Author: Festus Adeloye

A Federal High Court sitting in Lagos has granted Union Bank Plc. an interim order of Injunction restraining Swift Networks Limited and its agents from accessing funds and assets in all banks pending the determination of a Motion on Notice in an alleged debt recovery suit. According to a certified true copy of the order, it was issued by the court on June 19, 2024, based on the application filed on June 11, 2024, and after hearing Gbenga Akinde Counsel for the Plaintiff/Applicant, Union Bank, moves a motion ex-parte. Union Bank listed Swift Networks and its Managing Director Charles Anudu…

The Lagos Chamber of Commerce and Industry (LCCI), in partnership with the Ministry of Industry, Trade and Investment and the Ministry of Foreign Affairs, is set to host the 2024 LCCI International Business Conference & Expo in Lagos on Tuesday 27th and Wednesday 28th August, 2024. The event with the theme, “Invest Nigeria”, which is to hold at Eko Hotel and Suite, Victoria Island, will herald the introduction of 15 unicorn companies to the Nigerian economy, signing of landmark investment agreements between Nigeria and other countries and establishment of over 1000 new start-ups across Africa. A statement from LCCI said…

Nigeria has recorded a commercial transaction of raw gold sales at the London Bullion Market Association, the Minister of Solid Minerals Development, Dele Alake disclosed on Sunday. He said the sales have delivered a $5m increase in Nigeria’s foreign reserves, 70 plus kilograms of gold refined to the London Bullion Market Good Delivery Standard and successful aggregation of locally mined gold thereby injecting about N6bn into the rural economy. Alake disclosed this while presenting the latest gold bar sourced from artisanal and small gold miners and refined by the Solid Minerals Development Fund to President Bola Tinubu during the weekend.…

About 50 members of the House of Representatives spread across the six geo-political zones of the country under the aegis of the Concerned Federal Lawmakers for Peace and Security in the South-East, have appealed to President Bola Tinubu to invoke Section 174 of the Constitution of Nigeria, 1999 (as amended) and Section 107(1) of the Administration of Criminal Justice Act, 2015 to release the leader of the Indigenous People of Biafra, Nnamdi Kanu, from the custody of the Department of State Services. The lawmakers elected on the platform of different political parties in a letter addressed to Tinubu, dated June…

Vice President, Oil and Gas at Dangote Industries Limited (DIL), Devakumar Edwin, has accused the International Oil Companies (IOCs) in Nigeria of plotting to cripple its operations. Edwin said the IOCs are deliberately frustrating the refinery’s efforts to buy local crude by jerking up the high premium price above the market price, thereby forcing it to import crude from countries as far as the United States, with its attendant high costs. Edwin, who disclosed this at a one-day training programme, for journalists in Lagos also blamed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for granting licenses to marketers…

Filmmaker and actress, Funke Akindele, has expressed concerns about the “baddies” trend on social media, where females showcase their physical appearance and luxurious lifestyles. She emphasised the importance of content creators promoting positive messages beyond mere entertainment. Akindele advised individuals to focus on their brand and produce content that inspires and educates others. She also encouraged viewers to critically evaluate the content they consume, questioning the authenticity of what they see online. Akindele stresses the need for substance beyond physical appearance, urging “baddies” to showcase their intellectual and creative abilities, making a positive impact on their audience. Speaking in an…

President Bola Tinubu has approved N35 billion for the take – off of the student loan scheme. So far, 70, 000 applications have been approved by the Nigerian Education Loan Fund (NELFUND). Another 50, 000 applications are currently being evaluated and would be approved within 30 days. The figures were exclusively obtained by The Nation from sources in NELFUND. According to the Managing Director/Chief Executive Officer, NELFUND, Akintunde Sawyerr, the funds will be disbursed based on the timetable and calendars of the academic session of each institution. He said: “The funds will be disbursed based on the timetable and calendars…

* Says Efforts Ongoing To Arrest, Prosecute Perpetrators The Vice-Chancellor of Western Delta University (WDU), Prof. Augustine Ikelegbe has assured parents and students of the institution of safety following a robbery incident that occurred on Thursday. Some criminal elements gained entrance into the main hostel where they harassed some students and stole mobile phones and power banks. However, no serious injuries were reported. Describing the incident as unprecedented in the history of the university, the VC said adequate measures have been put in place to ensure that the university is now more safer while efforts are being made to ensure…

Chelsea announced on Saturday they had agreed a deal to sign teenage forward Estevao Willian from Palmeiras for a reported initial fee of £29 million ($37 million). Estevao, who has featured for Brazil at youth level, will join compatriots Andrey Santos, Deivid Washington and Angelo Gabriel at Stamford Bridge ahead of the 2025/26 season. “Chelsea Football Club has agreed a deal to sign teenage forward Estevao Willian from Palmeiras, with the Brazilian to officially join Chelsea next summer,” read a statement on the Blues’ website. “The 17-year-old has already built a strong reputation in South America as one of the…

The Abia State Governor, Alex Otti, has said contrary to media reports, he did not sack his immediate past and pioneer Chief Press Secretary, Kazie Uko and his pioneer Commissioner for Health, Dr. Ngozi Okoronkwo. The governor disclosed this in Umuahia Friday night in a chat with newsmen, stating, “We did not sack the former Chief Press Secretary. We only did re-organization. No appointment is permanent.” Also explaining the position of the state Commissioner for Health who he suspended a few weeks ago, Otti said, “Suspension of the Commissioner of Health is on allegation based on suspicion. Already, a committee…