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House of Reps [Photo: Twitter - @HouseNGR]

Budget padding: SERAP wants Buhari to order prosecution of indicted lawmakers

The Socio-Economic Rights and Accountability Project, SERAP, has sent an open letter to President Muhammadu Buhari requesting him to use his good offices and leadership position “to urgently instruct security and anti-corruption agencies to forward to you reports of their completed investigations into allegations of padding and stealing of some…

President of Senegal, Macky Sall [Photo: CGTN Africa]

Senegal’s Macky Sall lauds Buhari on Gambia

President Macky Sall of Senegal has thanked President Muhammadu Buhari for his intervention in The Gambian impasse that led to the restoration of democracy in the West African country. Former President Yahya Jammeh had refused to hand over power to Adama Barrow, winner of an election held last December, but…

Crude oil extraction [Photo credit: Bloomberg]

Crude Oil Swap: Firms agree to pay $184 million to Nigerian govt

Three crude oil marketing firms on Thursday agreed to pay over $184 million for under-delivery of crude oil recorded under the former petroleum product swap regime, the Nigerian National Petroleum Corporation, NNPC, has announced. Under the swap arrangement, the NNPC allocated crude oil to trading companies in exchange for processed petroleum products.…

FILE PHOTO: Murtala Nyako stepping into the court

How ex-Governor Nyako diverted N1.2bn to private companies -Witness

The Economic and Financial Crimes Commission (EFCC) on Friday, through its seventh witness, presented documents in court to show the transfer of about N1,384,525,000 allegedly diverted from the Adamawa State government, during the tenure of Murtala Nyako, to the account of Crust Energy Limited. Mr. Nyako, a former governor of…

National Arts Theatre, Lagos

National Arts Theatre’ll be ready for AMAA 2017 – Ambode

The Lagos State Governor, Akinwunmi Ambode, on Thursday said his administration has concluded plans to begin a total revamping of the National Arts Theatre in Iganmu, Lagos, by next month in time for the 2017 Africa Movies Academic Awards, AMAA, ceremony holding in the state later in the year. Mr.…

FPU-training

Premium Times Centre organises security training for journalists, CSOs

The Premium Times Centre for Investigative Journalism, PTCIJ, is conducting holistic security training for journalists and civil society organisations. The three-day training organised in Lagos, will equip journalists and human rights defenders with the right tools and knowledge they need to face the challenges of attacks, arrest and threat to…

Drugs

French firm takes over Nigerian drug manufacturing company, Swipha

Biogaran, a French pharmaceutical company specialised in generic and biosimilar medicines, and a subsidiary of Servier, on Friday announced the takeover of all the activities of Swipha, a Nigerian company that manufactures and distributes pharmaceutical products known for their quality. This is an important step forward in the internationalisation of…

Vice President Yemi Osinbajo in a handshake with the  Chairman  Tactical Committee on Economic  Recession  Dr Bode Ayorinde during  House of  Representatives Tactical Committee on Economic  Recession  Interactive Session  with the Vice President at the Presidential Villa in Abuja on  Thursday (23/03/17)

Osinbajo meets with lawmakers, calls for collective action against corruption

The Vice President, Yemi Osinbajo, has called on political leaders in the country to commit themselves to doing something collectively and individually that can alter the ways things are done in Nigeria for good. Mr. Osinbajo was speaking earlier on Thursday when he met with a delegation of lawmakers from…

BVN suspects

Men who defrauded Nigerians using BVNs jailed

The Economic and Financial Crimes Commission, EFCC today secured the conviction of Innocent Clinton and Emmanuel Okanni before Justice Sa'ad Muhammad of the Gombe State High Court on a two-count charge bordering on conspiracy and theft. The convicts, who hail from Orlu Local Government Area of Imo State, specialised in…

Belgore

Alleged N450 million fraud: Court admits evidence against ex-minister, senior advocate

Justice R.M. Aikawa of the Federal High Court sitting in Ikoyi, Lagos, on Thursday admitted as evidence a document containing the list of alleged beneficiaries of $115 million tendered by the Economic and Financial Crimes Commission, EFCC, against Muhammed Belgore, a Senior Advocate of Nigeria, and Abubakar Sulaiman, a former…

Alex Badeh in court
Photo: DailyPost

Badeh: Nigeria Air Force’s N800 million used for private shopping mall – Witness

A prosecution witness, Nuhu Dalhatu, on Thursday told a Federal High Court, Abuja, that about N800 million used for the construction of a shopping mall linked to Alex Badeh, a former Chief of Air Staff, was traced to the Nigeria Air Force, NAF’s account. Mr. Badeh is standing trial along…

Stanbic IBTC

Stanbic IBTC announces 59 per cent improved earnings for 2016

Stanbic IBTC Bank on Thursday announced full year results for the year ended December 31, 2016 with an improved 59 per cent earnings per share of N2.46 on a year on year basis. A statement by the bank said the book value of equity per share, BVPS increased by 10.8…

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Buhari sympathises with Britons over London terror attack

President Muhammadu Buhari has condemned Wednesday’s terrorist attack near the United Kingdom Parliament Building at Westminster, London. The President, who sympathised with the British Prime Minister, Theresa May, assured her that the government and people of Nigeria “stand with Britons at this sad and trying moment in their country.” According…

Traffic on Lekki axis [Photo: MyLekki.com]

Lagos govt to remove three more roundabouts in Lekki – Official

The Lagos State Governor, Akinwunmi Ambode, on Wednesday assured that his administration will complete the ongoing construction of Ajah Flyover by the end of May 2017, just as he revealed the plans of government to remove three more roundabouts in Lekki-Ajah corridor to ease vehicular movement. Governor Ambode, who spoke…

Lagos State House of Assembly

Lagos Assembly clears Elegushi Royal Family over Ebute-Ikate squatters allegations

The Lagos State House of Assembly has absolved the Elegushi Royal Family of any wrongdoing following allegations leveled against the royal family in a petition to the House over the true ownership of the expanse of land historically known as Ebute-Ikate but which fishermen squatters there refer to as Otodo-Gbame.…

FILE PHOTO: Acting President Osinbajo speaking at the Niger Delta town-hall stakeholder's meeting in Rivers State. 13th Feb 2017. Photo: Novo Isioro.

Nigerian govt issues fresh directives on Niger Delta

The Federal Government has issued a new set of directives in its bid to accelerate the implementation of the Buhari administration’s new vision for the development of the Niger Delta. Vice President Yemi Osinbajo issued the directives at a recent meeting of the inter-ministerial working group, following up on the…

President Muhammadu Buhari

Presidents of Egypt, Gambia, Ghana call Buhari

The president of Egypt, Abdel Fattah el-Sisi, called Tuesday to wish President Muhammadu Buhari well, the Nigerian president’s office said in a statement. The Egyptian leader also congratulated President Buhari on the “strides” Nigeria has made in the campaign against Boko Haram and other security challenges, spokesperson Femi Adesina said.…

President Muhammadu Buhari

Buhari condemns killings in Benue, other parts of Nigeria

President Muhammadu Buhari has commiserated with the government and people of Benue State on the recent attack on a market in Zaki Biam by gunmen which resulted in the loss of lives. The president, in a statement by his spokesperson, Femi Adesina, on Tuesday condemned the "wicked attack" and directed…

South Sudan on map

South Sudan, Equatorial Guinea begin collaboration on Oil and Gas

South Sudan and Equatorial Guinea announced a historic partnership today in Juba, setting out the terms for a strong bilateral relationship between the African oil and gas producers. The Memorandum of Cooperation was signed by Equatorial Guinea’s Minister of Mines and Hydrocarbons, Gabriel Lima, and South Sudan’s Minister of Petroleum,…

Dangote cement [Photo credit: The East African]

Nigerian govt commends Dangote Cement for self-sufficiency feat

The Federal Government has officially confirmed that Nigeria has attained self-sufficiency in the production of cement and is now an exporter of the commodity, ascribing the feat to Dangote Cement which spearheaded the "backward integration policy" introduced by the government. The Minister for Solid Minerals Development, Kayode Fayemi, who led a…

NDLEA officials [Photo credit: www.ndlea.gov.ng]

NDLEA recorded 34,499 drug-related arrests in four years – Report

The National Drug Law Enforcement Agency, NDLEA, between 2012 and 2015, arrested 34,499 persons in connection with drug related offences across the 36 states of the federation and Abuja, according to an official report. In the report obtained by the Economic Confidential in Abuja, Kano State in the north-west geo-political…

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Why Buhari can’t renominate Magu for EFCC job – Melaye

The chairman, Senate Committee on Federal Capital Territory (FCT), and Senator representing Kogi West, Dino Melaye, has said that following the Senate’s rejection of Ibrahim Magu as chairman of the Economic and Financial Crimes Commission (EFCC) twice, President Muhammadu Buhari cannot validly re-nominate the same candidate again. Mr. Melaye, while…

EFCC  Acting Chairman, Ibrahim Magu

Magu to speak at Transparency International conference in London

Days after the Senate rejected his nomination, Ibrahim Magu, the acting Chairman of the Economic and Financial Crimes Commission (EFCC), has been invited by two leading anti-corruption organizations, the Transparency International and Global Witness to speak at an international conference on money laundering and assets recovery. The conference has been…

Special advicer to the president

EFCC arraigns impersonator of Femi Adesina

The Economic and Financial Crimes Commission on Thursday arraigned Christian Oyovweyho, alias Femi Adesina, before Justice Z. B. Abubakar of the Federal High Court Kano on a two-count charge of obtaining by false pretence. The defendant allegedly impersonated the Special Adviser on Media and Publicity to President Muhammad Buhari, Femi…

Magu Arriving the National Assembly

EFCC Chairmanship: SERAP describes Senate’s rejection of Magu as invalid

The Socio-Economic Rights and Accountability Project, SERAP, has questioned the “constitutional validity of the nomination and confirmation processes leading to the rejection for the second time of Ibrahim Magu as Chairman of the Economic and Financial Crimes Commission (EFCC).” In a statement on Thursday signed by SERAP executive director, Adetokunbo…