Patience Jonathan Loss Billions To Federal Government

In what appears to be a giant fight on corruption, on Monday 1st July 2019 Federal High Court sitting in Lagos granted the Federal Government of Nigeria permanent forfeiture of the sum of $8.4 million and N9.2 billion, respectively traced to the accounts of President Goodluck Jonathan's wife, Patience.

FG Inaugurates SEC Board

Barely three years after it chairman was dismissed, the Federal Government of Nigeria, led by President Muhammad Buhari on Monday inaugurated the Board of the Securities and Exchange Commission (SEC). The ceremony which was conducted by the Permanent Secretary of the Federal Ministry of Finance, Alhaji Mahmoud Isa-Dutse, in Abuja will have Mr. Olufemi Lijadu as Chairman of the Board of the Commission.

Oil Prices Rise As OPEC And Allies Agree Extend Supply Cuts

Oil prices rose more than one dollar a barrel on Monday after Saudi Arabia, Iraq and its allies backed an extension of supply cuts until at least the end of 2019 at their meeting in Vienna this week. Front-month Brent crude futures, for September, touched an intraday high of $66.63 a barrel and were up $1.72, or 2.7%, at $66.46 a barrel by 0639 GMT.

Court Orders Arrest of Innoson CEO

Following a ruling by Justice Ayokunle Faji of the Federal High Court in Ikoyi Lagos state, Chief Executive Officer of Innoson motors, Innocent Chukwuma have been directed to appear in Court or being risk being arrested. The bench warrant is premised on allegations of fraud traced to the CEO and two others.

FG, States, LGCs share N679.69bn for May

A total of N679.69 billion has been shared as revenue for the month of May between the Federal Government, States and Local Government Councils in Nigeria. The Accountant General of the Federation (AGF), Alhaji Ahmed Idris, disclosed this shortly after the Federation Account Allocation Committee (FAAC) meeting in Kano on Thursday.

Despite US-IRAN Tension, Oil Prices Gains

Oil prices rose significantly on Monday, 24th June 2019 to extend its preceding gains from last week of the month of June 2019. The development came as surprise to many experts due expectations over possible dwindling of the global economy, as tensions remain high between Iran and the United States of America.

Senior Civil Servants Threaten To Embark On Strike

Federal Senior Civil Servants in the country, have threatened to down tools over alleged breach of public service rules and non-implementation of agreements entered into with the management of National Insurance Commission, NAICOM.

RMAFC Insists On Bank's Probe For Tax Collection Verification

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Sunday said there was no going back on the on-going probe of Money Deposit Banks to ascertain the amount of money they collected on behalf of revenue generating agencies of the government.

Kano RIFAN Threatens Legal Action Against Defaulting Beneficiaries Of CBN-Anchor Borrower Programme

The Kano State branch of the Rice Farmers Association of Nigeria (RIFAN) has threatened to take legal action on benefiting farmers who failed to repay the CBN-Anchor Borrower loan granted to them. While Addressing press, the state Chairman of the Association, Alhaji Abubakar Haruna Aliyu revealed that the association was concerned about the lackadaisical manner of some farmers in refunding the Anchor Borrower loan issued to them in 2018.

FG To Inaugurate SEC Board On Monday

The Federal Government will on Monday inaugurate the board of the Securities and Exchange Commission to be chaired by Mr. Olufemi Lijadu.