Why fuel subsidy account is empty —Okonjo-Iweala (It has been embezzled?)

The Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Tuesday confirmed The PUNCH’s story that the Federal Government’s subsidy account with the Central Bank of Nigeria was empty, blaming the situation on technical hitches in the documentation with the CBN. Okonjo-Iweala, while briefing journalists in Abuja, said the transfer of funds meant for fuel subsidy payments […]

Soldier, policeman, 5 others killed in Boko Haram attack

From TIMOTHY OLA, Maiduguri Seven people including a soldier, a policeman and five others died yesterday in a fresh attack on a military formation in Borno by gunmen suspected to be Boko Haram. According to sources, the gunmen had launched the attack on the 21 Brigade troops’ located at Marte, Marte Local Government Area in […]

Asset seizure: Drama as Sylva, EFCC brandish conflicting court orders

There was a minor drama at the Abuja High Court on Friday as the seizure of former Bayelsa State governor, Timpre Silva’s properties came up for mention. The Economic and Financial Crimes Commission (EFCC) and the former governor presented two conflicting but valid court orders before the judge, Justice M. M. Kolo. On Thursday, the […]

FG to acquire 30 aircraft, plans reduction in air fares

BY GABRIEL ENOGHOLASE & SIMON EBEGBULEM BENIN CITY— THE Federal Government, Wednesday, said it plans to acquire 30 aircraft to boost domestic airlines in the country and ensure reduction of air fares. It also attributed deluge of litigations as responsible for the non-removal of abandoned aircraft in airports across the country, as it was discovered […]

Tears, tributes at Azazi’s funeral

The remains of late Gen. Andrew Azazi (retd) in Yenagoa, who died alongside a former Governor of Kaduna State, Mr. Patrick Yakowa and four others in a naval helicopter crash , were buried on Saturday in Bayelsa State. Azazi was buried amidst tears and glowing tributes from family members and sympathisers including President Goodluck Jonathan. […]

FG to go tough on private jet owners

There are indications that the Federal Government will impose stringent measures on private jet owners and charter aircraft operators to avert disaster in the general aviation section, investigation by our correspondent has revealed. This, it was learnt, was the outcome of an emergency meeting between the Minister of Aviation, Mrs. Stella Oduah, and heads of […]

Sanusi to FG: Stop accumulating debts for future generation

By Babajide Komolafe LAGOS— Central Bank of Nigeria, CBN, Governor, Mallam Sanusi Lamido Sanusi, has warned the Federal Government to stop accumulating debts for future generation by reducing its current levels of borrowing. He said the current level of borrowing, if unchecked, would result to unmitigated hardship for future generations. He urged the Federal Government […]

Bombings: MTN, others to seek compensation from FG

DECEMBER 26, 2012 BY DAYO OKETOLA Mobile network operators have concluded plans to seek compensation from the Federal Government for losses incurred from terrorist attacks on their installations. The Executive Secretary, Association of Licensed Telecommunications Operators of Nigeria, Mr. Gbolahan Awonuga, confirmed to our correspondent on Tuesday that MTN, Globacom, Airtel, Etisalat, and the CDMA […]

Why recruitment was not advertised – Immigration

Nigerian Immigration Service on Tuesday said the vacant posts in the agency were not advertised because it wanted to avoid a repeat of the rush during the 2006 recruitment exercise when many applicants died. The service also denied that it allotted some vacancy slots to the President’s wife, Mrs. Patience Jonathan, saying the report was […]

Sanusi cautions FG against rising debt profile

The Governor of Central Bank of Nigeria, Mallam Lamido Sanusi, on Tuesday raised the alarm over the nation’s rising debt profile and warned that the development, if left unchecked, would result into hardship for Nigerians. Sanusi, at the the Honorary International Investment Council conference in London, argued that if the existing level of borrowing from […]

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