archiveJune 2017

The Federal Government of Nigeria (FGN) has said that it has released about N375.8 million for payment of 20 whistleblowers who provided information that led to the recovery of over N11.6 billion. The Ministry of Finance, which confirmed the release in a statement on Wednesday, said the payments were the...

Royal Dutch Shell lifted force majeure on exports of Nigeria's Forcados crude oil, a spokeswoman said on Wednesday, bringing the country's oil exports fully online for the first time in 16 months. "SPDC is grateful to various stakeholders, particularly the federal and Delta State governments, security agencies, NNPC and communities...

The Governor of Bayelsa State, Henry Seriake Dickson on Tuesday advised leaders and members of the Peoples Democratic Party (PDP) not to lose hope, but remain in the party. The assurance by the governor that PDP would bounce back soon, came as Supreme Court prepares to deliver judgement on the...

Acting President, Prof. Yemi Osinbajo, has written to the Senate, requesting approval for one billion, four hundred and ninety-two million, four hundred thousand dollars ($1,492,400,000,00) external loan. Senate President, Bukola Saraki, while reading the letter at plenary, on Tuesday, said, the loan was part of the federal government’s external borrowing...

Just like Nigeria, South Africa has entered recession for the first time in eight years, data from Statistics South Africa showed on Tuesday. Data from Statistics South Africa in Pretoria showed the first quarter contraction was led by weak manufacturing and trade. According to the data, South Africa’s economy contracted...

• Says “we’ll finish whatever we start” The Buhari administration is promoting a new way of thinking and engagement that will secure the development of the Niger Delta and the entire country, Acting President Yemi Osinbajo, SAN, has said. That new approach, which he restated as the New Vision, according...

Nigeria is one of the most profitable places in the ECOWAS sub-region for business and investment, Acting President Yemi Osinbajo, SAN, has affirmed. Prof. Osinbajo spoke while meeting the Foreign Minister of Indonesia, Mrs Retno L. P. Marsudi at the Presidential Villa, Abuja. According to the Acting President, with her...

The Senate on Tuesday said that policies of the Central Bank of Nigeria (CBN) and activities of commercial banks are strangulating Small and Medium Enterprises (SMEs) in the country. The upper chamber also claimed that a cartel has effectively taken over the control of commercial banks in the country to...

The Economic and Financial Crimes Commission (EFCC) on Tuesday said it had secured 340 convictions and recovered billions of dollars in stolen funds within the last six months. EFCC Acting Chairman, Ibrahim Magu, represented by the commission’s Secretary, Mr Emmanuel Adegboyega, said this in Abuja at the launch of law...

Justice Muslim Hassan of the Federal High Court, Lagos, on Tuesday ordered the permanent forfeiture of the sums of $43,449,947, £27,800 and N23,218,000 recovered from No. 16, Osborne Road, Flat 7B Osborne Towers, Ikoyi, Lagos, to the Federal Government. The funds stashed in iron cabinets and “Ghana-must-go” bags in the...