Tag: BUSINESS

CBN, NNPC, Others Face Senate Probe Over Fuel Subsidy

CBN, NNPC, Others Face Senate Probe Over Fuel Subsidy

Breaking, Business
The Senate Committee Chairman, Public Accounts, Senator Mathew Urhoghide has disclosed that his Committee has concluded arrangements to probe NNPC’s payment of fuel subsidy despite non provisions in 2016 and 2017 appropriations. Other agencies to answer questions on the sources of funds used for subsidy payment, he said, are “the Central Bank of Nigeria (CBN), Federal Ministry of Finance, Office of the Accouantant General for the federation and the Auditor General for the federation.” The public hearing which was slated for Tuesday next week would have major and Independent Oil marketers and other stakeholders in attendance. The lawmaker expressed concern that responsible agency like the NNPC could pay fuel subsidy in billions of naira without a legal instrument backin
Why We Earmarked N4.9bn For Aso Rock Electrical Maintenance – DG Budget

Why We Earmarked N4.9bn For Aso Rock Electrical Maintenance – DG Budget

Breaking, Business
The Federal government has explained why it earmarked N4.9 billion for annual electrical maintenance in the Presidential Villa, Aso Rock. It said the reason was to keep the facilities in good shape. The Director General Budget Office, Ben Akabueze, said this yesterday in Abuja during an engagement with the media and civil society on the 2018 proposed budget. “The Villa is quite an expansive edifice with several residences and support services, so as significant as N4.9 billion sounds, it is not too much to keep those facilities in top shape that they have been kept. Anyone who has been to the villa will appreciate that it is one of the best maintained edifice in the country,” he said. He also justified the proposed N2.2bn earmarked for the DSS for a supposed social media mining
Attack On Igbo Businesses – Innoson Opens Up On Arrest By EFCC

Attack On Igbo Businesses – Innoson Opens Up On Arrest By EFCC

Breaking, Business
The Chief Executive Officer (CEO) of Innoson Group, Innocent Chukwuma has dismissed the reports that his arrest by the Economic and Financial Crimes Commission (EFCC) had an ethnic undertone. According to News Express, the businessman said this when he addressed a large crowd which thronged his residence on Saturday. “It {his arrest} has no tribal or zone undertone but was purely business-related,” the newspaper quoted him to have said. Operatives of the anti-graft agency picked Chukwuma up from his Enugu residence on Tuesday. This sparked a controversy, with a social media campaign that Guaranty Trust Bank (GTB) should be blacklisted for purportedly being behind the ordeal of the billionaire businessman. The Indigenous People of Biafra (IPOB) had weighed in on the issue, alleging tha
Okorocha Speaks On His Political Enemies

Okorocha Speaks On His Political Enemies

Breaking, Politics
Imo State Governor, Rochas Okorocha, on Monday said that he has no political enemy in the state, except “faceless groups that operate in the social media”. According to him, the elite whose only interest is 2019 governorship election do not constitute any threat to his administration and the All Progressives Congress (APC) in the state. Okorocha made this known in a statement signed by his Chief Press Secretary, Mr. Sam Onwuemeodo. The statement reads: “We want to take the floor once again to inform the general public that Governor Rochas Okorocha and his Rescue Mission Administration does not have any opposition in the state. “The few elite whose simple and compound interest is 2019 governorship in the State do not constitute any opposition in the proper sense of t
November Revenue: FAAC Distributes N609bn To The Three Tiers Of Government

November Revenue: FAAC Distributes N609bn To The Three Tiers Of Government

Breaking, Business, Economy, Metro, Politics
The Federation Account Allocation Committee (FAAC) has distributed N609.95 billion from the Federation Account to Federal, States and Local Government as revenue generated in the month of November. The Accountant-General of the Federation, Mr Ahmed Idris, made this known while briefing the media on the outcome of the monthly FAAC meeting which held on Saturday in Abuja. He said the amount distributed showed an improvement of N77.25 billion compared with what was shared last month. Idris added that after deductions as cost of collection by FIRS, Customs and DPR, the Federal Government received N248.2 billion, representing 52.68 per cent; states and N125.9 billion, representing 26.72 per cent. Local governments, he said, received N97.06 billion, amounting to 20.60 per cent of...
People Celebrated The Day I Had Erection- Music Star Speaks On Sexual Life

People Celebrated The Day I Had Erection- Music Star Speaks On Sexual Life

Breaking, Business, Entertainment, Gossip, Health
Yinka Ayefele has spoken concerning his sexual life after he survived a spinal cord accident that almost ended his life on December 12, 1997. Yinka revealed that the first day he had an erection while on sick bed, everyone was excited because the doctors had concluded that he would never be able to perform sexually again. Yinka Ayefele has spoken concerning his sexual life after he survived a spinal cord accident that almost ended his life on December 12, 1997. Yinka revealed that the first day he had an erection while on sick bed, everyone was excited because the doctors had concluded that he would never be able to perform sexually again.
Fuel Scarcity To Worsen As PENGASSAN Reveals Possible Strike Action

Fuel Scarcity To Worsen As PENGASSAN Reveals Possible Strike Action

Breaking, Business, Economy, Metro, Opinions, Politics
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has said it will embark on indefinite strike beginning from Monday,. This development expected to deepen the current fuel crisis in some parts of the country follows a stalemate in the peace meeting the Minister of Petroleum Resources, Dr Emmanuel Kachikwu, brokered between the union and Neconde Energy Limited. PENGASSAN and Neconde have been embroiled in crisis over allegation of anti-worker practices. PENGASSAN, the umbrella body of senior workers in the oil and gas sector, alleged that the management of Neconde wrongly terminated the employment of some of its workers, threatening to go on strike if the sacked workers were not recalled within 72 hours. The matter ...
Tokyo Stocks Open Flat Amid Russia Probe Jitters

Tokyo Stocks Open Flat Amid Russia Probe Jitters

Breaking, Business, Economy, Foreign
Tokyo stocks opened flat on Monday after three days of gains, as cautious investors watched developments in the FBI probe into alleged Russian meddling in the US election. The benchmark Nikkei 225 index was up 0.01 percent, or 2.94 points, at 22,821.97 in early trade while the broader Topix index gained 0.16 percent, or 2.92 points, to 1,799.45. It will be “a week of patience” as investors keep a wary eye on US political developments and economic indicators, Okasan Online Securities said in a note. But a weaker yen, which is positive for Japanese exporters, helped prop up the market. “‘The Russia-gate’, unless it stalls US tax reform, would only have a limited impact on (Tokyo) markets,” Okasan added. Among economic data to be released this week is a key US jobs report due o
ORBITNEWS: Newspaper Headlines Today December 4

ORBITNEWS: Newspaper Headlines Today December 4

Breaking, Metro, Politics
ORBITNEWS: Newspaper Headlines Today December 4 Headlines from The Nation Nigeria committed to leading role against extremism, says Buhari IBB, Jonathan reject PDP governors choice for chair Maina: ‘AGF, HOS didn’t inform Dambazzau’ of reinstatement Senate begins oversight of Kaduna Power Plant Turai Yar’Adua’s N10b Abuja cancer centre abandoned No cause for alarm over terror alert, says Fed Govt ASUU criticises Kogi, Lagos over ‘illegal sack of varsities’ teachers, others Emefiele is best CBN Governor ever, says Ovia Zubair is acting SEC D-G ACF condemns Biu attack PDP members defect to APC in Gboko Ahmed, Saraki mourn industrialist Adesoye Amosun to distribute C of Os Recovered weapons in Ondo unsettles Presidency PDP wins Akwa Ibom council p
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