Day: February 27, 2025

USAID-donated drugs diverted, sold for profits in Lagos, Abia markets

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The National Agency for Food and Drug Administration and Control revealed that it seized 87 truckloads of banned, expired and substandard medicinal products, including USAID and UNFPA-donated antiretroviral drugs, male and female condoms, among others. NAFDAC’s Director-General, Prof. Mojisola Adeyeye said this on Wednesday, while briefing State House correspondents at the Presidential Villa in Abuja. She also said that counterfeiters were after her life and those of her workers. “I told you about the attempted murder about six months ago. One of our staff members in Kano had his child…

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Oscar-winning actor Gene Hackman, wife, found dead

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95-year-old US actor Gene Hackman and his wife Betsy Arakawa have been found dead inside their home on Thursday in New Mexico. Santa Fe County Sheriff Adan Mendoza said the couple were found dead on Wednesday afternoon, adding that there was no immediate indication of foul play, according to the Santa Fe New Mexican, Variety and Sky News. Mendoza did not provide a cause of death. The couple reportedly died along with their dog. Hackman, who was 95, was once voted as likely to flop in showbiz but instead went…

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ICAN, Union Bank foster stronger relationship with courtesy visit

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The Institute of Chartered Accountants of Nigeria (ICAN) recently paid a courtesy visit to Stallion Plaza, Union Bank of Nigeria’s Head Office. This visit marks a significant step in fostering a stronger relationship between the two esteemed institutions. During the visit, ICAN and Union Bank representatives engaged in fruitful discussions to explore potential areas of collaboration and member’s growth within the Bank. The Union Bank team was led by the Chief Financial Officer, Mr. Oluwagbenga Adeoye FCA, and other notable UBN representatives, including Dr. Abigail Duopama-Obomanu, Chief Compliance Officer, Mr.…

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NIBSS: Nigeria’s banking fraud tripled from N11bn to N52bn in 4 years

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Fraudulent transactions in Nigeria’s banking system have tripled in the past four years from N11 billion to N52 billion, according to statistics from the Nigeria Inter-Bank Settlement System (NIBSS). NIBSS report analysis published on Wednesday estimated that N52.3 billion was lost to fraud in 2024, compared to N11.6 billion in 2020. The report said fraudsters attempted to steal N86.4 billion in 2024. The figure is the latest GDP figures released by the National Bureau of Statistics showing a fourth quarter 2024 growth of 3.8 percent, the fastest in three years,…

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Dangote reduces petrol price to N860 per litre in Lagos

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Dangote Petroleum Refinery said that in a bid to alleviate the financial burden on the Nigerian populace, it has announced a reduction of N65 in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, from N890 to N825 per litre, effective from 27th February 2025. With this new arrangement, buyers in Lagos would purchase fuel at N860 per litre at MRS outlets. The price adjustment, according to Dangote was designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season, while also…

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