News
Nigeria’s inflation hits 29.9 per cent

A new report released by the Nigerian Bureau of Statistics (NBS) has shown that the headline inflation rate increased year-on-year (YoY) by 0.98 percentage points to 29.9 per cent in January 2024 from 28.92 per cent in December 2023.
It was also noted that in January 2024, food inflation also increased to 35.41 per cent from 33.93 per cent in December 2023.
The report read; “In January 2024, the headline inflation rate increased to 29.9 per cent relative to the December 2023 headline inflation rate, which was 28.92%. Looking at the movement, the January 2024 headline inflation rate showed an increase of 0.98 percentage points when compared to the December 2023 headline inflation rate.
“Furthermore, on a month-on-month basis, the headline inflation rate in January 2024 was 2.64 per cent, which was 0.35 percentage points higher than the rate recorded in December 2023 (2.29 percent).
“This means that in January 2024, the rate of increase in the average price level is greater than the rate of increase in the average price level in December 2023.
“The food inflation rate in January 2024 was 35.41 per cent on a year-on-year basis, which was 11.1 percentage points higher compared to the rate recorded in January 2023 (24.32%).
“The rise in food inflation on a year-on-year basis was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, oil and fat, fish, meat, fruit, coffee, tea, and cocoa.
“On a month-on-month basis, the food inflation rate in January 2024 was 3.21%; this was 0.49 percentage points higher compared to the rate recorded in December 2023 (2.72 per cent).
“The average annual rate of food inflation for the twelve months ending January 2024 over the previous twelve-month average was 28.91 per cent which was a 7.38 percentage point increase from the average annual rate of change recorded in January 2023 (21.53%).
“In January 2024, food inflation on a year-on-year basis was highest in Kogi (44.18 per cent), Kwara (40.87 per cent), and Rivers (40.08 per cent), while Bauchi (28.83 per cent), Adamawa (29.8 per cent) and Kano (30.08 per cent) recorded the slowest rise in food inflation on a year-on-year basis.”
News
Court Throws Out Falana’s Fraud Case against Ekeh, Zinox Boss and Others

Federal High Court in the Bwari Judicial Division has thrown out a case of fraud filed against the Chairman of Zinox Technologies, Mr. Leo Stan Ekeh, his wife, Chioma Ekeh, and 11 others.

Femi Falana and Leo Stan Ekeh
This is the umpteenth time.
The latest is the dismissal of the suit by Justice Akpan Okon Ebong of the FCT High Court, who struck out the case filed by Mr. Femi Falana SAN, purporting to act on a fiat donated to him by Mr. Lateef Fagbemi SAN, attorney general and minister of Justice of the Federal Republic of Nigeria, against Mr. Leo Stan Ekeh, chairman of Zinox Technologies, and 12 others.
The other defendants are Mr. Chris Eze Ozims, Oyebode Folashade, Charles Adigwe, Obilo Onuoha, Agartha Ukoha, Anya O. Anya, Femi Dosumu, Nnenna Kalu, Admas Digital Technologies Limited, Technology Distributions Limited and Zinox Technologies Limited.
In the suit No. FCT/HC/CR/985/24 filed in November 2024, Falana, on behalf of his client, Benjamin Joseph, the CEO of Citadel Oracle Concept Limited, an Ibadan-based computer firm, filed charges against Ekeh, 9 other individuals and 3 companies before the Federal High Court in Abuja for allegedly diverting N162,247,513.80 being payment for laptop supply contract at the Federal Inland Revenue Service (FIRS) Headquarters which Technology Distribution Ltd (now TD Africa), the biggest tech equipment distributor in sub-Saharan Africa supplied on behalf of Citadel in 2012.
However, in the certified true copy of the judgment dated March 20, 2025, Justice Ebong ruled as follows: “It is my conclusion based on the foregoing that this charge (No. FCT/HC/CR/985/2024, Federal Republic of Nigeria v Leo Stan Ekeh and 12 ORS) constitutes a gross abuse of court process and is liable to dismissal. I accordingly hereby dismiss it.”
Before arriving at his judgment, which has put the final nail in the coffin of a case that other courts had also dismissed in the past as dead on arrival, Justice Ebong considered the outcome of previous cases and petitions filed by Mr. Joseph, none of which was in his favour.
Justice Ebong said: “One intriguing aspect of this matter is that none of the law enforcement agencies involved in the investigation of the nominal complainant’s (Mr. Joseph) numerous petitions has found merit in any of his allegations against the defendants. When called upon before Senchi J. (Justice Danlami Z. Senchi) to prove his said allegations to the court, he failed to turn up in court. One then wonders on what premise he wants to maintain this campaign of persecution against the defendants.”
Previous judgments on the matter had established that rather than being the culprit, Ekeh and the 12 others were actually the victims of a failed money diversion scheme plotted by Mr. Joseph and Citadel.
When contacted, one of the defendants, Mr. Chris Eze Ozims, a lawyer, said: “This ruling truly reflects our consistent position on the allegations, and it is good that we have been vindicated, once more, by a competent high court.”
He asserted that the judgment of Justice Ebong was consistent with the position of the defendants and in tandem with the rulings of other judges who had previously adjudicated on the same matter.
Mr. Matthew Burkaa SAN, chief counsel to the defendants, described the judgment as a victory for integrity and the rule of law.
Court papers showed that Falana’s suit was based on the same claims that various courts had dismissed in the past as falsehood and baseless. The case arose from a contract between Citadel and Technology Distributions Limited over the supply of computers to the Federal Inland Revenue Service (FIRS), a project fully funded by Technology Distributions and has no bearing whatsoever with Zinox and its promoter, Mr Leo Stan Ekeh.
It will be recalled that Mr. Joseph had lost the case and its adjunct suits at different courts in the past. In his petition to the police in 2013, police authorities discovered that Mr. Joseph provided false information to the police, prompting the Inspector General of Police to charge him for false information in charge no.CR/216/16.
In another case filed by the EFCC in his instance against his partner, Princess Kama, in charge no. FCT/HC/CR/244/2018, Honorable Justice Danlami Z. Senchi of the FCT High Court (as he then was) dismissed as false all the allegations made by Benjamin Joseph, and imposed the sum of N20 million as damages against him for false petitioning in relation to these same allegations.
Earlier court papers showed that Joseph, in his statement on oath in suit No:LD/4335/2014 in the High Court of Justice, Lagos State, dated June 28, 2019, averred that his company, Citadel, did not execute any contract with FIRS and that he was not aware that a contract had been awarded to Citadel.
In his deposition under oath, Joseph claimed that Citadel “did not at any time execute any contract for the FIRS and neither did the 2nd defendant (Princess O. Kama) who is its agent in respect of the contract it bid for with the FIRS deliver/release any documents to the Claimant (Citadel) indicating that the contract it bid for, or any other contract was awarded to it by the FIRS or any other body.”
However, a letter from the FIRS addressed to the chamber of Afe Babalola & Co dated February 11, 2014 (FIRS/PD/GDS/2559) and signed by one Idrissa Kogo, Head Legal Department, stated: “Contrary to your client’s claim that they knew nothing about the execution of the contract awarded to them and that they did not receive any payment for the execution of the contract, our record reveals otherwise.
“Your client instructed FIRS through a letter dated December 13, 2012, to deal with Princess O. Kama (Your client’s agent) in relation to the contract. Through three separate letters dated December 20, 2012, your client instructed FIRS to pay to the client’s account with Access Bank plc. Please note that FIRS acted in compliance with your client’s instruction and with due diligence,” the FIRS letter stated.
The FIRS letter was a response to inquiry by Afe Babalola Chamber, lawyers to Citadel Oracle Concept Ltd and its MD, Mr. Benjamin Joseph, at that time.
The current charges filed by Falana on the basis of a fiat from the Attorney General is the third in a row as Mr Joseph had earlier filed charge no.CR/469/2022, which was struck out by Honorable Justice C. O. Oba of the FCT High Court, by an order dated November 8, 2022.
Determined to push through with his case, Mr Joseph filed the same charges before Honorable Justice A. S. Adepoju of the FCT High Court, and the charges were, once again, struck out by the Honorable Court on March 19, 2024, with Honorable Justice Adepoju holding that: “This matter was brought in dead, extinct and should be confined into the dustbin of history…I hold that the instant suit is an abuse of the process of court, and it is hereby struck out accordingly.”
News
FG to Halt Solar Panel Imports, Pushes for Local Manufacturing

Nigeria is to phase out solar panel imports to promote local manufacturing and advance Nigeria’s shift towards clean energy, according to Uche Nnaji, minister of Science and Technology.

Uche Nnaji, minister of Science and Technology
Nnaji who spoke at the unveiling of the NEV T6 electric buses in Abuja, stated that the decision aligns with a presidential directive prioritising local content in science, engineering, and technology.
He highlighted Nigeria’s capacity to produce its own solar panels, with the National Agency for Science and Engineering Infrastructure (NASENI) playing a key role in local manufacturing.
He projected that as domestic production grows, more households and institutions would transition to off-grid solar power solutions.
“We have lithium in abundance here in Nigeria, so Mr. President is already taking action. We are adding value to our raw materials. The lithium we have here will be processed and used as batteries for these vehicles,” Nnaji said.
Addressing the country’s power challenges, the minister revealed that the government is developing mini-grid solutions to provide reliable energy for hospitals, institutions, and homes.
“If you look at our budgets, we have what is called mini-grids all over the place. In less than three or four months, you will start seeing our hospitals and institutions being powered by solar,” he stated.
Nnaji emphasised that the government’s approach focuses on sustainability and environmental protection.
“Again, we are saving the environment; we are putting in place non-carbon emission infrastructure. So, we are creating power everywhere. It is not about using diesel, it is not about using PMS, it is not about generating the kinds of power that will pollute the environment.”
He pointed out that NASENI and private companies have already begun producing solar panels locally, making it feasible to discontinue imports.
“With NASENI here, you know that we have panels. It has a factory that has started producing solar panels, and other private individuals are also producing solar panels as we speak.
“So, all we need to do is, even through science and technology, through our Presidential Executive Order No. 5, we will stop all these importations of solar panels.
“We will support our local industries to grow, and very soon, most houses will go off-grid. Personally, I have been off-grid for over three years, and it is working.”
News
FG Receives N1Bn Grant from Airtel Africa to Boost 3MTT Programme

Federal government of Nigeria has said that it has received a N1 billion grant from Airtel Africa Foundation to boost its 3 million Technical Talent initiative (3MTT).
Championed by Dr. Bosun Tijani, minister of Communications, Innovation, and Digital Economy, as part of President Bola Ahmed Tinubu’s strategic talent-building initiatives for the tech sector, the 3MTT programme aims to bridge the digital divide and position Nigeria as a key player in the global technology landscape.
Tijani said the grant will be deployed towards training and empowering over 25,000 Nigerians with in-demand technical skills under the 3MTT program.
“Today we received a N1 billion grant from the Airtel Africa Foundation for our 3MTT Nigeria program.
“The grant will cover hands-on training, community engagement, and job placement initiatives, all with the objective of enhancing Nigeria’s digital workforce in alignment with H.E President Bola Tinubu’s Renewed Hope Agenda.
“Grateful to the Airtel Africa Foundation for collaborating with us as we work to position Nigeria as a key player in the global technology landscape,” the Minister stated.
Tijani noted that the 3MTT program is a cornerstone of the government’s commitment to building a robust digital economy in Nigeria.
In his remarks, Dr Segun Ogunsanya, chairman, Airtel Africa Foundation, highlighted Airtel’s dedication to the growth of Nigeria’s economy through the support of its key levers.
He stated that Airtel believes in the power of technology and digital skills to unlock new opportunities, drive economic growth, and uplift communities.
According to him, the 3MTT programme is a bold step towards ensuring that Nigerian youths are not just participants in the digital revolution but leaders in it.
“Our N1 billion support is a strategic investment in Nigeria’s future workforce and prosperity,” he said.
Dr. Bosun Tijani, minister of Communications, Innovation, and Digital Economy, on Wednesday, after receiving the cheque from the Foundation’s Chairman, Dr Segun Ogunsanya.
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