its commitment to empowering creative talents, driving inclusivity, celebrating excellence, and creating moments in culture through the ongoing Black Shines Brightest campaign.

Since the launch of Black Shines Brightest, Guinness Nigeria has remained committed to spotlighting and celebrating exceptional black beacons across several cultural touch-points including art, music and sports.

Business, Lifestyle

Fintechs are disrupting banking sector operations – CBN Governor, Godwin Emefiele

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Governor Godwin Emefiele has said that financial technology (fintech) companies are disrupting operations of the banking sector.

Emefiele disclosed this at the International Association of Deposit Insurers (IADI) Africa Regional Committee (ARC) technical assistance workshop in Abuja on Tuesday October 4.

The CBN governor who stated that there is urgent need for the banking industry regulators to gird their loins, described the developments as “very disturbing”, adding that it has continued to disrupt traditional ways of offering financial services in the banking landscape.

Emefiele also said that Fintechs who want to be deposit-taking institutions should come forward with N25 billion and become a bank.

He said;

“We will ensure that we can put in place strong regulatory framework and practices that should help nip in the bud, the unfortunate incident that may happen as we try to allow the growth of fintechs in Nigeria.

“Fintechs who want to be deposit-taking institutions should come forward and become a bank, bring N25 billion and be a bank.

“Our deposit insurance system (DIS), as a component of the financial safety-net arrangement, is the risk-minimiser model and has been very effective in the discharge of its mandate.

The CBN and NDIC represent key components of Nigeria’s financial safety-net arrangement.

“That partly explains why we have been able to successfully resolve the series of financial crises that confronted us with satisfying results.

“It is instructive to mention that the CBN and NDIC have been able to deal with the emerging crisis in the nation’s banking system.

The 2009 banking crisis, 2004 banking consolidation exercise and their subsequent resolutions, provided a reference point of the benefit for effective collaboration between the central bank and deposit insurer.”

Business, Politics

Protesting Benue pensioners cries out to the speaker over unpaid pension

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Members of the Association of Concerned Benue Pensioners have cried out to the Speaker of the Benue State House of Assembly and the gubernatorial candidate of the Peoples Democratic Party (PDP) Rt. Hon Titus Uba to come to their rescue as they are losing their wives to Motorcycle riders (Okada) because of inability to take care of them.

The protesters carrying various placards with different inscriptions marched to the assembly complex in Makurdi on Wednesday, September 21, 2022.

The pensioners were first denied access on the ground that the Speaker was not on seat but after refusing to back down, they were allowed to meet with management of the assembly.

Presenting their grievances contained in a letter, they said,

“This is for your information and necessary action. It is no longer news that the Government of Benue State is owning her pensioners 37 and 74 months pension arrears at the State and Local Government Levels respectively. Our backlog of gratuity remains a no go area and is totally forgotten,”

“As a result of non-payment of pension and gratuity, pensioners are dying on a daily bases as most of them are on special diet and drugs but could not afford even a maintenance ration or drugs.

“This has caused untold hardship to pensioners, including the inability to afford decent food, Housing, payment of hospital bills as well as inability to pay children’s school fees leading to their being sent out of school by the school authorities, thereby frustrating their future.

“The concerned Benue State Pensioners have become scavengers, Refugees destitute and beggars on our fatherland that we served with zeal and meritocracies, if we do not beg, we will not eat.

“Because of hardship occasioned by non-payment of Pension and gratuity, we have lost our wives to Okada Boys, ‘because we are no longer economically viable to carter for them.

Life has become miserable, meaningless and unbearable.” they added.

Business, Lifestyle, Politics

Nigerian students reject court judgement mandating ASUU to call off its 7 month strike

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The National Association of Nigerian Students (NANS) has kicked against a court judgment that mandated the Academic Staff Union of Universities to call off its 7-month strike.

National Industrial Court of Nigeria today, September 21, ordered ASUU to call off its ongoing nationwide strike.

Reacting in a statement, NANS National Public Relations Officer, Giwa Temitope, referred to the ruling as a “black market judgment.”

Temitope said the ruling betrayed equity because the Federal Government ought not to drag the academic union before the court in the first place. The statement reads:

“Our attention has been drawn to news of a court judgment mandating the Academic Staff Union of Universities (ASUU) to call off its 7 month strike.

As an association, we feel disturbed to read the news of the judgment because we believe that it betrays equity.

“Ordinarily, the Federal Government is not meant to have dragged ASUU to court. But, the fact that they had to drag ASUU to court is a signal that this government cannot handle crisis.

And, we want to state categorically that the court cannot force members of ASUU back to lecture theatres. “And, as it stands today, with that court judgment, we maintain that the court has not resolved the problem and we reject the judgment in strong terms.

The court could have said that the Federal Government should go and pay rather than say that lecturers who are on strike should go back to classrooms.

We were expecting the court to have understood that lecturers are on contract of personal service hence, they cannot be compelled to render a service they don’t want to render.

“The only remedy to this strike action is for the Federal Government to accede to the demands of ASUU which the government willingly entered into with them and properly fund education.”

Business, Lifestyle, Politics

Yusuf Buhari’s wife, Zahra bags first class in Architectural Science

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Present Buhari’s son, Yusuf Buhari’s wife, Zahra Bayero, has graduated with first class honors in Architectural Science in a UK University.

Her mother-in-law, Aisha Buhari disclosed this via her social media accounts on Tuesday, September 20, 2022.

“Congratulations to Mrs. Zahra B Buhari on your graduation with First Class Honors in Architectural Science. Wishing you all the best,” the First Lady wrote.

Business, Lifestyle

Students block Airport Road in Lagos to protest ongoing ASUU strike

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The National Association of Nigerian Students (NANS) have blocked the road leading to the Murtala Muhammed Airport in Lagos State to protest the lingering strike by the Academic Staff Union of Universities (ASUU).

The students, protesting the seven-month strike, blocked a section of the access road to the International airport on Monday morning, September 19.

This caused gridlock as vehicular movement in and out of the airport was stalled.

There was heavy police presence at the scene but this did not deter the protesting students.

The students had last week blocked the Lagos-Ibadan Expressway and the Ibadan-Ife Road.

Watch the video of today’s protest below.

Business, Lifestyle

Pastor trends online after charging members $1499 to teach them how to pray

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An American Pastor, Dr Juanita Bynum is trending online for charging her members $1499 to teach them how to pray.

The Pastor’s price list for the 4-week session which includes a certificate was passed on in a flyer she shared on her social media page.

Bynum wrote; “The Prayer Institute, a four week 7 Session, in-person 2 hour intensive. Register Now!“Location: Atlanta, GA Seating is Limited!”

Business, Lifestyle

Aviation workers embark on nationwide protest

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Aviation workers are currently protesting across the country over an alleged ‘obnoxious’ legislation.

Ben Nnabue, President of the National Union of Air Transport Employees (NUATE) told newsmen that the protest is simultaneously taking place in all the airports in the federation.

Nnabue who revealed that they are demanding the removal of a clause in an act establishing aviation agencies that seeks to prevent trade unions from protesting, gave the federal government a 14-day ultimatum for them to look into their demands, or see them embark on a full-blown strike that might possibly shutdown airport activities.

He said;

“Sometime last year, we went to the national assembly to amend the act establishing the agencies, so that it would be more progressive.

There was one obnoxious clause that talked about trade unions not going on strike. “We were shocked that before they sent it to the president for assent, those clauses were maliciously inserted. So we have to fight for them to remove it.

That’s the whole idea.“It is a peaceful demonstration. It is after now and they didn’t hear us or didn’t look at our demands, then we get to the level of grounding the operations of airports,” he said.

“We have given government 14-days ultimatum to look at our demands, after which we now do what is called strike.”

Ni

Business, Lifestyle

New UNILORIN Vice Chancellor promises fairness

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The Vice Chancellor-designate of the University of Ilorin, Prof Wahab Egbewole (SAN), has promised that his administration will be fair to all.

A press statement released on Sunday by the university’s Director of Corporate Affairs, Mr Kunle Akogun, quoted Egbewole as saying

“the University of Ilorin is greater than all of us and we want to extend our hands of fellowship to all our colleagues who also applied for this post and appeal that they should join hands with us to do this work collectively and in an all-inclusive manner.”

He sought the support of all stakeholders “in the discharge of the onerous tasks ahead.”

Alumni advise VC

Meanwhile, the University of Ilorin Alumni Association on Sunday advised Egbewole to take the university to a greater height than where it was.

The association, through its Chairman and Coordinator, Prof Jeleel Ojuade, said the university had created a niche for itself in the comity of tertiary institutions in Africa, adding that Egbewole could not have come at a more auspicious time to lift it beyond what it was.

The alumni association said Egbewole’s “appointment did not come to us as a surprise judging by your profound scholarly erudition and immense administrative experience.”

It added that it would “like to put it on record that your previous strings of successes in your earlier assignments within and outside the university, especially your immediate professional community, the Nigerian Bar Association, are a testament as well as an indicator of a successful outing even in this new role.”

The alumni body said the onerous task before him is to take the institution from where it is today to a new height where it could compete favourably with any other institution anywhere in the world.

Business

Dangote arrests driver over illegal haulage

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Dangote Group on Sunday said its patrol team arrested one of its drivers over illegal haulage of timber.

According to a statement made available to journalists by the firm’s Group Chief Branding and Communications Officer, Mr Anthony Chiejina, the driver and the truck were arrested in the North Central zone and handed over to policemen.The statement added,

“The driver was subsequently charged to a Magistrate Court in Akwanga, Nasarawa State for criminal breach of trust where he pleaded guilty and was sentenced to four months incarceration in a correctional centre.

“While the presiding magistrate ordered that the truck and load be released to the company and owner respectively, he advised the company to file a civil case against the owner of the goods.”

The statement added that in the South-West region, the patrol team noticed a third-party truck with, Dangote logo, parked inside a private company’s yard in Ode Remo, Ogun State while offloading granite stone.

Members of the team were said to have reported the case at Ode Remo Police Station and got both the driver and the truck arrested.

The driver, the statement added, has also been charged to court.The statement added,

“The Dangote drivers’ patrol team has made several more arrests and handed the offending drivers to the police and other relevant authorities for prosecution.

“Dangote Management has therefore renewed the warnings to those who illegally transport materials on Dangote trucks, and asserted that such unauthorised goods shall be confiscated while such drivers and owners would face the full extent of the law.”

The firm solicited the assistance of the public in the fight to rid the organisation of illegal haulage activities.

“We hereby alert the public to report any suspected Dangote Truck driver involved in illegal haulage supported with credible evidence of such act,” the statement added.

Business

Chinese national arrested for suspected illegal mining in Kwara

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The Ilorin Zonal Command of the Economic And Financial Crimes Commission, EFCC, has arrested a 29-year old Chinese: Gang Deng, for suspected illegal mining in Ilorin, Kwara State.

Deng was arrested on Friday, September 9, 2022 and found to be in possession of crude minerals without authority.

The EFCC in a statement on Saturday, said a truck load of minerals suspected to be lepidolite was recovered from him.

The suspect will be charged to court as soon as investigations are concluded, the statement added.

Business, Lifestyle

University of Nigeria, Nsukka should be renamed after Queen Elizabeth to immortalise her – Adamu Garba

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Former Presidential aspirant of the All Progressives Congress, Adamu Garba has said that the University of Nigeria, Nsukka should be renamed after Queen Elizabeth to immortalise her.

After his claim of UNN being the first university was debunked, he attached a rejoinder claiming that UNN was the first university under sovereign Nigeria.

Garba also said those that attended the school should start planning to redo their CVs.

He tweeted;

In order to immortalized Queen Elizabeth, we should rename the University of Nigeria, Nsukka to Queen Elizabeth University of Nigeria since it is the first University in Nigeria.

Immortalizing Queen Elizabeth by renaming the University of Nigeria, Nsukka in her honor would’ve been an easier deal if I were communicating with our grandparents.

Fortunately, they knew her worth. Age is a grace, & 7 decades on the Throne can only be the work of God and Grace. University of Ibadan was there before Nigeria became sovereign.

University of Nigeria, Nsukka is the first University under the sovereign Nigeria.hose of you that went to UNN, Nsukka, get ready to redo your CVs.

Hopefully, your former school will be renamed to Queen Elizabeth University of Nigeria. I congratulate you on this remarkable progress.

Business

ASUU: FG announces 23.5% salary increment for lecturers

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The Minister of Education, Adamu Adamu, on Tuesday said the government could only afford 23.5 percent salary increase for lecturers, while a 35% increment will be enjoyed by professors.

The minister also noted that the President, Major General Muhammadu Buhari (retd.) warned against signing agreements which the government will not be able to meet.

Adamu disclosed this while speaking during the meeting with vice-chancellors and other stakeholders in the university system.He said,

”The Federal Government can only afford a 23.5% salary increase for all category of the workforce in Federal Universities, except for the professorial cadre which will enjoy a 35% upward review.

“Henceforth, allowances that pertain to ad-hoc duties of the academic and non-academic staff shall be paid as at when due by the Governing Councils of Universities to which such services are rendered and to the staff who performthem.

“That a sum of 150 billion Naira shall be provided for in the 2023 Budget as funds for the revitalization of Federal Universities, to be disbursed to the Institutions in the First Quarter of the year, and that a sum of 50 billion Naira shall be provided for in the 2023 Budget for the payment of outstanding areas of earned academic allowances, to be paidin the First Quarter of the year”.

Speaking at the end of the meeting, the pro-chancellor of the National Open University of Nigeria, Professor Peter Okebukola, noted that the government was ready to go all out to ensure that the university lecturers return back to school.

Business

Opinions differ as Twitter user advises people not to return to work after resigning even if their employers offer them a pay raise

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A debate is currently holding on Twitter after a user shared some interesting advice to employees.

In his Tweet, @charles_dairo wrote;

”If you tell your boss you’re resigning and they respond by offering you higher pay or a promotion, don’t take it. Just move on.If they knew you deserved a higher pay and could afford it, they shouldn’t have waited till you decided to leave.

2. They may not be able to afford to pay you more, so the offer may not be sustainable.

3. They may not like that you “won” and start treating you differently.

4. They may be trying to buy time so they can fire you when it’s convenient.”

While some Twitter users agreed with him, others wondered why they will turn down a pay rise.

According to them, they are working to make money and not just for the boss.

See the mixed reactions below…

Business

LASU Matriculates 6,377 For 2021/2022 Session

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The Lagos State University on Monday matriculated 6,377 students into various Facilities and Schools in the University for the 2021/2022 academic session.

The Vice Chancellor, Prof. Ibiyemi Olatunji Bello, during her address at the ceremony, assured the students that they are in for a worthwhile academic experience.

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