All is set for the trial of a former Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke, and four others in London for alleged corrupt practices.
The trial has been fixed for June and more evidence were hauled to the United Kingdom at the weekend.
Part of the evidence are the proceedings of Read More
Kola Aluko, a Nigerian oil mogul, wanted by the Economic and Financial Crimes Commission is owing the City of New York some overdue property tax.
The New York Post said the $25,000 tax is over Aluko’s 79th floor penthouse at One57 in Manhattan which he bought for $51 million in 2014.
The Read More
Apparently irked by the continuous imposition of the N50 stamp duty by the Deposit Money Banks, members of the organised private sector (OPS) are warming up for a serious legal battle with the Central Bank of Nigeria (CBN) and others.
Reports say the OPS, including the Nigeria Employers’ Consultative Association (NECA), Read More
Edo State Governor, Godwin Obaseki, on Saturday commended the Federal Government for releasing $1.5 million “Save a Million Lives” intervention fund to the state.
Obaseki gave the commendation when he received the Minister of State for Health, Dr. Osagie Ehanire, at the Government House in Benin City.
He said the fund, geared Read More
The Inspector General of Police (IGP) Ibrahim Idris has said that Nigeria was under policed because the police was underfunded.
A development, according to him had impeded the improvement of security in the country.
He made the statement in Sokoto when Government Secondary School, Farfaru Old Boys Association (FOBA) honoured him and Read More
Switzerland’s State Secretariat for Migration (SEM) is spending $450,000 on filming a TV series with African actors showing the perils of living in Europe illegally, which will be shown on Nigerian television.
“We have seen that a lack of information or false information is one of the main problems that leads Read More
A lady, identified as Bridget went live on Facebook with Nigeria's former president, Olusegun Obasanjo, and their conversation is so hilarious.
Nigeria's former president, Chief Olusegun Obasanjo, has been captured on camera in a hilarious video clip which emerged online few hours ago and has been buzzing on social media.
A lady Read More
According to Twitter reports sponsored by one TeeJay, sacked employees of Dangote Group of Companies, owned by the richest black man in the world, Aliko Dangote have openly advocated for the payments of their financial benefits.
A group of organised protesters carrying different placards stormed the Dangote head office at the Read More
EFCC, today February 23rd, 2017 arraigned one Gabriel Chimezie before Justice Tukur Muazu of the Kaduna State High Court, on a four count charge of Obtaining the sum of N3,420,000 by False Pretence.
The accused person allegedly induced the complainant through a phone call to part with the money under Read More
The Federal High Court in Abuja, on Thursday, refused to summon the detained ex-National Security Adviser, NSA, Col. Sambo Dasuki, Rtd., to explain why he gave N400million to former spokesman of the Peoples Democratic Party, PDP, Chief Olisa Metuh, prior to the 2015 presidential election.
Trial Justice Okon Abang dismissed as Read More
Cross River State Governor, Prof. Ben Ayade, has offered N1m cash reward to anyone who provides information that will lead to the arrest of kidnappers and armed robbers in the state.
The governor, who said the reward was an executive order christened “Hafiz law,” noted that it was meant to Read More
A Federal High Court sitting in Lagos has restrained Senator Stella Oduah and Sea Petroleum and Gas Company Limited from making any withdrawals from their accounts and those of three other companies domiciled with 21 commercial banks.
The other companies are Sea Shipping Agency Ltd, Rotary Engineering Services Ltd, and Tour Read More
A Senior Advocate of Nigeria (SAN), Kola Awodein, has reacted to news making the rounds that he gave Justice Niyi Ademola of the Federal High Court, currently standing trial for alleged corruption, the sum of N500,000.00 at the behest of President Muhammadu Buhari, during the contrived certificate issue affecting the Read More
A Senior Advocate of Nigeria (SAN), Kola Awodein, has reacted to news making the rounds that he gave Justice Niyi Ademola of the Federal High Court, currently standing trial for alleged corruption, the sum of N500k at the behest of Pres. Buhari, during the contrived certificate issue affecting the then Read More
Mother-of-four, FolorunshoAlakija, 62, began her vocation as a secretary in a bank then considered form and propelled a name, however her enormous break was oil.
According to Forbes, Oprah Winfrey is worth $2.9 billions Move over Oprah.
Nigerian oil tycoon Folorunsho Alakija, pictured in September, is now the richest black woman Read More
Who owns an account in which N8.4billion has been found?
This is the puzzle that detectives are battling to resolve, following the discovery of the bank account which has no signatories.
The huge deposit has been traced to a bank which is believed to have assisted the money launderers to convert the Read More
The Economic and Financial Crimes Commission, EFCC, has concluded arrangements to prosecute a Deputy Director of the Independent Electoral Commission, INEC, in Akwa Ibom State, and former Electoral Officer in Rivers State, Gogo Anderson Waribo for bribe taking.
Waribo allegedly collected N16 million out of the N23 billion slush fund linked Read More
Mr. Goji Mohammed, the 15th witness to testify in Badeh’s trial, said he was part of the EFCC team, led by Mr Isyaku Sharu, that conducted the search in Badeh’s house in Asokoro, Abuja.
Report says the ex-Chief of Defence Staff is standing trial on money laundering offence he allegedly committed Read More
A Katsina State High Court on Tuesday granted a former governor of the state, Ibrahim Shema and three others N1 billion bail and one reliable surety each.
Others standing trial with the governor are former Commissioner for Local Government Affairs, Sani Makana, former Permanent Secretary, Ministry for Local Government Affairs, Lawal Read More
A witness in the corruption trial of Justice Adeniyi Ademola has alleged that President Muhammadu Buhari gave the embattled judge N500,000 while his certificate controversy was pending beforethe Justice.
Some persons had filed a suit challenging Buhari’s candidacy prior to the 2015 elections, alleging the president had no secondary school certificate Read More
A man has left many people in deep shock after he confessed to have slept with 30 virgins and sacrificed her mother for money ritulas.
A man has made a shocking confession on live radio how he used juju to kill his own mother just to become wealthy.
The Ghanaian man Read More
President Muhammadu Buhari has been implicated at an ongoing trial of of Justice Adeniyi Ademola, as a witness accused the president of offering a 'bribe' of N500,000.
President Muhammadu Buhari who is far away in the United Kingdon, has been implicated in an ongoing trial after a witness in the corruption Read More
A Nigerian lady took to her Instagram handle, to share photos of the new car she bought for her mum.
@preetyani also went on to disclose that exactly 4 years ago, she made a joke about buying her mum a car, and now it has come to reality.
According to her, thank Read More
The Central Bank of Nigeria, CBN, has released a new foreign exchange policy in the country with immediate effect.
The new policy is sequel to last Thursday’s directive by the National Economic Council, NEC, for immediate review to stem the widening gap between the inter-bank foreign exchange and parallel market Read More
First City Monument Bank (FCMB) Group this morning announced the appointment of Adam Nuru as the Managing Director of the commercial banking arm First City Monument Bank Limited.
Nuru will from March 20, replace the current Group Managing Director, Ladi Balogun.
Balogun, having served as Group Managing Director of the Read More
The slide in the value of the naira against the dollars has caused the price of aviation fuel, known as Jet A1, to skyrocket, Daily Trust checks have shown.
The price which stabilized in recent times, selling between N220 to N255 per litre, has increased to N265 following acute Read More
The Chairman, Kaduna Polytechnic Chapter of the Academic Staff Union of Polytechnic (ASUP), Dr Aliyu Ibrahim, on Tuesday said his office had been under the mango tree for more than 18 years.
Ibrahim told reporters in Kaduna that he did not have an office for the past 18 years due to Read More
It has been revealed that government activities at the Federal Secretariat complex, Abuja have been grounded for nearly a week due to power outage over electricity bill in excess of N120 million.
The complex was visited yesterday, Phase I of the complex, which is popularly known as SGF’s Building, was in Read More
Enugu State gov. seals 8 banks (Access, Stanbic, Skye, Union, Unity, Heritage, Keystone and Sterling) for not remitting about ₦1bn in taxes Read More
The former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Andrew Yakubu has filed an appeal at the Federal High Court, Kano demanding the refund of the $9.7m and £74,000 seized from him by the Economic and Financial Crimes Commission, EFCC, and which the court that sat in Read More
Hon Dr West - Idahosa
In late January this year, Bismarck Rewane, a foremost financial expert in Nigeria said as follows; "The Naira will slip to N520 in the market.
Attempts to use forwards to stabilize the market will be futile.
The Forex market is polluted and needs sanitization." Today, the Naira is Read More
The federal government hinted yesterday that it will inject fresh $250 million sourced from the excess crude account (ECA) into the Sovereign Wealth Fund (SWF).
This is coming just as the National Economic Council (NEC) has expressed concern over the current situation of the exchange rate, saying there is need for Read More
Governor Aminu Tambuwal of Sokoto State has said the fastest way to get the country out of its current recession is for the Federal Government to inject more money into the economy, especially construction sector.
He said: “Experts have called on the Federal Government to inject more money into the system.
Personally, Read More
The Federal High Court in Lagos yesterday ordered the forfeiture of $153million allegedly belonging to former Minister of Petroleum Resources Mrs Diezani Alison-Madueke to the Federal Government.
The Economic Financial Crimes Commission (EFCC) said the money was laundered for the former minster.
Justice Muslim Hassan held that the money was a product Read More
The Nigeria Governors' Forum (NGF) is waiting for the Economic and Financial Crimes Commission (EFCC)’s investigation into a possible diversion of the Paris Club refund to states.
Chairman of the NGF and Zamfara State Governor Abdulaziz Yari, spoke with newsmen at the end of the Forum’s meeting at the Presidential Villa, Read More
Governors have joined the battle to stop Ibrahim Magu from becoming Economic and Financial Crimes Commission (EFCC) chairman.
Some of them are ganging up with some senators who are opposed to Magu’s renomination.
The governors are said to be displeased that the EFCC is investigating the disbursement and management of N388.304billion of Read More
The Governor of Ekiti State, Mr. Ayodele Fayose, took his complaint of the federal government’s failure to pay his state’s, January budget support allocation of N1.1 billion to the Federal Ministry of Finance, Wednesday.
He told journalists in Abuja, that he was at the ministry to follow-up on the payment which Read More
Fani-Kayode, former Minister of Aviation and a Peoples Democratic Party chieftain has attacked the Federal Government for refusing to release Ekiti State Government’s monthly allocation.
Fani-Kayode in a statement Wednesday said that Federal Government refusal to release the said fund was ‘petty, vindictive and reprehensible’.
He said that ‘because the courageous Ayo Read More
The Central Bank of Nigeria (CBN) yesterday said that value of electronic transactions rose by four percent to N51.8 trillion in 2016.
The apex bank disclosed this in a report entitled: “White paper on statistical data on varying e-payment channels in Nigeria from 2012- 2016.”
The report revealed increasing adoption of electronic Read More
Vicky, who said she started selling newspapers when she was 9 years old and in JSS 3 in WAPI, Cross River State, disclosed that she made on the average N500 and N600 proceeds daily from the venture.
She said her school runs two sessions and she attends the afternoon session, Read More
The Federal Government has raked into the Single Treasury Account, TSA, at least N5.2 trillion since its implementation in October 2015.
Accountant-General of the Federation, AGF, Alhaji Ahmed Idris, who disclosed this at the beginning of a two-day retreat on TSA in Abuja, yesterday, said that more than 200,000 bank accounts Read More
Senate was yesterday shocked when the Minister of Works, Power and Housing, Babatunde Raji Fashola before its very eyes denied in totality the sum of N2billion allegedly voted for Regional Housing Scheme by the Ministry of Finance out of the N64.991billioin budgetary proposals for the Housing sector this year.
Speaking Tuesday Read More
United States has committed approximately $6.5 million in funding energy projects in the country.
Another $1 billion investment on power projects is already in the pipeline, under the Power Africa in Nigeria, it was also learnt.
Mr. Andrew Herscowitz, Power Africa Coordinator made the disclosure Tuesday at the opening of the two day Read More
A defence witness, Mr Olasunkanmi Adefowope, has told an Ikeja high court how he was paid to give evidence in court in the trial of the former Managing Director of the defunct Finbank Plc, Mr Okey Nwosu.
The defence witness was under cross examination by counsel to the Economic and Financial Read More
Yakubu, ex-NNPC GMD hides $9.8m loot in Kaduna slum according to a press release signed by Wilson Uwujaren, EFCC Head Media & Publicity.
The order was sequel to an ex-parte application by the EFCC seeking an interim forfeiture of the recovered money to the Federal Government.
The ex-parte application was moved by Read More
Three men identified as Owolabi Usman, 19; Atapako Hameed, 30; and Adekunle Segun, 48, have been arraigned by the police on Tuesday in an Abeokuta Magistrates’ Court in Ogun for allegedly setting fire on a jeep and a motorcycle.
The accused, whose addresses were not given, are facing a three-count charge Read More
The luxury designer after praying to succeed in a diamond deal weeks back so he can fulfill his wish of gifting his girlfriend, Adeola Smart a house for val, has now bought her one.
The mansion was unveiled today as a gift to her.
According to our source, the mansion has a Read More
A total of N5.2trillion has been raked into the federal government Treasury Single Account (TSA) since its implementation started in October 2015.
The Accountant General of the Federation, (AGF), Alhaji Ahmed Idris, who disclosed this at the beginning of a two-day retreat on the TSA, in Abuja, yesterday, added that more Read More
Afolabi Sanusi, a 22-year-old Lagos banker has gotten more than he bargained for after he was arrested and arraigned before an Ikeja magistrate’s court for diverting a customer's money to his girlfriend's account.
According to his prosecutor, Inspector Rita Momoh, the suspect who is facing a 3-count charge of of breach Read More
Today, the federal government is galvanising the fight against corruption with a retreat on Treasury Single Account (TSA) kicking off in Abuja over the next two days. The TSA retreat is aimed at bringing together stakeholders in the TSA project, including ministries, departments and agencies (MDAs) of the federal government Read More