In a recent legal development, Agbele and three companies linked to him and former governor Fayose Sylvan Mcnamara Limited, De Privateer Limited, and Spotless Investment Limited are listed as respondents in an appeal concerning a ₦1.2 billion transaction. This amount is allegedly part of ₦4.7 billion transferred from an account associated with the Office of…
A recent report from the Office of the Accountant General of the Federation (OAGF) detailed the capital expenditure performance for Ministries, Departments, and Agencies (MDAs) as of the third quarter of 2023. It highlighted the allocation and utilization of funds for capital projects and programs, amounting to a total of ₦1.23 trillion released and cash-backed…
The Copernicus Climate Change Service (C3S) has reported that each month since June 2023 has set new temperature records, resulting in a 13-month streak of unprecedented global heat. According to Carlo Buontempo, the director of C3S, this trend signifies a significant and ongoing shift in the climate. He emphasized that as long as humanity continues…
In a recent court session, Justice Akintayo Aluko addressed a significant development in the case between United Bank of Africa (UBA) and Stallion Nigeria Limited. UBA, represented by Mr. Temilolu Adamolekun, is seeking to recover an alleged sum of ₦156bn from Stallion Nigeria Limited and its subsidiaries. The bank has appointed a Receiver over some…
By Ayomide Otitoju Chief Davidson Alaribe, the 60th President of the Institute of Chartered Accountants of Nigeria (ICAN), has urged accountants to uphold the profession’s principles while instilling innovation and integrity to help them navigate difficult times. Alaribe made this statement during the investiture of Mr. Olugbenga Daniel Sholarin, FCA, as the 7th Chairman of…
The Corporate Affairs Commission (CAC) has announced an extension for the registration of Fintech Operators, also known as Point of Sales (POS) Operators. The new deadline is set from July 7, 2024, to September 5, 2024, to accommodate operators, particularly in remote areas, who may have faced network issues. Earlier, in May 2024, the CAC…
The cost of maintaining a healthy diet in Nigeria has surged by 10.98% between February and May 2024, increasing from N938 to N1,041 per adult per day. This rise significantly outpaces general and food inflation rates, further limiting access to nutritious food for many Nigerians. The Cost of a Healthy Diet (CoHD), which measures physical…
The National Drug Law Enforcement Agency (NDLEA) has apprehended a syndicate led by a couple, Agbakoba John Mmadu, 54, and Agbakoba Ijeoma Chinwe, 39, along with their associate, Okoye Ifeoma Maryjane, 31, for their involvement in the packaging, distribution, and trafficking of cocaine within and outside Nigeria. NDLEA spokesperson Femi Babafemi, in a statement on…
The Socio-Economic Rights and Accountability Project (SERAP) secured a significant legal victory when Hon. Justice Deinde Isaac Dipeolu ruled in favor of their Freedom of Information suit (No. FHC/L/CS/853/2021). The court ordered the former Minister of Humanitarian Affairs, Disasters Management, and Social Development to disclose the details of the N729 billion expenditure. As disclosed by…
