News
NIM urges FG to implement measures that will cushion effects of fuel price hike
By Francesca Hangeior
The Nigerian Institute of Management has urged the Federal Government to take urgent steps to forestall economic hardship occasioned by the recent increase in the pump price of petrol.
The President of NIM, Dr Christiana Atako, made the call in a statement by the institute’s registrar, Mrs Taiwo Olusesi on Saturday in Lagos.
Atako said that it was important to mitigate the harsh effects of the latest increase in the price of fuel on both the economy and Nigerians.
She said that the long fuel queues that resurfaced in various cities had attendant consequences on Nigerians whose cost of living was shrinking by the day.
“The Institute supports the current efforts by the Federal Government to kick-start the nation’s weak economy and put it on a good footing.
“However, NIM is an organisation committed to promoting good governance and sound management practices.
“We believe that government should do everything within its power to give the nation’s economic policies a human face,” she said.
The NIM president urged the Federal Government to continue working with the greater interest of Nigerians at heart by taking more proactive measures to impact the welfare of the citizenry.
She called on government to, especially, address fuel scarcity, the hunger in the land, as well as tackle the myriad of economic issues facing the country.
“The Institute concedes that the decision to remove fuel subsidy has come with some pains,.
“It is, however, a necessary step towards the nation’s economic stability as it will help to curb the mismanagement of scarce resources.
“It will also reduce corruption in the oil sector, and ensure that the benefits of government spending are felt by all Nigerians.
“Since the removal of subsidy is a difficult decision with significant impact on the masses, it is essential that the Federal Government implements measures to mitigate its effects,” she said.
Atako suggested measures like providing a safety tax net for those who would be most impacted by the subsidy removal, greater government intervention in agricultural produce, public transportation and youth employment programmes.
She also enjoined Nigerians to be patient with the Federal Government, and called for more understanding.
She said that the NIM believed that the nation would soon turn the bend and start reaping the benefits of the present sacrifices.
The Economic and Financial Crimes Commission, EFCC, has nabbed a renowned business executive and socialite, Aisha Sulaiman Achimugu.
Her legal team made this known in a statement on Tuesday, emphasizing that Achimugu, who arrived voluntarily into the country from London, was arrested around 5 a.m. on Tuesday.
Meanwhile, her lawyer had reportedly told the Federal High Court in Abuja that she had already stated in her court documents that she would visit the EFCC today in connection with its ongoing investigation into an alleged case of criminal conspiracy and money laundering.
Justice Inyang Ekwo of the Federal High Court, Abuja, ordered Achimugu to appear before the Economic and Financial Crimes Commission, EFCC, on Tuesday, April 29, 2025, to respond to allegations related to an ongoing investigation.
The court also directed that she must be present before it on Wednesday, April 30, 2025, to continue proceedings in the matter.
The Chairman of Ward 1 of the Labour Party (LP) in Akoko-Edo Local Government Area of Edo State, Okasime Olowojoba, has been kidnapped while traveling along the Auchi-Benin-Ibillo Road.
The incident occurred on Saturday near Sasaro, a location notorious for frequent cases of abduction. Olowojoba, who also works as a realtor, was reportedly returning to Igarra after visiting Auchi to pick up his children following their holiday break.
According to reports, the assailants initially seized everyone in the vehicle — Olowojoba, his children, and a house help — but later freed the children and the domestic aide, taking only Olowojoba deep into the forest.
A family member speaking with Vanguard on Monday revealed that the kidnappers are demanding a ransom of N50 million for his release.
The source explained, “Valentine Okasime Olowojoba was returning with his children when he was ambushed and kidnapped around Sasaro. The lack of network service throughout Saturday delayed any contact with the kidnappers until Sunday afternoon.”
“The attackers abandoned the vehicle at the scene and took him away. His brother later confirmed that a N50 million ransom has been demanded. We also heard reports of additional abductions in the same area on Sunday,” the source added.
Efforts to reach the Edo State Police spokesperson, Moses Yamu, for confirmation were unsuccessful, as calls to his phone went unanswered.
Vanguard
Justice Inyang Edem Ekwo of the Federal High Court in Abuja has struck out a N1 billion suit instituted against former President Muhammadu Buhari and former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele over the hardships that trailed the 2023 Naira redesign policy.
The judge threw out the suit instituted by an Abuja based legal practitioner, Uthman Isa Tochukwu on the grounds of lack of diligent prosecution of the case.
In a ruling on Monday, Justice Ekwo said that he was convinced that the plaintiff had deliberately abandoned his own case due to his persistent absence in court without legal representation and any explanation.
The plaintiff in the suit marked FHC/ABJ/CS/418/2023 had dragged the former President, Attorney General of the Federation, former governor of the CBN, CBN and two commercial banks before the court claiming that they inflicted series of hardships on him during the redesign of the Naira.
In the suit filed on his behalf by his counsel, Bala Dakum, the plaintiff alleged that his fundamental rights to freedom of movement and dignity of his person were violently breached.
Specifically, the legal practitioner claimed his movement was curtailed while his money in the two commercial banks could not be assessed during the hardship occasioned by the redesign of the Naira in January and March 2023.
He therefore prayed the court to award N1 billion damages against the defendants to be paid to him for the breach of his fundamental rights.
However, at Monday’s proceedings, both the plaintiff and his counsel were not in court and did not offer any excuse for their absence.
Counsel to the 3rd and 4th defendants (Emefiele and CBN) Mr Chikelue Amasiani drew the attention of Justice Ekwo to the persistent absence of the plaintiff and his counsel in court during past proceedings.
He prayed the judge to strike out the suit and that the plaintiff can come back to revive the case when ready to show seriousness.
In a brief ruling, Justice Ekwo agreed with the lawyer and struck out the suit.
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