By Tony Obiechina, Abuja In a bid to ensure that illegal fund managers are not allowed to fleece unsuspecting Nigerians of their hard earned funds, the Securities and Exchange Commission is introducing an express prohibition of Ponzi/Pyramid Schemes and other illegal investment schemes. These and others are contained in the Investments and Securities Bill (ISB) 2024 currently before the National Assembly. The Bill proposes that promoters and operators of any entity engaged in a prohibited scheme commits an offence and is liable on conviction to a penalty of not less than N20,000,000 or imprisonment to a term of 10 years or…
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The Eko Electricity Distribution Company (EKEDC) has advised customers to adopt energy-saving practices to avoid high electricity bills. The acting Chief Executive Officer of the company, Mrs Rekhiat Momoh, gave the advice during the EKEDC Customers Consultative Forum held on Thursday at the Apapa Business Unit in Lagos. The News Agency of Nigeria (NAN) reports that the forum attracted customers from various communities within the Apapa district, including Ajeromi-Ifelodun, Amukoko, Badia, Ajegunle, Tolu, Plaza, Idewu, Odofin, Sari, Boundary and Apapa. Momoh, represented by the company’s Chief Financial Officer, Mr Joseph Esenwa, emphasised the importance of conscious electricity consumption, particularly in…
Vice-President Kashim Shettima on Thursday announced that President Bola Tinubu has approved the establishment of a new Disaster Relief Fund to strengthen Nigeria’s humanitarian response system. Shettima made this known at the launch of the Humanitarian Supply Chain Management – Partnership for Localisation Project, held at the Presidential Villa, Abuja. The News Agency of Nigeria (NAN) reports that the Vice-President was represented by the Deputy Chief of Staff to the President (Office of the Vice President), Sen. Ibrahim Hadejia. The Vice-President explained that the fund would provide immediate assistance to disaster victims nationwide with a view to complementing the broader…
With 4-0 win over Central Bank of Ethiopia, on Wednesday afternoon, Mamelodi Sundowns Ladies got back title defense back on track in teh ongoing CAF Women’s Champions League in Morocco. Prompt News recalls that the defending champions, Sundowns Ladies, lost 1-0 to Egyptian debutants, FC Masar in their opening game on Saturday. But, the South Africans re-grouped to put up a strong performance against the Ethiopians who were no match for the class of Masandawana. Sundowns’ strong signal of intent was evident in the opening half with all four of their goals coming in the first stanza courtesy of a…
By Tony Obiechina, Abuja The Federal Government of Nigeria has disclosed plans to source from the private sector, part of the 10 billion dollars required to provide regular electricity across Nigeria within the next five to 10 years. This formed the crux of the deliberation when the Director General of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Oseodion Ewalefoh paid a courtesy visit to the Minister of Power Chief Adebayo A. Adelabu, on Tuesday in Abuja. The duo agreed that in view of the funding and technical requirement needed to advance the power sector in Nigeria, it had become…
By Harry Awurumibe, Editor, Abuja Bureau Still basking in the euphoria of their first win, complacency may only be the stumbling blocks between Nigeria’s Edo Queens and the quest for a semi-final ticket when they file out today (Wednesday) against FC Masar of Egypt in their second Group B match in the ongoing Confederation of African Women’s Champions League (CAFWCL) in Casablanca, Morocco. Edo Queens are going into the second match after they thrashed hapless Commercial Bank of Ethiopia (CBE) Ladies 3-0 in their opening game three days ago and by this becoming the first Nigerian club to win its first match…
By Tony Obiechina, Abuja The Federal Minister of Education has suspended for six weeks all 13 students involved in the bullying incident at the Federal Government College (FGC), Enugu pending the report of the investigative committee. The Minister of Education, Dr. Maruf Tunji Alausa, in a press statement signed by the Director, Press and Public Relations, Mrs. Boriowo Folasade, in Abuja on Tuesday reaffirmed the Ministry’s unwavering commitment to maintaining a safe and conducive learning environment in all federal schools across Nigeria. The Minister assured parents, guardians, and the general public that all necessary actions will be taken to restore…
Operatives of Ondo State Police Command, on Tuesday, said one prophetess, Mrs Folashade Adekola, has been arrested over the death of a woman, Jumoke Adesuwa and her newborn baby inside the church. According to THE PUNCH, the deceased bled to death from complications after childbirth inside the suspect’s church located in the Oke-Aro area of Akure, the state capital. The baby was said to have also died immediately. It was also learnt that the suspect was arrested by the men of the command after the deceased’s brother reported the matter at the police station. The state Police Public Relations Officer,…
Edo State Governor Monday Okpebholo shortly after inauguration on Tuesday, announced key positions to his new cabinet. He appointed Musa Ikhilor, a lawyer, as the Secretary to the State Government (SSG). and a former member of the House of Representatives, Dr Samson Osagie, as the Attorney-General and Commissioner for Justice. Governor Okpebholo also named Senator Adams Oshimhole’s son, Cyril, as the Commissioner for Health. All the appointments are subject to the approval of the Edo State House of Assembly, as the governor is expected to forward the names of the commissioner-nominees to the Assembly. Fred Itua, the Chief Press Secretary…
Edo State Governor Monday Okpebholo on Tuesday unveiled a five-point agenda for the development of the state after he was sworn in as the 6th civilian governor of the state. Okpebholo, in his inaugural speech, pledged to prioritise security, infrastructure, healthcare, food sufficiency, and education. The governor declared war on criminals, saying the era of incessant kidnapping and other violent crimes were over. “Our citizens is top priority for us. To achieve this, we shall implement programmes carefully outlined in my five-point agenda, designed to grow robust economic growth and improve the lives of our people. “We will not betray…