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EFCC docks 2 oil firms, directors over N1.57bn alleged fraud

Two oil service companies and their directors, were, Monday,  arraigned by Economic and Financial Crimes Commission, EFCC, before a Federal High Court sitting in Lagos for allegedly inducing a financial institution to deliver to Danium Energy Services Limited the sum of N1.57billion. Counsel to EFCC,  Rotimi Oyedepo, in the charge,  said the accused on or about October 5, 2016 in ...

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President Buhari Appoints Ex-CBN Deputy Governor As FERMA Chairman

           President Muhammadu Buhari has approved the appointment of a former Deputy Governor of the Central Bank of Nigeria, Mr Tunde Lemo, as the Chairman of the Federal Roads Maintenance Agency. The Assistant Director of Press in the Office of the Secretary to the Government of the Federation, Mr Mohammed Nakorji, disclosed this in a statement. ...

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Kachikwu’s Leaked Memo Revives NNPC Scandal

A leaked memo from Nigeria’s Minister of State for Petroleum has shown that irregularities in the state-owned oil giant remain entrenched, despite official vows to root out the “cancer” of graft. Emmanuel Ibe Kachikwu wrote to President Muhammadu Buhari to report on questionable practices in the state-owned Nigerian National Petroleum Corporation (NNPC). Five NNPC contracts, with a total value of $25 ...

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See Photos Of Stanbic IBTC Bank Staff In School Uniforms To Mark Customer Service Week

One of the commercial banks in Nigeria has painted a classroom setting in secondary schools to mark their customer service week.     These are colourful photos of Stanbic IBTC members of staff setting aside their laborious jobs to mark their customer service week with utmost fun. Some of the workers in Lagos recently dressed as school students and teachers ...

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Nigerians to buy 50kg bag of rice N6, 000 soon- RIFAN

    Rice Farmers Association of Nigeria, RIFAN, have assured that Nigerians will buy 50 kilogrammes bag of rice at N6, 000 in the next few months. This was disclosed by the National President of RIFAN, Aminu Goronyo, while answering questions from newsmen after a meeting held with the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, and the National ...

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Adeosun: 2017 budget to be rolled over into 2018

    The Minister of Finance, Mrs. Kemi Adeosun, has revealed Federal Government’s plan to roll over at least 60 per cent of 2017 capital projects to 2018 budget proposal. Adeosun made this known when she appeared before the Senate Joint Committees on Finance and Appropriations. She was accompanied by the Minister for Budget and National Planning, Udoma Udoma, to give ...

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57 years after independence: Nigeria still dancing naked in public – TUC

     The Trade Union Congress of Nigeria (TUC) on Friday said 57 years after the nation’s independence, Nigeria was still “dancing naked” in the public to the full glare of the whole world while its roof is still on fire and challenge the nation’s leadership to see this year’s independence celebration as an opportunity to reposition the country. President ...

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Nigeria’s fiscal Leg is Sleeping- Expert

     An economist and management consultant, Osilama Okuofu has described Nigeria’s fiscal policy as being dormant as against its statutory role of setting economic agenda for monetary authorities.   Okuofu stated this while reacting to the Monetary Policy Committee of the Central Bank of Nigeria retention of the benchmark lending rate and other monetary policy rates against a backdrop of ...

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FG seeks FRA amendment to off-set N2.7 trillion obligations

  The Federal Government (FG) is seeking a legal framework for the issuance of promissory note and bond to settle some financial obligations amounting to N2.7 trillion. This is contained in a letter to the Senate President, Abubakar Bukola Saraki written by Vice President, Professor Yemi Osinbajo. The letter dated August 4, 2017 and addressed to the Senate President was written when ...

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No hope for Nigeria without agriculture, says Obasanjo

  Former President Olusegun Obasanjo on Thursday declared that Nigeria may not be able to rise above its socio- economic woes and becomes great until it takes agriculture serious. Obasanjo said agriculture has the capacity to develop entrepreneurs and create millions of jobs for the increasing Nigerian idle population, lamenting that the oil sector which seemed attractive, could only make ...

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