Business

Illegal Revenue Collectors Arrested In Edo

Published

4 years ago

December 3, 2021

The Edo State Joint Security Operation, Wabaizigan and officials of the state’s Public Works Volunteers (PUWOV) have arrested three suspected illegal revenue collectors in Benin City, the Edo State capital.

This was made known in a Facebook post by the username Samson Mark.

In the post, it was said that state’s coordinator of PUWOV, Mukhtar Yusuf-Osagie, said the suspects were found with fake identification cards and receipts, as well as proceeds from the sales of revenue tickets.

The suspects include Austin Otunba and Bisi Adewunmi, who was arrested at Airport Road, and Mr. Friday Imade, arrested along Oba Market Road, by Oredo Secretariat, in Benin City.

Yusuf-Osagie noted that the arrest, in collaboration with other security agencies in the state, is part of efforts by the Governor Godwin Obaseki-led administration to rid the streets of Edo of extortionists and other criminal elements.

According to him, “PUWOV officials have apprehended one Friday Imade, a suspected illegal revenue collector, who has been extorting residents along Airport Road axis in Benin City.

“In the same vein, the state’s joint security operation, Wabaizigan arrested two other illegal revenue collectors along Oba Market Road, who were illegally selling tickets and extorting unsuspecting traders. The suspects have been handed over to the Police for further investigation and prosecution.”

Noting the government’s efforts at ending all forms of extortion and multiple taxations across the state, the PUWOV coordinator said, “The Edo State Government is committed to apprehending all illegal ticket racketeers and other illegal revenue collectors. Governor Obaseki is very involved and will never support oppression or exploitation of Edo citizens.”

Business

NNPCL Increases Fuel Price

Published

3 days ago

August 5, 2025

Editor

The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of premium motor spirit across its retail outlets.

It was gathered that NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890.

This is the case in NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of Abuja.

Similarly, the pump price hike has been implemented at filling stations in Kogi and Nasarawa.

This means that the petrol pump price was increased by N65.

This comes after independent petroleum product marketers and filling station owners in Abuja increased petrol pump prices to between N950 and N971 per litre at the weekend. Their decision followed an upward review of the ex-depot petrol price by Dangote Refinery to N858 per litre, up from N820.

Business

Naira Appreciates Against Dollar As External Reserves Swell

Published

3 days ago

August 5, 2025

Editor

The naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a bullish note amid swelling external reserves.

According to the Central Bank of Nigeria’s exchange data, the naira appreciated to N1,531.95 against the dollar on Monday from N1,533.74 traded last week Friday.

This showed that the Naira strengthened by N1.79 when compared to the N1,533.74 exchanged at the close of work last week.

Meanwhile, at the black market, the naira remained stable at N1560 per litre, the same exchange rate traded on Friday.

The development comes as Nigeria’s external reserves had maintained a modest rise to $39.54 billion as of August 1st, 2025, up from $39.36 billion on July 30th.

Business

Naira Continues To Appreciate Against Dollar On Official Market

Published

6 days ago

August 1, 2025

Editor

The naira continued its appreciation against the dollar at the foreign exchange market on Tuesday.

Accordingly, the naira strengthened further to N1,533.18 against the dollar on Tuesday, from N1,534.21 traded the previous day.

This represents a gain of N1.03 against the dollar on a day-to-day basis and marks the second consecutive day of appreciation at the official FX market.

Meanwhile, on the black market, the naira depreciated further to N1,545 per dollar on Tuesday from N1,537 traded on Monday.

Recall that the naira had similarly closed Monday’s trading session with mixed sentiments, recording gains at the official market but depreciating at the parallel market.