251112F4.DSTV-Logo

Court Upholds Dstv’s 20 % Increment On Subscription

A Federal High Court, Lagos, on Thursday said that Digital Satellite Television (DStv) had the right to increase its subscription rate as it did last month. Justice Chukwujekwu Aneke then struck out a suit filed by some aggrieved subscribers challenging the company’s recent 20 per cent increment on subscription. DStv is being operated by Multi-Choice Nigeria Ltd.

power_transformer1 electricity power

Court Stops Proposed Tariff Hike By Electricity Firms

A Federal High Court in Lagos has barred the Nigerian Electricity Regulatory Commission from giving effect to its proposed increment in electricity tariff.

Justice Mohammed Idris made the order on Thursday after a Lagos-based lawyer, Mr. Toluwani Adebiyi, moved an ex parte application to that effect.

The Chairman of NERC, Dr. Sam Amadi, had, at a recent press conference in Abuja, disclosed the plan by the commission to implement an upward review of electricity tariff payable by Nigerians.

The proposed increment, Amadi said, was billed to commence from June 1,2015.

But Adebiyi, who claimed that the proposed increment would “foist further hardship on Nigerians,” had appeared in court on Thursday with a motion ex parte, praying the court to stop it.

Amadi, while canvassing argument before the court, contended that any increment in tarrif was unjustifiable in the face of poor or erratic supply of electricity by the distributing companies.

According to the lawyer, if the proposed increment is allowed, most electricity companies will retain the N750 fixed charge.

Justice Idris, after hearing the application, ordered that the status quo be maintained pending the determination of the substantive suit.

The judge ordered the plaintiff to serve the motion on notice and other processes in the suit on the NERC.

Justice Idris also granted leave to the applicant to serve the originating summons, the affidavit in support, list of exhibits and the written address on the defendant in Abuja, which is outside Lagos judicial division of the Federal High Court.

The judge also adjourned the suit to June 11, 2015 for hearing.

In the main suit, the plaintiff is seeking an order restraining the NERC from implementing any upward review of electricity tariff without a meaningful and significant improvement in power supply at least for 18 hours in a day in most communities in Nigerian.

Punch

buhari-2

Jonathan’s Telephone Call Changed Course Of Our Political History – Buhari.

President elect, Muhammadu Buhari Thursday acknowledged that President Goodluck Jonathan would have made things difficult for the country if had decided to use his power of incumbency to scuttle the electoral process.

Buhari-and-Jonathan1-360x225

Jonathan Presents Handover Notes To Buhari

President Goodluck Jonathan on Thursday formally presented his hand over notes to the President-elect, Muhammadu Buhari.

Ngozi-Okonjo-Iweala

Oshiomhole’s Allegation Of Mismanagement Ridiculous – Okonjo-Iweala

The Minister of Finance, Dr Ngozi Okonjo-Iweala, on Thursday said the economy under her watch has been well managed, contrary to allegations made by the Governor of Edo State, Adams Oshiomhole, that the minister has mismanaged the Excess Crude Account.

Kashamu-360x225

NDLEA Refuses To Vacate Kashamu’s Home

The National Drug Law Enforcement Agency on Thursday, beefed up its presence around the Lekki, Lagos residence of the embattled Senator-elect for Ogun East Senatorial District, Buruji Kashamu‎, despite its promise on Wednesday to obey the court order, ordering the agency to vacate the place.

real-madrid-press-conference

Carlo Ancelotti Wants Liverpool Job

Carlo Ancelotti would be willing to replace Brendan Rodgers as Liverpool’s new manager this summer.

michel-platini-18022015_ef50s9d4d4ec1bqf7fofex46r

Platini: I Asked Blatter To Stand Down As Fifa President

A tearful Michel Platini has revealed that he begged Sepp Blatter to stand down as Fifa president.

apple

Apple Finds Bug That Causes Iphones To Crash

Apple Inc has found a bug which can cause iPhones to crash when a message containing a specific string of text is received.

UBA-Headquarters

UBA’s Share Price Can Still Rise By 82%

Investors looking for substantial returns on their portfolios over the next 12 months should include United Bank for Africa (UBA) in their stock selections, an international investment and finance firm has said.

Skye Bank Plc

Skye Bank to Access Market for N30 Billion Tier 1 Capital

The Group Managing Director/Chief Executive Officer of Skye Bank Plc, Mr. Timothy Oguntayo yesterday said the bank would access the capital market to raise additional tier one capital of N30 billion in the third quarter of 2015.

NSE

NSE Index Up 0.16% As Pharma Deko Offer Records 77% Subscription

The bulls were the winner on the local bourse on Wednesday as trading sustained the rebound witnessed on Tuesday as the twin market indicators–the All-Share Index and market capitalisation closed higher at 0.16 percent each.

2308F01.Bisi-Onasanya

Onasanya Set to Retire As First Bank GMD/CEO

The Group Managing Director/Chief Executive Officer, FirstBank of Nigeria Limited, Mr. Bisi Onasanya, will step down from his position by the end of this year.

nupeng

NUPENG Shuts Down Halliburton Operation Over Job Cuts

Nigeria’s main oil union has shut down the local operations of the United States oilfield services provider, Halliburton Co. in protest against job cuts, the trade body told Reuters on Tuesday.

akinwunmi-adesina-620x350

AfDB Screens Adesina, Seven Others As Election Holds Today

Ahead of the African Development Bank (AfDB) presidential election which holds today, the eight candidates in the race met with the Board of Governors on Wednesday at the ongoing bank’s 50th Annual Meetings in Abidjan, Côte d’Ivoire.