The federal government has directed the immediate suspension of Arik Air aircraft operations. Festus Keyamo, minister of aviation and aerospace development, gave the directive on Tuesday. The minister did not state the reason for the decision. Reacting to the development in a statement, Roy Ilegbodu, chief executive officer (CEO) of Arik Air (in receivership), said the minister’s directive came without warning or consultation. READ ALSO: Electricity Subsidy Jumps Over 150% To N633bn Despite Tariff Increase Who Paid For Reps Member Trip to Dangote Refinery?, By Francis Ajanaku Dangote Refinery Turns…
Read MoreDay: July 30, 2024
Electricity Subsidy Jumps Over 150% To N633bn Despite Tariff Increase
Subsidy payments on electricity gulped over N633.30 billion in the first quarter of 2024, representing a 150.5 per cent increase from ₦252.76 billion in Q4, 2023. The total amount spent on subsidy in the first three months of the year is also higher than N628.61 billion paid as a subsidy from January to December 2023. BusinessDay’s check showed that subsidy gulped N36.02 billion in the first quarter, N135.23 billion in the second quarter, N204.6 billion in the third quarter and N252.76 billion in the fourth quarter of 2023. READ ALSO:…
Read MoreMTN Shuts Down Offices Across Nigeria
“All stores and service centres of the Telecoms giant now under lock and key. Here’s why” Telecoms giant, MTN, has shut all its stores and service centres across Nigeria. Platforms Africa reports that the company said this in a terse statement on X, formerly Twitter, on Tuesday. Hundreds Of Dollars Laundered Out Of Nigeria Every Hour — Interpol In a viral video on social media Monday, a mob is seen destroying a barricade fence just outside the MTN office. The clip showed a large crowd of angry subscribers vandalising…
Read MoreHundreds Of Dollars Laundered Out Of Nigeria Every Hour — Interpol
The International Police Organisation’s investigation has shown that every hour, hundreds of thousands of dollars are being laundered out of Nigeria across the world. This disclosure was made in Abuja on Monday by the Interpol Vice President for Africa, Garba Umar, while declaring open a four-day training workshop for Nigerian law enforcement agencies at the Economic and Financial Crimes Commission (EFCC) Academy, Abuja. According to Umar, money laundering across Africa and the entire world has assumed a monstrous dimension and Interpol has designed Silver Notices to combat the menace. READ…
Read MoreLabour Excited As Tinubu Signs N70,000 Minimum Wage Bill
The organised labour on Monday expressed its excitement and demanded speedy implementation as President Bola Tinubu signed into law the new National Minimum Wage Act. “We are happy and urge government to sustain the same momentum in the calculation of consequential adjustments, payment of the new minimum wage and arrears,” the Head of Public Affairs of the Nigeria Labour Congress,Benson Upah, told The PUNCH. Similarly, the Deputy Vice President of the Trade Union Congress, Tommy Etim, said, “It is a welcome development and we expect the immediate implementation by the…
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