Author: Vardiafrica

Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Bola Tinubu over “the failure to probe the grim allegations that $3.4 billion loan obtained by Nigeria from the International Monetary Fund (IMF) to finance the budget and respond to COVID-19 is missing, diverted or unaccounted for.” The allegations are contained in the recently published 2020 Nigeria’s annual audited report by the Auditor-General of the Federation. The suit was filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Andrew Nwankwo What SERAP is seeking In the suit number FHC/ABJ/CS/269/2024 filed last Friday at the Federal High Court, Abuja, SERAP…

As Nigeria battles contemporary and emerging security challenges, the Minister of Defence, Mohammed Badaru, says the country will soon commence local production of arms, ammunition and other military hardware in line with the Federal Government’s commitment towards tackling insecurity in the country. The minister gave the hint on Thursday during a facility tour of the Defence Industries Corporation of Nigeria (DICON) headquarters in Kaduna State. He explained that the commitment is in line with President Bola Tinubu’s assent to the 2023 DICON Act which is aimed at local manufacturing of military hardware, noting that with the corporation’s level of hard…

The Federal Government announced on Saturday that the train services on the Port Harcourt to Aba route are expected to begin by the end of March. The announcement was made by Mr Fidet Okhiria, the Managing Director of the Nigeria Railway Corporation (NRC), during his visit to Port Harcourt for a test run of the recently reconstructed Eastern Narrow Gauge Rail line. Okhiria highlighted that workers are in the final stages of preparing the tracks, aiming to ensure the readiness for comprehensive train operations within the coming month. He shared his optimism about the contractor finishing the track ‘tampering’ process…

Worried by the worsening power supply, the federal government plans to query non-performing power distribution companies. The Minister of Power, Adebayo Adelabu, who summoned the Chief Executives of Abuja Electricity Distribution Company (AEDC) and Ibadan Electricity Distribution Company (IBEDC), talked tough about the deteriorating electricity supply. “Wilful non- performance by any DISCO could suffice as a reason for severe punishment or outright license revocation,” Adelabu was quoted as saying in a Saturday statement by his media aide, Bolaji Tunji. He said Adelabu is to meet with the discos next week, adding that the Managing Director of the Transmission Company of…

The Trade Union Congress (TUC) has responded to a dig by President Bola Tinubu where he told the labour unions to stop their protests and wait for 2027 to join the political process. The President at the inauguration of the Lagos Red Line project on Thursday maintain peace as they are not the only voice for Nigerians. But reacting to the President’s remarks on Channels Television’s Politics Today on Friday, the President of the TUC, Festus Osifo, said members of his union are not politicians and that they have the right to protest. “I listened to that comment yesterday where he said…

The Nigeria Labour Congress (NLC) has told President Bola Tinubu that members of the union are not interested in any political position including his office The President during the inauguration of the Lagos Red Line Project on Thursday, threw a jibe at the Labour unions, telling them to stop their protests and maintain peace as they are not the only voice for Nigerians. He told the Labour unions to wait for 2027 if they want to participate in the electoral process. But responding in a statement on Friday, the NLC President, Joe Ajaero, said they are not interested in Tinubu’s…

The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 Bureaux De Change Operators, accusing the affected institutions of failing to observe regulatory provisions. This was disclosed in a statement on Friday by the bank’s Acting Director, Corporate Communications, Sidi Ali Hakama. According to the apex bank, the move is part of efforts to restore confidence in the nation’s foreign exchange market. Noting that the list of affected BDC operators is available on its website, the CBN said it is revising the regulatory and supervisory guidelines for Bureau de Change operations in Nigeria, adding that compliance with the…

President Bola Tinubu has reappointed Kenny Anuwe, as the managing director (MD) and chief executive officer (CEO) of FGN Power Company Limited. In a statement by Ajuri Ngelale, special adviser to the president on media and publicity, on Friday, Tinubu also appointed new members to the management team of FGN Power Company. “In recognition of the critical role of power supply in driving enterprise and industrial development, and as a part of comprehensive efforts to reform the power sector and ensure energy security for all Nigerians, President Bola Tinubu has approved the appointment of new members of the management team…

Jose Peseiro has announced his departure from his Super Eagles head coach role. In a post on his X account on Friday, the Portuguese said his contract with the Nigeria Football Federation (NFF) had run out, and no new deal had been agreed on. Peseiro, appointed Eagles head coach in 2022, described his tenure as “22 months of immense dedication, sacrifice, emotion, and enormous enthusiasm”. He expressed gratitude to the players and top brass at NFF, adding that “we will always be there for you, no matter where you are”. “Yesterday, we concluded our contract with the NFF. It was a pride…

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri on Thursday in Abuja inaugurated the 4th Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB).The NCDMB Governing Council is set up under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and draws membership from representatives of select institutions connected with the oil and gas industry. Members of the new NCDMB Council were first announced by President Bola Tinubu on December 7, 2023, and they would be chaired by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, while the Executive Secretary of…