Vincent Ezenagu The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing of Individual annual tax returns by two weeks, from April 1 to April 14, 2026. In a statement issued on Monday, the Executive Chairman of LIRS, Dr. Ayodele Subair, explained that the statutory deadline for filing of individual annual tax returns is March 31 every year. He noted that the extension is intended to provide individuals with additional time to complete and submit accurate tax returns. Dr. Subair stated that individuals must give priority to the timely filing of their annual…
Author: Orientalnews Staff
Tunde Bakare Justice Jude Onwuegbuzie of a Federal High Court, sitting in Apo, Abuja has adjourned proceedings in the trial of former Minister of Power, Olu Agunloye till April 20, 2026 The former Minister is facing prosecution by the Economic and Financial Crimes Commission, EFCC, on an amended seven-count charge bordering on official corruption and fraudulent award of Mambilla Power Project contract to the tune of $6billion (Six Billion United States Dollars) to Sunrise Power Transmission Company Limited. At Monday`s proceedings, Third Prosecution Witness, PW3, Umar Hussein Babangida during re-examination by prosecuting counsel, Abba Mohammed, SAN, clarified that the investigation…
Tunde Bakare Justice Ismail Ijelu of the Lagos State High Court, sitting in Ikeja, Lagos, on Monday, March 30, 2026, convicted and sentenced Olumuyiwa Teniola Idowu and his company, Tennyvans Nigeria Limited, to a total of 30 years imprisonment on a six-count charge bordering on stealing and failure to declare assets amounting to $62,500 (Sixty-Two Thousand Five Hundred United States Dollars) and €36,020 (Thirty six Thousand, Twenty Euro) The offences contravened Section 285 of the Criminal Law of Lagos State, 2011, as well as Section 27(3) of the Economic and Financial Crimes Commission (EFCC) Act, 2004, relating to non-disclosure of…
Valentine Okafor In the heart of Lagos, where conversations around the “Japa” wave, the migration of Nigeria’s skilled workforce, continue to dominate public discourse, a contrasting narrative is quietly taking shape. It is a story of commitment, local innovation, and belief in homegrown capacity. As CardForté celebrates its fifth anniversary, its impact is being measured not merely by numbers or technological deployments, but by the lives it has transformed and the expertise it has cultivated within Nigeria. From a young engineer in Ikeja gaining hands-on experience building secure digital systems, to local professionals mastering smart card production technologies once…
Joseph Bakare The Director General (DG) of the National Youth Service Corps (NYSC), Brigadier General Olukunle Oluseye Nafiu, has called on Corps members to uphold the values they have acquired during the service, and remain committed to personal development and nation-building. Nafiu, gave the advise while congratulating the 2025 Batch ‘A’ Stream I Corps Members on the successful completion of your one-year national service. “This occasion offers a unique opportunity to, once again, commend your resilience, patriotism, discipline, and dedication throughout the service year. We celebrate your immense contributions, which have made a meaningful impact across the country. “I…
Uche Cecil Izuora Analysts have warned of significant crude oil price hikes which would further erode global economic prospects. Top grade Brent crude could surge to $200 a barrel if the Iran conflict drags on through the end of June and the Strait of Hormuz remains largely closed to shipping traffic, Macquarie strategists warned in a note. These fears were echoed by Egyptian President Abdel Fattah al-Sisi, who warned at an energy conference in Cairo that supply disruptions and rising prices could push oil above $200 per barrel, calling such projections realistic rather than exaggerated. Egypt, which maintains close…
Uche Cecil Izuora G7 countries are actively considering using emergency oil stockpiles to offset supply disruptions. The International Energy Agency has already outlined plans for a large-scale release of reserves if needed, signaling that governments are prepared to inject supply directly into the market to ease price pressure. At the same time, individual countries are taking their own steps to cushion the impact. Global energy markets are entering a more coordinated phase of response as governments move from watching volatility to actively preparing for intervention. The Group of Seven has signaled it is ready to take “all necessary measures”…
Uche Cecil Izuora Petrol prices in Nigeria have reached record-high levels, as maximum output from the giant Dangote Petroleum Refinery has failed to sustain and provide buffer for the country from the energy market impact of war in Iran. The 650,000 barrels-per-day refinery, which became fully operational early this yea was designed to transform Nigeria into a major exporter of refined products after decades of inadequate refinery capacity. In the past, that repeatedly led to fuel shortages but government subsidies kept pump prices low. President Bola Tinubu removed this buffer when he took office in 2023, promising reforms that…
Uche Cecil Izuora Amid escalating tensions in the Middle East, Nigeria, has scheduled exports of four key crude oil grades at 807,000 barrels per day in May, 3.1 per cent higher than the 783,000 bpd scheduled to load in April, according to preliminary loading programs seen by Reuters. Also, the Nigerian National Petroleum Company Limited (NNPCL) has recorded a significant milestone with the introduction and lifting of 950,000 barrels of Cawthorne Blend crude into the global market through the ultramodern FSO Cawthorne vessel, Nigeria’s first new crude oil terminal in 50 years. The development affirms media reports on the exportation…
Uche Cecil Izuora The Middle East conflict is pressing crude oil prices surging with with Brent heading for a record monthly rise, while U.S. crude futures settled above $100 a barrel for the first time since 2022 after Yemeni Houthis widened the Iran war by launching their first attacks on Israel. Brent futures settled up 21 cents, or 0.2 per cent at $112.78 a barrel. Earlier in the session on Monday Brent had climbed more than $4 to a high of $116.89. U.S. West Texas Intermediate futures finished up $3.24, or 3.3 per cent at $102.88, its highest since…