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Police hunt kidnappers of Ekiti varsity’s ex-DVC

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Police hunt kidnappers of Ekiti varsity’s ex-DVC

The Ekiti State Commissioner of Police, Adeniran Akinwale, said on Friday that his men were on the trails of the kidnappers of former Deputy Vice Chancellor of Ekiti State University, Prof. Femi Olaofe.

The retired university teacher was kidnapped from his residence at the State Housing Estate in Ado Ekiti on Tuesday along with his security guard.

Akinwale said, “We have started working on it. We are tracking the kidnappers. We have recovered the vehicle of the professor which they used to whisk him away from his house.

“We recovered it along Afao Road in the night. We are trailing the professor with the culprits. By the special grace of God, we are going to rescue the man unhurt.”

The CP, while relating how the former DVC was kidnapped, said, “The Professor was kidnapped quietly from his house. The Prof. lives alone with only the guard.

“It was one small girl who saw the vehicle that moved out from the gate with speed who alerted people on the day of the incident, which should be in the night. They moved out and before police would get wind of it, they had gone.”

The community of Are Ekiti, Olaofe’s hometown in Irepodun Ifelodun Local Government, Ekiti, made an appeal to security agencies on Thursday to ensure the safe rescue of the abducted professor.

The President, Are Ekiti Development Association, James Adebayo, who expressed sadness over the kidnapping of Olaofe, said that the community had visited the Commissioner of Police, over the incident to ensure his rescue.

Adebayo, in a statement by the association’s Public Relations Officer, Odunayo Ehinafe, on Thursday, urged the police to do everything possible to rescue the retired university teacher from the kidnappers.

Sources in the estate said that the retired university teacher returned from Lagos where he had gone to visit his children in Ado Ekiti on Monday.

Portable caught on video fighting motorcyclist

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Portable caught on video fighting motorcyclist

Controversial Nigerian singer, Habeeb Okiokiola aka Portable, was captured on video Friday engaging in a fierce street fight with a motorcyclist in Lagos.
In the video seen on social media, the “Zazzu Zeh” was seen fighting the motorcyclist in the middle of the street.
Portable raged towards his challenger, pushed him to the ground and rained blows on the poor man despite attempts by onlookers to stop the fracas.
READ ALSO: Portable goes after Davido days after praising him for allegedly advising him wrongly
A voice was heard in the background, saying: “He has wounded that boy. Portable is in trouble. We won’t allow you to go. They have wounded that guy. Your life will be a mess. Look at your dirty celebrity.”

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EFCC Receives Petition to Arrest, Investigate Ex-Unity Bank Chair Etuh

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EFCC Receives Petition to Arrest, Investigate Ex-Unity Bank Chair Etuh

The Economic and Financial Crimes Commission (EFCC) has received a petition from the Global Integrity Crusade Network (GICN) to arrest and investigate former Unity Bank Chairman, Thomas Akoh Etuh, for various offences including corporate malfeasance, insider bank fraud, and money laundering.

The petition, signed by GICN’s Chairman, Board of Trustees, and President, Edward Omaga, Esq., alleges that Etuh committed these offences during his tenure as Chairman of Unity Bank’s Board of Directors between January 23, 2015, and October 4, 2017.

According to the petition, Etuh’s actions led to the bank’s financial woes, including a significant increase in non-performing loans (NPLs) and the eventual sale of the bank’s interest to Providus Bank.

The petition also alleges that Etuh used his position to enrich himself and his associates, causing significant financial losses to the bank and its customers.

The GICN is urging the EFCC to take immediate action, including arresting and prosecuting Etuh, directing the Central Bank of Nigeria to remove Unity Bank’s Directors, and compelling Etuh to refund any funds fraudulently diverted from the bank.

The petition adds: “We contend that the action of the Lagos State High Court presided over by Justice L.A. Okunnu when he discharged Thomas Akoh Etuh on September 21, 2021, of complicity in the money laundering charges preferred against Francis Atuche and Ugo Anyanwu is wrong, unacceptable, and reprehensible.”

The group, however, warned the anti-corruption agency that failure to act would lead to the filing of Mandamus Proceedings at the Federal High Court Abuja to compel it to do the needful

On its part, the EFCC acknowledged receipt of the petition on Thursday 11th July 2024 and is expected to investigate the allegations.

If found guilty, Etuh could face severe penalties, including imprisonment.

Nasarawa backs S’Court’s judgment on LG Autonomy 

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Nasarawa backs S’Court’s judgment on LG Autonomy 

The Nasarawa State government has declared its support for Thursday’s Supreme Court judgment which granted full autonomy to the 774 Local Government Areas in the country.

This was contained in a press statement made available to Journalists in Lafia on Friday by the State’s Attorney-General and Commissioner for Justice, Labaran Magaji.

According to the statement, the autonomy granted to the LGAs, would enhance democracy at the grassroots level and empower local authorities to make decisions that would have a positive impact on the residents.

The statement reads, ” I, Labaran Shuaibu Magaji Esq, the Honourable Attorney-General of Nasarawa State, wish to express our profound appreciation for the landmark judgment delivered by the Supreme Court in Suit No: SC/CV/343/2004, which grants autonomy to local governments.

“This judgment marks a significant milestone in the evolution of our democracy and the protection of local government funds from undue interference.

“Under the visionary and transparent leadership of Engr. Abdullahi Sule FNSE, Nasarawa State welcomes this decision as it aligns with our commitment to uphold the principles of democracy, transparency, and good governance at all levels of government.”

The statement added that, “The democratic set-up at the local government level as well as the non-tampering with local government fund, which characterized our government will ensure that resources meant for grassroots development are utilized for the benefit of our people.

“The autonomy granted to local governments by the Supreme Court will undoubtedly enhance the democratic setup at the grassroots level, empowering local authorities to make decisions that directly impact the lives of the people they serve.

“This decision reinforces the principles of federalism and strengthens the foundation of our democratic system.

“In Nasarawa State, we will study the letters of the judgement and set machinery in motion even as we are fully committed to supporting and implementing the judgment to ensure that our local governments operate independently, transparently, and accountably. We believe that this autonomy will lead to greater efficiency, improved service delivery, and increased development at the grassroots level.”

The Nasarawa State AGF further called on all relevant stakeholders, including local government officials, civil society organisations, and the general public to support the judgment and work together towards harnessing its positive effects for the benefit of the entire residents of the state.

Court to rule on Binance tax evasion case October 11

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Court to rule on Binance tax evasion case October 11

Justice Emeka Nwite of the Federal High Court, Abuja, has fixed October 11 for ruling in the trial of the popular cryptocurrency platform, Binance Holdings Limited, for alleged tax evasion.
The Federal Government arraigned the platform and its two directors on a four-count charge of tax evasion after it failed to register with the Federal Inland Revenue Service (FIRS) for tax purposes.
The crypto firm’s lawyer, Ayodele Omotilewa, appeared in court on Friday and pleaded not guilty to the charges.
He urged the court to dismiss all charges.
READ ALSO: EFCC to continue trial of Binance director, Gambaryan
After listening to the arguments from both parties, Justice Nwite adjourned the case till October 11.
This decision allows more time for further deliberation and review of the evidence presented by the parties.
The federal government in June dropped similar charges against Binance executives, Tigran Gambaryan and Nadeem Anjarwalla.
However, the duo are still facing separate money laundering charges which they both denied.
By: Babajide Okeowo
The post Court to rule on Binance tax evasion case October 11 appeared first on Latest Nigeria News | Top Stories from TVN.

IPMAN moves to reduce fuel queues in Nigeria

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IPMAN moves to reduce fuel queues in Nigeria

The Independent Marketers Association of Nigeria, IPMAN, has urged the Nigerian National Petroleum Corporation, NNPC, to increase fuel allocation to its members to reduce queues in filling stations.
IPMAN National Vice President, Alhaji Hammed Fasola, said in an interview with NAN in Ibadan on Friday that the fuel scarcity was due to low allocation.
According to him, if members of IPMAN get the product directly from NNPC, the price per litre will be affordable for Nigerians and the queues will reduce.
He says its members sell petrol at a higher price from other major marketers or depot owners because they get the product exorbitantly from third parties.
According to him, the association has presented its position on PMS allocation to NNPC, calling on it to allocate as much as 50 per cent as it used to in the past.
“It is not that we don’t get at all, we are getting a little, and when you compare our number in this sector; our members own 80 per cent of the filling stations.
“In the past, it was not like this.
“We had a share of 50 per cent but recently, things have changed, and we are trying to talk to the authorities, especially the NNPC, that they have to correct that abnormality.
“We are still trying to address the issue. This is why the independent marketers are selling at a higher price, which is not good for our image,” Fasola said
IPMAN moves to reduce fuel queues in Nigeria

NGX Group’s revolutionary e-offering platform goes live

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NGX Group’s revolutionary e-offering platform goes live

The Nigerian Exchange Group (NGX Group) has unveiled NGX Invest, a groundbreaking digital platform designed to streamline Public Offerings and Rights Issues in the capital market.
This followed the approval of the platform by the Securities and Exchange Commission (SEC).
The NGX Invest will ensure an efficient, convenient, and seamless experience in primary market transactions in the country.
It represents a significant leap forward in improving stakeholder experience within Nigeria’s capital market.
Building on the success of the country’s first digital public offering in 2021 which attracted over 150,000 new retail investors, 75% of whom were female and 85% under the age of 40 – NGX Invest enhances transparency and accessibility in primary market transactions.
The launch of NGX Invest coincides with the Central Bank of Nigeria’s (CBN) banking recapitalisation directive which has prompted numerous offers for subscription and rights announcements by banks.
Both the CBN and SEC have provided robust regulatory support for this initiative.
Investors can now access the platform at
Access Holdings Plc, FCMB Group, and Fidelity Bank Plc are already utilizing the NGX Invest APIs to distribute their offerings to retail investors.
More banks are also looking to leverage this platform.
The SEC Director-General, Dr. Emomotimi Agama, commended the initiative.
He said: “The e-Offering Platform aligns perfectly with our objective of future-proofing the Nigerian capital market. By digitalising and automating financial intermediation processes, we are fostering a more efficient, transparent, and inclusive capital market.
“At the Commission, our focus is on creating an enabling regulatory environment that promotes innovation without compromising compliance and investor protection. I commend NGX Group for its strategic investment in advancing our capital markets.”
The Group Chairman of NGX Group, Alhaji Umaru Kwairanga, commended the regulators for their support.
He said: “The supportive regulatory environment has provided a solid foundation that enabled the swift delivery of the platform. This reflects our mutual commitment to market development and will undoubtedly contribute to boosting the participation of retail investors in the capital market.
“As we strive for the market to play a larger role in Nigeria’s economic development, the integration of technology, strong partnerships, and collaboration, alongside a positive policy environment, will be essential.”
By: Babajide Okeowo
The post NGX Group’s revolutionary e-offering platform goes live appeared first on Latest Nigeria News | Top Stories from TVN.

Nigerian govt to collaborate with Kaduna on school feeding program

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Nigerian govt to collaborate with Kaduna on school feeding program

The Federal Government has reached out to Kaduna State in a bid to strengthen the national school feeding program.
The Senior Special Assistant to the President on School Feeding, Dr. Yetunde Adeniji, disclosed this at a meeting with the state deputy governor, Dr. Hadiza Balarabe.
The Speaker of the Kaduna State House of Assembly, Yusuf Liman, and the Executive Chairman of the Kaduna Inland Revenue Services, Jerry Adam, were also at the meeting.
Adeniji said the visit to Kaduna was to flag- off the first phase of the Value for Money Study in partnership with GAIN.
READ ALSO: Osun APC urges Adeleke to stop school feeding programme over alleged poisoning
He said: “We explored collaborative opportunities to advance educational initiatives and ensure sustainable progress in the school feeding program across the state.
“The visit which marks the second stage of the nationwide Value for Money (VFM) study underscores the presidency’s commitment to fostering dialogue and cooperation for the benefit of every child in Kaduna.”
The visit followed the launch of a nationwide “Value for Money (VFM)” study, a programme aimed at ensuring the school feeding scheme delivers maximum impact for school children and efficient use of government funds.
The post Nigerian govt to collaborate with Kaduna on school feeding program appeared first on Latest Nigeria News | Top Stories from TVN.

Nigerian govt sets up committee to tackle hunger

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Nigerian govt sets up committee to tackle hunger

The Federal Government has inaugurated the Presidential Food Systems Coordination Unit, PFSCU, to tackle the incessant hardship in the country.
Vice President Kashim Shettima who inaugurated the unit at the Presidential Villa in Abuja, on Friday, said it is part of the Tinubu administration’s plan to curb hunger.
The presidency has also collaborated with the states, development partners and other critical stakeholders to address the hike in prices of commodities and widespread food insecurity in the country.
Shettima while addressing the members and stakeholders emphasized the urgency of the situation saying, “The nation is facing a rare food security crisis and the sooner we come to terms with the reality, the better.
“Food insecurity endangers the very basis of our democratic experiment and this is why all hands have to be on deck. We are in a food security crisis but it also provides us the opportunity to re-engineer and reposition the nation on a firmer footing”.
The vice president highlighted the mandate of the PFSCU, noting that the unit was not created to usurp the functions of the Ministry of Agriculture.
He explained that the urgency and seriousness of the matter at hand require the ideas and resources of all stakeholders.
Speaking earlier, governors on the committee outlined plans to modernise farming practices, increase crop yields, and transform Nigeria into a self-sufficient food producer.
Governor Bassey Otu of Cross River said his state is looking to feed the country, adding that his government must modernize agriculture to feed the population.
“We are an agrarian state, and we have stepped up our game,” Governor Otu noted.
On his part, Borno State Governor, Babagana Zulum, emphasised the need for a coordinated approach, citing low productivity and population growth as a major challenge to the nation’s food security drive.
He called for investment in commercial agriculture, improved funding, and enhanced security for farmers.
Also, Niger State Governor, Mohammed Bago, suggested his state as a pilot for the President’s food security initiative.
He claimed that Niger has invested over N100 billion in agricultural mechanization, with 5,000 tractors and twenty pilot irrigation systems available.
Nigerian govt sets up committee to tackle hunger

Mutilated bodies of six women found in Kenya dumpsite

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Mutilated bodies of six women found in Kenya dumpsite

Kenyan police said they have launched an investigation after the mutilated bodies of six women were found on Friday in piles of garbage at a dump site in a Nairobi slum.

Police briefly fired tear gas and rubber bullets to disperse an angry crowd at a police station near the site of the grisly discovery in Mukuru, in the south of the capital, an AFP journalist said.

“The alarm was raised following the discovery of six severely mutilated bodies, all female, in various stages of decomposition,” the Directorate of Criminal Investigations said in a statement.

“The bodies were wrapped in nylon papers and reinforced with nylon ropes.”

Witnesses had earlier reported the bodies of nine men and women had been found.

Homicide detectives and forensic officers were at the scene, an abandoned quarry that was filled with water and used as a dumping ground for rubbish.

“We need answers from police because this is something that needs to be investigated very fast,” said Lucy Njambi, who lives in Mukuru.

“It is shocking what I have seen. Bodies stashed in sacks and dumped at the dumpsite.”

The DCI said preliminary investigations suggested all the victims had been killed in the same manner, without elaborating.

The bodies have been taken to the city morgue to await postmortem examinations, it added.

AFP

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