News
FG Vows Clampdown On Traders Inflating Price Of Commodities

The President Bola Ahmed Tinubu’s led administration has vowed to clampdown on traders, responsible for hiking the price of goods and commodities.
The government, through its agency, the Federal Competition and Consumer Protection Commission, expressed displeasure, stating that despite the recent appreciation of the Naira against the dollar, consumers continue to face escalating costs without a corresponding decrease in prices of goods and commodities.
This was contained in a statement released by the commission’s chief, Adamu Abdullahi, on Wednesday.
Adamu added that the commission has been directed to intensify monitoring of both formal and informal markets, where businesses may be taking advantage of market conditions to unfairly inflate prices, and ramp up enforcement activities.
He said: “This situation is unacceptable, and the FCCPC is committed to protecting consumers from exploitation.
“The FCCPC understands the significant financial strain these rising prices are placing on Nigerian households. As a result, the Commission is taking proactive steps to address this issue.
“While the FCCPC cannot directly regulate prices, the Commission will utilise its existing legal framework to enforce fair competition and consumer protection provisions.
“This includes monitoring and investigating unusual price hikes, addressing complaints filed by consumers, and taking action against any businesses found to be engaging in anti-competitive practices such as price-fixing, price gouging or cartel formation.”
“The operatives will be working collaboratively with trade associations, farmer groups, and other stakeholders to identify and remove unnecessary barriers to entry in various sectors, combat price-fixing, and dismantle cartels. This will encourage increased competition, ultimately leading to lower prices for consumers.”
News
Multiple video evidence against Nnamdi Kanu

The Federal High Court in Abuja on Wednesday, admitted a video recording allegedly showing the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu issuing inflammatory directives which the prosecution claims incited acts of terrorism across the South – East region of the country.
The Wednesday proceedings resumed with the continuation of the testimony of the second Prosecution witness, an operative of Department of State Services (DSS) codenamed PWBBB.
In the video played in open court, Kanu was seen addressing his followers in what he called, “the blessed land of Biafra”, wherein he announced the formation of the Eastern Security Network (ESN), urging followers to defend their land against what he referred to as “Fulani domination.”
He warned political leaders in the region against compromises and issued a directive forbidding the presence of fulani herdsmen, saying, “No Fulani parading as herdsman shall be allowed in our land. If you are an agent of the Fulani, turn your way this evening.”
The device was admitted as evidence alongside a certificate of compliance, despite objections from the defence.
They were marked as Exhibits PWA and PW1, respectively.
The court also admitted a letter dated June 17, 2021, authored by the former Attorney General of the Federation, Abubakar Malami, SAN, which accused Kanu of terrorism, murder, and incitement to violence.
The letter, addressed to the DSS, was tendered without objection and marked as Exhibit PWF.
Reading from the document, the witness, who was led in evidence by the prosecuting counsel, Chief Adegboyega Awomolo, SAN alleged that Kanu’s broadcasts were followed by coordinated attacks on police stations and correctional facilities, resulting in loss of lives and property.
He quoted the petition as saying Kanu had instructed that security operatives be “brought down” and their weapons seized.
News
Just in: Security and Exchange Commission declares PWAN as PONZI scheme, cautions Nigerians

Securities and Exchange Commission (SEC) has alerted the public on the activities of Property World Africa Network (PWAN), which holds itself out as a real estate investment company and solicits funds from the public for investment purposes through PWAN MAX.
In a statement on Tuesday, the SEC said PWAN/PWAN MAX are not registered either to solicit investments from the public or operate in any other capacity within the Nigerian capital market.
The SEC said investigations revealed that PWAN’s operations exhibit the typical indicators of a fraudulent Ponzi scheme, including the promise of unusually high returns and failure to honour withdrawal requests from subscribers.
“Accordingly, the public is strongly advised to be wary about investing with PWAN/PWAN MAX, as any person who places such investment with these entities, does so at his/her own risk.
“The commission similarly reminds potential investors of the need to verify the registration status of investment platforms via the commission’s dedicated portal: www.sec.gov.ng/cmos before transacting with them,” the SEC said.
(The Guardian)
News
Canada is not for sale, Carney tells Trump

Canadian Prime Minister Mark Carney told US President Donald Trump that his country was “never for sale” Tuesday as they met at the White House amid tensions on tariffs and sovereignty.
In their first Oval Office meeting, Trump insisted to the recently elected Carney that it would be a “wonderful marriage” if Canada agreed to his repeated calls to become the 51st US state.
But despite Trump’s claims of friendly relations, the body language became increasingly tense between the 78-year-old Republican and the 60-year-old Canadian leader.
“As you know from real estate, there are some places that are never for sale,” Carney told property tycoon Trump, comparing Canada to the Oval Office itself and to Britain’s Buckingham Palace.
“Having met with the owners of Canada over the course of the campaign in the last several months, it’s not for sale. It won’t be for sale, ever.”
Trump then replied: “Never say never.”
Carney won the Canadian election of April 28 on a pledge to stand up to Trump, warning that ties between the North American neighbors could never be the same.
Trump has sparked a major trade war with Canada with his tariffs while repeatedly making extraordinary calls for the key NATO ally and major trading partner to become part of the United States.
Despite that, the two leaders began their meeting with warm words towards each other.
Twice-elected Trump hailed Carney, whose Liberal Party surged from behind to win the election, for “one of the greatest comebacks in the history of politics, maybe even greater than mine.”
But while they expressed a willingness to work towards a trade deal to end the tariffs, it became clear that common ground would be hard to find.
‘Little blow-up’
Carney at points gripped his hands tightly together and his knee jiggled up and down while Trump spoke.
No. It’s just the way it is,” Trump said when asked if there was anything Carney could say in the meeting that would persuade him to drop car tariffs in particular.
And when the US president pressed his claim that Canadians might one day want to join the United States, Carney raised his hand and pushed back.
Respectfully, Canadians’ view on this is not going to change on the 51st state,” said Carney.
A visibly tense Trump then referenced his blazing Oval Office row with Ukrainian President Volodymyr Zelensky in February — if only to insist that there would be no repeat.
“We had another little blow-up with somebody else, that was much different — this is a very friendly conversation,” Trump said.
Carney gave a thumbs up to reporters as he left the White House after just over two hours. He is due to give a press conference at 3pm (1900 GMT).
The meeting was highly anticipated after a Canadian election during which Carney vowed that the United States would never “own us.”
Carney has since vowed to remake NATO member Canada’s ties with the United States in perhaps its biggest political and economic shift since World War II.
Trump has slapped general tariffs of 25 percent on Canada and Mexico and sector-specific levies on autos, some of which have been suspended pending negotiations. He has imposed similar duties on steel and aluminum.
‘Important moment’
The US president inserted himself into Canada’s election early on by calling on Canada to avoid tariffs by becoming the “cherished 51st state.”
Pierre Poilievre’s Conservative Party had been on track to win the vote but Trump’s attacks, combined with the departure of unpopular premier Justin Trudeau, transformed the race.
Carney, who replaced Trudeau as prime minister in March, convinced voters that his experience managing economic crises made him the ideal candidate to defy Trump.
The political newcomer previously served as governor of the Bank of Canada and the Bank of England, and in the latter post he played a key role reassuring markets after the 2016 Brexit vote.
Carney is known for weighing his words carefully but still faced a challenge dealing with the confrontational Trump on the US president’s home turf.
“This is a very important moment for him, since he insisted during the campaign that he could take on Mr Trump,” Genevieve Tellier, a political scientist at the University of Ottawa, told AFP.
One point in Carney’s favor is that he is not Trudeau, the slick former prime minister whom Trump famously loathed and belittled as “governor” of Canada, she added.
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