“Nigeria Spent N10.4trn On Fuel Subsidy In 14 Years”- FG

The Federal Government, yesterday, disclosed that Nigeria spent a whooping N10.413 trillion on fuel subsidy between 2006 and 2019, a period of 14 years. Minister of Information and Culture, Alhaji Lai Mohammed, who made the disclosure at a media briefing in Abuja, said the quantum of fund spent subsidising petroleum products during that period translated […]

Scam Alert: Another Bank Fraud Using SIM Card Cloning

There are indications that bank customers are on the verge of losing confidence in electronic banking as frauds associated with the system threatens their life savings through a Subscriber Identity Module (SIM) card cloning. SIM cloning is the process in which a legitimate SIM card is duplicated by a fraudster and used in a different […]

“Sell $1Dollar At N386”- CBN Orders BDC As Forex Trade Restarts

The Central Bank of Nigeria, CBN, on Thursday, in restarting forex trade, directed licensed bureaux de change, BDC, operators to sell dollars to customers at a rate not higher than N386 to the dollar. This came as the Federal Government, Thursday, said despite the N2.3 trillion Economic Stimulus Plan put in place to contain impact […]

UK Officially Enters Recession, Records 20.4% Contraction

The UK economy has suffered its worst slump on record between April and June 2020 as COVID-19 lockdown measures pushed the country officially into recession. The country’s economy experienced 20.4 percent contraction between the first and second quarter, the biggest since records began in 1955. Household spending tumbled as shops were ordered to close, while […]

Tanker Drivers’ Strike: Fuel Scarcity Imminent In South-West- IPMAN

The Independent Petroleum Marketers Association of Nigeria  has said the withdrawal of service by petroleum tanker drivers in Lagos State as from Monday, August 10, 2020 will cause fuel scarcity in the entire South-West and beyond. The Chairman of IPMAN, Ore Depot, Mr Shina Amoo, said this on Saturday in an interview with newsmen in […]

“NDDC Spent #1.3Trillion Between 2015-2019”- Senate

The Senate ad hoc committee investigating financial recklessness in the Niger Delta Development Commission (NDDC) on Thursday said the agency had spent N1.3 trillion within four years, with some of the spending unlawful. The committee revealed the figure during the presentation of its investigative report before the Senate days after the acting NDDC Managing Director, […]

“NDDC Spent #4.2billion In A Day”- Akpabio Discloses To Reps

Contract splitting is rampant in the Niger Delta Development Commission (NDDC), Niger Delta Affairs Minister Godswill Akpabio, said on Monday. According to him, the management of the agency indulges in splitting contracts to outwit the minister and evade approval. Speaking before the House of Representatives Committee on Niger Delta in Abuja, the minister alleged that […]