Author: Alade Adisa

The unsavoury political impasse ongoing sat the Lagos House of Assembly appears to be getting uglier with operatives of the Department of State Services (DSS) allegedly uncovering a large cache of arms and ammunition from an office space in the Assembly complex allegedly being used by one Baruwa Idris Okeowo. Baruwa, a retired serviceman is the Chief Security Officer (CSO) to the impeached former Speaker of the House, Mudashiru Obasa. The House of Assembly has been embroiled in a leadership tussle following the removal of Obasa as the Speaker of the Assembly. He was on January 13, 2025, removed by…

The Lagos State House of Assembly has dismissed rumours making rounds that 27 members are planning to defect to the Labour Party as untrue and a figment of imagination of its purveyors. In a statement issued to newsmen on Wednesday, the Chairman of the House Committee on Information, Strategy and Security, Ogundipe Stephen, countered this claim, describing the news as false, misleading, and a deliberate attempt to misinform the public. The Chairman said the report was not only offensive but also inaccurate and outright falsehood with no other purpose but to sow discord and confusion within the Assembly and among…

Following a petition from Governor Hyacinth Alia of Benue State, who accused the state Chief Judge, Maurice Ikpembese of abuse of office, tempering with the state local government election law, corruption, inciting judicial strikes, bribery and fraternising with politicians, the Benue State House of Assembly has removed the chief Judge. Consequently, the assembly recommended the swearing in of Justice Theresa Igoche, who is the next most senior judge as the acting chief judge of the state. However, lawmakers were divided on the issue as 13 out of the 31 members rejected the removal of the chief judge, distancing themselves from…

The non-remittance of $1.6 billion in royalties to the Federation Account by the Nigerian National Petroleum Company Limited (NNPCL) and several oil companies has provoked the House of Representatives Committee on Public Accounts to initiate a high-profile investigations. According to reports, the probe, launched on Tuesday, follows a damning audit report by the Office of the Auditor-General for the Federation (OAuGF), which flagged discrepancies in remittances linked to Production Sharing Contracts (PSCs), Repayment Agreements, and Modified Carry Arrangements. The 2021 OAuGF report presented at the hearing, claims that NNPC Ltd and oil firms collectively owed $1.6 billion in unpaid royalties…

…Demands $2bn in unpaid taxes The Nigerian Government has filed a lawsuit against cryptocurrency exchange company, Binance Holdings Limited, seeking $79.51 billion and ₦231 million in damages for alleged economic losses caused by its operations in the country. According to the charge marked FHC/ABJ/CS/1444/2024, the Federal Inland Revenue Service (FIRS), is also demanding $2.001 billion in income taxes for 2022 and 2023. Binance and its executives, Tigran Gambaryan and Nadeem Anjarwalla, are accused of violating Nigerian laws, including failure to register with the FIRS for tax compliance. This lawsuit is the third currently before the Federal High Court in Abuja…

….Also accused of planning to poison incumbent president Lula Jair Bolsonaro and 33 other suspects were hit with five charges over the alleged bid to prevent President Luiz Inácio Lula da Silva from taking office after a bitter election race. The Supreme Court will now weigh the charges and decide whether to initiate proceedings. Brazil’s attorney general on Tuesday, February 19, formally charged far-right former president Jair Bolsonaro and 33 others over an alleged coup attempt after his 2022 election loss. Bolsonaro, 69, and his co-accused were hit with five charges over the alleged bid to prevent President Luiz Inacio…

The President of Aliko Dangote Industries and Africa’s richest man, Alhaji Aliko Dangote, has been ranked the 86th richest person in the world by Forbes magazine. According to the renowned publication on Monday., the fortune of the Chairman of Dangote Petroleum Refinery & Petrochemicals has risen to $23.9 billion. Dangote’s wealth increased by 85.27 percent or $11 billion year-on-year, from $12.9 billion net worth reported by Forbes on February 18, 2023. According to Forbes, the fortunes of Africa’s wealthiest man were primarily due to his 92.3 percent stake in Dangote Petroleum Refinery & Petrochemicals. The 650,000 barrels per day (bpd)…

Brazil’s Mines and Energy Minister has announced that the country has joined the Organisation of Petroleum Exporting Countries (OPEC+) two years after the group extended an invitation, adding, however, that its membership will not be binding with regard to production cuts. Alexandre Silveira, the Mines and Energy Minister, after announcing the Brazilian government’s decision to join the group, described OPEC as “a forum for discussing strategies among oil-producing countries.” The AP quoted the minister as saying, ”We should not be ashamed of being oil producers. Brazil needs to grow, develop and create income and jobs.” Brazil is already one of…

The Department of State Services (DSS), has threatened to institute legal proceedings against two major television stations over their coverage of the Lagos State House of Assembly crisis. The Nigeria’s secret police alleged that Africa Independent Television (AIT) and Channels Television made false and damaging reports about its role in events at the Assembly on February 17. The DSS, through its lawyer, Adedeji Adedipe, claimed that it was only helping other security forces and didn’t do anything wrong. The agency wants both TV stations to retract their reports and apologize on air for three straight days, warning that should they…

For the past week, there have been verbal alterations between a cryptocurrency firm, Binance’s boss, Gambaryan and some members of the House of Representatives over the former’s claims that the lawmakers demanded a $150million bribe to give him a soft landing in the case of a fraud allegedly committed by the firm. However, the named lawmakers have fired back, affirming that Gambaryan’s allegation is a tale of falsehood and sheer blackmail. In this report, Damilola Olufemi, traces the genesis of the crisis and the underlying issues in the whole bribery saga It is an understatement to say that the mere…