News
Nigeria’s inflation rate hits 32.7%
By Kayode Sanni-Arewa
The National Bureau of Statistics (NBS) says the consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 32.7 percent in September.
This is the first increase in three months after the country’s inflation rate declined twice in 2024.
The latest inflation data is contained in the NBS CPI report for September, released on Tuesday.
More to follow…
THE CABLE
News
SAD: FCT commissioner of police loses son in car accident
By Francesca Hangeior
The Federal Capital Territory (FCT) Commissioner of Police has lost his son in a car accident that reportedly happened on Monday.
Although the circumstances surrounding the young man’s death remain unclear, family sources have described the loss as heartbreaking.
CP Disu was on a condolence visit to CSP A.A. Sambo, the Divisional Police Officer (DPO) of Ushafa Division, whose son had recently passed away when he received the news of his own son’s death.
News
6.4 magnitude earthquake rattles Taiwan, injures 27
By Francesca Hangeior
At least 27 people were reportedly wounded after a 6.4 magnitude earthquake has struck the south of Taiwan.
The country’s Central Weather Administration (CWA) said the quake had a depth of 9.4 kilometres (6 miles) with its epicentre in Dapu township in Chiayi county, and hit shortly after midnight on Tuesday.
The full extent of the damage is still being assessed. The main tremor was followed by several smaller quakes.
CWA said there have been dozens of aftershocks, including two with a magnitude of five or higher, mostly in Tainan, adjacent to Chiayi.
The National Fire Agency (NFA) added that several buildings in disaster-stricken areas of southern Tainan City collapsed, trapping some individuals who were later rescued.
The fire agency said 15 people were sent to hospital for minor injuries. Among them were six people, including one child, who were rescued from a collapsed building.
The NFA also reported cases of road and infrastructure damage, along with power outages impacting parts of the country.
Taiwan lies along the Pacific ‘Ring of Fire’, the line of seismic faults encircling the Pacific Ocean where most of the world’s earthquakes occur.
Last April, a 7.2-magnitude quake struck eastern Taiwan, claiming at least 18 lives and injuring more than 1,000 people.
News
Court orders immediate arrest of Access Bank’s Ag MD, others for theft, contempt
Justice Ibironke Harrison of the Lagos State High Court has ordered the arrest of Access Bank’s acting Managing Director, Bolaji Agbede and three others for allegedly failing to appear for arraignment.
Access Bank logo
The judge’s order also affected Balmoral International Limited, DDSS International Company Limited, and Adejare Adegbenro.
Justice Harrison issued the arrest warrant after the Lagos State prosecution counsel, Uthman̈ Rilwan informed the court that he had served the defendants with notice, but they failed to attend the arraignment.
The Lagos State government had filed a four-count charge of conspiracy, stealing, and attempted theft against the defendants.
When the case was called, Rilwan informed the court that the day’s purpose was to arraign the defendants; however, they were absent despite receiving notice of the court date.
The prosecutor stated that on or about September 2, 2013, at Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos, the defendants conspired to commit theft.
He alleged that Adejare, Balmoral, Access Bank, and Agbede stole the property of MOB Integrated Services at Plot 40b, Burdillion Road, Ikoyi, Lagos, by using it as security for a loan without the complainant’s consent and subsequently entered into a consent judgment.
Additionally, they were accused of attempting to steal the property of MOB Integrated Services on May 26, 2019, by offering and granting DDSS International Company Limited a credit facility of N1 billion.
According to the prosecutor, these offences contravened Sections 411, 280, and 21 of the Criminal Laws of Lagos State 2011.
Rilwan stated, “My Lord, this matter is for arraignment today, and the defendants have been duly served with a copy of the charge. We request the court to issue a bench warrant for the defendant’s arrest to ensure they attend proceedings on the next court date.”
Consequently, Justice Harrison issued a bench warrant against the second to fifth defendants, Balmoral International Limited, Access Bank, Bolaji Agbede, and DDSS International Company Limited.
The judge directed that the bench warrant be executed against the principal officers and adjourned the case until February 24, 2025, for the arraignment of the defendants. [newsnowonline.com]
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