Day: August 20, 2019

Supreme Court dismisses PDP, Atiku’s appeal, says ‘You can’t access INEC server’

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The appeal by the Peoples Democratic Party and its presidential candidate, Atiku Abubakar, seeking access to the Independent National Electoral Commission’s sever, has been dismissed by the Supreme Court on Tuesday. The Dattijo Muhammad-led five-man panel, in a unanimous judgment, dismissed the appeal, saying there was no basis to interfere with the earlier decision of the Presidential Election Petition Tribunal rejecting the appellants’ request to access the said server. Justice Centus Nweze, who read the lead judgment of the apex court, said the appellants failed to establish that the tribunal…

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Fowler blames low tax revenue on oil crisis

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Babatunde Fowler, chairman of the Federal Inland Revenue Service (FIRS), has responded to the query issued him by the Chief of Staff to the President, Abba Kyari, regarding the low tax collection in the last three years he has held sway. Agreeing that actual tax collection since the beginning of the President Muhammadu Buhari administration was lower than the 2012 to 2014 period under former President Goodluck Jonathan in general terms, Fowler noted that the FIRS under his watch had performed better regarding specific non-oil tax types such as value…

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20 per cent of nation’s reserves threatened as Irish firm gets ready to seize Nigeria’s N2.9tr assets

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Following Friday’s decision of the English Commercial Court to permit the enforcement of a 2016 arbitration award against Nigeria, an Irish company yesterday vowed its readiness to begin the process of seizing $9.6 billion (N2.946 trillion) of Nigeria’s assets. Justice Butcher had on Friday insisted on Process & Industrial Developments Limited’s (P&ID) right to enforce the pre-award interest, a decision Nigeria’s apex financial institution, the Central Bank of Nigeria (CBN), said it would appeal. Implementing the British Court’s decision will cost Nigeria more than 20 per cent of its $43.9…

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CBN to restrict forex on more food items -Emefiele

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Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has disclosed that it will deny foreign exchange (Forex) for importation of more items at both commercial banks and the apex bank levels. Emefiele stated this in Abuja at the opening of a two-day retreat for ministers’ designates and top government officials at the Presidential Villa yesterday. He said the authorities would also not renege on President Muhammadu Buhari’s directive to CBN to stop issuing Forex for food imports into Nigeria. Specifically, President Buhari had last week in Daura, Katsina…

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Igbo in Germany apologises to Ekweremadu

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Following the attack on the former deputy senate president, Dr. Ike Ekweremadu, Igbo living in Germany has on Monday apologized over the attack on him by the proscribed Indigenous People of Biafra, IPOB, living in Germany. Disclosing this in a statement signed by Uche Anichukwu, Special Assistant to Ekweremadu on Media, Igbo in Germany frowned at the attack, describing it as ‘senseless’. Anichukwu who quoted the group said, “We, Ndi-Igbo Germany, the umbrella/apex union of all Igbo unions operating in the Federal Republic of Germany are shocked and dismayed by…

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Obiwanne arraigned in American court over fraud

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Nigerian entrepreneur and a Forbes Africa 30 Under 30 honoree, Obinwanne Okeke, has been arraigned in an American court on August 9 on charges of computer and wire fraud. United States’ Federal Bureau of Investigation said Okeke and at least six other persons were involved in the crimes. “There is a probable cause to believe Okeke has conspired with several individuals to access computers without authorisation, and using such access to cause the fraudulent wire transfer of funds,” FBI’s special agent Marshall Ward said in an affidavit he deposed to…

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