Trending Today: Media Highlights!

Tinubu Nigeria

Season’s greetings! In today’s Trending news stories;

1.  Central Bank of Nigeria (CBN) has cautioned Point-Of-Sale (PoS) operators regarding cash availability, citing collusion between some Deposit Money Banks and PoS operators affecting the Naira’s circulation. The CBN warns both parties to cease such actions or face legal consequences. Amid public concerns about limited naira access and potential exploitation by PoS operators, the CBN advises Nigerians to use alternative payment platforms. The CBN is investigating reported cases of collusion and emphasizes its commitment to sanctioning those found responsible. The public is encouraged to report unauthorized activities by banks or PoS agents through provided digital platforms.

2. The Enugu State Police Command is intensifying efforts against criminal activities, having recently arrested seven suspects for armed robbery, cultism, and firearms possession. The suspects, including a former local government councillor, confessed to being members of the Vikings Confraternity. The arrests were made in November, uncovering six firearms, 16 live cartridges, and a snatched vehicle. Enugu Police Commissioner CP Kanayo Uzuegbu affirmed the commitment to prosecute the suspects, emphasizing the continuation of police actions against criminals in the state. Additionally, an earlier operation led to the arrest of a robbery suspect, Ndubuisi Ugochukwu Eze Oboro, and an accomplice. Prosecution will follow ongoing investigations.

3. The Port Harcourt Refining and Petrochemical Company in Rivers State by the Federal Government has commenced. The facility began operations on December 20, 2023, after completing the first phase of work, with refined petroleum products expected to flow after the Christmas break. The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, congratulates the Nigerian National Petroleum Company Limited and Nigerians for this achievement. The Port Harcourt refinery, along with others in Kaduna and Warri, has been inactive for decades, and the government invested billions to revamp them. The mechanical completion of flare start-up on December 20, 2023, marks the beginning of petroleum product production. The rehabilitation project was initiated with a $1.5 billion contract signed with Tecnimont SPA on April 7, 2021.

4. Jim Obazee, a special investigator on the Central Bank of Nigeria (CBN) and related entities, has alleged that the former CBN governor, Godwin Emefiele, illegally maintained billions of naira across 593 bank accounts in the United States, United Kingdom, and China. Obazee claims Emefiele deposited £543,482,213 in fixed deposits in UK banks without approval. The investigator stated that these accounts have been traced. Emefiele is accused of unauthorized investments, fraudulent cash withdrawals, manipulation of exchange rates, and involvement in fraudulent activities related to the CBN’s e-Naira project. Emefiele, currently in the Kuje correctional facility, faces charges of procurement fraud valued at N1.2 billion. The investigation was initiated by President Bola Tinubu on July 30, 2023.

5. Club América, the newly crowned Liga MX champions, secured a 3-2 victory over LaLiga title-holders Barcelona in a friendly at the Cotton Bowl in Dallas. Barcelona, using an alternate roster featuring six teenagers, three making their debuts, took an early lead with a goal from 16-year-old Lamine Yamal. América responded with a 12th-minute equalizer by Julian Quiñones. Despite Barcelona’s 2-1 halftime lead, Quiñones scored again after the break, making it 2-2. América ultimately secured the win with an 82nd-minute goal from Henry Martín. The friendly, played after Barcelona’s midweek win over Almeria, served financial purposes, with Barcelona reportedly receiving €5 million for participation.

6.  Peace is set to resume its direct flight connectivity to Guangzhou, China, on December 28, 2023. The Nigerian carrier, known for expanding international routes, will now offer the Accra-China-Accra connection in addition to the Guangzhou-China route. This move aligns with Air Peace’s commitment to enhancing connectivity between cities and continents, fostering socio-economic relations. The airline, which began direct flights to China in 2022 and has since added several international routes, is also preparing to launch scheduled flights to London. Currently leading Nigeria’s aviation industry, Air Peace operates a network of domestic and international routes with a modern fleet of over 30 aircraft.

7. Nigeria has won a significant victory in a long-standing lawsuit against Process and Industrial Developments (P&ID), a company registered in the British Virgin Islands. P&ID’s bid to claim $11 billion in damages from Nigeria over a controversial gas contract was dismissed by London’s High Court. The court ruled that the contract award had been tainted by bribery and fraud. The dismissal marked a relief for Nigeria, as losing the case would have wiped out about one-third of the country’s foreign reserves. P&ID’s attempt to appeal the decision was also refused by the court. The case had been ongoing for over a decade.

 

 

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