Victor EzejaHere are the top 10 stories from Nigerian newspapers today, 9th September 2024, in business and economy, politics, and entertainment among others.
1. Atiku Opposes Proposed VAT Increase, Warns Against Consequences
Former Vice President Atiku Abubakar, has kicked against the proposed increase of Valued added tax (VAT) from 7.5 per cent to 10 per cent, warning that it would deepen the cost-of-living crisis in Nigeria. Read more
Join our WhatsApp Channel2. FBN Holdings sells FBNQuest to EverQuest
FBN Holdings Plc has revealed plans to sell its 100 percent equity stake in its subsidiary, FBNQuest Merchant Bank Limited, to EverQuest Acquisition LLP.
The financial institution made this known in a statement filed with the Nigeria Exchange Limited by the Acting Company Secretary for FBN Holdings, Adeware Arogundade on Friday. Read more.
3. Money Laundering: US Seeks Access To Ailing Binance Executive
There are indications that the United States is pushing for consular access to a detained Binance executive, Tigran Gambaryan, currently held at the Kuje custodial centre in Abuja.
Gambaryan, a US citizen and Binance’s financial crimes compliance chief, was arrested in February 2024 along with another executive, Anjarwalla, upon their arrival in Nigeria.
Their detention followed an investigation that allegedly linked Binance to money laundering and terrorism financing.
The Federal High Court in Abuja has fixed October 9 to rule on a fresh bail application brought before the court by Gambaryan’s lawyer.
4. NAFDAC Investigates Pastor Jeremiah’s ‘Miracle, Soap’
The National Agency for Food and Drug Administration and Control (NAFDAC) has urged the public to stop patronising Pastor Jeremiah Omoto Fufeyin of Christ Mercy Land Delivery Ministries’ ‘miracle water and soap’.
The faith-based organisation in Delta State claims the products can heal and perform miracles, such as curing barrenness.
However, NAFDAC said it is currently investigating the products of the organisation
Director-general of NAFDAC, Prof Moji Adeyeye, in a statement on Sunday, said the agency had received numerous petitions from concerned citizens regarding the activities of a senior prophet of the church, Jeremiah Omoto, such as advertising and selling various unverified miracle products.
5. NDLEA Intercepts Consignments of Cocaine, Opioids In Sanitary Pads
The National Drug Law Enforcement Agency (NDLEA), operatives have intercepted consignments of cocaine and pharmaceutical opioids concealed in ladies’ sanitary pads and hair treatment cream containers by three courier firms in Lagos, heading to the United Kingdom, Ireland and Cyprus.
This was disclosed in a statement by the NDLEA Spokesman, Femi Babafemi, on Sunday
6.Petrol Price Hike Won’t Affect Edo Guber Election – INEC
The Independent National Electoral Commission (INEC) has said the recent hike in the price of petrol will not affect the conduct of the Edo governorship election.
Chief Press Secretary to the INEC Chairman, Mahmood Yakubu, Rotimi Oyekanmi, stated this during pre-election news conference in Abuja on Saturday.
Oyekanmi said the commission was already meeting with officials of the National Union of Road Transport Workers on the new development.
7. Petrol Tanker Explosion Kills 48 Persons, Roasts 50 Cattle In Niger
Not less than 48 persons were killed as a petrol tanker exploded after a head-on collision with another truck in Niger State, Nigeria on Sunday. Fifty cows were also burnt in the road accident.
This was disclosed in a statement by Director-General, Niger Emergency Management Agency (NEMA), Alhaji Abdullah- Baba-Arah, on Sunday.
8. Naira Devaluation, Subsidy Removal Impact Manufacturers
The removal of subsidy on fuel and the devaluation of the Naira have severely impacted manufacturers in Nigeria, leading to a significant decline in tax revenues as well as operational challenges.
The fuel prices have surged by over 300 per cent since 29 May 2023 when President Bola Tinubu announced removal of fuel subsidy. This has significantly affected cost of business operations across the country.
Also, the devaluation of the naira that occurred as a result of floating the local currency in the foreign exchange market has led to high cost of importation, exacerbating inflation and reducing purchasing power among consumers.
9. We Intervened To Save Labour Party From Crisis – Gov Otti
Abia State Governor, Dr Alex Otti, has said the Labour Party (LP) stakeholders’ meeting held last week that set up the 29-member caretaker committee was to save the party from crisis with the regulatory authorities and everyone else.
The stakeholders resolved to set up the committee headed by Nenadi Usman, a senator and former finance minister, last Wednesday at a meeting convened by Otti in Umuahia, the state capital.
Otti, who stated this during this month’s edition of “Governor Alex Otti Speaks To Abians”, said majority of members of the party were delighted with the resolution.
10. Super Eagles Touch Down In Kigali, Ready For Amavubi
Super Eagles stars have landed in Kigali in ahead of their Tuesday clash with Amavubi of Rwanda.
The Eagles had recorded 3-0 defeat against the Cheetahs of Benin Republic on Saturday. Read more
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
