Author: Festus Adeloye

The Federal High Court in Lagos on Thursday fixed January 20, 2025, for the Economic and Financial Crimes Commission to arraign the Chairman of Honeywell Group, Chief Oba Otudeko, and a former First Bank Managing Director, Stephen Onasanya, for allegedly looting N12.3bn from First Bank. Otudeko, a former Chairman of First Bank of Nigeria Holdings, and Onasanya are to be arraigned alongside a former board member of Honeywell, Soji Akintayo, and a firm, Anchorage Leisure Limited, allegedly connected to Otudeko. According to EFCC, the four defendants allegedly committed fraud in tranches of N5.2bn, N6.2bn, N6.150bn, N1.5bn and N500m, between 2013…

The Dangote Petroleum Refinery in Lekki is set to import additional crude oil as local supply from the Nigerian National Petroleum Company (NNPC) proves insufficient for its operations. The refinery, with a capacity of 650,000 barrels per day, has ramped up production to 500,000bpd, aiming for 650,000bpd by June. NNPC is struggling to supply enough crude for the refinery’s needs, as its allocated 450,000bpd for local consumption is not sufficient. As a result, the refinery will seek crude from international sources to meet its growing demand. The Naira-for-crude deal initiated by President Bola Tinubu remains in place, but experts note…

Brazilian striker Neymar said Thursday that former Paris Saint-Germain teammate Kylian Mbappe became “jealous” of his relationship with Lionel Messi when the Argentine superstar joined the club in 2021. Speaking on a podcast hosted by former Brazil striker Romario, Neymar blamed a clash of egos for the failure of the three stars to gel during their spell together at the French club. The 32-year-old Neymar, who left PSG for Saudi club Al-Hilal in 2023, said he initially got on well with Mbappe when the France international joined him at PSG in 2017. “I had my issues with him, we had…

Israel’s security cabinet was set to meet Friday after final details of a Gaza ceasefire and hostage release deal were ironed out, Prime Minister Benjamin Netanyahu’s office said, with the United States “confident” the truce would begin as planned this weekend. If approved by Israel’s cabinet, the ceasefire agreement would take effect Sunday and involve the exchange of Israeli hostages for Palestinian prisoners, after which the terms of a permanent end to the war would be finalised. Away from the diplomacy, Israeli strikes killed dozens of people, Gaza rescuers said Thursday, while Israel’s military reported hitting about 50 targets across…

The Board of Directors of Eterna Plc has appointed Olumide Adeosun as the new Managing Director/Chief Executive Officer of Eterna Plc.  According to a statement issued on Thursday by the Company’s Secretary/Legal Adviser, David Edet, the appointment will take effect on February 3, 2025. The Board commends the outgoing MD/CEO, Mr. Abiola Lawal, who has resigned from the company, effective January 31, 2025, for his significant contributions and exemplary leadership during his tenure. The Board also congratulates Adeosun on his new position and wishes him great success. Before his appointment as MD/CEO of Eterna Plc, he served as Group Executive…

Osun State Police Command has confirmed the death of one Adeyemi Adewale while participating in a football competition in Osogbo, the state capital. The deceased said to be a player of the Ilesa West Local Government Area football team, reportedly slumped on the field and was rushed to a hospital. It was further learnt that, at the hospital where he was rushed, a doctor confirmed him dead. Osun Police Command spokesperson, Yemisi Opalola, who confirmed the incident in a short statement made available to journalists, said the incident occurred on Thursday in Osogbo. The statement partly read, “Today, (Thursday) while…

The Federal Airports Authority of Nigeria has revealed that it requires a sum of N580bn for the rehabilitation of airports’ runways across the country. The Managing Director of FAAN, Olubunmi Kuku, lamented the state of the runway in the country on Wednesday while receiving the Permanent Secretary of the Ministry of Aviation and Aerospace Development, Ibrahim Kana. Kuku stated that airports’ runways which were built in the late 70s have outlived their lifespan. She added that aside from the runways, other airports’ infrastructures such as terminals also needed major rehabilitation which has been affecting operational efficiency and safety. She said,…

Ghana’s newly elected President John Mahama has announced plans to investigate his predecessor’s contested $400 million National Cathedral project, a stalled religious landmark that for critics become a symbol of fiscal irresponsibility. Mahama and his National Democratic Congress or NDC party easily won the December election after voters punished President Nana Akufo-Addo and his ruling New Patriotic Party (NPP) for economic mismanagement and high living costs. The National Cathedral, envisioned by Akufo-Addo as a tribute to God for his 2016 electoral victory, was initially billed as a privately funded initiative. But allegations that $58 million in public funds had been…

Kogi State Governor, Usman Ododo, has directed the immediate removal of the Tax Clearance Certificate as a prerequisite for students’ registration in state-owned tertiary institutions. The Executive Chairman of the Kogi State Internal Revenue Service, Salihu Enehe, disclosed this on Wednesday during a media briefing in Lokoja. Enehe explained that the governor’s directive aims to ease the burden on parents and guardians while encouraging educational pursuits in the state. “Parents and guardians are no longer required to present a TCC for registering their children and wards in Kogi’s tertiary institutions,” Enehe stated. However, he emphasised the importance of tax compliance,…

US President Joe Biden warned Wednesday that the “soul of America” is still at stake, as he prepared to deliver his farewell address to the nation before the return of Donald Trump. The 82-year-old Democrat will make a primetime speech from the Oval Office of the White House in which Biden is expected to tout the legacy of his single term in power. Ahead of the address at 8:00 pm (0100 GMT Thursday) Biden also released a letter to the American people which delivered an implicit swipe at Republican Trump. “I ran for president because I believed that the soul…