Category: Business

Corruption Allegation: CSNAC Petitions EFCC, Seeks Investigation Of Communication Minister, Adebayo Shittu

Emporium Reporters

The Civil Society Network Against Corruption (CSNAC),which is a coalition of over 150 anti-corruption organization, has urged the Economic and Financial Crimes Commission (EFCC), to beam its eagle eyes on the financial records of the Minister of Communication, Mr. Adebayo Shittu, following allegations of corruption levelled against the Minister by one of its aide. In a petition addressed to the acting Chairman of the anti-graft agency, Mr. Ibrahim Magu, and signed by CSNAC’s Chairman, Mr. Olanrewaju Suraju, the Network said the EFCC should probe the Minister where necessary to ensure…

Bill Gates as “a wailing wailer” – Reuben Abati

Emporium Reporters

“I do not enjoy speaking to you this bluntly when you have been gracious enough to invite me here…” – Bill Gates. Mr. Bill Gates, Microsoft founder, friend of Nigeria and one of the richest men in the world was in Nigeria recently, but he ended up violating the official interpretation of “table manners” in Nigeria’s corridors of power. When you are a guest in people’s home, you don’t count their nine toes one by one. It is an essential part of African tradition and culture that when people host…

Senate Passes Petroleum Industry Governance Bill (PIGB)

Emporium Reporters

The Senate on Wednesday passed the much-awaited Petroleum Industry Governance Bill (PIGB), with the approval of five percent levy on fuel sold across the country. This was sequel to unanimous adoption of the report on the Bill presented by Chairman, Senate Committee on Petroleum (Upstream), Sen. Tayo Alasoadura, by the lawmakers at plenary. The Bill is the culmination of several years of efforts at reforming the oil and gas industry. The process began under former President Olusegun Obasanjo in 2000, with the establishment of Oil and Gas Implementation Committee (“OGIC”).…

FAAC: FG, States, LGs Share N647.390bn, Adeosun to Meet NNPC

Emporium Reporters

The Federation Accounts and Allocation Committee meeting which was declared inconclusive yesterday, was today concluded and revenue figures presented by the AGF was adopted and shared among the three tiers of Government. The acceptance of the figures by the members of FAAC followed consultations made by the Minister of Finance, Accountant-General of the Federation with some States’ Governors and representatives of States’ Commissioners of Finance. Accordingly, a total sum of N647.390 billion was shared as FAAC allocation among the Federal, States and Local Government Councils as revenue for the month…

MMM Founder Mavrodi Is Dead

Emporium Reporters

The founder of the MMM series of financial pyramid schemes, Sergei Mavrodi, is dead. He died in Moscow. Mavrodi was taken to a city hospital from a bus stop overnight Monday after he felt weakness and pain in the chest area, reports Moskovsky Komsomolets. The emergency team has failed to save his life. “He died this morning,” the report said. In 2007 Sergei Mavrodi was convicted in a Russian court of defrauding 10,000 investors out of 110 million rubles ($4.3 million). Mavrodi claimed he is not the beneficiary of the…

SUNTI SUGAR : Commissioner Lauds Governor Sani-Bello’s Foresight, Drums Support for 2019

Emporium Reporters

The Niger State Commissioner of Health, Dr.Mustapha Muhammad Jibril on Friday lauded the N50 billion Sunti Golden Sugar Estates projection of the restoration agenda of Niger State Governor, Alhaji Abubakar Sani Bello that was commissioned by President Muhammadu Buhari. In a press statement by his media assistant, Fodio Ahmed, the Commissioner said that the importance of the project was exceptional and cannot be overemphasized , while reassuring that, every project embarked by government was in the interest of Nigerlites. Dr Jibril added that the project will create job opportunities for…

2018 BUDGET:GOV SANI-BELLO SIGNS N134.28 BILLION

Emporium Reporters

Niger State Governor, Alhaji Abubakar Sani-Bello on Wednesday signed into law the 2018 appropriation bill. The legislature approved a budget size of N134.28 billion as against N128.01 billion presented by the Executive last December. The budget which was signed at the Council Chamber of Government House, Minna has an increase of N6.27 billion. Tagged “the people’s budget, the breakdown showed that the recurrent expenditure of the budget is pegged at N53.2 billion, while the capital expenditure will gulp N81.4 billion, as against the initial size of N52.15 billion for recurrent…

Sani-Bello Flags off Distribution of N2 billion Loan to Boost SMEs

Emporium Reporters

Niger state Governor, Alhaji Abubakar Sani-Bello on Monday flagged off the disbursement of a N2 billion Micro, Small and Medium Enterprises Development Fund in the state. The scheme, a joint effort with the Central Bank of Nigeria (CBN) was designed to boost the economy of the state and to provide job opportunities for its teeming youths. Flagging off the disbursement of the first tranch of N1 billion of the scheme in Minna, the governor said the loans is aimed at uplifting the people at lowest run of the society, which in…

NIGERIA NEEDS VIBRANT AGRICULTURAL SECTOR TO GROW, SAYS GOV SANI-BELLO …Lauds President Buhari’s Vision

Emporium Reporters

Niger State Governor, Alhaji Abubakar Sani-Bello on Thursday said the country require a vibrant agricultural sector if we are to achieve a hunger-free nation. The Governor said this in his welcome address at the official commissioning of the N50 billion Sunti Golden Sugar Estates, a subsidiary of Flour Mills Nigeria Plc in Kudu, Mokwa Local Government area of Niger State. Governor Sani-Bello noted that the country also need the sector to help drive income growth, accelerates food security, and generates employment for our youthful population. He however said that the…

FBN Holdings Announce New Appointments

Emporium Reporters

FBN Holdings on Tuesday announced the appointment of Mr Olawale Ariyibi as Chairman of the Board, FBNQuest Capital Ltd; and Mr Tijanni Borodo as Chairman of the Board, FBNQuest Trustees Ltd. The company in a statement said that the appointment followed the recent renaming of all entities under the investment banking and asset management subsidiary group. It said that the renaming was in line with the objectives to deliver a consistent customer experience and drive increased stakeholder value. The statement said that the appointment of both chairmen had received regulatory…