Nigeria Earns N22.2 Trillion from Oil Sector in Three Years

 Finance Minister, Dr. Ngozi Okonjo Iweala

An independent audit report of financial flows into the Federation Account from operations in the oil and gas sector has revealed that a total of N22.165 trillion ($143.5 billion) was earned as revenue from the sector from 2009 to 2011.

The audit, among others, revealed that the total accrual was four per cent short of the $148.8 billion earned by the country from the sector from 2006 to 2008.

France Returns Smuggled Nok Artefacts to Nigeria

Sculpture

France has returned to Nigeria five ancient terracotta sculptures smuggled out of the country in 2010.
The artefacts, of Nok origin, were found in the luggage of French citizen at a Paris airport. Their exact value has not been disclosed, but they are believed to date back more than 3,000 years. Nigeria’s tourism minister told the BBC it was a “big achievement” in the country’s campaign to recover its lost treasures from around the world.= “I feel extremely delighted,” said Edem Duke, who attended the ceremony to receive the sculptures from French embassy officials in the capital, Abuja.

Uproar over N4bn Budget for First Lady’s Office

N7.4bn earmarked for Abuja city gate, N150m for revamp of VP’s guest house

There was anger on the floor of the Senate Thursday when the chamber opened the debate on the 2013 budget for Federal Capital Territory (FCT), which contained a whopping N4 billion allocated to the construction of an office for the First Lady. Neither the wife of a serving president who serves as first lady, nor her office, is accorded any form of recognition in the 1999 Constitution, which makes the N4 billion allocation illegal.

Pension Scam: CNPP Slams Judge Over Lenient Sentence

John Yakubu Yusuf

The Conference of Nigerian Political Parties (CNPP) has deplored the sentence handed down to a former director of the Police Pension Fund,  John Yakubu Yusuf by an Abuja High Court after he was convicted of the theft of police pension fund to the tune of N23 billion.

The conference dismissed the confiscation of assets of less than N1 billion naira and a fine of N750,000 imposed on Yakubu Yusuf "as less than a slap on the wrist for the amount he admitted to stealing from helpless police pensioners".

A statement by the CNPP’s Secretary General, Chief Willy Ezugwu urged the National Judicial Council (NJC) to investigate Justice Abubakar Talba to ensure that the image of the judiciary is not dragged into disrepute.

Tukur Approves N350k Allowances for 'Supportive' Deputies

Alhaji Bamanga Tukur

After an over two-hour meeting with the deputies of members of the National Working Committee (NWC) of the Peoples Democratic Party (PDP), the National Chairman, Alhaji Bamanga Tukur Tuesday approved the sum of N350,000 each as allowance.

The approval of the allowance was to pacify the deputies over allegations of marginalisation and apparently carry them along in the administration of the party.

The deputies were at loggerheads with the members of NWC over approval of salaries for themselves without taking them into consideration.

The National Chairman of PDP is on monthly salary of N2 million, while the deputy national chairman is on N1.7million and the National Secretary is on N1.5 million, while other members of NWC are on N1.2 million per month.

EXCLUSIVE; Lagos Police Dismiss Corporal for Stealing

Lagos State Commissioner of Police, Umar Manko

BY Chiemelie Ezeobi

The Lagos State Police Command yesterday dismissed one of its personnel, Corporal Gaborone Falogbade, with Force number 444123 for misconduct, an action the command says enforces to its zero tolerance to corruption and indiscipline.

The dismissed corporal was charged for stealing one of the seized motorcycles which was taken from defaulters at Ikorodu area of the state as part of the recent ban on motorcycles by the state government.

Olubolade: 4,000 Retired Policemen Yet to Receive Pension

Minister of Police Affairs, Navy Capt. Caleb Olubolade (rtd)

The Minister of Police Affairs, Navy Capt. Caleb Olubolade (rtd), has said about 4,000 retired police officers are yet to receive their pensions. He also stated that the number could be more, as more files of retired officers were still being processed.

The minister, who made the disclosure in his 2012 report on his ministry’s progress and challenges, said the police was still faced with the challenge of poor funding, which has hampered some of its projects.

AFCON 2013: Moses Helps Uninspiring Eagles Reach Quarters

Victor Moses scored both goals for the Eagles

The individual brilliance of Victor Moses ensured that the Super Eagles’ interest in the African Cup of Nations continued Tuesday night as his two well struck penalties was just enough to beat Ethiopia 2-0.

However, while millions of Nigerian football fans were mightily relieved to see the Eagles progress, the same feeling was not shared by Zambian fans as the defending champions crashed out after playing a goalless draw with Burkina Faso, who incidentally finished top of Group C.

Presidency: Obasanjo Left $43bn in Foreign Reserve

Former President Olusegun Obasanjo

Ripples of the allegations former vice president of the World Bank, Mrs. Obigeli Ezekwesili that the administration of former President Olusegun Obasanjo left behind $67 billion that has been squandered by the regime of late President Umaru Yar’Adua and President Goodluck Jonathan continued, as the Presidency Tuesday said that Obasanjo left behind $43.13 billion as at the time he handed over in May 27 2007. Also, the Presidency dubbed Ezekwesili as a liar whose intention was to discredit President Goodluck Jonathan and incite Nigerians against the administration.

UNBELIEVABLE: FG Expends N7bn on Mali

The federal government has expended the sum of N7billion on the Africa-led International Mission in Mali (AFISMA), which entails  the deployment of troops and logistics to the country facing Islamists insurgency.

This is as global donors pledge the donation of $455.53 million, exceeding by far the earlier target of $50 million set by the African Union (AU).

Similarly, the apex government has indicated that it will spend an additional $5million pledge in further assistance to assist the war torn country.