The Nigerian Navy Ship (NNS) Beecroft has discovered an illegal fuel depot at Number 3 Silver Bird Road, Ilasun Lekki, and arrested five suspects.

The leader of the syndicate, Ahmed Ariyo, alongside four other persons were arrested in a private apartment where they carry out their illegal activities.

While briefing newsmen, the Commander NNS Beecroft, Commodore Rafiu Oladejo said the discovery of the illegal fuel depot was sequel to credible intelligence they received on suspicious activities taking place at Elegushi beach.

He said this necessitated the deployment of NNS Beecroft Quick Response Team to the location which resulted in the discovery and arrest of the suspects.

Commodore Oladejo added that the illegal fuel depot contains eight storage tanks of 50,000 litres capacity each.

The total products discovered is about 65,000 litres of diesel which is estimated to be about 89 million Naira based on the current price of ₦1,350.

While estimating the total capacity of the storage facility found in the apartment, the Commander said the 8 storage tanks if filled with diesel will be about 400,000 litres which is approximately 500 million Naira.

The Lagos State Traffic Management Authority (LASTMA) has warned motorists to maintain speed limits while driving on the long stretch of the newly renovated Third Mainland Bridge which has been slated for reopening today.

The warning was given by the General Manager of LASTMA, Olalekan Oki, while addressing officers of the agency whose purview falls within the Third Mainland Bridge operational areas.

OKI said the comprehensively repaired bridge is fascinating to drive on and therefore urged motorists to observe all traffic signs and installed technological equipment connected to traffic.

He assured the motoring public that the agency would deploy more men, patrol and recovery vehicles to ensure the safety of motorists and timely rescue intervention on the bridge.

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.