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By Oduyemi Odumade The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says some of the taxes and levies collected in the country were not remitted to the Government coffers. The Minister who stated this when he appeared before the House of Representatives Committee on Appropriation said although there was multiplicity of taxes and levies in the country, only nine of such taxes are paid to […]
By Oduyemi Odumade The Speaker of the House of Representives, Dr. Abbas Tajudeen has decried that Nigeria loses over 300,000 barrels of crude oil per day due to theft, vandalism and other criminal activities. Dr. Abbas who stated this in Abuja at the inauguration of a special committee to investigate Oil and crude oil theft in the country also said that the nation was reported to be incurring losses […]
By Oduyemi Odumade The House of Representatives Committee on Defence has expressed concern over the distressing state of the Defence Industries Corporation of Nigeria, DICON, emphasises the imperative of revitalizing the corporation. we Speaking with newsmen in Abuja, the Chairman of the Committee, Mr. Babajimi Benson who explained that DICON was established in 1964 to provide the material needs of the nation's Armed Forces and other security agencies, explained that […]
By Georgina Humphrey The Federal Government has inagurated a 10- man Committee to strengthen the mechanism for full scale and industrial production of Salt and Kaolin in the country. Permanent Secretary, Ministry of Solid Minerals Development and Steel Development, Dr Mary Ogbe stated during the Inauguration in Abuja. Dr. Ogbe explained that the initiative to explore and exploit Salt and Kaolin, aligns with the Renewed Hope Agenda of the […]
By Tersoo Zamber The Central Bank of Nigeria has extended the legal tender status deadline of the old design of N200, N500 and N1,000 denominations. A statement by the apex bank Director of Corporate Communications, Dr. Isah Abdulmunin says the decision is in line with international best practices and to forestall a repeat of earlier experiences. To this end, all banknotes issued by the Central Bank of Nigeria, in […]
Edited By Umbwanko Baba The Nigeria Deposit Insurance Corporation, NDIC, has again demonstrated its unwavering commitment to high ethical standards and compliance with anti-corruption laws and regulations, as it secures the top position in the Independent Corrupt Practices and Other Related Offences Commission, ICPC, 2023 Ethics and Integrity Compliance Scorecard, EICS. This marks the second time that NDIC has taken the prestigious first place, previously having been […]
By James Itodo The Senate is to review all privatised or commercialised programmes In mining from 1999 till date. The decision was taken after consideration of the motion on the need to have a comprehensive Review of input and output of the mining Industry, by Senator Osita Ngwu representing Enugu West. In the motion, Senator Ngwu explained that the Nigeria Extractive Industries Transparency Initiative, NEITI, the Solid Mineral Industry Report […]
By Oduyemi Odumade Executive Secretary/CEO of Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji, says Nigeria lost over N16.25 trillion due to oil theft in the country. Mr. Orji stated this while Presenting a report on the $74.386 billion spent on fuel subsidy by successive administrations since 2011 to the Chairman, House Committee on Public Accounts, Mr. Bamidele Salam, during an interactive in Abuja. According to the Executive Secretary, the […]
The Federal Government has set aside N575.6bn in its special funding budget to boost the fight against insecurity and prosecute the ongoing anti-insurgency war. Under this, a total of N184.25bn was approved for the purchase of military equipment, arms and ammunition. This latest figure was contained in the N2.18tn supplementary budget for the 2023 fiscal year approved by the Federal Executive Council on Monday. Details of the 2023 supplementary budget […]
