Business
CBN asks court not to unfreeze #EndSARS campaigners accounts
The Central Bank of Nigeria has pleaded with Justice Ahmed Mohammed of a Federal High Court in Abuja not to unfreeze the accounts of #EndSARS campaigners.
It hinged the plea on the argument that the campaigners were still under probe for terrorism financing.
The CBN said this in a counter-affidavit in opposition to a motion on notice filed by Gatefield Nigeria Limited, a company that sponsored freelance journalists to cover the #EndSARS protests in October.
The CBN had through an ex parte order frozen the account of Gatefield Nigeria Limited and 19 other persons said to have played a role in the recent #EndSARS protests.
However, Gatefield opposed the CBN’s action in court, insisting that the act was illegal because the apex bank had frozen the accounts even before the court order to do so was obtained.
In a counter-affidavit filed by a lawyer, A.J. Apera, on behalf of the CBN Governor, Godwin Emefiele, the apex bank stated that it duly obtained a court order on November 4, 2020 to freeze the accounts.
The CBN, however, made no mention of #EndSARS in the court papers but only told the court that all those whose accounts were frozen were under probe for suspected terrorism.
The affidavit read in part, “That the bank accounts frozen by this honourable court in this case are suspected to be involved in transactions bordering on terrorism financing and that the said accounts are being investigated by the Central Bank of Nigeria in that regard.”
The apex bank said it did not need to inform the #EndSARS campaigners about the freezing of their accounts because of the nature of the investigation which is terrorism-related.
It added, “That the allegations involving the defendants’ accounts being investigated by the Central Bank of Nigeria border on terrorism and that there was an extreme urgency warranting the grant of the ex parte order in this suit.”
The apex court said it had the legal right to investigate the defendants because it had to do with financing and funds being stored in financial institutions.
The CBN said it would forward its findings to the Nigerian Financial Intelligence Unit for further investigation.
The affidavit further read, “That it will be in the best interest of justice that the instant application be dismissed as the investigations being conducted by the Central Bank of Nigeria in respect of the defendants’ frozen accounts have not been concluded.”
The Parliament of the United Kingdom had last week criticised the Federal Government for freezing the accounts of #EndSARS campaigners under the guise of probing terrorist financing.
Railway
Opeifa’s appointment better deal for Nigerian railway, says TCAN
Opeifa’s appointment better deal for Nigerian railway, says TCAN
The appointment of Dr Kayode Opeifa as the managing director of the Nigerian Railway Corporation by President Bola Ahmed Tinubu is a positive development for nation’s railway sector.
Transportation Correspondent Association of Nigeria (TCAN) gave this position in a statement hailing the appointment.
Describing the appointment as a square peg in a square hole, TCAN said it would mark the beginning of better deals not only for the nation’s oldest public corporation but for the burgeoning railway sector.
In the statement signed by the Chairman, Adeyinka Aderibigbe, and General Secretary Fidelis Ugbomeh, TCAN said Opeifa, a one-time Commissioner for Transportation in Lagos State, has all that it takes to sustain the good work of his predecessors in the corporation and continue to push the operation that would see all the nation’s state capitals connected by rail in line with the Renewed Hope Agenda of the Tinubu administration.
TCAN said Opeifa played a pivotal role in transforming Lagos transportation sector, leading to a phenomenal transformation.
“His forward thinking initiatives in public sector transportation were instrumental in the sustenance of the Lagos State’s dynamics of the city’s mobility and traffic management, setting a model for other sister-states,” the statement stated.
TCAN said Opeifa is well prepared for the task ahead as the helmsman of the railway corporation, not only because he was a one-time Commissioner for Transportation under Governor Babatunde Fashola, under whose administration the state’s Strategic Transport Master Plan (STMP) took off, but was also appointed the Vice Chairman of the Lagos Ports Access Road Decongestion, spearheading initiatives that restored discipline on Apapa Ports access roads.
He is credited to have put an end to the decades long gridlock that made the nation’s busiest seaport a nightmare.
After the completion of that assignment. Opeifa, TCAN recalled, was also appointed a member of the Board of the Nigerian Railway Corporation by the former President Muhammadu Buhari after the completion of his term as the Transportation Secretary at the Federal Capital Territory Authority (FCTA).
A former Chairman, Conference of Transportation Commissioners of Nigeria, Opeifa is a Fellow of the Chartered Institute of Transport Administration (CIoTA), with a doctoral degree in Logistics and Transport Planning from the Lagos State University in 2022.
TCAN said his rich profile would help to ensure the delivery of new railway lines in line with the visions of the Tinubu administration, as he works at retooling the sustenance of the Nigeria’s Railway master plan, which runs its full course this year.
TCAN urged the new managing director to continue to partner with all critical stakeholders in order to achieve the mandate of Mr President in repositioning of the Nigerian railway and ensuring that Nigerians get a better deal in public sector transportation where the railway plays a major role.
Railway
Tinubu names Kayode Opeifa managing director of Nigerian Railway Corporation
Tinubu names Kayode Opeifa managing director of Nigerian Railway Corporation
President Bola Tinubu has appointed Dr Kayode Opeifa as new Managing Director of the Nigerian Railway Corporation (NRC).
Although a statement announcing the appointment was still being awaited from the Presidency as of 2.30pm on Wednesday, many sources told newstrends.ng that the letter had been delivered to the new NRC helmsman.
Z report by Guardian said Opeifa’s appointment was announced on Wednesday morning in a statement by the Renewed Hope United Kingdom.
Opeifa, a seasoned transportation expert and former Lagos State Commissioner for Transportation, has built a distinguished career marked by impactful reforms.
As commissioner, he introduced policies that significantly improved public transport and traffic management in Lagos, one of Africa’s busiest cities.
His contributions helped ease congestion and laid a strong foundation for the state’s rapid urban development.
He later served as Transport Secretary for the Federal Capital Territory (FCT), where he continued implementing progressive policies to enhance mobility in the nation’s capital.
“With this new role, Dr Opeifa is expected to lead the modernisation of Nigeria’s railway network, a crucial component of the country’s economic growth,” the post read.
“His vast experience in transportation planning and infrastructure development has raised expectations among industry stakeholders, who see him as the right fit to drive meaningful reforms.
“His appointment has drawn widespread commendation, with many citing his deep understanding of Nigeria’s transportation challenges and his ability to implement sustainable solutions.”
It is believed that under his leadership, enhancing railway connectivity and efficiency could significantly boost trade, commerce, and overall national development.
According to the statement, this appointment highlights the Tinubu administration’s commitment to selecting skilled professionals to execute its Renewed Hope agenda.
“As Nigeria aims for a more efficient and accessible railway system, expectations are high that Dr Opeifa will bring lasting and meaningful progress,” the statement read
Business
Telecom operators announce new data prices after 50% tariff hike
Telecom operators announce new data prices after 50% tariff hike
Telecom operators in Nigeria have introduced revised data prices after the Nigerian Communications Commission (NCC) approved a 50% tariff increase.
The NCC announced the tariff hike on Monday, enabling operators to adjust their pricing structures accordingly.
Leading providers such as MTN, Glo, Airtel, and 9mobile have released updated rates.
For MTN, the price for 25GB of data now stands at ₦9,750, up from the previous ₦6,500. Similarly, 10GB, 5GB, and 1GB now cost ₦5,250, ₦2,250, and ₦525, respectively, compared to their earlier prices of ₦3,500, ₦1,500, and ₦350.
Airtel’s 23GB data plan has risen to ₦9,000 from ₦6,000, while 10GB is now ₦4,500, an increase from ₦3,000.
9mobile has adjusted its 22GB data plan to ₦7,500, up from ₦5,000, while 9.5GB is now ₦3,750, previously ₦1,500.
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For Glo subscribers, the price for 24GB has increased to ₦7,500 from ₦5,000, while 10.8GB now costs ₦3,000, up from ₦2,500.
The tariff review has sparked reactions from users, as the increased rates reflect a significant rise in data costs nationwide.
The latest increase in data prices by telecom operators in Nigeria comes on the heels of the NCC’s approval of a 50% tariff hike, a decision that has sparked significant public and industry reactions.
This move is part of efforts by telecom operators to align their pricing structures with the rising costs of operations, which they attribute to inflation, increased fuel prices, foreign exchange fluctuations, and the rising cost of infrastructure maintenance.
While the NCC has justified the increase as necessary for the sustainability of the sector, it has raised concerns among Nigerians already grappling with the high cost of living.
This development underscores the ongoing challenges in balancing affordability for consumers with the viability of telecom operations in Nigeria’s complex economic environment.
Telecom operators announce new data prices after 50% tariff hike
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