Happenings

T he Nigerian Petroleum Development Company has denied that $6bn proceeds from a third party crude sale arrangement were paid into its account by its parent company, the Nigerian National Petroleum Corporation. The NNPC had in both oral and written submissions to the Senate Committee on Finance investigating the alleged non-remittance of $20bn oil proceeds to the Federation Account on Thursday said the NPDC was in possession of the amount. But the Managing Director, NPDC, Mr. Victor Briggs, told the Senator Ahmed Makarfi-led committee that he did not receive the money from the NNPC and that his agency did not rely on the corporation for the funding of its activities. He said, “We did not have the money in the NPDC account; we did not receive the $6bn from the NNPC. Like I stated in our letter; from the account managed with the NNPC, royalties and taxes are paid. “We received only funds that are required to fund the budget. The specific amount of that I can provide.” Surpr

First of all the CEO of the financial reporting council is a allegedly a man of questionable characters who has been abusing his office by sexsually harassing a married woman in his office http://elombah.com/index.php/reports/16893-jim-osayande-obazee-s-continuing-harassment-of-a-hapless-civil-servant  the credibility of such a fellow should be considered before considering his report on an individual how much more an institution. Jim Osayande Obazee who spearheaded the establishment of the financial reporting council of Nigeria   should be investigated to know his relationship with any of the 5 Bank executives removed by Sanusi Lamido in August 2009 before he generated his report in June 2013 http://www.globalreportersvienna.com/2013/10/he-sexual-harassment-of-mrs-abimbola.html Xriz.

By SaharaReporters, New York SaharaReporters has obtained the original copy of a report by the Financial Reporting Council of Nigeria that President Goodluck Jonathan office claimed he relied upon to suspend the Central Bank Governor of Nigeria, Lamido Sanusi last week Thursday.  To see and download the rest of the document visit  SaharaReporters   facebook fan page  here

In the beginning As at the time I came into office, several things had collapsed. From banks to stock exchange, they had crashed. Inflation was at 15.6percent three months before I became Central Bank Governor; there was already instability in every sector of the economy. When I look back, I thank God for the people who supported us and criticized us as well because criticism has made us stronger. Also, when I look back, I can point to several things that have changed after our arrival and till date. Keeping inflation down For the first time in a long while, we have been able to keep inflation at about 7percent since January 2013 and it is still like that up till this moment. As far as instability and exchange rate is concerned, we have worked tirelessly to ensure things work out well for the economy. We also introduced cash reduction in the system. Although most people didn’t like it because they felt it will add more problem to the exchange rate because people want to buy do

Men of the Cross River Police Command have arrested a middle-aged woman, Ene Edem Okon, for allegedly inflicting bodily harm and tying the hands and legs of her 11-year-old daughter, Queeneth Ene Edem, for being wayward. Police made the arrest after Queeneth appeared in her school, Government Primary School, Akim, with multiple wounds on her chest, stomach and buttocks prompting the school authorities to report the matter to the police at the Akim Police Station. The poor girl narrated her ordeal to Vanguard, saying, she left home at Eneyo village in Akpabuyo Local Government Area of the state on February 17, for the Maternity Junction Settlement, some four kilometers away from home to meet her cousin, one Blessing, but did not return home. “We were waiting for Blessing’s friend from whom she wanted to collect something but she delayed in coming and we waited till night and, because we were afraid of going back home, we slept in an uncompleted building at the Maternity Junction,