President Muhammadu Buhari has constituted a committee headed by the Vice President, Professor Yemi Osinbajo, to care for the economic challenges that the present fight against the Coronavirus pandemic may bring for the time being. This was stated by the Secretary to the Government of the Federation (SGF), Boss Mustapha in his opening remarks at the daily briefing of the …

The Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed and the Governor of the Central Bank of Nigeria, Godwin Emefiele have announced that financial system and money market operators have been granted an exemption from the 14-day lockdown of Lagos, Ogun and Federal Capital Territory, Abuja. This group significantly consists of staff of commercial banks and others. This …

The Economic and Financial Crimes Commission (EFCC), Kaduna Zonal Office has secured the conviction of one Abdulkadir Mohammed Salihu, a former Sales Assistant of the Nigerian National Petroleum Corporation, NNPC, Kaduna Depot. He was arraigned on three count charge bordering on fraud to the tune of N6 billion, before Justice Z. B Abubakar of the Federal High Court in Kaduna State. Salihu …

Air Peace has reacted to a video making the rounds on social media purportedly that there was a COVID19 suspect aboard their Lagos – Kano flight (P47422) this morning. In a release signed by the management of the airline, it was said that there was on board a 17-year-old boy who suffers form travel sickness. The boy vomitted on board …

The Federal Government of Nigeria has announced a slash in the per liter of Premium Motor Spirit (PMS) – Petrol from N145 down to N125 representing about 10% reduction. More details shortly

In apparent fallout of the lockdown by several countries, Qatar Airways has cancelled several of its flights to and from Lagos, Nigeria. A circular issued by the airline’s country manager to it’s local partners; listed the number of flights cancelled to be ten flights. The cancelled flights would have been between Friday, March 20 and Monday, March 30. Though the …

The Federal Competition and Consumer Protection Commission (FCCPC) shut down the Haufei Restaurant and Mall located at 33, Aboyade Cole Street, Victoria Island, Lagos for not allowing Nigerians entrance into theie premises. In a tweet by the commission on Saturday; it stated “Today, FCCPC closed Haufei Restaurant & Mall 33 Aboyade Cole, VI based on credible intel & surveillance that …

A total of 40 group general managers (GGM) and general managers (GM) at the Nigerian National Petroleum Corporation have been forcefully retired by management of the corporation . In a report by Punch Newspapers, the affected GGMs and GMs were asked to leave the employ of the oil firm on Wednesday. Sources at the corporation also stated that the reorganisation …

The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office Thursday March 12, 2020 raided the popular Club Road/Hamdalla Hotel in Kaduna known for Bureaux de Change, BDC operations. The operation was a directive from the acting EFCC Chairman, Ibrahim Magu to monitor the activities of BDCs in Kaduna and its environs in an effort to prevent sabotaging the Federal Government’s efforts to stabilize the naira to the dollar. There are reports of …

The Uyo Zonal Office of the Economic and Financial Crimes Commission (EFCC) has uncovered a criminal syndicate of bankers that specialized in forging signatures of deceased bank customers, and stealing from their accounts. They also execute fraudulent financial transactions, including unauthorised debits of depositors’ funds. The members of the criminal syndicate, which include, Mbong Essien, Akwa Akwa, Precious John, Kenneth …