NIGERIA’S INFLATION RATE RISES FOR THIRD CONSECUTIVE MONTH. (PHOTO).

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 Nigeria’s inflation rate rises for third consecutive month Nigeria’s inflation rose for the third consecutive month to 15.93 percent in May 2026 from 15.69 percent recorded in April. The National Bureau of Statistics disclosed this in its Consumer Price Index and inflation data released on Monday. This means that in May, the country’s inflation rose on a month-on-month basis by 1.75 percent. Also, the report showed that food inflation also skyrocketed to 16.96 percent in May, up from 16.06 percent recorded the previous month. “In May 2026, the headline inflation rate on a month-on-month basis was 1.75 percent, which was 0.39 percent lower than the rate recorded in April 2026 (2.13 percent). On a year-on-year basis, the headline inflation rate rose to 15.93 percent, up from 15.69 percent in April 2026 and down from 26.06 percent in the same month of the preceding year (May 2025). “The Food inflation rate in May 2026 on a month-on-month basis was 2.98 percent, down by 0.65 percentag...
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EFCC ARRAIGNS BANK MANAGER FOR $50,000 FRAUD IN ONITSHA.{PHOTO}.#PRESS RELEASE.

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The Enugu Zonal office of the Economic and Financial Crimes Commission, EFCC on Thursday, October 8, 2020 arraigned a former manager of main market branch, Heritage Bank Limited, Fidel Omeje, before Justice D.A Onyefulu of State High Court, Onitsha on one count charge of stealing to the tune of Fifty Thousand United States Dollars ( $50,000) .
The offence according to the charge sheet is contrary to Section 342 of the Criminal Code Law Cap 36,Anambra State and punishable under Section 353 (6) and (9) of the same law.
It was alleged that Omeje, used her position as a manager of the bank and account officer of the complainant, to withdraw the said sum from the domiciliary account of the complainant on July 20, 2011 without authorization and converted same to personal use.
The defendant pleaded not guilty upon arraignment, prompting the prosecuting counsel, Mike Ani to request for a date for commencement of trial. However, defence counsel, J.R. Nduka moved a motion for bail, saying the offence for which his client was charged was bailable.
Justice Onyefulu granted Omeje bail in the sum of N20, 000,000 (Twenty Million Naira) and a surety in like sum. She ordered that the surety must have evidence of tax payment, and landed property within the jurisdiction of the court and, its document deposited with the registrar.
The surety must also swear to an affidavit of means and produce two passport photographs each of himself and the defendant.
The case has been adjourned to November 26, 2020 for trial.
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