A Kano State High Court has ordered the Kano State Government to pay a fine of N8.5 billion in damages to Lamash Properties Limited over the demolition of its buildings by Governor Abba Kabir Yusuf. The court also gave an order for the defendants, consisting of the Kano State Government, Governor Abba Kabir and the…
A Federal Capital Territory (FCT) high court in Maitama has granted bail to Yahaya Bello, former Kogi state governor, in the sum of N500 million. Bello has been charged with alleged criminal breach of trust to the tune of N110,446,470,089, contrary to sections 96 and 311 of the Penal Code Law Cap.89, Laws of Northern…
The Federal Government has announced the removal and implementation of zero import duty and Value Added Tax (VAT) on all machinery, equipment and spare parts imported for gas utilisation in the country. The exemption also includes equipment for Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG). Other items under the zero-rated VAT include feed…
Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product to N899.50k per litre. This was announced in a statement, on Thursday morning. The company said the decision was taken to “provide much-needed relief for Nigerians ahead of the holiday season”. “Africa’s first privately-owned oil refinery, which previously lowered the price…
……Envisions a Promising Future for the SectorBarbara Bako, Abuja. The National Insurance Commission (NAICOM) has warmly accepted the passage of the new Insurance Consolidated Bill by the Upper Chamber of the National Assembly and is optimistic that the legislation will unlock the growth, prosperity, and potentials of the insurance industry. The Commission in a statement…
Education, Infrastructure, Health, Security, and Defense received significant allocations in the N47.9tn budget proposal presented by President Bola Tinubu to the National Assembly on Wednesday. The President listed some of the highlights of the budget as defence and security – N4.91tn, infrastructure – N4.06tn, health – N2.4tn, education – N3.5tn, among others. He stressed that…
One of the protesters, Dahiru Hamza from Tudun Wada, Kaduna State, explained that their release was facilitated by the decision of the new DSS Director General. “Honestly, I was not happy with the person who sponsored us, Khalid, because he convinced us that he had police authorization for the protest. We later ended up in…
Barbara Bako, Abuja. Jaiz Bank successfully listed N10.04 billion from its private placement on the Nigerian Exchange Group (NGX) after receiving regulatory approvals from the Securities and Exchange Commission (SEC), the Central Bank of Nigeria (CBN), and NGX. According to a statement released by the Bank on Tuesday, this achievement puts Jaiz Bank among the…
The Senate on Tuesday has approved a bill to increase the minimum capital requirement for insurance companies in Nigeria from ₦2 billion to ₦10 billion, marking a 400% rise. In the capital requirement enshrined in the bill, a person shall not carry on an insurance business in Nigeria unless the insurer has and maintains, while…
The Kano/Jigawa command of the Nigeria Customs Service(NCS), has seized 2,179 kilograms of pangolin scales in a joint enforcement operation with the Wildlife Justice Commission (WJC). A statement by the command’s Public Relations Officer, SC Saidu Nuruddeen, said one suspect had been arrested in Mubi,Adamawa,in connection with the matter. Nuruddeen said the command was supported…
