Customer
Bankruptcy judge orders $44M in crypto to be returned to Celsius customers
A federal judge has ordered crypto lender Celsius to return crypto worth around $44 million to the platform’s custody program customers. According to Bloomberg, the verbal order was delivered by United States Bankruptcy Judge Martin Glenn in a Dec. 7 hearing, with the judge noting: “I want this case to move forward. I want creditors to recover as much as they possibly can as soon as they possibly can.” The amount — which applies only to crypto held within custody accounts — is a tiny fraction of the billions Celsius owes creditors, and the latest decision comes after an agreement was reached between Celsius advisers and stakeholders that crypto deposited in the custody accounts belonged to its users and not the platform. It is important to note that this order only applies to pure custody ...
Nigerian airlines list conditions for full refund to passengers after two-hour flight delay
Following the pronouncement of the Federal Government that airline operators must refund the full cost of travel tickets to passengers after a two-hour delay, commercial airlines have listed the conditions for such reimbursement. The airline operators made this known in separate interviews with newsmen. The Minister of Aviation, Hadi Sirika, had, on Thursday at the weekly State House briefing in Aso Villa, Abuja, read out some of the rights of air passengers as enshrined in Part 19 of the Consumer Protection Regulations of the Nigerian Civil Aviation Regulations (2015) and charged them to demand their rights whenever they were being trampled upon by airlines. “On domestic flights, for delay beyond one hour, carrier should provide refreshment, and one telephone call, or one SMS, or one e-ma...
Port Harcourt DisCo insists NMMP meters not for sale
File Photo The Port Harcourt Electricity Distribution Company (PHED) says it is not selling to customers, meters provided free to electricity users by the Federal Government. PHED’s Acting Manager of Corporate Communications, Mrs Chioma Aninwe, disclosed this in a statement in Port Harcourt on Monday. The Federal Government had in October 2020 introduced the National Mass Metering Programme (NMMP), to eliminate arbitrary estimated bills that were given to unmetered customers by Distribution Companies (Discos). Through the scheme, the Central Bank of Nigeria (CBN) provided financing support to the Discos for the procurement of meters for customers from local meter manufacturers. Aninwe disclosed in the statement that “Our attention has been drawn to a publication alleging that PHED is direc...
NCC boss: Over $70 billion spent on telecoms infrastructure in Nigeria
Vox Media Over $70 billion have been invested in telecommunications infrastructure deployment in Nigeria since the liberalisation of the industry in 2001. The Executive Vice Chairman of the Nigerian Communications Commission, NCC, Prof Umar Garba Danbatta, who made this known said the amount represented a larger chunk of local and Foreign Direct Investment (FDI) attracted into the sector within the period. Danbatta made the remarks on Thursday while delivering the Bullion Lecture 2021 Edition organised by the Centre for Financial Journalism (CFJ), Lagos. According to him, the investment in infrastructures has boosted the economy and provided more opportunities for more Nigerians have access to telecoms services. “Today, the number of active telephone lines being used by Nigerians has signi...
Nigerian government urged to lift restrictions on SIM card registration
A telecommunications expert in Owerri, the Imo capital, Mr Charles Okeke, has advised the Federal Government to remove the restrictions placed on SIM card registration. Okeke gave the advice at a news briefing in Owerri on Tuesday, while speaking on the effects of the federal government’s SIM Card-National Identification Number (NIN) linkage policy. He urged the government to embrace a more robust system that would encourage healthy partnership between the National Identity Management Commission (NIMC) and service providers to ensure a seamless linkage. He said that the partnership would fast-track the process and alleviate the “unnecessary hardship” faced by Nigerians due to tight deadlines for the exercise. He further said that large crowds of people struggling for attention at NIMC offi...
Man arrested with stolen car in Ogun
A Lagos-based car wash operator, Idris Ayotunde, who absconded with a customer’s car, has been arrested in Odeda, Ogun State. Ayotunde was arrested at Alakija village via Olodo at the weekend by Safer Highway Patrol team who were on stop-and-search duty on the Abeokuta/Ibadan expressway. The team stopped the car and demanded for its documents, and when Ayotunde could not produce them, he was taken to the Odeda Divisional Headquarters where the Divisional Police Officer (DPO), Ajayi Williams, interrogated him, and discovered he stole the car. Police spokesman Abimbola Oyeyemi, in a statement yesterday, said the suspect, who claimed to be an ND holder, confessed to joining a car wash at Jimoh Bus Stop, Shasha-Akowonjo, Lagos State, recently. Abimbola noted that the car owner, Mrs. Tosin Shof...
CIBN urges banks to strengthen cyber-security
The Chartered Institute of Bankers of Nigeria (CIBN) has urged the banks to strengthen their cyber-security architecture in order to prevent attacks by fraudsters. President/Chairman of Council of the institute, Mr. Bayo Olugbemi, made the call while delivering his remarks at the 2020 CIBN Fellowship Investiture in Lagos, at the weekend. The CIBN at its investiture formally conferred its honorary fellowship awards on 19 distinguished bankers in recognition of their contributions to the banking industry and the economy; 77 associates as elected Fellows while 105 senior management staff of banks and the academia became Honorary Senior Members of the institute at the event with the theme: ‘Financial Services in a post COVID 19 Environment: Strategic Imperative’. Some that were conferred with ...
EFCC investigates assault on Shawarma seller by officers
The Economic and Financial Crimes Commission says it has launched an investigation into the alleged assault of Ms Mnena Ato, the Managing Director and Chief Executive Officer, Star Shawarma, Makurdi, Benue State. The EFCC said in a statement by its Spokesman, Dele Oyewale, that it is not the character of the commission to assault innocent citizens. The statement read in part, “The attention of the EFCC has been drawn to reports of a recent arrest made by its officers at a pastry firm in Makurdi, Benue State, involving Ms Mnena Ato, Managing Director and Chief Executive Officer, Star Shawarma. “The commission has commenced investigations into the circumstances of her arrest and would leave no stone unturned in ensuring that all facts related to the arrest are unearthed. It is not in the cha...
