The Nigeria Extractive Industries Transparency Initiative, NEITI, says it is strategizing to ensure that N69.5 billion and $5.31 billion statutory revenue yet to be paid to government accounts were fully recovered. Dr Orji Ogbonnaya Orji, the new Executive Secretary, disclosed this at a maiden news conference in Abuja, on Tuesday. He said that the amount was revealed on its 2018 audit report and that the agency would focus on remedial issues disclosed in most of its audit reports. “The Current NEITI Management under my leadership is already evolving policies and strategies that would ensure that the recommendations in our reports…
Author: Abdallah el-Kurebe
The Benue House of Assembly has suspended chairperson, Vandeikya local government council of the state, Mrs Kukase Garba, for three months, for misappropriating public fund. This followed the adoption of a motion by Mr Damian Cheme, Majority Leader and seconded by Minority Leader, Mr Bem Mngutyo at Tuesday’s plenary in Makurdi. This motion was sequel to a letter by Gov. Samuel Ortom, requesting approval of the house for her suspension. Ortom said he received a letter from Vandeikya legislative council indicating a Vote of No Confidence on the suspended chairperson. “The council accused the chairperson of not informing it of…
President Yemi Osinbajo says the integration of artisanal and modular refinery operators into mainstream oil and gas sector will boost local content in the industry. Osinbajo’s spokesman, Laolu Akande, in a statement on Tuesday in Abuja, said the vice president spoke virtually at the National Summit on the Integration of Artisanal and Modular Refinery Operations in Nigeria. The vice president said that such integration would advance the use of home-grown technology in the refining of petroleum products. “We are confident that the integration of artisanal and modular refinery operations into the oil and gas sector will not only promote the…
The Chairman of the Economic and Financial Crimes Commission, EFCC, Mr Abdulrasheed Bawa, says from June 1, 2021, all bankers in the country must declare their assets in line with the Bank Employees Declaration of Asset Act. Bawa stated this when he fielded questions from State House correspondents after a closed door meeting with President Muhammadu Buhari at the State House, Abuja, on Tuesday. According to him, assets declaration by bankers and financial institutions is part of the measures meant to ensure that the country is free of financial crimes. He said: ”We are doing our best to ensure that…
The nation’s bourse rebounded on Tuesday with N83 billion following buying interest in Dangote Cement and MTN Nigeria Communications, MTNN. Specifically, the market capitalisation inched higher by 158.97 points or 0.41 per cent to close at N20.258 trillion from N20.175 trillion achieved on Monday. Also, the All-Share Index improved by 158.97 points or 0.41 per cent to 38,720.81 compared with 38,561.84 recorded on Monday. Consequently, the month-to-date and year-to-date losses moderated to 2.7 per cent and 3.9 per cent, respectively. The gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Dangote Cement, Guinness Nigeria,…
The Federal government has said that it planned to upgrade four national soil and water laboratories in the country, to the standard of the International Center for Research in Agro Forestry (ICRAF). The four national soil and water laboratories to be upgraded are located in Ibadan, Umudike, Kaduna and Abuja. The Minister of Agriculture and Rural Development, Alhaji Muhammad Nanono disclosed this at the opening of the National workshop on soil survey and soil fertility mapping, on Tuesday, in Abuja. The theme of the workshop was “Enhancing food security in Nigeria through the production of detailed soil survey and soil…
The African Development Bank (AfDB) has urged African governments to establish a financial stabilisation mechanism for a comprehensive plan for debt restructuring. President of the AfDB, Dr Akinwumi Adesina, said this at the launch of the bank’s 2021 edition of its annual African Economic Outlook, according to a statement from its office on Tuesday. Debt restructuring is a process that allows a private, public or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continue its operations. Also, a debt becomes delinquent when…
The Nigeria Immigration Service (NIS), Katsina State Command, said it has succeeded in arresting two suspected human traffickers and rescued 18 victims, including a 3-year-old baby. The NIS Comptroller, Mr Muazu AbdulRazaq, disclosed this on Tuesday in Katsina during a press briefing. He said that the suspects were arrested by NIS operatives attached to Charanchi patrol base, following an intelligence report. AbdulRazaq said that the operatives were able to arrest the two suspected traffickers, while one other suspect escaped, abandoning his vehicle. According to him, the two suspects, “mischievously arranged a fake marriage to enable them traffic two minors who…
The Central Bank of Nigeria, CBN, and the Nigerian Communications Commission, NCC, have introduced new charges on customers for the Unstructured Supplementary Service Data, USSD, services, effective March 16. This is contained in a joint statement issued on Tuesday by the CBN and the NCC on pricing of USSD services posted on the apex bank website. The joint statement was signed by the CBN’s acting Director, Corporate Communications, Mr Osita Nwanisobi, and NCC Director, Public Affairs, Mr Ikechukwu Adinde. It said effective March 16, USSD services for financial transactions conducted at Deposit Money Banks (DMBs) and all CBN-licenced institutions would…
President Muhammadu Buhari met behind closed doors with the outgoing President Mahamadou Issoufou of the Republic of Niger at the State House, Abuja on Tuesday. The Nigerien leader, who arrived at the Presidential Villa at about 11.45 a.m. was welcomed by the president at the forecourt of the villa. The two West African leaders would deliberate on sub-regional issues including security challenges occasioned by the activities of Boko Haram insurgents. Issoufou, it was gathered, would use the opportunity of the meeting to thank President Buhari for the support and assistance rendered to his country during his first and second terms…