Billionaire businessman, Jimoh Ibrahim’s application for a Lagos Division of the Federal High Court to vacate an interim order used by the Asset Management Corporation of Nigeria (AMCON) to seize his properties has been denied. Recall that on November 18, AMCON announced that it had taken over 12 properties belonging to the businessman and his firms. Following the seizure,…
American porn mogul, Larry Flynt, who was best known as the publisher for Hustler Magazine has died at the age of 78. He passed away on Wednesday February 10, at his Hollywood Hills home, his nephew, Jimmy Flynt Jr., confirmed to CNN. The exact cause of death was not disclosed, but Flynt Jr. said his…
The Central Bank of Nigeria has explained why it banned cryptocurrency-related transactions in the country. The apex bank in a statement released on Sunday February 7, said cryptocurrencies have become well-suited for conducting many illegal activities including money laundering, terrorism financing, purchase of small arms and light weapons, and tax evasion. Daily Trust reported that…
There are speculations of petrol price hitting N190 amid concerns over the non-implementation of the full deregulation of the downstream petroleum sector. Top officials of two major marketers’ associations who spoke to Punch, said the continued increase in oil prices had brought back petrol subsidy as the pump price of petrol should be between N185…
Diddy is taking his former clothing company, Sean John to court for using his image, likeness, and persona without his permission. The Hip Hop mogul has filed a $25 million lawsuit against his former clothing brand, Sean John, and the company’s new owner Global Brand Groups USA, according to All Hip Hop. According to a complaint…
The Civil Liberties Organization has berated AMCON for failing to obey court orders on an ongoing case involving the agency and Peace Global Satellite Communications Limited. The Human Rights Organization made this disclosure in Lagos today during a press conference. The organization stated below its findings after a thorough investigation of the dispute…
The Biden administration on Friday, Feb 5, said the U.S. would support Ngozi Okonjo-Iweala as the next director-general of the World Trade Organization, hours after South Korea’s trade minister stepped out of the race. The Biden administration’s decision is the last hurdle standing in the way of Ms. Okonjo-Iweala assuming the top job at the…
The world’s richest man, Jeff Bezos will step down as Amazon CEO later this year and transition to the role of executive chair, the company has announced. According to the February 2 announcement, Bezos will be replaced by Andy Jassy. Bezos has been Amazon’s CEO since its founding in 1995 and grew the company…
The Lagos-Ibadan Rail line has officially been connected to the Apapa port complex in Lagos. China Civil Engineering Construction Corporation (CCECC) made the announcement on Monday February 1. The statement read; “On the morning of Jan. 25, 2021, with the successful pouring of the last 25-meter monolithic track bed superstructure of Apapa Port Break…
Nigeria generated N2.94 trillion in income from value-added tax (VAT) and company income tax (CIT) in the year 2020, data released by the National Bureau of Statistics (NBS), has revealed. The figure is about 10 per cent higher than the N2.68 billion recorded in 2019. The breakdown shows that the third quarter (Q3)…
