Operatives of the Ogun State Police Command have arrested a truck driver, Olalere Timileyin and his motor boy at Obada Oko, in Ewekoro local government area of the State, over the death of a man said to have been assaulted for allegedly stealing a tarpaulin.

The spokesperson for the state police command, SP Omolola Odutola, disclosed this in a statement sent to journalists on Saturday.

Odutola stated that one Alao Fadipe of Iyana Ikereku at about 3 am on Friday, December 13, reported to the police how he saw some individuals fighting on the road in front of his house.

Fadipe reportedly told the police that upon getting to the scene, he observed that Timileyin, a truck driver and his motor-boy associated with a cement factory in Itori, Ewekoro Local Government Area of the state were allegedly assaulting a man for stealing tarpaulin until he lost consciousness.

Odutola stated that, “acting on the complaint, detectives from Obada Oko responded and arrested the driver and his motor-boy at the location.

“The injured man was promptly taken to the State Hospital, Ijaye, for medical care, but sadly passed away during treatment.

“The body has been at the morgue for an autopsy. The suspects are currently being interrogated, and efforts are underway to reach the deceased’s family.

“The case will be forwarded to SCIID Eleweran for further investigation”.

The state command has also warned residents against street fights or any act of violence that could lead to a breach of peace during this yuletide and beyond.

Vanguard

The Central Bank of Nigeria, CBN, has imposed a fine of N150 million on Deposit Money Banks found culpable of issuing illegal flow of mint naira notes to currency hawkers across the country.

This was contained in a statement by the acting Director of Corporate Communications of the apex bank, Sidi Ali Hakama in Abuja.

The move was after the apex bank addressed recent misinformation about the validity of the old N1000, N500, and N200 banknotes still in circulation.

The statement reaffirmed that the denominations remained valid legal tender in line with a Supreme Court ruling issued on November 29, 2023, and warned against hoarding.

Following the clarification, CBN in a circular signed by the Acting Director of the Currency Operations Department, Mohammed Olayemi on Friday, said it was concerned about the increasing prevalence of mint naira notes being traded by hawkers.

The apex bank described the practice as impeding efficient and effective cash distribution to customers and the general public.

The circular, which referred to an earlier directive dated November 13, 2024, highlighted CBN’s determination to address the commodification of the naira.

According to the directive, any branch of a financial institution found guilty will face a penalty of N150m for the first violation.

The apex bank warned that any subsequent infractions would attract stricter sanctions under the provisions of the Banks and Other Financial Institutions Act, BOFIA, 2020.

To ensure compliance, the apex bank stated that it would increase periodic spot checks in banking halls and ATMs while deploying mystery shoppers to uncover illicit cash hawking spots across the country.

The circular read, “The CBN has noted with dismay the prevalence of illicit flow of mint banknotes to currency hawkers and other unscrupulous economic agents that commodify Naira banknotes, thus impeding efficient and effective cash distribution to banks’ customers and the general public.

“CBN will continue to intensify the periodic spot checks to the banking halls/ATMs to review cash payouts to banks’ customers, as well as mystery shopping to all identified cash hawking spots across the country.

“In this regard, any erring deposit money banks or financial institutions that are culpable of facilitating, aiding, or abetting, by direct actions or inactions, the illicit flow of mint banknotes to currency hawkers and unscrupulous economic agents that commodify Naira banknotes shall be penalised at first instance N150,000,000.00, One hundred and fifty million Naira, only, per erring branch, and at later instances, apply the full weight of relevant provisions of BOFIA 2020,” the statement read.

The Nigerian National Petroleum Company Limited, NNPCL, has reduced the price of Premium Motor Spirit (petrol) across its retail outlets in the Federal Capital Territory, Abuja.

Newsmen who visited NNPCL retail outlets observed that the petrol pump price was reduced from N1,060 to N1,040 per litre. This represents a reduction of N20.

“The price was reduced to N1,040 per litre from N1,060 on Saturday morning,” a filling station attendant at the NNPCL retail outlet along Kubwa expressway told DAILY POST.

A motorist, Ezekiel Njoku, confirmed the development to DAILY POST.
“The reduction of N20 is significant. We need further fuel price reductions in the coming days,” he said.

With the price cut, Nigerians will now buy petrol at N1,040 per litre at NNPCL filling stations, while prices remain within N1,115 per litre at other filling stations, depending on the location.

This development comes barely three weeks after the state-owned Port Harcourt refinery began producing petroleum products in November 2024.

The former Managing Director of NNPCL Retail, Prof. Billy Okoye, had earlier speculated that a fuel price reduction was imminent with the commencement of production at the Port Harcourt refinery.

Oil marketers, the Independent Petroleum Marketers Association of Nigeria, IPMAN, and the Petroleum Products Retail Outlets Owners Association, PETROAN, had also hinted that the deregulation of the sector—coupled with the operations of Dangote and Port Harcourt refineries—would lead to a drop in petrol prices.

Dailypost