Economy

$322.5 Million(N116.11 billion) Abacha Loot Returned – Amb. Pio Wennubst

$322.5 Million(N116.11 billion) Abacha Loot Returned – Amb. Pio Wennubst

Economy, Politics
Switzerland said it has returned all the money kept in the country by late Head of State, Gen. Sani Abacha, with $1.5 million interest. Amb. Pio Wennubst, Assistant Director-General and Head, Global Cooperation Department, Swiss Agency for Development and Cooperation, told the Correspondent of the News Agency of Nigeria in New York. Wennubst said Switzerland returned about $322.5 million(N116.11 billion) to the Federal Government. According to him, the original amount was $321 million. The Federal Government had announced receipt of $322.51 million from the Swiss government as part of the looted funds recovered from the late former Head of State. Minister of Finance, Mrs Kemi Adeosun, through her Special Adviser, Media and Communications, Oluyinka Akintunde, had confirmed the r...
Oil Marketers Plotted To Cripple Me – Dr Okonjo-Iweala

Oil Marketers Plotted To Cripple Me – Dr Okonjo-Iweala

Economy, Politics
Former Finance Minister, Mrs. Ngozi Okonjo-Iweala, has alleged that there was a plan by oil importers and marketers to confine her to a wheelchair and force her out of office during the time she served under ex-President Goodluck Jonathan. But in a swift reaction, yesterday, the marketers under the aegis of Depot and Petroleum Products Marketers Association, DAPPMA, dared her to prove the allegation. However, according to Okonjo-Iweala, a friend to one of her brothers attended a meeting where the discussion held. She said the friend advised her brother that security should be beefed up around her. Okonjo-Iweala revealed this in her book entitled: ‘Fighting Corruption is Dangerous: The Story Behind the Headlines.’ She said: “My mother’s ordeal was not the end of frightening events

2019: Igbo President Will Help Nigeria Grow- Appostle Suleman

Breaking, Economy, Opinions, Politics
Apostle Johnson Suleiman of Omega Fire Ministries, has emphasized the need for the South East to produce Nigeria’s president. Addressing his church members yesterday, Suleiman said an Igbo president can create jobs for the teaming Nigerian youths. He, however, faulted the disunity among people of the South East, saying people of the region always fight each other. ”What we need in Nigeria now is an Igbo president. You want to create jobs for youths, get an igbo president. The Igbo man by nature knows how to do business. So if he adds academics to it, he will know how to create jobs. “But the problem is when an Igbo man becomes president, the person that will remove him is an Igbo man. In four years we had five senate presidents. From Enwerem to Okadigbo to
Photos: The Queen Hosts Buhari, His Wife To A Dinner In London

Photos: The Queen Hosts Buhari, His Wife To A Dinner In London

Economy, Politics
Nigeria’s President Muhammadu Buhari at The Queen’s Dinner during The Commonwealth Heads of Government Meeting (CHOGM), at Buckingham Palace in London on April 19, 2018. Britain’s Queen Elizabeth II, accompanied by Britain’s Prince Charles, Prince of Wales received Commonwealth Heads of Government and their spouses in the Blue Drawing Room, where the evening commences with a drinks reception.   ....culled
On-Shore/Off-Shore Dichotomy: Udom Holds Closed-Door Meeting With Osinbajo

On-Shore/Off-Shore Dichotomy: Udom Holds Closed-Door Meeting With Osinbajo

Economy, Politics
VICE  President Yemi Osinbajo and the governor of Akwa Ibom State, Mr Udom Emmanuel, yesterday met behind closed-doors at the Presidential Villa, Abuja. The meeting came on the heels of the alleged inflammatory statements by some political leaders on the onshore/offshore dichotomy occasioned by the report of the Governor Nasir el-Rufai-led committee to the ruling All Progressives Congress, APC, on restructuring. It will be recalled that the report of the Kaduna State governor’s committee on fiscal federalism and restructuring submitted to the APC on onshore/offshore dichotomy had made far reaching recommendations which didn’t  go  down well with some stakeholders from the oil-rich region. The Federal Government, though, claimed it had addressed grey areas relating to the sharing o
Oil Price May Crash: IMF To Nigeria

Oil Price May Crash: IMF To Nigeria

Business, Economy, Opinions
The International Monetary Fund (IMF) has  predicted that Nigerian economy will grow from 0.8 per cent in 2017 to 2.1 per cent by the end 2018, while warning of possible crash in crude oil prices. According to its latest World Economic Outlook (WEO) Report  launched in Washington DC on Tuesday, the Fund projected that Nigeria will also grow by 1.9 per cent in 2019. The IMF, however, advised oil-dependent economies, including Nigeria, to intensify economic diversification as the global body foresees the crash of crude oil prices in the near future. “Some low-income countries like Mozambique and Nigeria have experienced financial stress or deteriorating loan quality in recent years as growth has moderated and corporate balance sheets have weakened. “Further deterioration in loan
Sani Sidi And The Seven NEMA Looters

Sani Sidi And The Seven NEMA Looters

Economy, Health, Metro, Politics, Security
Mohammed Sani Sidi, the  director-general of the National Emergency Management Agency (NEMA) and seven of the agency’s directors  allegedly stole over a billion naira, $284,000 and £95,000, the Nigerian presidency has revealed. All the officials have been suspended from office. Alhaji Muhammad Sani Sidi A Presidency official said   Sani Sidi, maintained 20 different accounts in various banks despite his public servant status. The official alleged that the suspended staff had hurriedly and illegally taken the matter to the House of Representatives in a pre-emptive move to stonewall the ongoing investigations by the Economic and Financial Crimes Commission (EFCC) hoping for a cover-up. He said an authoritative report submitted to the Presidency by agencies involved in the investigation
Nigerians Has Been Enjoying Constant Power Supply Since Regime – Fashola

Nigerians Has Been Enjoying Constant Power Supply Since Regime – Fashola

Economy, Politics, Security, Technology
The Minister of Power, Works and Housing, Babatunde Fashola has insisted that Nigerians have been enjoying constant power supply under the administration of President Muhammadu Buhari. Speaking during the April 2018 edition of the monthly power sector operators’ meeting in Umuahia, Abia state, the minister noted that Nigerians had been spending less money on alternative power sources, such as fuel for generators, because the country’s power situation had improved. To Fashola, well-meaning Nigerians were aware of the improvement, noting that the government was doing its best to work harder for them and improve service delivery. The minister said, “We are on a journey to a destination of promise and eventual prosperity and I use this occasion to salute the effort
Grant Lagos Special Status And Have Our Support – Oba Akiolu To PMB

Grant Lagos Special Status And Have Our Support – Oba Akiolu To PMB

Breaking, Economy, Politics, Security
  Rilwanu Akiolu I the Oba of Lagos,has said the only way the people of Lagos will support President Muhammadu Buhari’s second term ambition is to grant the state a special status. Oba Akiolu made the remarks while speaking yesterday, during the second quarter of 2018 Town Hall Meeting with residents, at Apapa Amusement Park, Lagos. He in a reaction after the Senate rejected a bill to officially recognize Lagos as Nigeria’s commercial capital in 2016 had blamed former President Olusegun Obasanjo for Lagos not being granted a special status. Akiolu said: “During the recent visit of President Muhammadu Buhari to Lagos, I wanted to ask him that it was God and All Progressives Congress, APC, that helped to bring him to power, and that he must satisfy Lagos. “I expected
$6.7m Fraud: GlobacomLtd And Its Chief Marketing Officer, Ashok Israni Defrauds Emitac Mobile

$6.7m Fraud: GlobacomLtd And Its Chief Marketing Officer, Ashok Israni Defrauds Emitac Mobile

Economy, Foreign, Metro, Security, Technology
The telecommunications giant — GlobacomLtd and its Chief Marketing Officer, Ashok Israni — were on Monday hauled up before an Ikeja Special Offences Court over alleged 6.7 million dollars fraud (N2.41 billion). The Economic and Financial Crimes Commission (EFCC) had slammed a 6.7 million dollars fraud charge on Globacom and Israni who allegedly committed the offence against Emitac Mobile Solutions, a Dubai-based company. The News Agency of Nigeria (NAN) reports that Monday’s proceedings were, however, stalled following the absence of Israni and representatives Globacom in court for their arraignment. The defendants also had no legal representation. Addressing the court over the development, Mr Anselem Ozioko, the lead prosecuting counsel for the EFCC, said Globacom and Israni h
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