• Thursday, December 07, 2023
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Five things to know to start your Tuesday


Lagos govt reopens Ladipo market

Ladipo Market in Mushin, Lagos, has reopened after meeting essential criteria following its closure due to environmental violations.

Tokunbo Wahab, the commissioner for the environment and water resources,  emphasised the government’s commitment to a clean environment, public health, and safety, as part of Governor Babajide Sanwo-Olu’s THEMES Plus agenda.

Muyiwa Gbadegesin, the Managing Director/CEO of LAWMA, stressed the importance of environmental rules for a safer business environment and urged traders to comply with these regulations to avoid indefinite closures.

NERC warns of Ajaokuta Steel disconnection due to N25bn debt

Electricity distribution companies, in a 2022 NERC report, warned the Federal Government of Nigeria over unpaid electricity bills amounting to approximately N25 billion by Ajaokuta Steel Co. Ltd.

This unpaid amount for electricity supplied in 2022 may lead to Ajaokuta Steel’s disconnection from the national grid.

As of December 31, 2022, Ajaokuta owed approximately N23 billion to the Nigerian Bulk Electricity Trading and N2 billion to the Market Operator.

NERC has engaged with federal ministries to resolve this issue, but failure to pay may result in disconnection.

FG destroys seized wildlife products to combat trafficking

The Federal Government has destroyed a substantial quantity of seized wildlife products, including pangolin scales, leopard, python, and crocodile skins, in a groundbreaking effort to combat wildlife trafficking and protect biodiversity.

The event took place in Abuja, attended by government representatives, environmental NGOs, and conservation experts.

The destruction, carried out in collaboration with the Elephant Protection Initiative Foundation and the United Nations Office on Drugs and Crime, involved 3,914.08kg of pangolin scales and 110kg of protected species skins, totaling 4,024.1kg.

The move signifies the government’s commitment to safeguarding the environment and combating illegal wildlife trade.

CBN grants Parallex Bank authority to collect NEES

The Central Bank of Nigeria has approved Parallex Bank to collect Nigeria Export Supervision Scheme (NESS) fees.

This mandatory fee for legitimate goods exported from Nigeria includes both non-oil and oil-based products.

The approval was granted under the auspices of the Minister of Finance, and Parallex Bank encourages authorised exporters to use their services.

Parallex Bank recently transitioned into a commercial bank and is expanding its branch network across the country.

Olufemi Bakre, Parallex Bank Managing Director, said that he is confident in the bank’s growth and services.

Israel-Hamas war: U.S. prepares 2,000 troops for deployment amid Gaza tensions

Approximately 2,000 U.S. troops are on standby for possible support to Israel amidst ongoing tensions. While their exact deployment location remains unconfirmed, it would likely be a neighboring country, ready to assist Israel in its conflict with Hamas.

These troops have transitioned from a 96-hour to a 24-hour prepare-to-deploy status, bringing various capabilities, including medical support and explosives handling.

Additionally, the U.S.S. Dwight D. Eisenhower Carrier Strike Group has been deployed to the eastern Mediterranean Sea, demonstrating support for Israel.