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House of Reps give CBN, AG six weeks to provide audit reports on TSA

The House of Representatives has given the Central Bank of Nigeria (CBN) and the Office of the Auditor General of the Federation (OAGF) six weeks to provide it with detailed reconciliation and audit reports of the amounts generated so far in the Treasury Single Account (TSA). The House said it’s ultimatum was necessitated by the need to know the current ...

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President Buhari pushes for Auditor-General’s Autonomy

President Muhammadu Buhari, has pushed for the autonomy of the Office of the Auditor-General of the Federation OAuGF. He has therefore urged the National Assembly to amend relevant legislations with a view to giving the Auditor-General adequate powers to carry out his mandate in all the arms of government. The Minister of Finance Kemi Adeosun, presented  president’s position at the ...

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United Labour Congress Suspends Strike

The United Labour Congress (ULC) has suspended its industrial strike action which was embarked on recently. President of the union, Joe Ajaero made this announcement after a meeting between the Labour Minister, Chris Ngige and the workers of the union in Abuja, on Wednesday. The Labour Minister had last week threatened to sanction members of the ULC if they proceed on ...

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Federal Government okays concession of Kano, Port Harcourt Airports

The Federal Government on Tuesday said it had approved the concession of Kano and Port Harcourt airports, as well as transaction advisers for the process. The Minister of State for Aviation, Hadi Sirika, disclosed this while speaking on the certification of Nigerian airports at the ministry’s headquarters in Abuja. On September 11, Vice President Yemi Osinbajo, said the Federal Executive ...

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Federal Government to ensure proper funding of road projects

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, said on Tuesday the Federal Government(FG) would henceforth ensure proper funding of various ongoing road projects across the country. The minister stated this in Abuja during a meeting with contractors handling various federal governments’ projects in the country. Fashola told the contractors that funds would be made available in line ...

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EXCLUSIVE: Read The Interesting Story Of An Edo State Born Engineer Making Nigeria Proud In Germany

Engr. Francis Olobor Gone are those days when people regard our sons and daughters living in Europe as street urchins, drug barons and addicts and prostitutes. Those days are gone when Edo sons would sojourn to Europe and return with nothing, no certificate, no skills acquisition and no future.   Today, Olika Reporters can proudly report that Edo and Esan ...

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Forex: CBN to sanction erring banks

The Central Bank of Nigeria (CBN) has threatened to sanction any Deposit Money Bank (DMB) in breach of its earlier directive to open teller points for retail forex transactions and to have electronic display boards in all their branches, showing rates of all trading currencies. Meanwhile, the naira, yesterday appreciated to N359.06 per dollar in the Investors and Exports (I&E) ...

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ULC not recognised trade union – FG

The Federal Government said on Thursday that the United Labour Congress (ULC) was not a yet a registered and recognised Federation of the Trade Unions in the country. Sen. Chris Ngige, Minister of Labour and Employment said this at a news briefing in Abuja. News Agency of Nigeria (NAN) recalls that the ULC had earlier issued a 14-day ultimatum to ...

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NNPC sets up eight committees to rehabilitate refineries

The Nigerian National Petroleum Corporation, NNPC, has inaugurated eight committees charged with returning the nation’s three refineries to their nameplate capacities by the year 2019. A statement by Ndu Ughamadu, NNPC spokesperson, said the move was in line with the presidential mandate of rehabilitating the nation’s three refineries. The statement noted that the Group Managing Director of the Corporation, Maikanti ...

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China plans switch to bioethanol fuel by 2020

China plans to use bioethanol gasoline nationwide by 2020, the National Development and Reform Commission and National Energy Administration (NEA) said on Wednesday. “The plan was unveiled as the country is pushing the use of biofuel, which is renewable, applicable, tech-savvy and environmental-friendly. It is an ideal alternative to fossil fuel,” a senior NEA official said. Ethanol fuel, known as ...

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