Category: Money

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Ex-Governor of Delta State James Ibori denies receiving any contract from NDDC

Former Governor of Delta State, Chief James Ibori, Monday denied soliciting for, getting or executing any contract from the Niger Delta Development Commission (NDDC). He therefore advised Akpabio to “calm down and face the task at hand”. Ibori’s denial is contained in a statement issued by his media aide, Mr. Tony Eluemunor. In the statement, titled: “Gov Akpabio Calm Down; I Never Got Any NDDC … Continue reading Ex-Governor of Delta State James Ibori denies receiving any contract from NDDC

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PDP Berates APC For Defending the Mortgaging of Nigeria’s Sovereignty

The Peoples Democratic Party (PDP) says the attempt by the All Progressives Congress (APC) to trivialize the mortgaging of the nation by raising frivolous allegations against the PDP validates APC’s complicity in the pawning of our country to foreign interests. The party holds that APC’s jaundiced reaction to the attempt to send a future generation of Nigerians to China on slavery shows that the APC … Continue reading PDP Berates APC For Defending the Mortgaging of Nigeria’s Sovereignty

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NDDC: Akpabio Names Orji Kalu, Uduaghan, James Ibori In Contract Scandal

Also linked to the contracts in the letter submitted to the House of Representatives Speaker, Femi Gbajabiamila, is a former lawmaker for the Imo North (Okigwe) constituency of Imo State, Senator Ifeanyi Ararume.In the letter with Reference Number MNDA/HM/04/IV/158, addressed to the Clerk to House of Reps, Patrick Giwa, and also copied to the office of the Attorney General of the Federation/Minister of Justice, Abubakar … Continue reading NDDC: Akpabio Names Orji Kalu, Uduaghan, James Ibori In Contract Scandal

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EFCC Secures Final Forfeiture of N827.6m from NDDC Contractors.

The Economic and Financial Crimes Commission, EFCC has secured the final forfeiture of N827, 679,098.32 (Eight Hundred and Twenty-Seven Million, Six Hundred and Seventy-Nine Thousand, Ninety-Eight Naira, Thirty-Two Kobo) from Flank Power Resources Limited and GMFD Ventures Limited, both of whom are firms linked to contractors with the Niger Delta Development Commission, NDDC. Matthew Edevbie is the Chief Executive Officer of Flank Power Resources Limited. … Continue reading EFCC Secures Final Forfeiture of N827.6m from NDDC Contractors.

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APC replies Atiku, PDP: Account for failed $460m Abuja CCTV, $2bn China Loan

The All Progressives Congress, APC, on Monday asked former Vice President, Atiku Abubakar and his Peoples Democratic Party, PDP, to explain to Nigerians the status of the failed $460 million Abuja Closed-Circuit Television (CCTV) awarded in August 2010 by the immediate-past PDP administration. The party also asked the PDP to explain the over $2 billion China loan its administration took between 2010 and 2013 alone; … Continue reading APC replies Atiku, PDP: Account for failed $460m Abuja CCTV, $2bn China Loan

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Buhari approves Amos Azi as head of Investment and Securities Tribunal

President Muhammadu Buhari on Monday approved the appointment of Barrister Amos Isaac Azi as Chairman/Chief Executive Officer for the Investments and Securities Tribunal (IST). Azi, before this appointment, was a staff of the Securities & Exchange Commission. A statement from the IST said “his appointment is for an initial period of Five (5) years in accordance with the provisions of Sections 275(2) and 277(1) of … Continue reading Buhari approves Amos Azi as head of Investment and Securities Tribunal

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Wike signs revised 2020 budget

…Pledges commitment to quality project delivery Rivers State Governor, Nyesom Ezenwo Wike has signed into law the revised 2020 Appropriation Bill. This followed the presentation of the Budget by the Majority Leader of the State House of Assembly, Hon. Martin Amaewhule, to him at Government House, Port Harcourt. Total figure of the revised budget for 2020 fiscal year signed by the Governor is N300,370,071,183.33 Billion.It … Continue reading Wike signs revised 2020 budget

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Alleged corruption: Activists push for unbundling of Humanitarian Affairs Ministry

Members of a non-governmental organisation, Forum for Good Governance (FGG), have urged President Muhammadu Buhari to set in motion the process of unbundling the Ministry of Humanitarian Affairs, Disaster Management, and Social Development. The organisation, in a statement by its convener, Ugochukwu Ezekiel Hanks, on Wednesday, said the recent controversies surrounding the ‘super ministry’ have shown that the Minister of Humanitarian Affairs, Hajiyya Sadiya Farouq, … Continue reading Alleged corruption: Activists push for unbundling of Humanitarian Affairs Ministry

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NDDC should focus on missing funds, not works done, Kalu replies Akpabio

Senate Chief Whip, Dr. Orji Kalu, said on Monday that the focus of the ongoing forensic audit at the Niger Delta Development Commission (NDDC) should be on missing funds and not works that were done. Kalu stated this in a statement issued by Mr. Emeka Nwala of Office of the Senate Chief Whip. The former governor of Abia was reacting to claims by Minister of … Continue reading NDDC should focus on missing funds, not works done, Kalu replies Akpabio

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Nigeria may find new economic strength as gold heads for $2000

Nigeria’s economic development may receive a significant boost from gold mining as gold prices hit all-time highs, with about 30 percent price gain so far this year. As part of the economic diversification and reforms in the solid minerals sector, Nigeria had for the first time recently refined its own reserve gold bar and paid N268 million for a 12.5 kg bar to start a … Continue reading Nigeria may find new economic strength as gold heads for $2000

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