There are indications that the federal government through the Nigerian National Petroleum Company Limited (NNPC Ltd) is now spending N17.72 billion daily to fund subsidy on petrol. Though still shrouded in secrecy, the funding strategy, it was learnt, is consummated by way of crude sales and direct cost recovery by NNPC, reports Vanguard. An e...
•Julius Abure The suspended National Treasurer of the Labour Party, Ms Oluchi Oparah, has challenged the party’s National Chairman, Julius Abure, to give an account of the donations received from Nigerians in the Diaspora during the campaign tour of LP presidential candidate, Peter Obi, in the United States. It was earlier reported that the na...
•Peter Obi The Labour Party presidential candidate for the 2023 general elections, Peter Obi, today said the party will give a transparent account of funds realised during the campaign process. Obi stated this during a press conference in Abuja today, amid the fresh crisis that has rocked the party over sales of forms and other […]
•Tinubu Members of Civil Society Organisations (CSOs) and eminent citizens have questioned executives’ use of taxpayers’ resources for so-called private visits of the president and governors, describing it as an “abuse of office” and prodigal use of scarce resources. They decried the rate at which other public officers, top civil servants and ...
The International Air Transport Association (IATA) has lauded the Central Bank of Nigeria (CBN) for releasing $64.44 million in blocked airline funds, but said $700 million remains blocked in Africa’s most populous nation. The group disclosed it was in consultations with airline members to verify the release of these revenues, reports Channels...
•Forex The Economic and Financial Crimes Commission is investigating at least $347bn allocated to companies in Nigeria between January 2014 and June 2023, according to findings by our correspondents. This came as fresh findings show that the anti-graft agency has extended its forex allocation probe to include some foreign firms operating in Ni...
•House of Reps The leadership of the House of Representatives last night unveiled plans to commence an investigative hearing on the alleged mismanagement of COVID-19 Intervention Funds expended between 2020 and 2022. Chairman, House Committee on Media and Public Affairs, Hon. Akin Rotimi gave the hint via a statement made available to Parliame...
There’s a mounting pressure on the federal government to make significant releases to clear the foreign airlines’ trapped funds amidst their threat to exit Nigeria. This is despite the release of $61.4m by the Central Bank of Nigeria (CBN) last week as part of efforts to clear outstanding liabilities and bolster the foreign exchange market, [&...
The Pharmaceutical Society of Nigeria has called on the federal government to probe alleged corrupt cases made against some of the Chief Executive Officers of the Federal Health Institutions. A communique of the 96th annual national conference of the PSN, titled, ‘Jewel City 2023,’ also raised alarm over the unregistered two million drug selle...
The regime of crazy fares Nigerians have been subjected to by the foreign carriers operating in the country may soon be reviewed downwards as the federal government, through the Central Bank of Nigeria, has commenced part payment of over $800 million trapped funds of the airlines. This came just as the information reaching this paper […...