Author: Lawbreed Limited

The Ekiti State Police Command has arrested one suspect linked to the killing of two traditional rulers in Ekiti State last Monday. The Assistant Inspector-General of Police, Dare Ogundare, said that the suspect, Babusa Lede, had confessed to involvement in the killing of the two monarchs, adding that efforts were on to apprehend others involved. The traditional rulers, the Elesun of Esun Ekiti, Oba David Babatunde Ogunsakin and the Olumojo of Imojo-Ekiti, Oba Samuel Olusola, were killed by the gunmen; while the Alara of Ara (Ikole), Oba Sunday Fatoba, escaped being killed during the attack along Oke Ako-Irele Road. Ogundare,…

Matthew Kukah, Catholic Bishop of Sokoto diocese, has received his Mundo Negro Fraternity Award for his work with the Kukah Centre. Kukah received the award on Saturday in Madrid, Spain’s capital. Enrique Bayo Mata, a priest of the Comboni Missionaries and director of the Madrid-based Spanish Magazine, Mundo Negro, had informed the Kukah Centre of the award. Every year, the magazine organises the encounter with Africa during which the Award is given to a chosen African personality or institution that has stood out for their contribution to a better world and a better African continent. Atta Barkindo, executive director of…

An actress, Oluwadarasimi Omoseyin, has been sentenced to six months in jail by Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos for stepping on and spraying the new Naira notes at a social gathering in Lagos. The Economic and Financial Crimes Commission (EFCC) reported her conviction in a statement on its X page on Thursday. The anti-graft agency said: “She was first arraigned on February 13, 2023, by the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on two-count charges, to which she pleaded “not guilty”. She was subsequently granted bail on February…

The manager of the Joint Admissions and Matriculation Board Computer-Based Test (JAMB CBT) has been arrested and detained for allegedly participating in an online discussion with a 15-year-old candidate while utilizing information obtained during her exam registration. The situation was exposed when the candidate’s mother, who had registered her daughter using her phone number, received inappropriate messages on her device shortly after the registration procedure A social media post by the candidate’s mother accused JAMB of incompetence and a lack of data protection, sparking an investigation. According to the mother’s statement, the CBT manager got the phone number from the…

The Central Bank of Nigeria (CBN) has established a minimum operating capital requirement for International Money Transfer Operators (IMTOs) at $1 million for foreign entities and an equivalent amount for local IMTOs. It equally prohibited banks from directly operating International Money Transfer services. This significant development was outlined in the revised guidelines for the operation of IMTOs, which were officially released on January 31, 2024. According to the guidelines, applicants must adhere to the CBN’s anti-money laundering, combating the financing of terrorism, and countering proliferation financing of weapons of mass destruction regulations. These regulations are detailed in the CBN guidelines…

Nigeria has sharply devalued its currency for the second time in eight months, as the west African country bids to clear up its messy system of exchange rates and attract investment to its flailing economy. The naira has tumbled this week after the methodology used to calculate the official exchange rate was changed, taking the currency closer to the black market rate. The move is widely seen as part of market-friendly reforms being introduced by Bola Tinubu, who became president last May and who shortly afterwards jettisoned the years-long peg instituted by the former central bank chief that had kept…

The Central Bank of Nigeria (CBN) hit the nail on the head yesterday. It accused commercial banks of hoarding over $5 billion in foreign currencies against the threshold approved by the apex bank. CBN blamed the prevailing forex scarcity and naira’s free-fall against the dollar on the actions of the Deposit Money Banks (DMBs). The accusation came a day after the apex bank expressed concern about banks’ excessive forex exposure. At the close of the market yesterday, the naira exchanged N1,450/$ at the parallel market. It was a substantial gain (N70) against the dollar, having closed on Wednesday at N1,…

A 37-year-old security guard at Prestige International College, Nurudeen Shehu, has committed suicide over news of his ex-wife’s remarriage in Kano. The state Commissioner of Police, Usaini Gumel, who confirmed the incident on Tuesday, said it occurred inside one of the college’s classrooms on Sunday. Gumel said, “On January 28, at approximately 10.30 am, Abdullahi Abdulsalam of Rijiyar Zaki reported that Shehu was found hanging motionless in a classroom. “Policemen from Gwale Division, led by the DPO, made their way into the classroom, cut the rope, and rushed the body to the Murtala Mohammed General Hospital, where a doctor on…

Governor Nasir Idris has approved the payment of N27,500,000 as tuition and registration fees of 38 Kebbi State indigenes at the law school. This was contained in a statement signed by the Commissioner for Justice, Dr. Junaidu Bello Marshal and released to journalists in Birnin Kebbi on Monday. The statement said 28 Bar Part II students will receive the sum of N750,000 each, while the Bar Part I students will get the sum of 650,000 each. “His Excellency’s approval became necessary when the management of the Nigerian Law School increased the fees to N476,000 for Bar Part II and N353,00…

President Bola Tinubu has announced a shake-up in the oil sector to ensure transparency amid concerns about declining oil revenue and opaque practices within the NNPC. The President has directed the Central Bank of Nigeria (CBN) to take over responsibility for crude oil sales from the Nigerian National Petroleum Company Limited (NNPCL). Previously, the NNPC solely controlled crude oil sales, only submitting accounts to the federal government. Critics have long argued that this arrangement lacked transparency, allowing the NNPC to underreport earnings. The new directive requires the NNPC to submit all receipts for crude oil sales to the CBN for…