Sidebar

Exclusive Reports

29
Mon, Apr

The Senate is launching investigations into allegations that the Ministry of Power, Works and Housing is planning to divert the $350million from the Nigerian Sovereign Investment Authority NSIA to fund Fast Power Projects.

The Senate’s decision to begin the probe follows a motion by Senator Dino Melaye who is alleging that the Ministry of Power, Works and Housing is plotting to retrieve the money in NSIA which is meant for states owned Nigeria Electricity Bulk Trading Company and divert it for its Fast Power Project.

Contrary to media reports that stakeholders in the Peoples Democratic Party are lobbying the former Vice President, Atiku Abubakar to return to the party with an automatic presidential ticket as bait, the Board of Trustee Chairman of the Party, Sen. Walid Jibril said there would be no automatic ticket for any candidate seeking to fly the party's flag.

The Senate on Wednesday resolved to Mandate the Central Bank of Nigeria, CBN, to sanction Stanbic IBTC for the improper documentation of capital repatriation and loan repayments amounting to $388,195,183 and $199,440,952.07 respectively.

The resolution was among many reached after the Senate considered the report of its Committee on Banking, Insurance and other Financial Institutions on the Unscrupulous Violations of the Foreign Exchange Act by MTN.

The Nigerian Police, on Wednesday, in a dramatic turn of events, withdrew the 90-count charge instituted against the National Commandant of the Peace Corps of Nigeria (PCN), Amb (Dr.) Dickson Akoh, and amended the charges to 13. However, a new 13-count charge has been brought to replace the initially filed 90-count charge.

The Peoples Democratic Party (PDP) has accused the ruling All Progressives Congress (APC) of using "the compromised Economic and Financial Crimes Commission (EFCC)" to harassment members for "no justifiable reason."

In a statement signed by the party's national publicity secretary, Dayo Adeyeye, on Wednesday, the PDP said the intimidation of its members by the APC was to the opposition into submission ahead of the 2019 elections.

The Inspector General of Police, Mr Ibrahim Idris, appeared before the Senate committee investigating the allegations of corruption levelled against him by Senator Isa Misau.

Channels TV reported that the police boss was questioned Wednesday by the committee.

President Muhammadu Buhari yesterday ordered all government ministries, departments and agencies (MDAs) from engaging in any form of recruitment without obtaining presidential clearance. The decision is to prevent swelling their expenses and ultimately altering the implementation of the budget.

More Articles ...