Exposed! NNPC withdrew N1.4tr subsidy from crude sales

Exposed! NNPC withdrew N1.4tr subsidy from crude sales

Contrary to the practice where subsidy payments are claimed from the Petroleum Support Fund (PSF) through the Petroleum Product Prices Regulatory Agency (PPPRA) by all qualified companies, the Nigerian National Petroleum Regulatory Corporation (NNPC) allegedly withdrew subsidy payment of N1.40 trillion from domestic crude oil sales proceeds before remittance to the Federation Account from 2009 […]

Dana Air crash: Senate seeks sack of NCAA DG, revocation of airline’s licence

Dana Air crash: Senate seeks sack of NCAA DG, revocation of airline’s licence

The Senate yesterday asked the Federal Government to sack the Director-General (DG) of Nigeria Civil Aviation Authority (NCAA), Dr. Harold Demuren. This followed the consideration of the report of its Committee on Aviation, which investigated the June 3, last year’s crash of Dana and Allied Airlines. The Dana Airline crash killed 153 passengers and crew […]

French Firm, Total evacuates staff from Abuja, Algeria

French Firm, Total evacuates staff from Abuja, Algeria

French oil major, Total, has moved its staff from Abuja following the kidnapping of a French national last month, Chief Executive Christophe de Margerie said on Friday. This is the first time in recent history that a company has said it has evacuated foreigners from Nigeria’s capital due to security concerns, Reuters reports. Western diplomatic […]

New Bank gets CBN licence: Heritage Bank begins operation Jan 29

New Bank gets CBN licence: Heritage Bank begins operation Jan 29

HERITAGE Bank, formerly Societe Generale Bank (Nig.) Ltd., SGBN, will commence commercial banking operation, Tuesday, January 29, following the approval granted it by the Central Bank of Nigeria, CBN. According to the terms of the CBN approval, Heritage Banking Company Ltd. which will trade as Heritage Bank is to offer full commercial banking services under […]

Common currency for West Africa not visible – Okonjo-Iweala

Nigeria has warned other West African countries that having common currency for the entire sub-region will be difficult to achieve. The Minister of finance, Dr. Ngozi Okonjo-Iweala, stated this at the 31st meeting of the convergence Council of Finance Ministers and governors of Central bank of West Africa nations, on Friday in Abuja. Okonjo-Iweala told […]

UNILAG Postpones Convocation As Jonathan Insists On MAULAG

UNILAG Postpones Convocation As Jonathan Insists On MAULAG

University of Lagos convocation earlier scheduled to take place between Thursday (today) and Saturday has been postponed indefinitely. Though the university did not state any reason for the postponement, sources claimed that the development followed President Goodluck Jonathan’s insistence to rename UNILAG as Moshood Abiola University of Lagos and effect the change in its certificates […]

Federal Govt. Denies Buying Phones Worth N60b For Farmers

The Federal Government has again denied the report making the rounds that it has set aside N60 billion to fund cellphones for farmers in the country. The Minister of Agriculture, Dr. Akinwunmi Adesina, on Monday said there is no N60 billion anywhere to be used to buy cellphones.` He also said government will not be […]

We need funds not phones, says farmers

We need funds not phones, says farmers

Farmers across the country have criticised the plan by the Federal Government to distribute mobile phones to 10 million farmers. They described it as a misplaced priority. Some of them who spoke to SUNDAY PUNCH said they needed access to funds instead. A member of the All Farmers Association of Nigeria in Delta State, Dr. […]

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