ICPC institutes anti-graft monitoring unit in EKSU

Towards building capacity for corruption-free and transparent system, the Independent Corrupt Practices Commission (ICPC) has inaugurated the Ekiti State University (EKSU) chapter of the Anti-Corruption and Transparency Monitoring Unit (ACTMU). The inauguration of the unit, according to the university, is in line with the vision of the Vice-Chancellor, Prof. Samuel Oye Bandele, to run a corruption-free system and transparent financial operations. The vice-chancellor, during his meeting with the unit, expressed satisfaction with the establishment and operation of the anti-corruption and transparency monitoring unit, even as he commended their efforts towards…

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Slippery crude oil swap

The recent payment of over $202 million to the Nigerian National Petroleum Corporation (NNPC) downstream entities by Aiteo Energy Resources Limited for fraudulent deals under the scrapped crude oil swap arrangement has reaffirmed the need to fully unravel all transactions surrounding the controversial barter plan during the last administration. The amount includes Aiteo’s share of the $184 million total indebtedness by three companies on crude swap obligations and other downstream liabilities. Televaras Group of Companies has also pledged to make a tranche payment of $17.2 million while NNPC is still…

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Trump tax march: Thousands urge president to release finances

    Protests have been taking place in more than 150 locations across the United States to call on President Donald Trump to release his tax returns. Trump broke a long-held tradition by not releasing his paperwork during his presidential campaign. His critics want to know who he has been dealing with and if there are any conflicts of interest. At least 21 people were arrested in Berkeley, California, in clashes between Trump opponents and supporters. There is no law requiring presidents to release their tax returns, but Trump has…

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NSE moves to restructure REITs, closed ended funds

The Nigerian Stock Exchange (NSE) has proposed changes to the framework regarding the trading of Real Estate Investment Trusts (REITs) and Closed End Funds listed on the Exchange. The proposed changes, which will be implemented over the next three quarters of 2017, according to a statement issued yesterday, are aimed at promoting transparency, disclosure, visibility and liquidity of listed REITs and Closed End Funds in the market. The changes, according to the statement, will also make it easier for existing and potential investors to access information required to make investment…

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600,000 farmers benefit from e-agric scheme

A new report on an e-agriculture scheme of the Federal Government christened: ‘Growth Enhancement Support Scheme (GES)’ has showed that no fewer than 600,000 Nigerians benefited from the first season of the scheme in 2016. The report entitled: “Growth Enhancement Support Scheme (GES) Dry Season, 2016,” highlighted key progress on food security and financial inclusion for farmers across 30 states in Nigeria, through leveraging Information and technology (IT). The programme, which set out to service 500,000 farmer- households in four value chains, accomplished 92 per cent of the targeted subsidized…

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