Author: bibncollar

Justice Stephen Daylyop Pam of the Federal High Court in Port Harcourt, Rivers State, has ordered the temporary freezing of funds and assets belonging to Beijing Seajets International Forwarder Company Limited over an alleged unpaid debt of $117,000 owed to Wellman Group Limited. The court also restrained Nigerian National Petroleum Company Limited and all banks operating in Nigeria from releasing or transferring any funds to the Chinese firm pending the determination of the suit. The orders were issued in suit No. FHC/PH/CS/55/2026 following an ex parte application filed by counsel to the plaintiff, Wellman Group Limited. According to the…

Pope Leo has issued the strongest apology yet from a Catholic pontiff over the Church’s historic involvement in slavery, admitting that the institution was slow to condemn the practice and at times helped legitimise it. In his first papal encyclical, Magnifica Humanitas, the pope described slavery as “a wound in Christian memory” and acknowledged that Church authorities once regulated forms of subjugation, including the enslavement of non-Christians. He also admitted that some ecclesiastical institutions owned slaves during the Middle Ages. “For this, in the name of the Church, I sincerely ask for pardon,” Leo wrote, expressing deep sorrow for the…

Shares of Ferrari fell more than six percent on Tuesday after the luxury automaker introduced the Luce, its first fully electric vehicle, signaling a historic shift in the company’s direction and design approach. The Maranello-based carmaker revealed the new model during an event in Rome, explaining that the name “Luce,” meaning “light,” reflects clarity and forward movement. The launch comes as several luxury automotive brands, including Porsche and Lamborghini, scale back or reassess their electric vehicle strategies due to slowing global demand for EVs. Following the announcement, Ferrari’s Milan-listed shares dropped sharply in early trading, falling as much as…

The Federal Government has cancelled $717.7 million in undisbursed intervention funding from the World Bank meant to support Nigeria’s troubled electricity sector after both parties agreed to discontinue the Power Sector Recovery Performance-Based Operation. The cancelled amount represents the remaining balance of the $1.52 billion power sector recovery programme initiated to improve electricity supply, strengthen financial sustainability, and reform key institutions within the sector. According to the World Bank, the decision followed the government’s inability to meet critical reform targets tied to the additional financing package approved in 2023. The bank noted that worsening macroeconomic conditions, especially the sharp…

The Nigeria Security and Civil Defence Corps (NSCDC) has launched a major crackdown on alleged economic sabotage by shutting down the operations of Inner Galaxy Steel Company and Jiuxing Integrity Industrial Ltd over their suspected involvement in the vandalism and recycling of stolen railway infrastructure across Nigeria. According to a statement released on Monday by NSCDC spokesperson, Afolabi Babawale, the action followed the discovery of what authorities described as a sophisticated criminal network accused of dismantling critical railway assets and converting them into steel products valued at billions of naira. The Corps revealed that it obtained court orders authorising the…

The Lagos State Ministry of Health has reassured residents that there is no immediate threat to the state despite the ongoing Ebola outbreak in parts of Central and East Africa, stressing that its biosecurity and emergency response systems remain fully active. Commissioner for Health, Akin Abayomi, said the state government was closely monitoring the situation following directives from Babajide Sanwo-Olu. According to the ministry, the outbreak — currently limited to Uganda and the Democratic Republic of the Congo — has resulted in about 177 deaths from nearly 700 suspected cases. The World Health Organization has classified the situation as…

The Nigerian Civil Aviation Authority (NCAA) has suspended its “no pay, no service” policy previously imposed on airlines owing statutory fees, citing the need to maintain stability in the aviation sector. The regulatory body explained that the decision came after reviewing the current challenges facing the industry, especially the soaring cost of aviation fuel and its impact on airline operations. The suspension applies to domestic carriers that were earlier listed for failing to remit required charges. The NCAA, however, clarified that the suspension does not erase the debts owed by the airlines, stressing that operators are still obligated to…

The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has risen sharply across Nigeria as increasing import expenses and limited supply continue to push retail prices higher. Market surveys reveal that Lagos currently records the steepest increases, with cooking gas selling for as much as N2,000 per kilogramme in some areas. Other cities, including Abuja, Kano, Bida, and Port Harcourt, are also experiencing steady price hikes. According to marketers and depot operators, many importers have either reduced or suspended LPG imports because of high landing costs and foreign exchange challenges. This has tightened supply nationwide and…

Opposition political parties in Nigeria are stepping up discussions and strategic consultations ahead of the 2027 general elections as they seek to form a strong alliance capable of challenging President Bola Tinubu and the ruling All Progressives Congress. The National Chairman of the Inter-Party Advisory Council, Yusuf Dantalle, revealed that political parties are actively exploring partnerships and alliances, even as preparations for party primaries and candidate nominations continue. Speaking on Channels Television’s Sunday Politics, Dantalle explained that negotiations among opposition parties could persist even after presidential candidates have emerged. He noted that Nigeria’s political landscape allows parties to collaborate based…

The Nigeria Football Federation has hailed several Nigerian stars who clinched league and cup titles with their clubs across Europe during the just-concluded season. NFF President, Ibrahim Musa Gusau, commended the players for their outstanding performances, describing their achievements as a reflection of their talent, consistency and professionalism. According to Gusau, the success of Nigerian players abroad is encouraging and serves as a positive sign for the national teams ahead of future international competitions. Among the standout performers was Victor Osimhen, who inspired Galatasaray to the Turkish Super Lig title with a series of impressive displays throughout the campaign.…