Finance articles

Appointment Propriety: Reps to Investigate Rufai Abubakar-NIA DG, $44m Cash Disappearance

Appointment Propriety: Reps to Investigate Rufai Abubakar-NIA DG, $44m Cash Disappearance

The  propriety of the appointment of the Director General ( DG ) of the National Intelligence Agency  (NIA), Rufai Abubakar by President Muhammadu Buhari is to be investigated by the House of Representatives, it emerged yesterday. Abubakar is also to be investigated over the alleged disappearance of $44m cash from the agency’s vault barely two

Naira Closes N360.65 At I & E Fx Window

The Investors and Exporters (I&E) foreign exchange window depreciated by 0.07 per cent on Monday to close at N360.65 amid Central Bank of Nigeria (CBN) sustained injection. Trading activities at the specialised window for investors and exporters opened at N360.33, traded high and low at N362.00 and N357 respectively on Monday. The naira at the

GIVE’N’TAKE Lottery Unveils Winner of 20 Million Naira National Jackpot Bonanza Prize

Give’n’Take lottery has unveiled Sidney Chukwuweike Osahon with ticket number 706431113814 as the winner of 20 Million naira National Jackpot Bonanza. The unveiling ceremony started with a press conference at the company Corporate Headquarters in 25 1st Avenue, Gwarinpa Abuja. Addressing journalists, the Managing Director and Chief Executive Officer of Give’n’Take, Jolly Enabulele said that

FG monetises N280m cars for Obasanjo, Gowon, Jonathan, others

The Federal Government approved N280.1m cash payments to former Presidents and Heads of State in 2017 to buy cars. Out of the money, N40m had already been released, but final releases would tally at “100 per cent.” There is an outstanding balance of N240.1m to be paid to the former leaders. Vehicles worth N120m were

Federal Govt owes road contractors N2.7trn, says Fashola

The Federal Government owes road contractors over N2.7 trillion,  Minister of Power, Works and Housing Babatunde Fashola has said. Fashola spoke yesterday during an oversight assessment visit of the 2017 budget by members of the Toby Okechukwu-headed House Committee on Works to the Federal Ministry of Works. According to the minister, a major portion of

Uncertainty Looms over Inflation, Growth as MPC is Placed on Hold

• Senate refuses to budge on screening of nominees Strong indications emerged Sunday that the Senate may not budge on its resolve not to consider President Muhammadu Buhari’s nominees for the vacant positions on the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), with just two weeks left to the first meeting of the committee this

Innoson boss, Innocent Chukwuma, released on bail

Economic and Financial Crimes Commission has released the statement below announcing the release of Innocent Chukwuma, the chief executive officer of Innoson Motors. The businessman was released on bail, the EFCC said. READ FULL STATEMENT BY THE EFCC BELOW The Economic and Financial Crimes Commission has released Nnewi, Anambra-State born Industrialist, Chief Innocent Chukwuma on

Why we arrested Innoson Motors chief, Innocent Chukwuma – EFCC

The Economic and Financial Crimes Commission, EFCC, has explained why it arrested owner of INNOSON Motors, Chief Innocent Chukwuma. The anti-graft agency said it arrested Chukwuma following his refusal to honor its invitation after jumping an administrative bail EFCC in a statement by its spokesman, Wilson Uwujaren, confirmed that the INNOSON boss is being investigated