Crude Price Surge: Importers, Depots Hike PMS to N940, Dangote Maintains at N825/L

The volatility of crude oil prices in the international market has had a negative impact on Nigeria’s downstream oil sector, with importers and depot operators raising petrol prices to between N905 and N940 per litre. In contrast, Dangote Petroleum Refinery has maintained its ex-depot price at N825 per litre. According to data gathered, Rainoil increased its price to N920 from …

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Court Jails Man 76 Years For Internet Fraud in Lagos 

Justice Alexander Owoeye of the Federal High Court sitting in Ikoyi, Lagos, on Thursday, June 19, 2025, convicted and sentenced one Olukeye Adedayo to 76 years imprisonment.   Adedayo was arraigned sometime in 2024 on an 18-count charge bordering on transmission of child pornography, fraudulent impersonation, and sextortion to the tune of N721,500.00 (Seven Hundred and Twenty One Thousand, Five …

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Zenith Bank assures investors on exit from CBN’s regulatory forbearance by June 30th, restates commitment to continued dividend payment

Zenith Bank Plc, Nigeria’s biggest bank by Tier-1 Capital, has assured shareholders and investors of its readiness to satisfy all relevant conditions to exit the Central Bank of Nigeria’s (CBN) regulatory forbearance by June 30, 2025. The bank also expressed confidence in meeting shareholders’ dividend expectations in the 2025 financial year.   The clarification comes on the back of heightened …

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EFCC Re-arraigns Bauchi Accountant General, One other for Alleged N1.4bn Fraud

The Economic and Financial Crimes Commission, EFCC, on Tuesday, June 17, 2025, re-arraigned the Bauchi State’s Accountant General, Sirajo Muhammad Jaja before Justice O.A. Egwuatu of the Federal High Court, Maitama, Abuja.    Jaja was arraigned alongside a bureau de change operator, Aliyu Abubakar whose trading name is Jasfad Resources Enterprise. Other defendants at large are:   Abubakar Muhammed Hafiz, …

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EFCC Arraigns Oil Magnate in Port Harcourt for Alleged N750million Bank Fraud

The Port Harcourt’s Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, June 17, 2025 arraigned Ugochukwu Joseph Nwaemere, the Executive Director of Pennhydro-Pell Oil and Gas Limited before Justice E.A Obile of the Federal High Court sitting in Port Harcourt, Rivers State, for alleged conspiracy, forgery and obtaining money under false pretence to the tune of …

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Niger State Government Welcomes Buratai Foundation Aid for Flood Survivors

The Niger State Government in north Central Nigeria has welcomed officials from the TY Buratai Humanity Care Foundation and Tukur and Tukur Foundation, on a condolence visit to the state following the recent tragic flooding in Mokwa.     The foundations owned by former Chief of Army Staff, His Excellency Amb Lt General Tukur Yusufu Buratai CFR (Rtd) has initiated …

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Energy Group Knocks PETROAN, Accuses Marketers of Sabotaging Petroleum Sector Reforms

The Centre for Oil Sector Accountability and Reform (COSAR) has dismissed claims by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) that Dangote Refinery’s business model poses a threat to competition and employment in the downstream petroleum sector. In a detailed statement issued on Monday by Dr Raymond Osaremen Okojie, president of COSAR, the group said PETROAN’s criticisms …

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Alleged ₦7.8bn Fraud: EFCC Arraigns Emefiele for Unlawful Possession of 753 Housing Units

The Economic and Financial Crimes Commission, EFCC, on Monday, June 16, 2025, arraigned a former Governor of the Central Bank of Nigeria, CBN, Godwin Ifeanyi Emefiele, before Justice Yusuf Halilu of the Federal Capital Territory, FCT, High Court, Maitama, Abuja, on an eight-count charge bordering on criminal breach of trust, conspiracy, forgery, and unlawful possession of property suspected to be …

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Alleged $6bn Mambila Project Fraud: Obasanjo Didn’t Approve Contract to Sunrise Power Company- Witness

The Third Prosecution Witness, PW3, Umar Babangida in the trial of the former Minister of Power and Steel Development, Olu Agunloye, on Monday, June 16, 2025, told Justice J.O. Onwuegbuzie of the Federal Capital Territory High Court, Apo, that former President Olusegun Obasanjo and the Federal Executive Council, FEC, did not grant any contract approval to Sunrise Power and Transmission …

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