Day: 17 November 2023

Ex-CBN Gov. Emefiele remanded in Kune prison

Wura Kelani, Crime Reporter

Justice Hamza Muazu of the High Court of the Federal Capital Territory, FCT, Abuja, has ordered that the former Governor of the Central Bank of Nigeria CBN, Godwin Emefiele, be remanded in Kuje prison pending the determination of his request for bail. Emefiele will remain in prison until November 22, when the court will deliver a ruling on his bail motion. His lead counsel, Mathew Burkaa SAN, moved the application for bail which Rotimi Oyedepo vehemently opposed on behalf of the Federal Government. After taking arguments for and against the…

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Appeal Court upholds tribunal judgment, sacks Kano governor

Jide Ige

The Court of Appeal sitting in Abuja has sacked Governor Abba Kabir Yusuf of Kano State. The panel upheld the verdict of the tribunal led by Justice Oluyemi Akintan Osadebay which sacked Yusuf on September 20, 2023 The lower court had declared 165,663 votes of Yusuf, who contested under the New Nigerian Peoples Party (NNPP), invalid on the grounds that they were not signed or stamped by the Independent National Electoral Commission (INEC). The governor’s votes were then reduced to 853,939 while those of Nasir Ganuwa, his All Progressives Congress…

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Breaking: SEC halts trading of Tingo Group shares to protect investors

Jide Ige

America’s Securities and Exchange Commission (SEC) has suspended trading activity for Tingo Group on the stock exchange. Tingo is a Nigeria-focused agriculture company that claims to provide a marketplace and payment services for farmers in the country. The self-described “agri-fintech” company is listed on the NASDAQ, which requires it to comply with US regulations and corporate governance standards. However, Tingo has been the subject of controversy following a June 2023 report by Hindenburg Research alleging its business in Nigeria is a fraud. Hindenburg Research is an American short-seller that bets…

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