Nigeria’s House of Representatives Committee on Public Accounts has ordered the Corporate Affairs Commission (CAC) and the Federal Inland Revenue Service (FIRS) to provide the details of the companies involved in the N18 billion bush-clearing contracts of the Federal Ministry of Agriculture and Rural Development (FMARD). The committee’s chairman, Hon. Oluwole Oke, gave the directive […]
The Nigeria Social Insurance Trust Fund (NSITF) told the Senate Committee on Public Accounts that some of its payment vouchers had been eaten up by termites, thereby failing to justify the spending of N17.16 billion in 2013 with the required documents. The N17.158 billion, which was queried in the 2018 Audit Report of the Office […]
As the controversies over Seplat Energy Plc’s intention to acquire assets of Mobil Producing Nigeria Unlimited (MPNU) rage on amid serious concerns among investment and legal experts, Proshare Limited’s analysts have linked the confusions over the process to flaws in the just enacted Petroleum Industry Act (PIA) 2021. The investment research and consulting services’ analysts […]
Tracka, BudgIT’s service delivery promotion platform which allows citizens to collaborate, track and give feedback on public projects in their communities, stated at the weekend that it found that N58.2 billion of the N100 billion constituency projects was allocated to empowerment projects. In a statement on the alleged misappropriation of the fund, the civil advocacy […]
The Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, has hinted that over 200 illegal refineries are operating in the country, even as efforts to reactivate government-owned refineries are yet to yield the desired results. Kyari gave this hint when he appeared before the House of Representatives Joint […]
The Nigeria Deposit Insurance Corporation (NDIC) has restated its commitment to its mandate by ensuring that depositors’ funds are secured and by so doing, support the monetary authorities’ efforts to ensure the nation’s financial system stability. The NDIC’s Managing Director, Mr Bello Hassan, made this promise at a retreat with the theme ‘Deposit Insurance In […]
The Nigeria Economic Zones Association (NEZA), the umbrella body of Free Trade Zones operators and enterprises in the country, has cautioned the National Assembly and government agencies not to take actions that are inimical to attracting $25 billion Foreign Direct Investments (FDIs) yearly to the country through the Special Economic Zones’ scheme. The association’s Executive […]
The Secretary to the Government of the Federation (SGF), Boss Mustapha, has made a case for amendment of the Establishment Acts of Federal Government Owned Enterprises (FGOES) to reflect the current economic realities in the country. Mustapha made the call for the legislative action in his keynote address delivered at a Retreat for Chief Executives […]
A court of the Economic Community of West African States (ECOWAS) has ordered Nigeria to change its cybercrime law by following concerns that it is being used to silence journalists and dissidents. The suit, which was filed by Socio-Economic Rights and Accountability Project (SERAP), a non-governmental organization, centred around Section 24 of the 2015 Cybercrime […]
The House of Representatives ad-hoc committee on unclaimed funds in commercial banks on Wednesday disclosed that it had uncovered over N300 billion unclaimed funds in the banks. The Chairman of the committee, Hon. Uyme Idem, who gave this figure on Wednesday in Abuja, said that the amount represented a mere fraction of the value of […]