Author: Platform Times Newspaper

Daud Olatunji Financial institutions in Nigeria faced a hefty sum of fines in 2023, with nine prominent banks collectively paying N678 million for flouting regulations, according to an analysis of their annual reports.  This figure marked a significant decrease of 89.25 percent from the N6.31 billion penalties imposed in 2022, indicating a trend towards enhanced regulatory compliance within the industry. The banks subjected to scrutiny included FBN Holdings, Access Holdings, Guaranty Trust Holding Company, Zenith Bank Plc, United Bank for Africa Plc, Fidelity Bank, Wema Bank, Stanbic IBTC Holdings, and FCMB Group. Regulatory bodies such as the Central Bank of…

Not less than eight leading Nigerian manufacturers, including industry giants Dangote, BUA, and Lafarge, have reported significant foreign exchange (forex) losses totaling N627.7 billion in the first quarter of 2024.  This stark revelation comes from an analysis of the financial statements of these firms, which were published on the Nigerian Exchange Limited. The affected companies span a range of sectors, including cement production, food and beverages, and consumer goods.  The listed firms are Lafarge Africa Plc, BUA Foods, Nestle Nigeria, BUA Cement, Dangote Sugar, International Breweries, Nigerian Breweries, and Dangote Cement.  PLATFORM TIMES reports that each of these manufacturers has…

In a recently released report by Citizens’ Gavel, the Nigerian judiciary has been critically assessed and found wanting in terms of credibility, primarily due to pervasive corruption.  The report, entitled Assessing Judicial Integrity, Challenges and Recommendations for Reforms in Nigeria, highlights significant concerns over the integrity and fairness of the judicial system. The comprehensive survey, conducted by Olanipekun Nelson, Atiku Samuel, Ajibade Oluwafemi, Ariyo Mofolarin ‘Tosin, Isaac Sylvester Agih, and Marvelous Monday, was released over the weekend in Abuja.  It presents a sobering picture of the judiciary, based on an online opinion poll that gathered responses from 119 Nigerian citizens.…

The President of the Synod and Bishop of Yewa, Rt. Rev. Ayo Adeniyi, has called on the Ogun State Governor, Prince Dapo Abiodun, to prioritize the enhancement of infrastructure, social amenities, health services, food security, and the overall safety of the state.  This appeal was made during the second Synod of the Methodist Church Nigeria, Diocese of Yewa, which concluded its annual session on Sunday, May 19, 2024, at the Methodist Church Nigeria in Igbogila, Yewa-North, Ogun State. In his address, Bishop Adeniyi highlighted the dire state of roads in Yewa land, urging immediate government intervention to improve the region’s…

The Nigerian Army announced that its troops, in collaboration with the Hybrid Force and the Civilian Joint Task Force, killed seven terrorists in Borno State on Saturday.  The operations were part of ongoing counter-terrorism efforts in the North East region. According to a statement from the military, the troops received credible intelligence about the movement of terrorists planning a nefarious mission.  Acting on this information, the troops laid an ambush around the Lawanti area, resulting in a firefight that neutralized six terrorists.  After overpowering the terrorists, the troops recovered a General Purpose Machine Gun (GPMG) and 40 rounds of 7.62…

The National Drug Law Enforcement Agency (NDLEA) has arrested a 70-year-old man, Adamu Mohammed, in Mbulamel, Biu Local Government Area of Borno State, for allegedly dealing in illicit drugs.  This arrest is part of a broader crackdown on drug trafficking and related offenses across Nigeria. In a statement issued on Sunday, NDLEA spokesperson Femi Babafemi detailed the agency’s recent operations.  One significant bust involved the interception of China and UK-bound consignments concealed in steel bolts and shea butter in Lagos.  The NDLEA’s Directorate of Operations and General Investigations (DOGI), attached to a courier firm, discovered two parcels containing cocaine and…

The German Ambassador to Nigeria, Mrs Annett Gunther, says there are no less than four thousand Nigerians schooling and working in Germany. Gunther made this known in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja. According to her, the German Academic Exchange Service gives out not less than 1000 scholarships yearly. She said that the German government was working on improving visa approvals for intending Nigerian students to Germany. “At the moment, we have approximately 4000 Nigerian students in Germany, coming and going in and out of the country and, also…

The Akwa Ibom State Police Command has confirmed the abduction of HRM Ogwong A Abang, the paramount ruler of Mbo Local Government Area.  The traditional ruler was kidnapped by unidentified gunmen on Saturday night in his palace at Ebughu. ASP Timfon John, the Command’s Public Relations Officer, confirmed the incident on Sunday.  Speaking on the development, John assured the public that efforts are underway to secure the monarch’s release.  “We received the information yesterday (Saturday) and the police are working round the clock already to ensure that the monarch regains freedom,” he stated. The abduction reportedly took place around 9…

A football coach identified only as Adebisi has been arrested by operatives of the Department of State Security (DSS) on allegations of attempting to sodomize one of his players. PLATFORM TIMES reports that the  arrest, which occurred last Wednesday, was the result of a tip-off received by the DSS. The incident unfolded in the Isale Osun area of Osogbo, where Adebisi, who works with a local male football team, met the victim, identified simply as Michael, during a training session at Fakunle Comprehensive High School.  According to sources, Adebisi led Michael to a secluded spot within the school grounds and…

 Chief Mrs. Ayoka Adebayo, the former Resident Electoral Commissioner (REC) for Ekiti State under the Independent National Electoral Commission (INEC), has passed away at the age of 89.  Her death was confirmed on Saturday by Chief Hon. Johnson Olu Fatoki, the Oganla of Owu Kingdom. Chief Mrs. Adebayo was a distinguished figure known for her unwavering integrity and dedication to fair electoral practices.  During her tenure as REC in Ekiti State, she played a pivotal role in overseeing and ensuring transparent electoral processes, which garnered her widespread respect and admiration from colleagues and the public alike. Her tenure was marked…