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Osinbajo Attends ECOWAS Summit In Niger Republic

Osinbajo Attends ECOWAS Summit In Niger Republic

Vice President Yemi Osinbajo is set to visit Niamey, Niger Republic for an extraordinary Economic Community of West African States (ECOWAS) Summit. Osinbajo is representing President Muhammadu Buhari at the meeting. A statement signed on Friday by Laolu Akande of the office of the Vice President explained that the Summit will include other ECOWAS Heads of State and Government and ... Read More »

Sanwo-Olu presents N1.168trillon 2020 budget

Sanwo-Olu presents N1.168trillon 2020 budget

Lagos Governor, Babajide Sanwo-Olu on Friday presented a total budget size of N1.168trillion for 2020 to the House of Assembly. The budget estimates consist of N723.6billion as capital expenditure and N441.8billion for recurrent expenditure, which is a ratio of 62-48 per cent. Tagged budget of re-awakening, the governor said there were needs for sacrifices to re-invent Lagos in order to ... Read More »

CCB, AGF move to block bank accounts of 200 public officers

CCB, AGF move to block bank accounts of 200 public officers

The Code of Conduct Bureau (CCB) is working with the office of the Attorney General of the Federation (AGF) to block bank accounts of 200 allegedly corrupt public officers. The move was initiated following the completion of an investigation of over 200 cases by the CCB involving about N40 billion. Chairman of CCB, Professor Mohammed Isah, who disclosed this yesterday ... Read More »

Nigeria Demands $62 Billion From Oil Majors for Past Profits

Nigeria Demands $62 Billion From Oil Majors for Past Profits

By: Dulue Mbachu and Elisha Bala-Gbogbo *Government demand based on October 2018 Supreme Court decision *State says oil companies failed to comply with 1993 law Nigeria is seeking to recover as much as $62 billion from international oil companies, using a 2018 Supreme Court ruling the state says enables it to increase its share of income from production-sharing contracts. The proposal comes as President ... Read More »

AGF, EFCC disagree over asset recovery

AGF, EFCC disagree over asset recovery

THERE is no plan to reduce the asset recovery powers of the Economic and Financial Crimes Commission (EFCC), Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN) has said. He said the anti-graft agencies would retain their powers to seize assets from corrupt suspects. Malami made the clarifications in a statement through his Special Assistant on Media and ... Read More »

Nigeria’s Thirst for Higher Oil Revenue Could Hurt Investments

Nigeria’s Thirst for Higher Oil Revenue Could Hurt Investments

By  Elisha Bala-Gbogbo *Country risks seeing as much as $15 billion going elsewhere * Energy companies concerned about impact on existing contracts   Nigeria’s newly signed law to govern deep offshore oil operations set a record for the fastest bill so far passed under President Muhammadu Buhari. First presented to lawmakers on Oct. 2, it went through Parliament within two weeks before ... Read More »

Border closure not targeted at Igbo importers – Customs

Border closure not targeted at Igbo importers – Customs

The Nigerian Customs Services (NCS) on Thursday in Aba, the commercial nerve of Abia State debunked rumours making rounds that the joint border security exercise codenamed “Exercise Swift Response” was targeted at importers and exporters of various goods from the Southeast using the land borders.   This is even as the NCS maintained that the exercise was meant not only ... Read More »

Breaking: FG pays N157.35 billion PAYE Tax Arrears To States

Breaking: FG pays N157.35 billion PAYE Tax Arrears To States

  *Mr Fowler (3rd left) at the event in Awka* The Federal Government has paid the sum of  N157.35 billion PAYE (PayAs You Earn)  tax liabilities owed by Federal Ministries, Departments and Agencies, MDAs to states, Tunde Fowler Executive, Chairman,Federal Inland Revenue Service and Chairman of the Joint Tax Board, JTB said today, Thursday, in Awka, Anambra State. The amount, ... Read More »

Maina arrives court in wheelchair for bail application

Maina arrives court in wheelchair for bail application

Abdulrasheed Maina, Chairman, Pension Reform Task Team, was, on Thursday, wheeled into Court 6, Federal High Court, Abuja, where his bail application is expected to be taken. Maina, who was dressed in a light green colour caftan, was in a wheelchair. The former chairman of PRTM was looking pensive and sickly. The News Agency of Nigeria reports that Maina had ... Read More »

UBA partners BA to reward loyal customers

UBA partners BA to reward loyal customers

Pan African financial institution, United Bank for Africa (UBA) Plc and the global airline, British Airways have announced a collaboration to reward loyal customers who are cardholders of the Bank. The promo which will last for six months from November 2019, will witness UBA customers getting significant discounts when they purchase their British Airways tickets using their UBA cards.  The ... Read More »

FMBN unveils scheme for home ownership

FMBN unveils scheme for home ownership

As part of fulfilling its mandate of bridging housing gap that is currently posing a great challenge to the county, the Federal Mortgage Bank of Nigeria (FMBN) has unveiled various products for affordable homes. Speaking to journalist at the ongoing Lagos International Trade Fair, FMBN, Managing Director  Ahmed Dangiwa, said that the Bank has the primary mandate of financing affordable ... Read More »

NEITI: $42b lost to oil, products theft

NEITI: $42b lost to oil, products theft

The Nigeria Extractive Industries Transparency Initiative (NEITI) on Wednesday said crude oil and refined product worth $41.9 billion were stolen from the country in the last 10 years. Its policy brief titled:  Stemming the Increasing Cost of Oil Theft to Nigeria issued in Abuja urged the government to embrace oil finger printing technology, comprehensive metering infrastructure of all facilities, and ... Read More »

NIGER DELTA GOVERNORS ASKED FOR FORENSIC AUDIT OF NDDC-WIKE

NIGER DELTA GOVERNORS ASKED FOR FORENSIC AUDIT OF NDDC-WIKE

Rivers State Governor,  Nyesom Wike has labeled the Niger Delta Development Commission (NDDC) as a failed organisation.“Those who fought for the establishment of NDDC will weep that the Commission has deviated from its mandate.   NDDC has collapsed.” Governor Wike revealed that it was Niger Delta Governors that demanded for the forensic audit of the NDDC currently been done by the ... Read More »

Court rejects request to transfer Maina’s son from police custody

Court rejects request to transfer Maina’s son from police custody

A Federal High Court in Abuja has rejected the request by Faisal, the son of the former Chairman of Pension Reform Task Team, Abdulrasheed Maina, to be moved from his current detention facility of in custody of the Special Tactical Squad of the Nigerian Police Force. Faisal was arraigned on October 25, 2019 on a three-count charge, bordering on money ... Read More »

Wike endorses NDDC’s interim management committee

Wike endorses NDDC’s interim management committee

Rivers Governor, Chief Nyeson Wike, has endorsed the newly inaugurated Interim Management Committee of the Niger Delta Development Commission, (NDDC). Wike spoke at the Government House, Port Harcourt during a courtesy visit by members of NDDC’s new management, led by the Acting Managing Director, Dr. Joi Nunieh. The NDDC chief was accompanied by the Acting Executive Director, Finance and Administration, ... Read More »

Ekiti hosts National Council on Mining and Mineral Resources Development

Ekiti hosts National Council on Mining and Mineral Resources Development

–By Government of Ekiti State, Nigeria– The Government of Ekiti State is hosting the 3rd edition of the National Council on Mining and Mineral Resources Development (NCMMRD) from 6th-8th November 2019. Below are the reasons why the #NCMMRD2019 meeting is so strategic to mining development in Ekiti State 👇🏼 Geographically, Ekiti State is only on an upland zone, rising over 250m above sea ... Read More »

Nigeria will save a trillion Naira from deregulation of oil sector- Gov Abiodun

Nigeria will save a trillion Naira from deregulation of oil sector- Gov Abiodun

Governor Dapo Abiodun of Ogun State  has stressed the need for the deregulation of the oil sector to make funds available, especially for the provision of basic amenities to the people. The governor  who stated this when he received members of the Depot and Petroleum Marketers Association of Nigeria (DPMAN) on a courtesy call in his office in Oke-Mosan, Abeokuta, ... Read More »

Dokpesi: looters list damaged my name

Dokpesi: looters list damaged my name

The Chairman of Daar Communications Plc, Chief Raymond Dopkesi, on Tuesday recounted his sad experience following the release of alleged looters’ list which contained his name. The businessman told the Federal Capital Territory (FCT) High Court, Apo, Abuja, that everybody treated him like a plague after his name appeared on the list released by the Federal Ministry of Information and ... Read More »

Soludo tells Diasporians that making Nigeria prosperous is in their interest

Soludo tells Diasporians that making Nigeria prosperous is in their interest

  R-L: Dabiri-Erewa (4th) Prof Soludo (5ft) and other dignitaries in group photograph at the Summit* Former Governor of Central Bank and member, National Economic Advisory Team, Prof Charles Soludo has told Nigerians in Diaspora that it is in their enlightened self interest to contribute to the prosperity of the country. Speaking in a keynote address on Wednesday at the ... Read More »

Ernest Ndukwe resigns from Access Bank board

Ernest Ndukwe resigns from Access Bank board

Access Bank Plc, on Tuesday, announced the resignation of Dr Ernest Ndukwe as an Independent Non-Executive Director from its board. This was contained in a statement issued by Mr Sunday Ekwochi, the bank’s Company Secretary and posted on the Nigerian Stock Exchange website. “The Board of Directors of Access Bank hereby announces that Ndukwe has indicated his intention not to ... Read More »