Latest news with #N100
Business Insider
09-05-2025
- Business
- Business Insider
From court battles to cooperation: Dangote and NNPC seem to have called for a truce
In what could be the start of a critical shift in Nigeria's oil and gas sector, Aliko Dangote, President/CEO of the Dangote Group, recently paid a high-level courtesy visit to the new Group CEO of the Nigerian National Petroleum Company Limited (NNPC), Mr. Bashir Bayo Ojulari, at the NNPC Towers in Abuja. Dangote and NNPC's new GCEO meet to mend ties and boost collaboration. Past clashes included lawsuits, failed crude deals, and investment disputes. The meeting signals hope for improved fuel supply and energy security. The meeting, historic in its timing and significance, represents an attempt by two oil powerhouses to repair frayed ties and pave the way for a more cooperative and mutually profitable future. Dangote vs NNPC The relationship between Dangote Group and NNPCL has been strained in recent years. Disputes arose over several issues, including the contentious Naira-for-Crude deal, which was inconsistent under the previous NNPCL leadership. Designed to boost local refining, the program failed amid misunderstanding, lack of commitment, and claims by NNPC that it had "forward-sold all of its crude." Further straining ties, NNPCL first proposed a $1 billion investment for a 20% interest in the Dangote Refinery. However, this was eventually cut to 7%, along with attempts to recoup some of the funds. Dangote Petroleum Refinery, the world's largest single-train refinery, last year also sued the NNPC and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the issuance of fuel import licenses. Dangote contended that the ongoing acceptance of such permits weakens indigenous refining capability, especially as his $19 billion refinery approaches full output. A recent Federal High Court verdict in Abuja permitted the Dangote Group's N100 billion lawsuit to proceed, rejecting NNPCL's bid to halt the case. This emphasized the rising institutional friction between both parties, even as Nigerians continue to face high gasoline costs. NNPC and Dangote unite for the national interest Dangote and Ojulari's meeting on Thursday is the first official interaction since the previous NNPC chief, Mele Kyari, was removed in April. Both sides highlighted a common goal: to encourage healthy competition, boost Nigeria's energy security, and speed up the country's economic growth, as reported by the Punch. Ordinary Nigerians face tremendous stakes. The country has long battled with fuel imports, irregular supplies, and rising prices. If given the right conditions, Dangote has noted that his refinery can handle all of Nigeria's fuel needs. However, the NNPC continues to play an important role in domestic petroleum distribution and national energy policy. Recent public sentiment appears to be in favor of Dangote's output. In February, a viral video experiment contrasted petrol from an NNPC station to fuel from an MRS station that sold Dangote fuel. The Dangote-powered generator lasted roughly 13 minutes longer, provoking public arguments about quality and efficiency. If Thursday's meeting is any indication, both Dangote and NNPC may finally see that partnership, not hostility, is what Nigeria needs.
BBC News
08-04-2025
- BBC News
Man wey spray and abuse naira for im wedding chop prison sentence
One Federal High Court for Kano don sentence one makeup artist to six months in prison sake of naira abuse. Justice S.M Shuaibu jail Abdullahi Musa Huseini afta im plead guilty to one-count charge bordering on abuse and mutilation of di naira. For one statement by di Economic Financial Crimes Commission (EFCC), court find Huseini guilty say im mutilate money wey im spray during im wedding. Di charge read: "Dat you, Abdullahi Musa Huseini, on di 6th day of December, 2024, at Ali Jita Event Centre, Kano, within di jurisdiction of di Honourable Court whilst dancing during a social event tamper wit di sum N100,000.00 (One Hundred Thousand Naira) in 1000 notes denomination wey di Central Bank of Nigeria issue by spraying in di said occasion and you thereby commit offence contrary to and punishable under Section 21(1) of di Central Bank Act, 2007" "Di convict bin chop arrest afta credible intelligence on im involvement in di deliberate mutilation of di Nigerian currency as e spray am for im own wedding celebration. "Investigations reveal say Huseini willfully deface and abuse di naira notes in defiance of warning and campaigns against di practice by di EFCC," di anti-graft agency tok. Wen dem arraign am, Huseini bin plead guilty to di charge, and dis prompt di prosecution counsel, Zarami Mohammed, to present di facts of di case and tender evidence bifor di court. Delivering judgment, Justice Shuaibu found am guilty as charged and sentence am to six months imprisonment witout option of fine.
BBC News
21-03-2025
- Politics
- BBC News
Wetin to expect as Nnamdi Kanu terrorism trial begin afresh today
Di trial of Nnamdi Kanu, leader of di Indigenous People of Biafra (Ipob) go start afresh dis Friday for di Federal High Court in Abuja, one of im lawyers don confam to BBC. Na Justice James Omotosho go dey in charge of dis case now, afta Nnamdi Kanu ask Justice Binta Nyako to withdraw hersef from di matter wen Kanu accuse her of partiality. Nigeria goment dey accuse Kanu of terrorism and attempts to bring down goment, sake of di activities of Ipob, a group wey dey agitate to break away from di south eastern region of Nigeria to become independent kontri wey im name go be Biafra. Goment bin don declare di group as terrorist organisation in 2017. Kanu chief defense counsel Aloy Ejimakor post on X last week say "we dey primed and ready" for di trial. Wetin dey expected to happen in court Wen a new judge take over a case wey bin din dey go on, e no matter how far di case bin don go, di matter go start again from di beginning. And di beginning na di arraignment, wia dem go read out di charges for di person to plead guilty or not guilty. So dis na wetin dey expected to happen today. For Nnamdi Kanu matter di charges against am now dey seven. Di charges bin dey 15 but di former Judge, Binta Nyako, bin strike out eight of dem. Dis na di remaining charges: So, afta Kanu plead guilty or not guilty, di prosecution fit ask for di trial to resume but di defence team dey likely to apply for bail for Kanu bicos na wetin dem bin don dey try to achieve for a long time wen Binta Nyako dey in charge of di case. Nyako bin insist say Kanu bin jump bail in 2017 afta e run from Nigeria wen she bin grant am bail on health grounds, but Kanu lawyers maintain say e no jump bail rather e run for im life. Brief background As di leader of di secessionist group Ipob, Kanu, wey bin base for London, dey always talk about how di south east region suppose pull out for Nigeria and be dia own kontri. Im major platform na Radio Biafra wey also dey based for London, Britain, and im social media platforms. For October 2015, men of di Department of State Services, DSS, bin first arrest am as e come into Nigeria. Dat time na wen Muhammadu Buhari be president of Nigeria. Goment charge am to court for treason - togeda wit four oda pipo - ontop accuse say e dey use im Radio Biafra to dey talk tins wey fit destabilise Nigeria and bring down goment. Kanu dey remanded for prison for Kuje, Abuja until April 2017 wen justice Binta Nyako grant am bail bicos say im health bin dey fail, but she attach conditions say make Kanu no address di press and make e no dey for gathering of pipo wey pass 10. Di bail dey in di sum of N100 million wit three sureties, one of dem go be pesin wey im position high for goment; current Abia State senator Enyinnaya Abaribe na one of di pipo we stand surety for Kanu dat time. Kanu go later disappear from di public afta e tok say soldiers bin attack im house to kill am during one security operation wey dem call Operation Python Dance. Dat attack, according to Kanu, and di trauma wey follow am, na im lead to di death of im papa and mama wey bin die within two months of each oda - in October and December of 2019 respectively. Kanu later reappear in October 2018 wen pictures and videos show wia e go pray for di Western Wall of Jerusalem wey be one of di holy sites for Judaism, di religion wey Kanu dey identify wit. E later return to London and continue im agitation for Biafra, until June 2021 wen security forces bin seize am for Kenya and bring am back to Nigeria by force. Im case continue again bifor Justice Binta Nyako wey bin don revoke di bail she bin grant Kanu for 2017. Goment file amended 15-count charges against Kanu wey e plead not guilty to, but Nyako later comot eight of di charges say dem no get head. Kanu lawyers, dat time wey dey led by Mike Ozekhome a senior advocate of Nigeria, carry di matter go Court of Appeal as dem claim say di lower court suppose strike out all di charges. Di appeal court agree wit dem and strike out all di charges, but goment appeal to di Supreme Court wey overturn di judgement and say make di matter return to di High Court.
Yahoo
06-03-2025
- Politics
- Yahoo
Nigerian Senate suspends a female senator over sexual assault accusation
ABUJA, Nigeria (AP) — The Nigerian Senate on Thursday suspended a female senator after she accused its presiding officer of sexual assault. Sen. Natasha Akpoti-Uduaghan will be barred from her office and have her allowances and security withdrawn for six months, according to a recommendation by the Senate's ethics committee. The accusation made last week by Akpoti-Uduaghan, one of the only four women in a 109-seat chamber, against Senate President Godswill Akpabio was rejected by the ethics committee, citing procedural rule violations. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. 'This injustice will not be sustained,' the senator said on Thursday after she was prevented from speaking and escorted out of the chamber by the sergeant-at-arms. Akpabio has denied any wrongdoing. The percentage of women in parliament has dropped to an all-time low since Nigeria returned to democratic rule in 1999, according to the Policy and Legal Advocacy Centre, an organization that works to strengthen democratic governance in the country. While rare in Nigeria's parliament, this is not the first time a case involving sexual assault has emerged within its ranks. In 2016, Sen. Dino Melaye was accused of threatening to sexually assault Sen. Remi Tinubu, the current first lady of the country. He was not charged. Sen. Opeyemi Bamidele, the senate majority leader, said Akpoti-Uduaghan should use her time away from her legislative duties to 'learn the rules of the senate.' 'I asked her what she will gain if she tries to pull the senate president down,' Bamidele said during the consideration of the report on the senate floor. Critics, like Chioma Agwuegbo, executive director of TechHerNG, an organization advocating for women's rights, condemned the ethics committee's handling of the case, alleging bias. 'The ethics committee to which her petition was referred has shown that it is not fit for purpose," Agwuegbo said. Akpoti-Uduaghan has filed a lawsuit against the senate president, seeking N100 billion ($64,000) in damages. She did not respond to a request for comment. ____ Follow AP's Africa coverage at:
BBC News
05-03-2025
- Business
- BBC News
All di charges against Jude Okoye
Jude Okoye, di elder brother and ex- manager of Peter and Paul wey pipo know as P-Square appear bifor for one court for Lagos on Tuesday on allegation of stealing. Dis incident happun just afta court bin grant am N100 million Naira bail for im alleged fraud case. Oga Okoye plead "not guilty" to all di charges against am for court. According to di Economic and financial crimes commission, di fresh four offence dem, allege be say im commit am between 2016 and 2023. Wetin be di charges and allegations against Jude Okoye? For im federal high court case, Oga Jude Okoye dey face seven count charge wey get to do wit money laundering wey reach N1.38billion, $1million and £34,537.59. One of di charges read say: Dem say: " Jude Okoye Chigozie and Northside Music Ltd sometimes for 2022 use mago-mago take buy one landed property for No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos wey worth 850,000,000.00 naira ($566,000) and dis dey against di law. Anoda charge read say: Dem say: "Jude Okoye Chigozie and Northside Music Ltd sometime for 2022 indirectly use bureau de change, to convert di sum of $1,019,762.87 for Access Bank Plc account wey Northside Music Ltd get to di Naira equivalent and den put am inside various bank accounts wit di intention to hide am say di funds form part of di money wey dem get through mago-mago, so dem commit offence. Justice A.O. Owoeye grant Oga okoye N100 million bail, di trial go begin14 April, 2025 If court find am guilty for dis mata e fit go prison for nothing less dan four years or fine not less dan five times di proceeds of di crime or both. Jude Okoye Special Offences Court case For anoda separate case wey dey bifor di Special Offences Court for Ikeja, Lagos, Oga Okoye dey face fresh four-count charges on allegation of stealing wey reach $1,019,762.87 and £34,537.59. One of di charges read say: "Jude Chigozie Okoye and Northside Music Ltd sometime for 2016 use mago- mago to corner di total sum of $767,544.15 dat amount na Lex Records Limited pay for music digital distribution/publishing royalties, wit di intention to to permanently deprive Peter Obunmuneme Okoye im special interest for di property." Another charge read say: "Jude Chigozie Okoye and Northside Music Limited between 2016 and 2023 for Lagos, use mago-mago convert di sum of, wey be money wey Lex Records Limited pay for music digital distribution/publishing royalties and wit di intention to permanently deprive Peter Obunmuneme Okoye im special interest for di property." Dem further allege say im divert di sum of $133,566.49 wey Kobalt Music Services Limited pay and $118,652.23 wey Mtech Limited pay as royalties. Justice Rahman Oshodi adjourn di mata until 6, March 2025 for di hearing of di bail application and May 16 and 23, 2025 for trial, Oga Jude dey for Ikoyi Correctional Centre. If court find am guilty for dis case im fit face up three years for prison.
