Business
Judge’s absence stalls ruling on Binance executive’s bail plea
The bail ruling application filed by Tigran Gambaryan, an executive of Binance Holdings Limited, was stalled at the federal high court in Abuja on Wednesday due to the absence of the judge.
Although the ruling was reserved to be delivered today, the court did not sit as judges are said to be attending a seminar at the National Judicial Institute in Abuja.
The ruling has been adjourned to Friday.
In April, the Economic and Financial Crimes Commission (EFCC) arraigned Binance, a cryptocurrency firm, and Gambaryan, on allegations of money laundering.
On May 17, the court refused Gambaryan’s first bail request.
The Binance executive later collapsed in court due to “ill-health”.
Gambaryan’s legal team and his family have raised the alarm that he could die in the Kuje prison if his health continues to deteriorate.
His wife, Yuki, said Gambaryan’s health was getting worse, adding that he needed “highly specialised and risky surgery” to treat the herniated disc in his back.
Gambaryan’s health had led Nwite to issue an arrest warrant against Abraham Ehizojie, a medical doctor at the health facility in Kuje correctional centre, over his failure to produce the executive’s medical report.
On September 2, the EFCC objected to the health claims made by the Binance executive after Iheanacho filed a counter affidavit to the bail application.
Mordi had informed the court of another bail application — which was filed on August 28 — seeking his client’s release on medical grounds.
However, the prosecution filed a counter affidavit opposing the bail application.
Ekele Iheanacho, EFCC counsel, said he has perused the defendant’s medical records and his health challenge “is not as serious” as it has been portrayed.
Business
Enugu Air Begins London Gatwick flights From December 10, 2026
The Enugu State-owned airline will use an Airbus A330-200 leased from Portugal-based EuroAtlantic under an Aircraft, Crew, Maintenance and Insurance (ACMI) arrangement.
Enugu Air will begin direct flights to London Gatwick on December 10, 2026, with four services weekly.
Tickets are already available for booking.
The Enugu State-owned airline will use an Airbus A330-200 leased from Portugal-based EuroAtlantic under an Aircraft, Crew, Maintenance and Insurance (ACMI) arrangement.
The service is being delivered through a strategic partnership with Omni-Blu Aviation (OBA).
The airline said the service will improve international travel connectivity for passengers departing from Lagos, Enugu and other parts of Nigeria.
Passengers from Enugu will be able to begin their international journey to London from their home airport, Akanu Ibiam International Airport.
The four weekly flights are expected to give travellers greater flexibility between Nigeria and the United Kingdom.
Enugu Air Chief Executive Officer Captain Tolu Ita said: “The commencement of our London Gatwick service reflects our commitment to expanding international connectivity and the vision of His Excellency, Governor Peter Mbah, to connect Enugu to more opportunities across the world.”
He added: “Of particular importance is ensuring that passengers from Enugu can begin their international journey to London from their home airport, Akanu Ibiam International Airport. We are proud to make the journey from Enugu to London Gatwick a reality for our passengers.”
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Business
NNPCL wants to sell 10% equity via IPO on NGX, LSE
NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.
The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.
The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.
NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.
Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.
The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.
Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.
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