Federal High Court in Abuja has adjourned the tax evasion case involving Binance Holdings Limited and its executive to the nineteenth of April.

The Federal Inland Revenue Service, FIRS had dragged the firm to court for tax evasion.

Also joined in the suit are officials of the company, Tigran Gambaryan, and fleeing Nadeem Anjarwalla.

In the suit marked, Binance was accused of failing to register with the FIRS for the purpose of paying all relevant taxes administered by the service.

The FIRS also alleged that while it was offering taxable services to subscribers on its trading platform, the company failed to issue invoices to the subscribers for the purposes of determining and payment of its Value Added Taxes.

The matter was adjourned following the inability of the FIRS to serve Gambaryan the charges in EFCC custody.

The alleged money laundering case instituted by the EFCC is underway.

The Ikeja Electricity Distribution Company, IKEDC, has published the areas in Lagos State enjoying over 20 hours of power.

This follows the increase in electricity tariff for consumers under the Band A classification by the Nigerian Electricity Regulatory Commission, NERC.

The hike will see the customers pay 225 naira kilowatt per hour, an increase from the current 66 naira.

Customers under Band A are those who enjoy 20-24 hours of electricity supply daily while those in Band B are subscribers who enjoy 16 to 20 hours.

The Lagos State subscribers of the Band A tariff plan include customers around Ijaiye, Egbeda, Anifowoshe, Ogba, Oregun, Odogunyan, Magodo and so on.

The Nigerian Electricity Regulatory Commission (NERC) has said the newly approved tariff is expected to reduce subsidies for the 2024 fiscal year by 1.14 trillion naira.

In a statement, the Vice Chairman of NERC, Musiliu Oseni said this is in furtherance of the federal government’s realignment of the subsidy regime.

Oseni said the federal government had indicated a transition in policy direction towards introducing a more targeted subsidy regime aimed at mitigating the impact of changes in macroeconomic parameters.

He said this will be done while largely protecting vulnerable customers and fostering investments targeted at providing efficient service delivery in the Nigerian Electricity Supply Industry (NESI).

OSENI said the commission, upon due consideration of the tariff applications, approved revised rates affecting only customers classified under Band A category which is about 15 per cent of the customer population.

The hike will see the customers pay N225 kilowatt per hour, an increase from the current N66.

He said empirical service data had confirmed that this class of customers had truly received the committed level of service.

Speaking subsequently in an interview, Oseni said the move is also backed by the commission’s Act.

Callers on Inspiration FM’s breakfast show, The Big Story also reacted to the development.

President Bola Tinubu has said the new students’ loan law will ensure that no citizens will miss out on quality education on account of poverty or lack of opportunity.

He stated this after signing the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Bill 2024 into law.

The law, which aims to provide loans to qualified Nigerians for tuition fees during their studies, initially faced delays due to various issues hindering its inauguration.

The president signed the bill into law at the Council Chambers of the Presidential Villa in Abuja in the Presence of the leadership of the National Assembly, Ministers and Major Stakeholders of Education.

Speaking after the signing of the bill, the president appreciated the national assembly for their passage of the bill, assuring of proper implementation.

Minister of Education, Tahir Mamman and president of National Association of Nigerian students, Lucky Emonefe expressed satisfaction over the development. First to speak is Mamman.