FG made N1 trillion in January – CBN

FG made N1 trillion in January – CBN

The federally collected revenue increased by 11.7 per cent to N1.008 trillion in January this year as against the N890.097 billion realised in December last year, the Central Bank of Nigeria (CBN’s) economic report for January 2012 has shown.   The amount also exceeded what was realised by the Federal Government in the corresponding period […]

House moves to redress N52bn unclaimed dividend

House moves to redress N52bn unclaimed dividend

Worried by the increasing volume of unclaimed dividend, the House of Representatives has mandated its committee on capital markets to conduct an investigation.   Unclaimed dividends in the Nigerian capital market stood at N52.2 billion as at December 31, 2011, according to the Securities and Exchange Commission (SEC).   SEC has accordingly welcomed the decision […]

Seven BDCs used to steal N38 bn – EFCC

Seven BDCs used to steal N38 bn – EFCC

The Economic and Financial Crimes Commission, EFCC, has thrown more light into how five civil servants in the Office of the Head of Civil Service of the Federation, used seven different bureau de-change operators, to steal over N38 billion from pension funds.   At the Federal High Court in Abuja, the anti-graft agency also described […]

Federation account: Govs meet over deduction

Federation account: Govs meet over deduction

State governors under the aegis of the Nigeria Governors’ Forum, NGF, will today meet in Abuja to deliberate on the lingering problem of heavy deductions by the Federal Government from the Federation Account in the name of fuel subsidy. Director-General of Forum, Asishana Okauru, said at the weekend that top on the agenda for this […]

Tension as House prepares to debate subsidy probe report

Tension as House prepares to debate subsidy probe report

The submission of the probe report into the management of fuel subsidy and its planned debate on the floors of the House of Representatives is set to heat up the polity with the planned move by those indicted to force the removal of the Speaker of the House of Representatives, Aminu Tambuwal. The Post understands […]

Signs of depression you must know

Signs of depression you must know

Black dog, the blues, down in the dumps, the vapours – whatever you call it, it’s a rare human who doesn’t feel low from time to time. But occasional sad days are a million miles from true depression. Though many casually use the term “depressed” to describe their glum moments, the condition is much more […]

Subsidy Fraud: FG sacks Akintola Williams, Adekanola

Subsidy Fraud: FG sacks Akintola Williams, Adekanola

The Federal Government has sacked the accounting and auditing firms of Akintola Williams & Co and Adekanola & Co, following the shoddy oversight function they performed on behalf of government in the management of the petroleum subsidy scheme. The two were engaged by the Federal Ministry of Finance to verify documentations and claims submitted by […]

Supreme Court judgment leaves Sylva open to corruption trial

Supreme Court judgment leaves Sylva open to corruption trial

Former governor of Bayelsa State, Timipre Sylva’s defeat at the Supreme Court may have stripped him of the last line of defence against trial for alleged corruption. Sylva lost his lost his legal challenge to his non-declaration as the governorship candidate of the Peoples Democratic Party (PDP) in the last governorship election of the state […]

Saraki, former bank MD in police net over N8 bn loan

Saraki, former bank MD in police net over N8 bn loan

Former interim Managing Director of the defunct Intercontinental Bank Plc, Layi Alabi, in under investigation for his role in illegally writing off an N8 billion loan owed the bank by Senator Bukola Saraki and his companies. Alabi is already in police detention while Saraki is sought as part of the anti-fraud unit’s investigation of questionable […]

Subsidy fraud pits presidency, house against each other

Subsidy fraud pits presidency, house against each other

The Presidency and the House of Representatives may be heading for a clash following the release of the report of the subsidy probe and the insistence of the House to ensure implementation of its recommendations. The Ad Hoc Committee on Monitoring of the Subsidy Regime, headed by Honorable Farouk Lawan, made far-reaching recommendations chief of […]