Strike: Why we’ll ground Nigeria’s economy despite Court Order — NLC Leader

  The economy of Nigeria, Africa’s biggest crude oil exporter, would be grounded through labour strike despite a Court Order against the action. The Nigeria Labour Congress (NLC) made this declaration just as the meeting between its leadership and representatives of the Nigerian government ended in deadlock. The labour unions planned a nationwide protest over the hike in the cost of petrol and electricity tariff. President of the NLC, Ayuba Wabba, declared in Abuja Thursday after the meeting with a Federal Government delegation to resolve the issues. The meeting, with…

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EXPLAINER: Nigeria’s Electricity Tariff Hike not for all DisCos’ Customers + SEE WHERE YOU BELONG

Using the Nigerian Electricity Regulatory Commission (NERC) rule, which was adequately exemplified by Eko Electricity Distribution Company (EKEDC), Platforms Africa, in this tariff Explainer, shows why the tariff hike should not be for all. The Eko Electricity Distribution Company (EKEDC), Nigeria’s leading power utility firm, it was, which first announced grouping of its customers into five service bands. Few hours after the NERC adjustments in tariff payable by electricity consumers in Nigeria, the EKEDC swiftly grouped its customers depicting the quantity and quality of supply they receive. General Manager, Corporate Communications of the…

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78 firms jostle for NNPC’s multi-billion dollars depots, pipelines, assets’ rehabilitation contracts

  . Transparent Public Bid Opening Processes fetch NNPC ICRC’s accolades Seventy eight (78) companies have joined the hot race to secure the contracts for the rehabilitation of critical downstream pipelines, associated depots and terminal infrastructure of the Nigerian National Petroleum Corporation (NNPC) through the Finance, Build, Operate and Transfer (BOT) model. This came as the Director General of the Infrastructure Concession Regulatory Commission (ICRC), Engr. Chidi Izuwah, has commended the leadership of the Nigerian National Petroleum Corporation (NNPC) for totally driving a transparent bid opening processes for the rehabilitation…

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NNPC’s oil trading surplus hits 858%, swells to ₦20.36bn in July

The Nigerian National Petroleum Corporation (NNPC) had a clean slate in July, recording 858 per cent increase in trading surplus of ₦20.36 billion in July 2020 compared to the ₦2.12 billion surplus in June 2020. The Monthly Financial and Operations Report (MFOR) of the Corporation, sighted by Platforms Africa, which showed this, also indicated that the 858 per cent overall upswell in performance was largely due to the 178 per cent rise in the surplus posted by the Nigerian Petroleum Development Company (NPDC), NNPC’s flagship Upstream entity. The NPDC’s impressive…

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Nigeria spits Fire over prolonged Injustice Citizens suffer in Ghana, Assures Of Action

  Nigerian Vice President expressed surprise citizens’ closed shops are yet to be opened despite the assurances given to President Muhammadu Buhari by his Ghanaian counterpart, President Akufo Ado in different private conversations.   The Nigerian government has, in strong terms, criticised the prolonged injustice Nigerian traders currently suffer in Ghana as a result of stiff business regulation imposed on them by the host country. Vice-President gave this assurance during a meeting with representatives of the Nigerian community in Ghana. Osinbajo also expressed surprise that their closed shops had yet…

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Stanbic Bank official docked over N0.437m customers deposits’ theft

  A 22-year-old bank employee, Tope Olajide, on Monday, appeared before an Ikeja Magistrates’ Court for stealing two customers’ Automatic Teller Machine (ATM) cards and used them to withdraw  N427,000. The defendant, whose residential address was not disclosed, is facing trial before Magistrate O. A. Olayinka on a charge of stealing. Olajide, however, denied committing the offence and was admitted to bail in the sum of N250,000 with two sureties in like sum. Olayinka said that the sureties must be gainfully employed and show evidence of two years’ tax payment…

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11 Banks in trouble as EFCC probes link with Dubai-bound Nigerian caught with 2,886 ATM cards

EFCC reveals massive customers accounts’ stealing, sale for N10,000 each Says Scan machine at the Lagos Airport had revealed Man caught with 2,886 ATM Cards was carrying packs of noodles Eleven commercial banks in Nigeria are in trouble as country’s anti-graft agency, Economic and Financial Crimes Commission (EFCC) begins the probe of their links with Dubai-bound Nigerian caught with 2,886 ATM cards. The Commission has also revealed massive bank customers accounts’ stealing and sale for N10,000 each going on in banks as a new strategy to launder money abroad. The…

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FCMB, Customer In N5bn Legal Battle + Link to Ngeria’s Suspended EFCC Chairman, Magu

A customer of First Monument Bank Plc (FCMB)  who is the General Overseer, Divine Hand of God Prophetic Ministry, Prophet Emmanuel Omale, has sued the Bank Plc for N5 billion. Omale, who claims to be the spiritual guide of the suspended acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, said FCMB falsely reported to the Nigerian Financial Intelligence Unit that N570m was paid into his church account, thereby, leading to accusations that the money was used in purchasing a house in Dubai for Magu. The suit marked…

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Union Bank staff arraigned over alleged N80m fraud + Why EFCC wanted him Jailed

The Nigeria’s anti-graft agency, Economic and Financial Crimes Commission (EFCC), has arraigned Kola Oduwole, an employee of Union Bank, for an alleged fraud involving the sum of N80 million. Oduwole was brought before Justice Musa Danladi of the Katsina State High Court by the Kano Zonal Office of the EFCC on six counts bordering on forgery and fraud. Oduwole was alleged to have forged signatures of the Relationship Manager of the bank on three fixed deposit certificates, presented same to some customers and subsequently got customers to deposit their funds…

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