NSA probes N15bn recovery

The National Security Adviser (NSA), Major General Mohammed Monguno (rtd), has begun an investigation into the recovery of about N15 billion by the Economic and Financial Crimes Commission (EFCC). This is as President Muhammadu Buhari has directed the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), to submit a report on the recovery. The EFCC had, last week Wednesday, recovered $43.4 million, £27,800 and N23.2 million totalling about N15 billion from a private apartment at the Osborne Towers in Ikoyi, Lagos. New Telegraph was informed…

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Local oil firms walking a tight rope

Indigenous firms are the worst-hit by myriads of challenges bedeviling the oil and gas industry. ADEOLA YUSUF reports on how many of them are running into bankruptcy     Aiteo, an indigenous oil firm, made the headlines penultimate week; basking in the euphoria of its new status as the biggest Nigerian- owned oil firm in terms of production, hitherto known by many as the petroleum product trading firm, it announced the production of the largest share of the 313,602 barrels per day output from indigenous companies. The firm’s management cannot…

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Is Arik slipping into oblivion?

Government is at a crossroads on what to do with Arik Air, having injected N1.5 billion since it took over the carrier. It’s time to take far reaching decision on the airline’s future, writes WOLE SHADARE   Arik on life support For those who don’t know, Arik Air is currently dying a slow death and here are some of the signs. The airline has just five aircraft from the over 29 it acquired when it made a debut 10 years ago. It purportedly came with a difference with state-of-the-art aircraft,…

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Bida Poly students bemoan hike in hostel rent

Given the current economic recession facing the country, students of the Federal Polytechnic, Bida have lamented the hike in rent of houses within the polytechnic communities. The students, who expressed their dismay over the increment in house rent, said that the unexpected increase in the house rents in the polytechnic community was arbitrary. While saying that it had made life more difficult for students living in rented apartments off campus, a National Diploma (ND) II student of the Department of Mass Communication, Abdullateef Akanbi complained that “most landlords or house…

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Shall I tell this to the president?

They already own everything; they own our politics, our economy and our money. Even the CBN is being privatised and controlled by this cartel. The same cartel now wants to control the water we drink and the air we breathe to complete their vicious cycle of enslaving and subjugating us all. They don’t care about the future but only about the dark interest they represent. Unrestrained capitalism is evil and should be challenged. The media knows about this but will never write about it. Our elite knows about this but…

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Recovered N15bn above what FG’s agency can keep –Sagay, SANs

Three Senior Advocates of Nigeria (SAN); Prof. Itse Sagay, Dr. Biodun Layonu, Mr. Seyi Sowemimo and the second Vice-President of the Nigerian Bar Association (NBA), Mr. Monday Ubani, have said that the sums of $43,449,947, £27,800 and N23,218,000 totalling about N15 billion recovered by the Economic and Financial Crimes Commission (EFCC) from an apartment in Ikoyi area of Lagos were far in excess of what an agency of government can keep. They made the observation while reacting to reported claim by the National Intelligence Agency (NIA), Nigeria’s external secret police,…

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