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NGO calls for prosecution of security operatives who torture suspects
Access to Justice, a non-governmental organisation that focuses on judicial reforms, has called for the prosecution of security operatives who torture suspects. The NGO on Monday released a statement signed by Joseph Otteh, its convener, and Deji Ajare, project director, to commemorate the International Day in Support of Victims of Torture. Access to Justice said despite the fact that the Anti-Torture Act 2017 prohibits the torture of suspects, security agencies in Nigeria still engage in “brutal and inhumane tactics”. It noted that since the enactment of the act, no one has been prosecuted for perpetrating acts of torture. The NGO called on Abubakar Malami, the attorney-general of the federation, to as matter of urgency make the “rules and regulations for the effective implementation of t...
Naira slides again at official market
Naira for the second day in a row fell against the U.S. dollar at the official market Wednesday, but managed a rebound at the parallel market, a day after hitting its lowest black-market rate in at least four years. Data on the FMDQ Security Exchange where forex is officially traded showed that the naira closed at N412.00 per $1 at the Nafex window. The local currency performance on Wednesday represents a N0.25 or 0.06 per cent decrease from N411.75 the rate it traded in the previous session on Tuesday. The trading session on Wednesday witnessed a forex turnover of $131.86 million, this translates to a 23.44 per cent depreciation from $172.24 million posted in the previous session on Tuesday. The domestic currency experienced an intraday low of N420.97 and a high of N400.00 before closing ...
Rivers government seeks relocation of NIMASA cabotage department
The Governor of Rivers State, Nyesom Wike, has appealed to the Nigerian Maritime Administration and Safety Agency (NIMASA) to return its Cabotage Services Department to Port Harcourt. Wike made the appeal when the Director-General of NIMASA, Dr. Bashir Jamoh, visited him in Port Harcourt, recently. Wike said operations of the Cabotage Services Department of NIMASA used to be in Port Harcourt, Rivers State, but it was relocated to Lagos. The governor said in spite of his administration’s procurement of gunboats for security agencies, especially the Police and Navy to assist in the fight against piracy and ensure safety on the waterways for NIMASA’s businesses to thrive, the state did not get anything in return. He commended Jamoh for the initiative aimed at harnessing ocean resources as an ...
Adidas frustrated with Manchester United over sharp decline in shirt sales
Adidas are growing disgruntled with Manchester United after a downturn in shirt sales, according to the Daily Mail. With the deal that Man United agreed with Adidas worth in the region of £78M-a-year, as per the Daily Mail, you’d expect that it would be a relationship the club would try to keep healthy. However, the report claims that Adidas were frustrated with the Red Devils for their failure to brief them on plans for their involvement in the proposed European Super League. There is now also further discontent, with Adidas wary of Man United’s decline in shirt sales. The Daily Mail claim that shirt sales have fallen 100,000 over the last two years. It’s not exactly clear why that would be the case. You could argue it’s as a result of United’s decrease in quality on the field, or it coul...
Ibadan polytechnic students threaten public protest over extortion, mass failure
File Photo Students of The Polytechnic, Ibadan, Oyo State, have threatened to publicly protest continuous extortions by lecturers as well as the recurrent mass failures typifying their examinations, saying their future was hanging in the balance. A source told newsmen that the students are from the Urban and Regional Planning Department. Through their association, the aggrieved students this week raised a petition to the school management to look into the anomalies of their lecturers and take action, otherwise they would lead a public protest. In a copy of their petition titled, “Lamentations of the Urban and Regional Planning Students,” the students decried the harsh learning conditions in the department and the resultant mass failure and extra academic years that students suffered They s...
Ekiti reduces stake in Wema Bank
Ekiti State, one of the shareholders of Wema Bank Plc, has reduced its stake in the bank by 666.670 million from 1.191 billion shares. Ekiti, Oyo, Ogun, and Osun States are shareholders in Wema Bank. While Oyo, Osun, and Ogun held 666.670 million or 1.73 per cent each, Ekiti held 1.191 billion or 3.09 per cent as at December 31, 2019. But in a notification to the Nigerian Stock Exchange (NSE), signed by the Company Secretary of Wema Bank Plc, Johnson Lebile, the bank said Ekiti State Government sold 666.670 million shares at 65 kobo per share on the floors of the NSE, amounting to N433.336 million. According to the bank, the transaction took place between March 3 and 4, 2021. With the transaction, Ekiti State now holds about 524.1 million shares. Neem Tree Limited remains the majority shar...
NNPC declares N13.43 billion trading surplus for November 2020
The Nigerian National Petroleum Corporation, NNPC, has declared a trading surplus of N13.43billion for November 2020, 54 per cent more than the N8.71billion recorded in October 2020. This is contained in the November 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru Obateru said the trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue in the period under review. The report indicated that in November, NNPC Group’s operating revenue as compared to October 2020, decreased slightly by 0.02 per cent or N0.09billion to stand at N423.08 billion. Similarly, expenditure for the month decreased by 1...
