The National Drug Law Enforcement Agency (NDLEA) has successfully apprehended Alhaji Sulaiman Jimoh, commonly known as Temo, a notorious drug kingpin in Lagos. Temo, who had evaded capture for the past two years, was detained following a significant operation that culminated in his arrest at his stronghold. The NDLEA in a statement signed by Femi Babafemi-Director, Media & Advocacy NDLEA Headquarters, Abuja, gave details oF the operation, revealing that the 57-year-old Temo was captured after an initial confrontation with his entourage. Despite resistance, the operation concluded without casualties. NDLEA Chairman and Chief Executive Officer, Brig. Gen. Mohamed Buba Marwa…
Author: Temitope N.
The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has vowed to ensure the conviction and imprisonment of any serving local government chairmen or councillors tampering with the Federation Accounts Allocation Committee (FAAC) allocations to the LGs. He disclosed this on Thursday at the 17th-anniversary annual lecture event of the Human Rights Writers Association of Nigeria (HURIWA) in Abuja, attended by Nairametrics. His latest reaction comes a few days after he instituted an LG autonomy suit at the Supreme Court and defeated the state governors’ legal team who unanimously opposed it at the apex court. …
Germany is considering lowering taxes for foreign skilled workers who decide to take up jobs in the country. These tax rebates will range between 30%, 20%, and 10%. This comes as an effort to attract more foreign qualified professionals to the country under its “growth initiative” effort by the German government to partially exempt newly arrived foreign qualified workers from taxes for their first three years of employment. According to authorities, this tax relief is essential as Germany faces shortages in various sectors. What the Minister said The Federal Minister of Finance, Christian Lindner noted that the rebate will only apply during…
The Human Rights Writers Association of Nigeria (HURIWA) has stated that the construction of the multi-billion naira official residence of the Vice President of the Federal Republic of Nigeria is an error in judgment by the executive and legislative arms of government. The head of HURIWA, Comrade Emmanuel Onwubiko, disclosed this on Thursday at the 17th-anniversary annual lecture event of the association in Abuja, attended by Nairametrics. The event, which drew government officials, legislators, and academia, was themed: “ANY NEXUS BETWEEN POLITICAL LEADERSHIP & HUMAN RIGHTS?” VP Residence amid widespread poverty Onwubiko emphasized that political officeholders must appreciate the constitutional demand…
A former Lagos Commissioner, Mr. Tunji Bello, on Thursday, assumed office as the Chief Executive Officer/Executive Vice-Chairman of the Federal Competition and Consumer Protection Commission (FCCPC). Bello’s assumption comes a month after President Bola Tinubu appointed him and follows the Senate’s confirmation of the appointment on Tuesday. He takes over from Adamu Abdullahi, who has been leading the Commission in an acting capacity since the removal of the former helmsman, Babatunde Irukera in January. “Mr. Tunji Bello officially assumed his role as the Executive Vice Chairman/ Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC) today. “Mr.…
Universal Music Group, the leading music label backing Don Jazzy’s Mavin Records, has seen its shares drop over 20% amid intense competition in the streaming market. The Netherlands-based Universal Music Group (UMG), representing top artistes such as Taylor Swift, Drake, Justin Bieber, and Adele, experienced this significant decline shortly after the market opened on Thursday. This drop followed the company’s below expectation results in its streaming and subscription businesses. On the earnings call, UMG Vice President and CFO Boyd Muir attributed the year-over-year slowdown in subscription growth to “the timing of price increases” from its partners. UMG’s partners, including Spotify, Amazon Music,…
Nigeria’s President, Bola Tinubu has urged the government of China to explore transferring its technological expertise to address infrastructure needs in Nigeria and Africa at large. Tinubu made this request in Abuja when he received the Vice Minister of Foreign Affairs of the People’s Republic of China, Mr. Chen Xiaodong. This bilateral meeting was disclosed in a statement published on the State House website on Friday, signed by Tinubu’s aide, Ajuri Ngelale. China’s opportunity to impact Nigeria According to the statement, the President commended the partnership between Nigeria and China over the past fifty years, emphasizing that both sides must nourish, nurture,…
The United States has taken a significant step to bolster cybersecurity efforts in Nigeria by establishing a special office at its embassy in Abuja. The announcement was made by the newly appointed United States Ambassador to Nigeria, Mr. Richard Mills Jr., during a meeting with President Bola Tinubu at the Presidential Villa in Abuja. This initiative aims to enhance collaboration with Nigeria’s Economic and Financial Crimes Commission (EFCC) in combating cybercrimes. Ambassador Mills emphasized that the United States is committed to supporting Nigeria in addressing the growing challenges of cybercrime, a partnership seen as crucial for enhancing Nigeria’s cybersecurity framework…
A new report by Afrexim Bank states that the proposed 5% tax on companies earning over N100 million for community development projects will result in the exits of multinationals from the country. The report titled, “Monthly Developments in the African Macroeconomic Environment” noted that the proposal is coming despite opposition from members of the private sector. It states, “Nigeria’s National Assembly is considering a 5% levy on big companies to invest in community projects, despite opposition from companies and their supporters. Critics argue that companies already pay 20-30% of their profits in corporate taxes and the plan could prompt international companies to leave…
In their 2023 annual financial statement, Resilient REIT disclosed the disposal of their stake in Resilient Africa, the joint venture between Resilient REIT (60.94%) and Shoprite Holdings (39.04%) that owns Delta, Asaba, and Owerri Malls. The shopping centres were completed between 2015 and 2016, and have a total gross leasable retail area of 30,015m2. Over a decade ago, Resilient Africa was established to develop quality shopping malls in selected dominant metropolitan areas throughout Nigeria. However, in 2021, Resilient Africa’s board had resolved to sell their stakes in the malls to Shoprite Holdings, due to the country’s bleak retail market outlook. However, the deal fell through.…
President Bola Tinubu has signed into law the North-West Development Commission (Establishment) Bill of 2024, and the South-East Development Commission (Establishment) Bill of 2023. This announcement was made in a statement released on Wednesday by Ajuri Ngelale, Senior Special Adviser to the President on Media and Publicity. According to the statement, these bills are designed to accelerate development across Nigeria’s geo-political zones. “President Bola Tinubu has signed into law bills to accelerate development across geo-political zones in the country. “The President has assented to the North-West Development Commission (Establishment) Bill, 2024, and the South-East Development Commission (Establishment) Bill, 2023,” the statement…
Disney and Pixar’s “Inside Out 2” has outdone itself in animated cinema releases, grossing over $1.46 billion in box office sales since its release last month, establishing itself as the highest-grossing animated film of all time. According to global box office records, the animated movie directed by Kelsey Mann has now surpassed Barbie which grossed $1.4 4 billion. This newly recorded ticket sales follows after, “Inside Out 2” spent six weeks in theatres. This total includes $861 million from international markets and $601 million domestically in the United States. As of the last update by the Nigerian box office in…
The Consul-General of South Africa to Nigeria, Prof. Bobby Moroe, has said Nigerians wishing to visit the country will now get their visas within seven days against the initial six-month period of processing. The envoy made this known to journalists at the July Breakfast Meeting sponsored by South Africa Airways with the theme “Diplomatic Relations Between South Africa and Nigeria-Prospects and Challenges’, held in Lagos recently. According to Moroe, the new fast-tracked arrangement is with a proviso that applicants attach the photocopies of their travel passports to their applications while waiting for a call to bring in the same document…
A supermarket chain brand, FoodCo, has begun a school support programme to assist vulnerable school children in its host communities. A statement made available to TheInfoStideNewsOnline on Saturday noted that the first phase of the program was targeted at Ibadan, the Oyo State capital where the company has its origins. It also noted that beneficiary schools were Methodist Primary School, Bodija and St. James Basic School, Oke Ado, where educational kits including school bags and writing materials were distributed to the pupils. The Head of Innovation, Growth and Transformation, Funmi Aiyepeku, stated that the support drive was in line with…
The Council for the Regulation of Engineering in Nigeria has expressed concern over the incessant building collapse in the country, stating that Nigeria cannot investigate such incidents. The President of COREN, Professor Sadiq Abubakar, made this known during a press briefing in Abuja recently. According to him, building collapse is not peculiar to Nigeria, but the country’s inability to investigate and prosecute those responsible is a major challenge. “We can’t investigate building collapse in Nigeria. We don’t have the expertise, the equipment, and the resources to do so,” he said. Abubakar attributed the frequent building collapse to several factors, including…
The Rotary District 9112 has announced plans to address coastal erosion by planting 10,000 seedlings of coconut in the 2024–2025 Rotary year. The move, according to Rotary District 9112, is aimed at achieving its vision of a safer and cleaner environment by planting 10,000 seedlings of coconut, mango, and other related crops that have economic, health and environmental benefits. Speaking at a recent press briefing to announce the 2024/2025 Rotary tree planting coastal restoration initiative scheduled to be held on July 21, in Lagos, the Chair of the Tree Planting Committee, Rotary District 9112, Rotarian Gboyega Bada, stated that the…
The Federal Government, on Friday, announced that the first National Agricultural Land Development Authority Institute of Agribusiness and Entrepreneurship would begin operations in September this year. It said the institute would be established in the six geopolitical zones of Nigeria, adding that the first Institute of Agribusiness and Entrepreneurship would begin activities in Aba, Abia State, in the next two months. The Executive Secretary of NALDA, Paul Ikonne, who disclosed this to journalists in Abuja, explained that the establishment of the institute was to support the growth and development of agribusiness in Nigeria by transforming agriculture into a modern and…
The Board of Directors of Emerging Markets Telecommunication Services Limited, trading as 9mobile, has refuted reports suggesting that a court ordered the company to pay a N55bn debt to Keystone Bank. In a statement obtained on Saturday, the telecommunications company clarified that it was not a party to any legal suit or court order related to the debt. The legal dispute involves only its minority shareholder, Teleology Nigeria Limited. “Our attention has been drawn to a wave of syndicated media publications dated Friday, July 19, 2024, with the same misleading headline: ‘Court orders 9mobile to pay N55bn debt to Keystone…
Local airlines have attributed the skyrocketing airfares to foreign exchange volatility and the soaring inflation in the country. The Chief Operating Officer of United Nigeria Airlines, Osita Okonkwo, told Sunday PUNCH that the current economic challenges in the country were taking toll on the aviation sector. “It is an economic issue. We have little naira chasing forex, and it is because of the economy that is stagnant and not growing as fast. “Many people are shunning travelling by air. So, there is a limit to which you can increase your fares to be able to reflect your cost. Because if you increase…
The Minister of Works, David Umahi, has clarified the reason behind the Federal Government’s decision to stop funding all ongoing projects at the same time. According to Umahi, the decision was made due to a large disparity between the increase in contract costs or project costs and the available funding. In a briefing with journalists in Abuja recently, the minister, stated, “We have been in this war with our contractors since September 2023. We are aware that the contractors and no stakeholders in this country have not reported to us about the crisis. “Our position has been that it is…