Author: Vardiafrica

The Federal Government is seeking $81 billon as compensation from cryptocurrency company, Binance Holdings Limited over alleged economic losses linked to its operations in Nigeria. The Federal Government claimed that Binance deliberately operated in secrecy despite having a significant economic presence in Nigeria. The Federal Government is also alleging that the company violated several financial and tax regulations, including the Companies Income Tax Act, the Federal Inland Revenue Service (Establishment) Act 2007, the Central Bank of Nigeria’s Regulatory Framework for Mobile Money Services, and the Significant Economic Presence (SEP) Order, which applies to foreign companies earning at least N25 million…

Microsoft has announced a $1 million (N1.6 billion) investment in Nigeria over the next two years to strengthen the country’s artificial intelligence (AI) capabilities. Ola Williams, Microsoft’s Managing Director for Nigeria and Ghana, made the announcement at the AI Nigeria Tour in Lagos. Williams, who was joined by the President of Microsoft Africa, Lilian Bernard, said the investment was aimed at positioning Nigeria as a leading AI hub in Africa. The initiative includes training one million Nigerians in AI and other emerging technologies while supporting job creation, with more than 70 million new jobs projected globally. The investment aligns with…

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that large fuel tanker trucks carrying 60,000 litres and above will no longer be allowed to load fuel at depots across the country. The Executive Director of Distribution Systems, Storage, and Retailing Infrastructure, Ogbugo Ukoha, disclosed this to Journalists on Wednesday. He said the decision is part of new measures to enhance road safety, regulate fuel quality, and ensure stable fuel supply across the country. Ukoha said the ban will take effect from March 1, 2025. This is coming on the heels of recent tanker accidents that resulted in…

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Oluoyede has charged local government Chairmen across the country to take the issue of accountability seriously as they do not have immunity from investigation and prosecution for fraud. He gave the charge in Gombe, Gombe state on Wednesday, February 19, 2025 while speaking at the Gombe State Local Government Summit. He pointedly told the local council Chairs to be prudent in the management of huge resources at their disposal stressing that “Local government chairmen do not have immunity and we are not going to wait until you…

The Attorney General and Minister for Justice, Lateef Fagbemi, has described the illegal dissolution and taking over of local government administration by state governors as a treasonable offence. Fagbemi stated this on Wednesday during the opening ceremony of an event organised by the Nigeria Bar Association in Abuja. Represented by the Director of Civil Appeals in the ministry, Tijani Gazali, the AGF noted that despite the judgment of the Supreme Court and the provision of the constitution guarding against the interference of state governors in the running of local government councils, some governors and their state assemblies continue dissolving elected…

An elder statesman and Ijaw leader, Chief Edwin Clark, is dead. He died Monday night at 97. His death was announced in a statement signed by Prof. C. C. Clark, for the family. The statement read, “The Clark-Fuludu Bekederemo family of Kiagbodo Town, Delta State, wishes to announce the passing of Chief (Dr.) Sen. Edwin Kiagbodo Clark OFR, CON on Monday 17th February , 2025. “The family appreciates your prayers at this time.” Mr Clark was born 25 May 1927. He was born in Kiagbodo, in the Ijaw area of what is now Delta State. He attended primary and secondary…

Ebie, who gave the assurance during the two-day Board and Management Retreat of the NDDC in Ikeja, Lagos State, said the Commission was building on the foundation it established in 2024 to refine our strategies for enhancing operations to achieve greater efficiency and effectiveness. The retreat, which attracted members of the National Assembly, past chairmen, managing directors of the NDDC, and key stakeholders, had the theme: “Repositioning NDDC for Efficient Service Delivery.” Ebie said: “We remain guided by the clarion call of the Honourable Minister of Regional Development, Engr. Abubakar Momoh, as we align with President Bola Tinubu’s Renewed Hope…

The African Union (AU) has endorsed Nigeria as the Digital Trade Champion for the continent under the Africa Continental Free Trade Area (AFCFTA) Digital Trade protocol, recognising the Nigerian government government’s outstanding efforts in advancing digital enterprise and innovation. A statement signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that the 38th Ordinary Session of the Assembly of Heads of State and Government, which concluded on Sunday in Addis Ababa, Ethiopia, recognised Nigeria’s proactive role in advancing the implementation of the digital trade protocol adopted in February 2024. The protocol features an…

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe on Monday visited the facilities of Samsung Heavy Industries Nigeria (SHIN), and Africoat Nigeria Limited, a pipe coating plant, located at Takwa Bay, Lagos.The visit is consistent with Ogbe’s determination to assess oil and gas facilities across the country as a prelude for their participation in ongoing and upcoming major oil industry projects. NCDMB played key roles in accelerating approvals for the new projects, which include Ubeta gas development project, currently being developed by Total Energies, and Bonga North, for which Shell Nigeria Exploration and Production…

The Police Service Commission (PSC) has approved the appointment of Moshood Jimoh as the new commissioner of police for Lagos state.  A statement issued on Monday by Ikechukwu Ani, PSC spokesperson, said Jimoh has undergone the necessary trainings and has the experience required for the job. “He has undergone several professional trainings which include; Combat operations Course, Mobile Training College Maiduguri; African Union Mission in Darfur Sudan; Weapons of mass destruction counter measure first responder Training Institute, United States; training on social construction and management Reform China Executive Leadership Academy, Pudong China; Training on Maritime Rescue and salvage for Developing Countries,…