Naira: Protesters burn three banks in Sagamu, Ogun State - Newstrends
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Naira: Protesters burn three banks in Sagamu, Ogun State

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Some people protesting the current scarcity of new naira notes on Monday set three commercial banks ablaze in Sagamu, Ogun State.
They also torched some residential buildings during the protest against the Central Bank of Nigeria’s naira redesign programme.

Pictures and videos shared on social media showed burning buildings and bonfire on the road.
The videos also showed stranded commuters as the protesters blocked the Akarigbo-Sabo Road and burnt tyres.

Saharareporters, an online newspaper, reported some of the residents as blaming the governor of the state, Dapo Abiodun, for the unrest.

Last week, Governor Abiodun insisted that the old N500 and N1000 notes would remain legal tender in the state, threatening to sanction commercial banks and business outlets rejecting the old notes.

“The governor caused this, with his inciting statement against the bank.

“The people I pity most are Sagamu people, because how many banks dey the whole of Sagamu before. They will now come to lagos to withdraw. Na them go suffer. Banks are insured. Let them keep destroying banks,” a Twitter user said.

Last year, the Central Bank of Nigeria announced that it would redesign N200, N500 and N1000 banknotes, saying old notes should be swapped for new ones by January 31.

Following several appeals made by Nigerians, the deadline was moved to February 10. However, a Supreme Court ruling suspended the February 10 deadline.

A week after the Supreme Court ordered the Nigerian government to allow the continued use of old N200, N500 and N1,000 notes, President Muhammadu Buhari countered that order.

In his national broadcast last Thursday, Buhari announced that the old N500 and N1000 notes had ceased to be legal tender but extended the deadline for N200 notes to April 10.

But some states including Kaduna, Ogun, and Kano announced that the old notes would still be considered legal tender in their domain, based on the Supreme Court ruling. The state governments also threatened to sanction any bank that rejects the old notes until the apex court says otherwise.

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Witness Reveals How Sirika Approved Nigeria Air Consultancy Deal for Associate

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Witness Reveals How Sirika Approved Nigeria Air Consultancy Deal for Associate

Witness Reveals How Sirika Approved Nigeria Air Consultancy Deal for Associate

The trial of former Minister of Aviation, Hadi Sirika, took a fresh turn on Wednesday as an investigator with the Economic and Financial Crimes Commission (EFCC) detailed before a Federal Capital Territory High Court in Abuja how the former minister allegedly influenced the award and extension of consultancy contracts linked to the controversial Nigeria Air project.

The EFCC witness, Christopher Odofin, testified before Justice Sylvanus Oriji that Sirika allegedly directed the award of a consultancy contract for the establishment of Nigeria Air to Tianaero Nigeria Limited, a company reportedly linked to Gabriel Tilmann, whom investigators described as a close associate of the former minister.

Sirika is facing trial alongside his daughter, Fatima Sirika; his son-in-law, Hamma Jalal Sule; and Al Buraq Global Investment Limited over an amended six-count charge bordering on abuse of office, contract fraud, and the alleged diversion of public funds. All the defendants have pleaded not guilty to the charges.

According to the witness, Tianaero Nigeria Limited was awarded an initial consultancy contract worth over N299 million on April 4, 2022, for services related to the establishment of Nigeria Air. Odofin told the court that the contract was subsequently extended on October 17, 2022, increasing its value to more than N599 million. The EFCC investigator alleged that findings from the commission’s investigation indicated that the extension was granted on Sirika’s instruction due to his relationship with Tilmann.

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Odofin further informed the court that investigators examined the mobile phone of former Permanent Secretary in the Ministry of Aviation, Enitan Muyiwa Abel, and allegedly discovered a voice note sent by Sirika while he was in Spain. According to the witness, the former minister instructed the permanent secretary to ensure that the consultancy contract was awarded to Tianaero Nigeria Limited. He also alleged that the contract did not pass through the Bureau of Public Procurement (BPP) before approval but was instead processed based on Sirika’s directive.

The witness told the court that payments relating to the consultancy contract were traced through the company’s accounts with Access Bank and Guaranty Trust Bank. He added that records obtained from the Corporate Affairs Commission (CAC) showed that Tianaero Nigeria Limited was incorporated on March 29, 2021, less than two years before it secured the consultancy contract.

Odofin said investigators tendered bank statements, CAC documents, and a compact disc containing the alleged voice note as exhibits before the court. The exhibits were subsequently admitted into evidence.

The testimony also revived concerns surrounding the controversial launch of Nigeria Air in 2023. In an earlier court appearance, the same witness alleged that the aircraft unveiled as Nigeria Air shortly before the end of former President Muhammadu Buhari’s administration was actually an Ethiopian Airlines aircraft temporarily brought into Nigeria for branding and display purposes. According to the witness, the aircraft remained in Nigeria for only a few days before returning to Ethiopia after the unveiling ceremony.

The claim forms part of the broader allegations being investigated by the EFCC regarding the implementation of the national carrier project during Sirika’s tenure as aviation minister.

Following Wednesday’s proceedings, Justice Oriji adjourned the matter until July 8 for the prosecution to play the audio recording allegedly sent by Sirika and for the continuation of hearing.

The case remains one of the most closely watched corruption trials involving a former cabinet member, given its connection to the controversial Nigeria Air project and the allegations of abuse of office and contract irregularities.

Witness Reveals How Sirika Approved Nigeria Air Consultancy Deal for Associate

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Jetour X90 Plus Combines Power, Luxury, Family-Friendly Space in One Package

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Jetour X90 Plus Combines Power, Luxury, Family-Friendly Space in one Package

 

As demand grows for spacious, feature-rich and value-driven SUVs in Nigeria, the Jetour X90 Plus is carving out a strong reputation as a premium family vehicle that seamlessly combines luxury, advanced safety technology and impressive performance.

Designed to meet the needs of modern families and ambitious professionals, the seven-seater SUV delivers a compelling blend of comfort, practicality and innovation, making it one of the standout contenders in Nigeria’s highly competitive mid-size SUV market.

The Jetour X90 Plus offers an appealing mix of generous cabin space, refined styling and cutting-edge technology, positioning it as a vehicle built for both daily commuting and long-distance travel.

Its growing presence in the Nigerian market is further strengthened by an extensive dealership network comprising Elizade Nigeria Limited, New Era AutoVehicle Services Limited, Kojo Motors, Germaine Auto Centre, Tab Autos Limited, R. T. Briscoe Motors and Mandilas Autos, according to a statement by Jetour Nigeria Mobility Services.

The SUV’s bold exterior is defined by a prominent hexagonal grille, sleek LED headlamps and a commanding road presence that projects confidence and sophistication.

Under the hood, the X90 Plus is available with two turbocharged powertrains.

The 1.6-litre turbo engine generates 197 horsepower and 290Nm of torque, while the 2.0-litre turbocharged variant delivers a more robust 254 horsepower and 390Nm of torque.

Both engines are mated to a seven-speed dual-clutch transmission and front-wheel-drive system, ensuring responsive performance, fuel efficiency and smooth handling across varying road conditions.

Measuring 4,858mm in length, 1,925mm in width and 1,780mm in height, the SUV translates its substantial dimensions into a remarkably spacious interior.

The seven-seat cabin features premium materials, soft-touch finishes and elegant wood accents, while generous headroom and legroom across all three rows provide comfort for every occupant.

A panoramic sunroof further enhances the airy and luxurious feel of the interior.

Technology is at the heart of the driving experience, with a 12.3-inch LCD touchscreen infotainment system supporting phone mirroring, Bluetooth connectivity, voice control and wireless charging.

The climate control system is managed through a digital touchscreen interface and includes automatic rear and roof-mounted air vents, as well as an air purification function.

Occupant comfort is enhanced by power-adjustable front seats equipped with heating, ventilation, memory settings and lumbar support, while an eight-speaker Sony sound system provides a premium audio experience.

Safety remains one of the vehicle’s strongest selling points. The X90 Plus comes equipped with multiple airbags, Vehicle Stability Control, Advanced Emergency Braking, Hill-Start Assist, Hill-Descent Control, an Electronic Parking Brake with Auto Hold and a high-mounted stop lamp.

The SUV also features an array of advanced driver-assistance technologies, including a 360-degree camera with 2D and 3D viewing options, forward collision warning, parking sensors, radar monitoring and lane departure warning, all designed to improve safety and driver confidence.

Additional convenience features include smart keyless entry, push-button start, electronic gear selection, multiple drive modes, cruise control, automatic tailgate operation and advanced LED lighting systems.

Jetour Nigeria says the X90 Plus is supported by a comprehensive aftersales programme that includes warranty coverage, trained technicians and readily available spare parts, reinforcing the brand’s commitment to reliability, customer satisfaction and long-term ownership value.

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Dangote Refinery Announces New Petrol Price as Crude Oil Eases

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Dangote Refinery Announces New Petrol Price as Crude Oil Eases

Dangote Refinery Announces New Petrol Price as Crude Oil Eases

The Dangote Petroleum Refinery has announced a ₦75 reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, lowering the rate from ₦1,250 to ₦1,175 per litre in a move expected to influence Nigeria’s downstream fuel market.

In a notice issued to fuel marketers, the refinery said the adjustment takes effect from midnight on June 16, 2026, and applies to all outstanding but yet-to-be-loaded gantry volumes, which will be repriced at the new rate. The company also reduced its coastal petrol price per metric tonne from ₦1,595,790 to ₦1,495,215, reflecting a broader downward review across its pricing structure.

The refinery explained that the decision was influenced by the easing of geopolitical tensions in the Middle East, which had previously driven up global energy costs and caused volatility in the international oil market. It added that improved diplomatic engagements around key global shipping routes, including the Strait of Hormuz, have helped stabilize crude oil movement and pricing.

The international oil market had experienced significant pressure in recent months following tensions between major global powers, which pushed crude prices above $120 per barrel at the peak of the crisis. However, with renewed diplomatic discussions and easing tensions, crude prices have begun to stabilize, recently trading around the $80 per barrel range, offering some relief to refining and import costs globally.

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Since crude oil is the primary raw material for petrol production, changes in global prices directly affect refined product pricing across markets, including Nigeria.

The latest price adjustment positions the Dangote refinery as one of the most competitive suppliers in Nigeria’s deregulated downstream sector. Industry data from market tracking platforms indicate that petrol is currently being sold by some marketers at around ₦1,240 per litre, depending on logistics, location, and distribution costs.

The reduction is expected to gradually influence retail pump prices nationwide, although final consumer prices will still depend on transportation costs, dealer margins, and regional supply dynamics. Regulatory oversight is provided by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, which continues to monitor pricing trends and market stability in the downstream sector. Major industry players such as NNPC Limited are also expected to adjust their pricing strategies in response to shifts in the refinery’s ex-depot rates.

The latest petrol price reduction in Nigeria is expected to bring moderate relief to consumers already grappling with fluctuating fuel costs. However, analysts note that despite lower ex-depot prices, retail fuel prices may vary across states due to logistics costs and supply chain factors. If global crude oil prices remain stable or continue to decline, further downward adjustments in fuel prices may be possible in the coming weeks.

Dangote Refinery Announces New Petrol Price as Crude Oil Eases

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