lagos

Injury Concerns: Osimhen May Miss AFCON Semi Final Clash Against South Africa

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Eko Hot Blog reports that there are concerns about the availability of striker, Victor Osimhen for the Super Eagles’ Africa Cup of Nations semi-final clash against South Africa. According to a statement by the team on Monday, the Napoli striker is suffering from abdominal discomfort and has not traveled with the team to Bouaké, the … Read more

Lagos Positioned For Investment: Sanwo-Olu Woos European Investors

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Eko Hot Blog reports that Governor Babajide Sanwo-Olu has extended an invitation to investors, emphasizing that Lagos State provides highly lucrative opportunities for investments. EDITOR’S PICK: Kano Hisbah Arrests 52 Keke Riders Over Alleged Immoral Haircuts And Unlawful Activities Femi Otedola Expresses Joy As He Makes Forbes’ Africa Billionaires List After Seven Years Naval Chief … Read more

Fire Razes Lagos Sawmill, Destroys Goods Worth Millions Of Naira

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Eko Hot Blog reports that a raging fire on Sunday gutted a sawmill located along Lagos-Abeokuta Expressway, by Awori Bus Stop, Abule Egba, Lagos.

The inferno destroyed planks and other items valued at millions of Naira.

The personnel of the Lagos State Fire and Rescue Service and other emergency responders were battling to put out the raging fire as at 6pm on Sunday.

Firefighters at the scene of the inferno

The immediate or remote cause of the incident could not be ascertained as at the time of filling in this report.

However, according to eyewitness, the fire brokeout at about 3:47 pm at the sawmill occupying a vast land in the area.

Affected traders, who stormed the burning market, were seen trying to salvage their goods from the inferno.

The Director, Lagos State Fire and Rescue Service, Mrs Margaret Adeseye, said that the situation had been brought under control with the fire contained from spreading beyond the sawmill.

A Nigerian firefighter

“Fortunately, no casualty recorded in the incident,” Adeseye confirmed.

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VIDEO: Lagos International Airport Suffers Sudden Blackout As FAAN Offers Explanation

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Travellers at the Lagos International Airport were left stranded for a few minutes on Saturday. The situation arose as a result of a sudden blackout that crashed operations for a few minutes. Some of the travellers knocked the apparent poor management of the airport. Eko Hot Blog reports that the Federal Airports Authority of Nigeria … Read more

Re-run/Bye-Elections: APC Sweeps Lagos, Oyo, Ondo As APGA Dominates Bayelsa

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Eko Hot Blog reports that the All Progressives Congress, APC, swept Lagos, Oyo and Ondo and was leading in Yobe as results of the re-run and bye-elections to fill 57 legislative vacancies across 26 states in the country, trickled in, yesterday. However, the All Progressives Grand Alliance, APGA, won the Yenagoa Constituency II re-run election … Read more

BREAKING: INEC Declares APC’s Laguda Winner Of Surulere Bye-Election [Full Result]

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Eko Hot Blog reports that the Independent National Electoral Commission (INEC) has declared the candidate of the All Progressives Congress as winner of the Surulere Federal Constituency 1 Bye-Election. Declaring the results, the Returning Officer for the bye-election, Prof Simeon Adebayo, revealed that the APC Candidate scored a total of 11, 203 votes. Laguda, a … Read more

LASPPPA Condemns Property Developers’ Disregard For Served Notices

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Eko Hot Blog reports that the Lagos State Physical Planning Permit Authority (LASPPPA) has issued a strong condemnation against certain property owners and developers in Lagos State who consistently disregard notices served on their properties, instructing them to halt construction or provide required Planning Permits. EDITOR’S PICKS Police Investigate Alleged Poisoning Of Tinubu’s Minister Reactions … Read more

Financial Stability: CBN Introduces Fresh Cash Reserve Measure

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Eko Hot Blog reports that the Central Bank of Nigeria (CBN) on Friday said that it will no longer be debiting daily amounts from the Cash Reserve Ratio and will instead be implementing an improved Cash Reserve Requirement method.

CBN Governor, Michael Cardoso

This development will make it easier for banks to plan, monitor, and align their records with those of the central bank, according to the CBN.

This directive was issued by the CBN on Friday in a circular titled “Cash Reserve Requirement Framework Implementation Guidelines,” which was signed by Dr. Adetona Adedeji, acting director of the department in charge of banking supervision.

The Cash Reserve Ratio is the proportion of required cash held in reserves to total deposits made by the bank.

A methodical approach, as delineated by the CBN, shall be employed in the execution of the new framework for cash reserve requirements.

The statement read, “The determination of the segment of deposits subject to sterilisation with the CBN as CRR will follow the processes outlined below:

Central Bank Of Nigeria

“Phase 1 – Utilisation of the Incremental Approach: The extant ratios (commercial banks 32.5% and merchant banks 10%) will be applied to increases in the banks’ weekly average adjusted deposits.

“Phase 2 — CRR levy of 50% of the lending shortfall will be enforced for banks that do not meet the minimum Loan to Deposit Ratio (LDR) as per our correspondence to all banks referenced BSD/DIR/GEN/LAB/12/049 dated September 30, 2019.

The CBN further stated that banks will receive information about the levies imposed and the reasoning behind them.

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https://youtu.be/O7kYpRpNvZ

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PHOTOS: Tokunbo Abiru’s Team Inspects Ongoing Rehabilitation Of Ikorodu-Itokin Road

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Eko Hot Blog reports that the team of Tokunbo Abiru, the lawmaker representing Lagos East Senatorial District, Senator Tokunbo Abiru team, has taken an inspection tour of the ongoing rehabilitation of Ikorodu-Itoikin road. The lawmaker facilitated the rehabilitation of the road. Abiru’s Special Adviser on constituency matters, Dr Saheed Ibikunle, led the senator’s team on … Read more

Sanwo-Olu Engages CACC In Plans For New Airport”

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Sanwo-Olu seeks collaboration with CACC in the development of the new airport in Lekki. Sanwo-Olu lauded Lagos as the most active and financially capable state in the country (Nigeria). CACC expressed willingness to partner with the Lagos Govt to realize its vision of a new airport. Eko Hot Blog reports that Babajide Sanwo-Olu, the Governor … Read more

Chaos As Angry Subscribers, Students Swarm NIMC Centre For NIN Verification In Lagos

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SIM-NIN Linkage

EKO HOT BLOG reports that Telecommunication subscribers as well as students applying for the West African Examination Council (WAEC) and the Joint Admission Matriculation Board (JAMB) examinations yesterday besieged the Alausa, Ikeja enrolment centre of the National Identity Management Commission (NIMC). They were at the commission’s office in their thousands to enroll for the National Identity … Read more

Lagos, Norway To Deepen Bilateral Relationship

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Sanwo-Olu wants to deepen the relationship with Norway, making sure it expands to different areas. He stated that Lagos State is very key to the development of Nigeria and the whole of West Africa. Baera revealed that since last year’s Nordic Event, investors have shown interest in solar energy. Eko Hot Blog reports that Lagos … Read more

Sanwo-Olu Announces Red Line Rail Project’s Imminent Commissioning

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Sanwo-Olu says inauguration of Red Line Rail Project is weeks away. He says transportation challenges will be a thing of the past. Sanwo-Olu reveals Tinubu’s plan to grace the inauguration.   Eko Hot Blog reports that the Lagos State Governor, Babajide Sanwo-Olu has announced that the Red Line Rail Project is ready for commissioning. EDITOR’S … Read more

Sowore Speaks On Working With Labour Party, PDP, Others

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Eko Hot Blog reports that revolution now conveyer and presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has publicly stated his reasons for not aligning with Peter Obi’s Labour Party. In a recent video posted on his X handle on Wednesday, Sowore elaborated on the ideological differences that set his party apart from … Read more

FG Gives Update On FAAN Relocation To Lagos

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FAAN relocation

EKO HOT BLOG reports that the Minister of Aviation and Aerospace Development, Festus Keyamo, has affirmed the government’s decision to relocate the headquarters of the Federal Airports Authority of Nigeria (FAAN) from Abuja to Lagos. Keyamo made this declaration on Channels Television’s Politics Today programme on Wednesday, amidst opposition from various northern groups and political figures. … Read more

Lagos SUBEB Chairman Hakeem Shittu Loses Father

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Alhaji Rafith Shoye Shittu

Eko Hot Blog reports that Hakeem Shittu, the Chairman of the Lagos State Universal Basic Education Board (LASUBEB), has lost his father, Alhaji Rafith Shoye Shittu. Alhaji Shittu passed away on Wednesday, leaving behind children, including an illustrious son, and grandchildren. The deceased’s son, who chairs LASUBEB, announced the sad development in a terse statement … Read more

Alhaji (Prince) Moshood Olanrewaju Mayegun: A Beacon Of Leadership Chosen As Oba-Elect For Onikoyi Stool In Ikoyi And Imoba Land

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Eko Hot Blog reports a significant development within the Dosumu Onikoyi Royal Family, Alhaji (Prince) Moshood Olanrewaju Mayegun has been officially designated as the Oba-Elect for the prestigious Onikoyi of Ikoyi and Imoba Land stool. EDITOR’S PICK: Kano Hisbah Arrests 52 Keke Riders Over Alleged Immoral Haircuts And Unlawful Activities Femi Otedola Expresses Joy As … Read more

Outgoing President’s Counsel: Otunba Ayodeji Randle Assumes Presidency At Secretariat Membership Club

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Eko Hot Blog reports in a significant transition of leadership, Otunba Ayodeji Randle has taken the helm as the new President of the Secretariat Membership Club, succeeding the outgoing President, Captain Gabriel Ade Ayeni. EDITOR’S PICK: Kano Hisbah Arrests 52 Keke Riders Over Alleged Immoral Haircuts And Unlawful Activities Femi Otedola Expresses Joy As He … Read more

Lagos IRS Announces Extension Of Deadline For Filing Tax Returns

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Lagos IRS

EKO HOT BLOG reports that Lagos State Internal Revenue Service, LIRS, has extended the filing of employers’ annual tax returns by one week, starting from February 1 to February 7, 2024. Ayodele Subair, the Executive Chairman of LIRS, disclosed this in a public notice released by the agency on Tuesday. EDITOR’S PICKS Trailer Driver Falls Off … Read more

Governor Sanwo-Olu Departs Lagos For China

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Sanwo-Olu

EKO HOT BLOG reports that Governor Babajide Sanwo-Olu of Lagos State will today travel to Beijing, the capital of China, for trade and investment discussions. During his visit, the governor will visit the headquarters of China Civil Engineering Construction Company (CCECC) to meet with top officials of the company. EDITOR’S PICKS Trailer Driver Falls Off Lagos-Ibadan … Read more

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