Lagos residents raise concern as condom prices skyrocket
Some residents of Lagos have raised concerns over the increasing cost of condoms, saying it will lead to unsafe sex and unintended pregnancies among citizens. In separate interviews on Saturday, the residents said that access to affordable contraceptives was critical in ensuring the health of both partners, protection from sexually transmitted infections (STIs), and planning the desired pregnancy. There are different types and brands of condoms, such as Durex, Fiesta, Kiss, Rough Rider and Gold Circle, among others. Checks at some pharmacies showed that prices of condoms had increased by 50 to 200 per cent compared to last year’s
NANS Calls for suspension of NLC, TUC proposed strike
The National Association of Nigerian Students, NANS, has appealed to the Nigeria Labour Congress(NLC) and the Trade Union Congress(TUC) to suspend their proposed strike in the interest of the nation. NANS National President, Mr Pedro Obi, made the appeal at a news conference in Abeokuta on Saturday. The NLC and TUC had on February 8 issued a 14-day nationwide strike notice to the government over the failure to implement the agreements reached on October 2, following the removal of the fuel subsidy. Obi noted that the association shared the pains Nigerians are experiencing, especially the
NERC sanctions DISCOS for Overbilling
The Nigerian Electricity Regulatory Commission (NERC), has imposed sanctions on the eleven Electricity Distribution Companies (DisCos) over their failure to comply with its directive on capping of estimated bills for customers who are not yet metered. NERC, in a statement issued in Abuja on Friday said the sanctions were imposed following a review of the DisCos billing of unmetered customers for 2023. According to the statement, the review revealed that the DISCOs had failed to comply with the monthly energy caps issued by the commission in 2020 to curb arbitrary billing of electricity consumers. NERC noted in the statement that
EFCC Declares Emefiele’s Wife, Three Others Wanted
The Economic and Financial Crimes Commission (EFCC) yesterday declared Margaret Dumbiri Emefiele, wife of the embattled former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele wanted. Also declared wanted by the anti-graft agency were Eric Ocheme Odoh (m), Jonathan Omoile (m) and Anita Joy Omoile (f) for alleged for allegedly conniving with the immediate past CBN governor to convert “huge sums of money” belonging to the Federal Government. The EFCC, in a public notice, also accused the wanted persons of committing felony to wit: obtaining money by false pretences and stealing, contrary to and punishable under Sections 411,
CBN stops granting loans to Federal Government
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the apex bank will halt its Ways and Means loans to the Federal Government. Cardoso made this known on Friday while appearing before the Senate Committee on Banking, Insurance and other Finance Institutions, in Abuja. According to Cardoso, Ways and Means is a loan facility through which the CBN provides short-term financing to cover the government’s budget shortfalls. He further explained that the apex bank will no longer be a part of the Ways and Means agreement with the federal government until
Nigerians, others Nabbed in US Over $9.5Million Fraud Scheme
By Doris Israel Ijeoma The United States Attorney’s Office for the Maryland District has announced the arrest of 10 individuals on February 7. The arrests, made at various locations throughout Maryland, were related to an alleged money laundering conspiracy involving over $9.5 million in proceeds from fraud schemes. Among those arrested are believed to be at least two individuals from Nigeria. The operation involved the participation of law enforcement agents from Homeland Security Investigations Mid-Atlantic El-Dorado Task Force, the Environmental Protection Agency Office of Inspector General, IRS Criminal Investigation, and the Defense Criminal Investigative Service.
BREAKING: Senate drills CBN Governor Cardoso, other officials
The Senate Committee on Banking, Insurance and Financial Institutions is holding a session with Central Bank of Nigeria Governor Olayemi Cardoso. Cardoso led other officials of CBN to the Red Chambers on Friday morning amid the rising cost of living and hardship Nigerians are grappling with. Barely two days ago Cardoso appeared before the members of the House of Representatives over the free fall of the Naira and the foreign exchange crisis. The CBN governor blamed medical and education tourism for the pressure on Naira. Despite CBN’s recent policy interventions, FMDQ data indicated that the Naira dropped to N1479.47 per
CBN Reveals Reason For Lifting Forex Restriction On 43 Items
The Central Bank of Nigeria has outlined reasons for removing foreign exchange restrictions on 43 items. Recall that on Thursday, the apex bank lifted the forex restriction on rice, cement and 41 other items. The decision generated mixed reactions across the financial sector over its implications. While some hailed the decision, others believed it would promote a surge in importation thereby affecting local manufacturers. However, in a statement on Friday, the Corporate Communications Department of CBN explained that the move would help weaken the soaring parallel market exchange rate and promote orderliness in the forex market. CBN said
Five Things To Know About New FIRS Boss, Zacch Adedeji
President Bola Ahmed Tinubu has approved the appointment of Hon. Zacch Adedeji as the new Acting Executive Chairman of the Federal Inland Revenue Service (FIRS). Presidential spokesman, Ajuri Ngelale, announced this in a statement on Thursday. He said the president directed the erstwhile FIRS Chairman, Mr. Muhammad Nami, to proceed on 3 months of pre-retirement leave, as provisioned by Public Service Rule (PSR) 120243, with immediate effect, leading to his eventual retirement from service on December 8, 2023. Here are five things to know about the FIRS acting Executive Chairman. 1. Zacch Adedeji is 45 years old, born in
Customs Making over N5bn Daily Since Border Closure, Says Ali
The Comptroller-General of the Nigerian Customs Service, Hameed Ali, wednesday, told the National Assembly members that the agency has been raking in between N4.7bn and N5.8 bn since the federal government closed the nation’s borders. Ali stated this when he appeared before the Senate and House of Representatives joint committees on Finance and National Planning, working on the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper. The development came just as the joint panel summoned the Central Bank of Nigeria Governor, Godwin Emefiele and the Controller-General of the Nigerian Immigration Service, Muhammed Babandede, to appear before it on Thursday.
