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Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, May 29, 2024, convicted and sentenced one Adeyinka Bilikis Gbadamosi to six months imprisonment for currency racketeering. Gbadamosi was arraigned by the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on a one-count charge bordering on currency Racketeering. The count reads: “That you, Adeyinka Bilikis Gbadamosi, on the 27th of April, 2024 in Lagos, within the jurisdiction of this Honorable Court, engaged in hawking the total sum of N897,900 (Eight Hundred and Ninety Seven Thousand, Nine Hundred Naira) in N200 Naira note denomination,…

Tyson Fury’s rematch against Oleksandr Usyk has been scheduled for December 21 in Saudi Arabia. This highly anticipated bout follows Fury’s first professional defeat earlier this month, when Usyk won via split decision in Riyadh to become the undisputed heavyweight champion. With his victory, Usyk now holds the IBF, WBO, WBA, and WBC titles, making him the first unified heavyweight champion since Lennox Lewis in 1999. Despite the loss, Fury felt he had done enough to win the fight. However, two out of the three judges favored Usyk, particularly after he landed a powerful overhand left in the ninth round,…

By Ebun-Olu Adegboruwa, SAN After taking over power through brute force, General Ibrahim Babangida sought to partner with the International Monetary Fund, IMF, and to birth a generational project of financial captivity for Nigeria under the Brent Wood institution. Nigerians were opposed to the financial package from the IMF and students took up that challenge. I had just been elected as the Public Relations Officer of the Students’ Union of Obafemi Awolowo University and Great Ife being the headquarters of the students’ movement in Nigeria, we declared total support for the campaign to reject the IMF loan. This would lead…

The Saudi Arabian Foreign Ministry has condemned Israel’s deadly airstrikes on the southern Gaza city of Rafah. The kingdom denounced “the continuous genocidal massacres committed by the Israeli occupation forces against the Palestinian people without deterrence by continuing to target the tents of defenceless Palestinian refugees in Rafah.’’ Riyadh held Israel fully responsible “for what is happening in Rafah and across the occupied Palestinian territories.’’ It added that Israel’s violations of international and humanitarian resolutions “exacerbate the magnitude of the unprecedented humanitarian catastrophe experienced by the Palestinian people.’’ Palestinian medics on Tuesday said dozens of people have died in fresh…

The Federal Government informed a Federal High Court in Abuja on Wednesday that it no longer wished to pursue the alleged terrorism charge against the President of Miyetti Allah Kautal Kore, Alhaji Bello Bodejo. Prosecuting lawyer Mrs. Aderonke Imana made this disclosure during the resumed hearing on Wednesday. In an oral application, Mrs. Imana stated that she was applying pursuant to Section 108 of the Administration of Criminal Justice Act (ACJA) 2015. She further explained that the request was based on the authority of the Attorney General of the Federation (AGF) under Section 174 of the Constitution. Mrs. Imana said,…

The Nigerian luxury car market is experiencing remarkable growth despite the challenges posed by rising inflation and other macroeconomic turbulence, the Chief Operating Officer (COO), Jiji and Cars45, Maxim Makarchuk, has said. Cars45 is a technology-enabled automotive trading platform, powered by Africa’s e-commerce giant Jiji, which, some years ago, acquired and merged with Cars 45, to create a single organisation that offers unique services for car sellers, buyers, and dealers. Makarchuk said the Nigerian luxury car market is set to achieve a remarkable Compound Annual Growth Rate (CAGR) of 14.75 per cent, resulting in a projected market value of $55 million by…

The House of Representatives Committee on Shipping Services and Related Matters, on Monday, said that the Nigerian Shipping and Port Economic Regulatory Agency Bill, when passed into law, will curb arbitrary charges and other illegality from operators in the nation’s maritime industry. Speaking with newsmen after a Public Hearing on the repeal of the Nigerian Shippers Council Act, the Chairman of the Committee, Honourable Abdussamad Dasuki, explained that the Committee is still collating memoranda from various stakeholders on the Bill before going ahead to present the report before the House of Representatives for the Third Reading. Dasuki said, “We are…

The naira rallied to a recovery at the weekend on the back of sustained increase in the country’s foreign exchange (forex) reserves. The naira appreciated by 1.0 per cent to N1, 482.81 per dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM). This came as the nation’s forex reserves rose by additional $73.05 million to $32.74 billion. It was the fifth consecutive accretion in the continuing buildup of the reserves. Penultimate week, the reserves had added $195.01 million. It had grown by $89.76 million, $132.68 million and $10.76 million in recent weeks. At the forwards market, naira contracts closed on the…

Kano State’s Deputy Governor, Aminu Gwarzo, has extended an apology to the National Security Adviser, Nuhu Ribadu, for implicating him in the ongoing emirship dispute in the state. Previously, Gwarzo had alleged Ribadu’s involvement in facilitating the return of the deposed Emir of Kano, Aminu Ado Bayero, to the state, suggesting the provision of private jets. However, Ribadu refuted the claims and threatened legal recourse. Addressing the matter at a press conference in the Government House, Kano, Gwarzo expressed regret over the misinformation, clarifying the government’s stance. “The Office of the National Security Adviser has refuted the allegations and distanced…

President Bola Tinubu has highlighted the transformative potential of the Lagos-Calabar Coastal Highway, asserting that it will enhance access to production and marketing centers for 30 million people. Speaking during the flag-off ceremony for the 700km highway project and several others marking his first year in office, Tinubu outlined the manifold benefits of the coastal road. He emphasized that beyond its construction phase, the project would generate direct and indirect employment, open economic opportunities, and spur community development. “On the next 10 benefits of the Lagos-Calabar coastal highway; during the period of construction, the road will provide direct employment for…