Author: Newsjaunts

In recent developments, the Council of Maritime Transport Unions and Associations (COMTUA) has encountered a dispute with some of its founding unions. The Maritime Workers’ Union of Nigeria (MWUN), Container Truck Owners Association of Nigeria (COTOAN), and the Nigerian Association of Road Transport Owners (NARTO) previously resigned from the collaboration, only to later claim that they have dissolved it. However, COMTUA declares their actions null and void.COMTUA, established through the collective efforts of multiple unions, aimed to represent the interests of maritime transport owners and operators. The collaboration’s success relied on the seamless cooperation and dedication of these founding unions.…

The Competition and Consumer Protection Tribunal (CCPT) sitting in Abuja on Thursday imposed a fine of N120 million against Stanbic IBTC Bank over the bank’s failure to complete a transfer request for a customer.In a split decision of two to one, the tribunal convicted the bank for contravening the provisions of Section 130(1)(a) of the FCCP Act, 2018 and Section 5(2)(8) and (9) of the Central Bank of Nigeria Regulation on Instant Interbank Electronic Transfers.The tribunal said the fine was imposed due to the bank’s failure to comply with the 10 minutes or at most one hour mandatory timeline for…

Lagos, Nigeria – The Financial Technology Report, a global media authority in the fintech industry, has recognized the Interswitch Group Founder and CEO, Mitchell Elegbe, as one of the top Fintech CEOs for 2023, alongside other industry titans including Dan Schulman, CEO of PayPal, Ryan McInerney, CEO of Visa, and Michael Miebach, CEO of Mastercard. This distinctive achievement underscores Elegbe’s exceptional leadership and Interswitch Group’s ever-evolving and groundbreaking contributions to the revolutionisation of the financial technology landscape in Nigeria and Africa. The report recognises esteemed leaders whose roles in the financial technology space, both regionally and globally, continue to redefine…

Battle Of The African Billionaire: South African Johan Rupert Maintains Position As Africa’s Richest In Latest Ranking South Africa’s Johann Rupert maintains position as Africa’s Richest over Nigeria’s Aliko Dangote on Forbes Realtime Billionaires Ranking (as at July 12, 2023)as Dangote, remains Africa’s second richest.In March 2023, Forbes released its annual ranking with Aliko Dangote as Africa’s richest; however, as of July 13, 2023, the global authoritative ranking has listed South African luxury goods magnate Johann Rupert, as Africa’s richest with a real-time net worth of 11.9billion as at July 12, 2023 vs Aliko Dangote’s Networth of $10.6 billion as at…

Sayedero Mini Tippers Drivers and Owners Association following a keenly contested election at Owode Yewa in Yewa South Local Government Area of Ogun State, where the initiative started. The election, which was witnessed by the Tipper/Lorries Drivers Association of Nigeria Owode Yewa Branch Vice President Alhaji Shakirulai Abololore, saw delegates from different zones casting their votes for their preferred candidate.The election was between Mr Fatai Alabi Aromire and Mr Sikiru Adebari Adegbola. Security officers were on ground to provide maximum security, and the election was adjudged fair and free by both contestants who agreed to work with whosoever emerges as…

The family of Isaac Atufe, CEO of Zeakers Automobiles, has issued a warning to existing and potential customers of the brand to cease any business transactions with him due to recent developments within the company. According to the family, they will not be held responsible for any further association with the brand going forward. This advice comes as a caveat emptor to members of the public who may be considering purchasing vehicles from Zeakers or engaging in any financial-related business with the CEO. Friday Atufe, patriarch of the family, signed the statement and urged the general public to take note of the…

Abuja, July 3, 2023 – Air Commodore Edward Gabkwet has officially assumed the position of Director of Public Relations and Information (DOPRI) of the Nigerian Air Force (NAF). The handover ceremony took place today at the NAF Headquarters in Abuja, where Air Commodore Gabkwet took over from Air Commodore Ayodele Famuyiwa.Air Commodore Gabkwet is no stranger to the role, having previously served as the DOPRI from March 9, 2021, to January 6, 2023. Prior to his reappointment, he held the position of Commander at the 551 NAF Station in Jos, Plateau State.The transition ceremony was brief but significant, marking the…

Dangote Refinery Rumors have been circulating that the Dangote Refinery, located in Nigeria, has not yet commenced work despite initial claims that it would begin operations in June 2023. The refinery was expected to play a significant role in reducing Nigeria’s dependence on crude oil imports and exports, which would have a positive impact on the country’s economy and energy sector.However, recent reports suggest that the refinery has not yet started operations and Nigeria is still importing and exporting crude oil. This development has raised questions about the accuracy of the initial claims made about the refinery, with many wondering whether…

Aliko Dangote, the visionary founder and chairman of Dangote Industries Limited, a leading conglomerate in Africa, has lost his long-held title as Africa’s richest man.Forbes, the prestigious business magazine, recently published an updated list of the world’s wealthiest billionaires, revealing that Dangote’s fortune plummeted by a staggering $3.4 billion in a single day due to the recent devaluation of the Nigerian naira against the U.S. dollar.This sharp drop has pushed him down from his long-standing spot atop Forbes’ list, making way for South African billionaire Johann Rupert, who now claims the throne with an impressive fortune of $12 billion.For years,…

Beneficiaries Ondo State, Nigeria – The Kemisola Akintade Grace of God Foundation, a renowned international non-profit organization, celebrated and expressed gratitude towards the teachers at Lena-Mae Kiddies Academy on Thursday, June 1, 2023. The foundation, dedicated to assisting the elderly, widows, widowers, children, and providing financial support to start-up businesses, hosted a special event to commend the teachers for their outstanding commitment to education.The Head Mistress of Lena-Mae Kiddies Academy, speaking on behalf of the beneficiaries, expressed deep gratitude for the foundation’s generosity and support. “Words alone cannot adequately express our appreciation for the love and care shown by the Kemisola…