By Ayomide Otitoju The Special Offences Court sitting in Ikeja, Lagos, on Tuesday granted bail to former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, in the sum of N50 million with two sureties. The court, presided over by Justice Rahman Oshodi, also convicted and wound up Sigma Golf Nigeria Limited,…
The United Nations has condemned the continued detention of Niger’s deposed president, Mohamed Bazoum, and his wife, Hadiza, calling their confinement “arbitrary” since his ouster in a military coup. Bazoum, who was democratically elected in 2021, was overthrown on July 26, 2023, by General Abdourahamane Tiani, head of the presidential guard, over allegations of failing…
Justice Ismail Ijelu of the Lagos State Special Offences Court, Ikeja, has scheduled March 11 for the arraignment of First City Monument Bank (FCMB) and three other defendants over allegations of forgery and mortgage fraud. The defendants include Okogun Polycarp, Batik Line International Limited, and Bolaji Adebajo. The court fixed the date after the accused…
Justice Ramon Oshodi of the Special Offences Court, Ikeja, Lagos, has ordered the forfeiture of 6.3 billion units of ordinary shares in Keystone Bank Limited, valued at N1.00 each, to the Federal Government of Nigeria. The ruling followed Sigma Golf Nigeria Limited’s guilty plea to the fraudulent conversion of N20 billion belonging to the Asset…
Finnish telecommunications giant Nokia announced on Monday that it will replace CEO Pekka Lundmark with Justin Hotard, an American executive currently leading artificial intelligence (AI) initiatives at Intel. Lundmark, who has been at Nokia’s helm since 2020, is set to step down on March 31, 2025, with Hotard assuming leadership the following day, the company…
In a sustained effort to combat illegal oil bunkering in the Niger Delta, troops of the 6 Division, Nigerian Army, in collaboration with other security agencies, have arrested 29 suspected oil thieves and dismantled 24 illegal refining sites. The operations, conducted between February 3 and 9, 2025, also led to the destruction of 11 boats…
By Ayomide Otitoju Polaris Bank, in partnership with Evolve Trust Charity, continued its commitment to improving education in Nigeria by donating essential school supplies to students at Gbaja Girls (Junior and Senior) High School, Surulere, Lagos, on Wednesday. The initiative, launched in 2021, focuses on empowering both girls and boys in public schools across the…
By Ayomide Otitoju Contrary to the Nigerian National Petroleum Company Limited’s (NNPCL) claims of progress in domestic refining, fresh data has revealed that the state-run oil firm imported 122,000 metric tonnes of petrol in just 96 hours, raising concerns over the true status of the country’s refineries. Records show that between February 6 and 10,…
By Ayomide Otitoju MTN Nigeria’s sudden increase in data prices has sparked widespread criticism on social media, with many subscribers expressing frustration over the steep hikes. The telecommunications giant raised the cost of its 15GB data bundle from N2,000 to N6,000, a 200% increase, despite regulatory approval from the Nigerian Communications Commission (NCC) allowing only…
