Air Peace, Nigeria’s flag carrier, has announced an increase in capacity on its Lagos-London flights.

The airline made the announcement on its X page on Wednesday.

On March 30, Air Peace commenced its Lagos-London flight services.

During an interview on Arise TV on April 2, Allen Onyema, chief executive officer of Air Peace,  said the airline sold out tickets for the Lagos-London flights until September.

However, due to the high demand to fly with the airline, Air Peace on Wednesday said more seats have been created to meet the passengers’ needs.

“Due to overwhelming demand and interest in our London route, we have decided to increase the capacity on the route,” Air Peace said.

“This means that more seats are now available.

 

“Air Peace would like to thank the Nigerian population, both in Nigeria and in the United Kingdom, for their support.

“We do not take it for granted, and we will be doing our best to continue to make the whole country proud.”

Meanwhile, on April 2, Onyema said the airline faced internal and external obstacles before it could commence Lagos-London flight operation, adding that it took the airline seven years to be able to commence operations.

He also said the country is being fleeced by all the airlines “going to London from this place”. 

 

Onyema said people were paying five times more than they should have been paying for flights.

[TheCable]

The President Bola Tinubu-led Nigerian government has approved N225 ($0.15) per kilowatt-hour tariff increment for Band A electricity consumers in the country.

The Vice Chairman of the Nigerian Electricity Regulatory Commission (NERC), Musliu Oseni, who made this known at a press briefing in Abuja on Wednesday said the increase will see the customers paying N225 kilowatt per hour from the current N66.

According to Oseni, customers in Band A who are those who enjoy 20 hours of electricity supply daily represent 15 percent of the 12million electricity customers in Nigeria.

Oseni further said that the NERC had also downgraded some customers on the Band A to Band B due to non-fulfilment of the required hours of electricity provided by the electricity distribution company.

“We currently have 800 feeders that are categorised as Band A, but it will now be reduced to under 500. This means that 17 per cent now qualify as Band A feeders. These feeders only service 15 per cent of total electricity customers connected to the feeders.

“The commission has issued an order which is titled April supplementary order and the commission allows a 235 kilowatt per hour,” he said.

Oseni added that the upward review of the electricity tariff will not affect customers on the other Bands.

Gospel minister, Nathaniel Bassey, has petitioned the Inspector General of Police, Kayode Egbetokun, to investigate and prosecute four persons who he accused of criminal defamation and cyberstalking.

The singer submitted the petition to the IGP on April 1, 2024, through his lawyers, Peter Abraham, Uche Matthew, Gbenga Agunloye, and Anthony Abia.

Last week, four social media users alleged that Bassey fathered the son of fellow popular gospel singer, an allegation that went viral on X.

The lawyers, therefore, urged the police authorities to urgently treat the petition against the four social media users, identified in the petition as Okoronkwo Ejike, Kingsley Ibeh, Terrence Ekot and Dj Spoiltkid.

“Our client is a gospel music minister whose songs and ministrations have impacted the lives of so many from different walks of life across the globe,” the petition partly read.

“On Friday, the 29th day of March 2024, Mercy Chinwo Blessed another popular gospel music minister, and her husband posted pictures of their son and themselves on different social media platforms.

“However, our client was disheartened, saddened, and grossly disturbed to find that the above-mentioned suspects, as mischief makers with a criminal intent to destroy the image and character of our client, had made different social media posts of defamatory matter, calling our client ‘the father of minister Mercy Chinwo Blessed’s son,’ a woman who is married to another man.

“The post by Mr. Okoronkwo Ejike has since gone viral on the platform. In reaction to the post, Mr. Kingsley Ibeh commented on Mr. Okoronkwo’s post with a picture of our client with the caption “The real father of the baby.”

“In a post on the platform “X” formerly known as Twitter, “Dj SpoiltKid” a verified X user, quoted the statement by Okoronkwo Ejike along with a screenshot of the post and added, “When are we doing DNA test?”

“In another post, Mr. Terrence Ekot, on the platform “X” made a post thus: “Take a look at the stunning resemblance of mercy chinwo’s son and Nathaniel Bassey. Though duo has been working together on several projects in the past..what do you have to say?” (sic)

The lawyers said the social media posts by the four individuals amounted to complete assassination of Bassey’s character.

“These nefarious acts of these suspects, if not immediately dealt with, will continue to destroy our client’s image, injure his reputation, assassinate his character, and cast aspersion on the good name built by our client over the years.

The lawyers said the alleged actions of the four individuals contravened Sections 373 and 375 of the Criminal Code Act as well as Section 24(1)(b) of the Cybercrimes (Prohibition, Prevention, etc.).

“The consequences of making such statements on social media have been known to tarnish the reputations of individuals, render marriages unstable, and many never recover from them. International reputation is an asset—both for the individual and for the nation—and it takes time to acquire.

“Consequently, we urge you to use your good offices to, in the interest of justice, investigate this matter, arrest, and bring the suspect to justice, which will serve as a deterrent to others.”

Efforts to reach the Police Spokesman, Muyiwa Adejobi, for comments were not successful as of press time. Also, calls to Mercy Chinwo’s lawyer, Pelumi Olajengbesi, rang out.

 

The Ondo State Attorney-General and Commissioner for Justice, Kayode Ajulo, has disclosed that he does not plan on paying his 273 aides from the coffers of the state government.

He explained that the designations are mainly honorary, adding that this means the lawyers do not have any right to receive financial remuneration or employment advantages from the Ondo State government.

Ajulo stated this following the backlash he received after announcing the appointments.

He described the reaction that trailed the appointment as an “unfortunate misconception of issues.

 

Ajulo said that the aides will be classified as honorary and technical advisers, maintaining that they are comprised of professional and junior legal practitioners.

He noted that the aides would work closely with him to enhance what he described as ethical legal services to the state.

Most of these designations are purely honorary, indicating that the lawyers do not have any right to receive financial remuneration or employment advantages from the Ondo State government.

Most of the lawyers who have been appointed are renowned, trusted, and experienced lawyers and jurists who have willingly decided to contribute their services to Ondo State as a gesture of goodwill, and any compensation they receive will not be provided by the Ondo State Government,” he said.
 
[NaijaNews]

A former national chairman of the Peoples Democratic Party (PDP), Uche Secondus, has lambasted the Minister of the Federal Capital Territory (FCT), Nyesom Wike, for describing him and a former Minister of Transportation, Abiye Sekibo, as “expired politicians” over their support for Rivers State governor, Siminalayi Fubara.

 

Recall that last week, Secondus, Sekibo, who was director-general of the party’s presidential campaign council in Rivers State; Senator Lee Maeba, Celestine Omehia, and Austin Opara, an ex-lawmaker, openly declared their support for Fubara and urged President Bola Tinubu to caution Wike.

 In response, Wike had during a live media chat in Abuja, condemned the leaders of the PDP in Rivers State as “expired politicians” and “political buccaneers”.

But, Secondus in a statement by his media aide, Ike Abonyi, described Wike as “a showman noted for his double-speak, twisting of facts to score some cheap political points, and someone who stands the truth on its head.”

He further described the FCT Minister’s utterances during his media chat with select journalists as “appalling and rather unfortunate, more so he characterised our revered political leaders of Rivers State, casting them in a bad light by referring to them as transitional politicians, political vampires, and political buccaneers.”

[Leadership]

A former lawmaker, Shehu Sani has aired his opinion on the recent announcements made by the Federal Government on the increase of electricity tariffs.

DAILY POST reports that the Nigerian Electricity Regulatory Commission, NERC, on Wednesday gave the go-ahead to raise the electricity rates for customers in the Band A category.

During a press briefing in Abuja on Wednesday, the Vice Chairman of NERC, Musliu Oseni, announced that there will be a rise in electricity tariffs.

This adjustment will result in customers paying N225 per kilowatt-hour, up from the current rate of N66.

Sani, a former lawmaker, who represented Kaduna central district in the 8th assembly, said the increase would further reduce the living standard of Nigerians and kill businesses.

“Increasing electricity tariffs by 300% will finally electrocute human lives and businesses in the country,” he wrote on X.

[DailyPost]

President Bola Tinubu, on Wednesday, signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.

This development follows individual reviews by both the Senate and the House of Representatives of the report from the Committee on Tertiary Institutions and TETFund.

 

What is the student loan bill in Nigeria?

The Bill sponsored by Senator representing Ekiti Central Senatorial District of Ekiti State, Bamidele Opeyemi aims to improve the execution of the Higher Education Student Loan Scheme in Nigeria by tackling issues related to the management structure of the Nigerian Education Loan Fund, applicant eligibility criteria, loan purposes, funding sources, and procedures for disbursement and repayment.

 

How does the student loan works in Nigeria?

Under this Bill, the Nigerian Education Loan Fund (NELFUND) would be established as a legal entity with the authority to litigate and be litigated in its own name, and it would possess the power to acquire, hold, and dispose of both movable and immovable property to fulfill its functions.

In essence, the Bill enables the Fund to offer loans to eligible Nigerians for their tuition, fees, charges, and living expenses while studying in approved tertiary institutions and vocational training centers in Nigeria.

In contrast to the previous 2023 Act, which placed the Fund’s administration under a Special Committee chaired by the Governor of the Central Bank of Nigeria, this Bill proposes changes in the management structure.

What are the terms and conditions for student loan in Nigeria?

Furthermore, the Bill eliminates the income-based eligibility criterion set by the existing law, which required an annual income of less than N500,000 for applicants or their families.

The Bill also broadens the scope of eligibility, allowing students from federally or state-established tertiary institutions and government-approved vocational institutions to apply, with specific criteria to be determined by the Fund.

Additionally, unlike the 2023 Act, which limited loan applications solely to tuition fees, the new Bill permits applicants to request loans to cover various institutional charges and maintenance allowances.

Vanguard News

Automated Teller Machine (ATM): What It Is And How To Use One | Bankrate

 

Nigerian commercial banks have set withdrawal limits on their automated teller machines (ATMs), TheCable can report.

Findings showed the limits vary across banks.

This followed reported cases of cash scarcity in some parts of the country in the second half of last year.

On November 2, 2023, the Central Bank of Nigeria (CBN) said the scarcity experienced in some locations was due to a high volume of withdrawals from its branches by banks and panic withdrawals by customers from ATMs.

 

The CBN also said there was sufficient stock of currency notes for economic activities in Nigeria and assured its branches across the country were working to ensure seamless cash circulation in their respective states of operation.

While the scarcity persisted, the apex bank, on December 13, blamed the situation on hoarding, stating most of the cash given to banks was in the hands of individuals.

A year before, the CBN had attempted to limit cash circulation by implementing a cap on ATM withdrawals, to encourage cashless transactions.


The CBN reduced ATM withdrawals on December 6, 2022, to N20,000 daily and N100,000 per week. However, on December 21 of the same year, the regulator reviewed the cash withdrawal limits across all channels to N500,000 and N5,000,000 per week for individual and corporate organisations, respectively — after a public outburst.

This took effect on January 9, 2023.

However, recent findings across various locations in Lagos showed that banks have restored limits on ATM withdrawals.

TheCable understands that the cap set on account holders also restricts the customers to a certain amount should they attempt to withdraw from a different bank.

 

BANKS’ NEW DAILY ATM WITHDRAWAL LIMITS

At three Guaranty Trust Bank (GTB) branches located in Ogba, Egbeda, and Fagba in Lagos state, the company’s account holders are only allowed to withdraw N20,000 per day at the ATM, while it dispenses a maximum of N5,000 to non-customers daily.

However, another GTBank in Egbeda has a daily cap of N50,000 for customers and N20,000 for non-customers.

Also, Polaris Bank branches at Festac and Ikeja have N50,000 ATM withdrawal limit per day for the lender’s account holders — but non-customers can only withdraw N20,000 per day.

 

The limit is different for account holders of United Bank for Africa (UBA), as ATMs at the lender’s branches at Fagba and Ogba only dispense N20,000 and N60,000 to N100,000, respectively, whereas non-customers have a cap of N5,000 and N40,000 to N60,000, respectively.

At Union Bank branches in Ikeja, Ilupeju, and Berger, account holders can withdraw N20,000, N60,000 to N70,000, and N70,000 per day, respectively.

 

However, non-customers have a limit of N20,000 daily at Union Bank branches in Ikeja and Ilupeju, while they can withdraw up to N40,000 at the Berger office.

For Ecobank account holders, the maximum ATM withdrawal at its branches in Ogba and Berger is N400,000 and N40,000 per day, respectively, while non-customers can withdraw N20,000 daily.

 

Keystone Bank branches at Ilupeju, Ogba, and Allen set a limit of N40,000, N50,000, and N200,000 per day for account holders, respectively; while the ATM dispenses N20,000, N30,000, and N100,000, (respectively) to non-customers.

The withdrawal limit for Zenith Bank account holders is N100,000 per day at ATMs located at the company’s branches in Aguda and Festac, but non-customers can only withdraw N30,000 and N50,000, respectively.

 

At its branches in Allen and Akowonjo, First City Monument Bank (FCMB) has an ATM withdrawal cap of N40,000 for account holders, while N20,000 is dispensed to non-customers per day.

Also, Sterling Bank branches at Ilupeju and Allen have a limit of N50,000 for account holders, but the maximum non-customers can withdraw are N25,000 and N50,000, respectively.

Access Bank also has a limit on ATM withdrawals, as the company’s branches in Allen and Ogba offer N40,000 per day to account holders, but dispense N20,000 to N25,000 to non-customers.

Checks at Fidelity Bank’s branches in Ilupeju and Aguda showed account holders can withdraw a maximum of N40,000 — but for non-customers at the Ilupeju office, the amount depends on the bank they are using, while for the Aguda branch, non-customers can withdraw N20,000 or until they can no longer take out funds from the ATM.

First Bank of Nigeria (FBN) also limited account holders’ ATM withdrawals to N40,000 daily, according to findings at its branches in Allen and Berger.

Although non-customers can withdraw N20,000 at FBN’s Allen office, withdrawal at the Berger branch depends on the bank used by non-customers.

For Globus Bank account holders, ATMs at the company’s branches in Ilupeju and Allen have a limit of N150,000 per day, however, non-customers withdrawal limit also depends on their banks.

Providus Bank branches in Allen and Adeola Odeku offer account holders a maximum of N100,000 and N150,000 (respectively) per day, with the ATMs dispensing N20,000 to non-customers daily.

However, account holders of Premium Trust Bank can withdraw N40,000 daily at the company’s ATMs in Allen and Adeola Hopewell branches but non-customers are only able to withdraw N10,000 and N40,000 to N50,000 per day, respectively.

At Allen and Mowe (Ogun state), ATMs in Unity Bank branches dispense N40,000 per day to account holders and non-customers.

But at Parallex Bank in Adeola Hopewell, the ATM withdrawal limit for account holders is N100,000, while that of non-customers depends on their banks.

Heritage Bank in Ilupeju has a cap of N150,000-N200,000 per day for account holders, but non-customers cannot withdraw more than N40,000 daily.

Also, findings at Suntrust Bank, located in Sanusi Fafunwa, showed account holders are limited to N20,000 a day and non-customers can withdraw N20,000-N30,000 daily.

At Titan Trust Bank in Egbeda, both account holders and non-customers are unable to withdraw more than N20,000 per day.

It is different at Stanbic IBTC in Computer Village and Ogba, where ATM withdrawal for account holders is capped at N80,000 to N100,000 daily.

However, non-customers can withdraw N40,000 daily at the Computer Village branch, while they can withdraw until they are unable to at the Ogba office.

TheCable also learnt that ATMs at Wema Bank branches in Oba Akran and Ojodu are dispensing N40,000 to account holders daily, but non-customers limit depends on their banks.

WHY BANKS ARE SETTING LIMITS TO ATM WITHDRAWAL

In a notice to customers, seen by TheCable, Stanbic IBTC Bank advised withdrawals should be limited to one bank card per transaction when using the company’s ATM to avoid cash shortage.

In the statement, pasted at its ATM gallery, Stanbic IBTC said cash shortage occurs when individuals use multiple cards from different banks in a single ATM transaction.

“To ensure uninterrupted access to cash withdrawals through our Automated Teller Machines (ATMs), we kindly request that you limit your withdrawals to one bank card per transaction when using our ATMs,” Stanbic IBTC said.

“This measure aims to prevent instances of cash shortages that may occur when individuals use multiple cards from different banks in a single ATM transaction, surpassing the maximum daily withdrawal limit per individual. This practice may inadvertently restrict other customers’ access to cash.”

Also, a top official in the banking industry — with knowledge of the withdrawal limits adopted by the banks — said financial technology (Fintechs) firms are one of the reasons banks are limiting withdrawal at their ATMs.

Speaking on condition of anonymity, he said fintech companies have no ATMs but offer their customers debit cards to withdraw all the cash from banks’ ATMs.

“They give cards to people. Most of the people that are doing POS, they go to commercial banks to go and clean out all the money in their ATMs, denying the real customers of the banks to have access to the cash that are in the ATM,” he said.

The source told TheCable point of sale (POS) operators thereafter charge bank customers in need of the cash POS operators withdrew from the ATMs.

He said banks had to become creative to tackle the issue.

In a statement shared with TheCable, Access Bank said every bank “sets ATM withdrawal limits based on available ‘ATM fit’ cash and the number of ATMs for the bank as well as the needs of the customers”.

Commenting on the disparity in limit for its account holders and non-customers, Access Bank said the former are prioritised.

“It is important for us to give priority to our customers cash need; we owe them that duty. Subject to cash availability we can allow other banks’ card holders to also access cash,” Access Bank said.

“Every bank issuing cards is expected to also deploy ATMs to match the need of her customers.”

When asked if the CBN approved the limit, Access Bank said every financial institution has the right to set its withdrawal cap which may change from time to time subject to cash availability, among other things.

However, Access Bank acknowledged CBN had issued a directive that the maximum cash withdrawal limit on all channels is N500,000 weekly for individuals.

Meanwhile, the ATM withdrawal restrictions — as observed by TheCable — violate the limits set by Nigeria’s financial regulator.

When contacted on February 12, Hakama Sidi Ali, CBN’s acting director of corporate communications, requested the enquiry be sent to her WhatsApp. The following day, she asked for the locations of the banks for an independent investigation.

Since the disclosure of the banks’ locations, CBN has not responded to questions on the matter despite several calls, and WhatsApp messages to the regulator’s spokesperson.

Some residents of Akure, the Ondo state capital, have looted a truck conveying food items.

TheCable understands that the truck developed a mechanical fault at the popular cultural centre junction, along Ondo-Akure expressway, on Monday.

The mechanical fault enabled the residents to overpower the driver and loot the truck.

It was observed that the food bags in the truck were branded in the name of President Bola Tinubu.

Those who looted the truck were petty traders, artisans, drivers and commercial motorcyclists.

The latest incident adds to the worrisome list of recent looting of food items in trucks and warehouses amid the current economic hardship in the country.

On Saturday, residents of Kebbi invaded a government warehouse in the Bayan Kara area of the state capital, and looted food items.

On March 1, a truck conveying cartons of spaghetti was looted by hoodlums at Dogarawa axis of Zaria-Kano expressway.

Two days later, some residents broke into the federal capital territory (FCT) warehouse in Abuja and carted away foodstuffs, doors of the warehouse and roofing.

Nnaemeka Obiaraeri, a respected development economist, has voiced strong criticism against the Minister of Agriculture’s recent proposal to import 10,000 tractors, echoing concerns previously raised during the administration of former President Muhammadu Buhari in 2019.

Obiaraeri emphasized that the current proposal, which is projected to incur a hefty $1.1 billion expense through a public sector arrangement, signifies a repetition of the same error witnessed during Buhari’s tenure.

In an interview with Channels TV on Tuesday, Obiaraeri advocated for a more cost-effective strategy, suggesting allocating $750 million towards the importation of both tractors and bulldozers.

Reflecting on past decisions, he remarked, “Back in 2019, when the Buhari administration proposed borrowing $1.1 billion for importing 10,000 tractors…”

He continued, expressing concern about the Minister of Agriculture’s actions, stating, “The current administration is following in the footsteps of the Buhari government, pursuing a memorandum of understanding to import 10,000 tractors under a public sector arrangement, all at the expense of $1.1 billion.”


“Does it strike you as reasonable that we could achieve the same goal with a budget of $750 million, encompassing both tractors and bulldozers?” he questioned, highlighting apparent discrepancies in expenditure.

Obiaraeri outlined an alternative framework, envisioning the establishment of agro clusters across Nigeria’s 8,000 electoral wards, managed by skilled mechanical engineers.

Within these clusters, farmers would have access to machinery at an affordable average cost of N40,000, fostering economic growth and job creation.

He concluded with a poignant observation, “The repetition of past mistakes, as witnessed under the Buhari regime, raises serious questions about the priorities of our current administration.”