Finance articles

Paris Club Refund: How Firm Plagiarised To Receive N1.2 Billion – EFCC

Paris Club Refund: How Firm Plagiarised To Receive N1.2 Billion – EFCC

Justice Mojisola Olatoregun of the Federal High Court, Ikoyi, Lagos, on Friday deferred judgment in an application filled by the Economic and Financial Crimes Commission (EFCC) seeking the final forfeiture of N1.2 billion (N1,222,384,857.84) recovered from the account of Melrose General Services Company Limited as well as another N220 million recovered from two other companies.

We’ll prosecute Bello for double registration, says INEC

The Independent National Electoral Commission says its allegation of double registration against Governor Yahaya Bello of Kogi State still stands.   “The allegation of double registration has not been swept under the carpet; we cannot prosecute Bello now because he enjoys immunity as a sitting governor.   “He has committed an offence and we shall

Nigeria got $12.2b capital inflows in 2017, says NBS

The value of capital imported into Nigeria for the full year ended December 31, 2017 stood at $12.2 billion, a report from the National Bureau of Statistics (NBS) released yesterday said. The figure represents massive improvement from $5.38 billion recorded in the previous year. It also said that capital importation for the fourth quarter of

Senate Threatens to Pass 2018 Budget Without Submissions From Recalcitrant MDAs

The Senate on Wednesday threatened to pass the 2018 budget without submissions from recalcitrant Ministries, Departments and Agencies (MDAs). This threat followed the observation by the Vice Chairman, Senate Committee on Appropriation, Senator Sunny Ogbuoji. Senate President, Abubakar Bukola Saraki had asked Ogbuoji to tell the Senate the position of the 2018 Appropriation Bill whose

President Buhari Withholds Assent To Peace Corps Bill

President Muhammadu Buhari has withheld assent to the bill seeking to establish the Peace Corps. The President informed the lawmakers of his decision in a letter reading during plenary on Tuesday by the Speaker of the House of Representatives, Yakubu Dogara. President Buhari cited security concerns and financial burden of funding the organisation by the

Naira remains stable against dollar, euro

The Naira on Monday remained stable as it traded at N362 to the dollar at the parallel market, same amount it was sold last Friday. The Naira also closed against the euro at N481 at same market in Lagos. Newsmen report that at the Bureau De Change (BDCs) window, the Naira also recorded same stability.

Chairman Downstream, Hon Joseph Demands N800bn Supplementary Budget For Fuel Marketers To End Scarcity

The House of Representatives is unhappy over the lingering scarcity of petrol in the country and has asked the Executive to submit a N800bn supplementary budget to the National Assembly to offset the debts allegedly owed fuel marketers. The House Committee on Petroleum Resources (Downstream) stated in Abuja on Sunday that if offsetting the debts