*FG recovers N1.5 bn, shares N281.5billion to 3 tiers of government *Boroh Relocates To Niger Delta Creeks To Meet With Militant

*FG recovers N1.5 bn, shares N281.5billion to 3 tiers of government  *Boroh Relocates To Niger Delta Creeks To Meet With Militant



FG recovers N1.5 bn, shares N281.5billion to 3 tiers of government

The Minister of Finance, Kemi Adeosun, said in Abuja on Wednesday that N1.5 billion, being excess bank charges, was recovered and paid into the Federation Account.Adeosun announced this while addressing newsmen on the outcome of the Federation Accounts Allocation Committee (FAAC) meeting. She said this was done by a consortium of consultants for the Federation Account and that the money was proposed for distribution. She also said that N281.5 billion was shared among the federal, states and local governments as revenue for April 2016. Read more

Boroh Relocates To Niger Delta Creeks To Meet With Militants

As militants continue to destroy oil facilities in the Niger Delta, the Special Adviser to the President on Niger Delta Affairs, Gen. Paul Boroh, has warned the perpetrators that the Federal Government will not reward criminals with medals under the guise of seeking peace. This has come just at the Amnesty coordinator has indicated his resolve to move into the creeks of the Niger Delta to hold peace talks with aggrieved individuals and groups to end the bombings that have substantially cut oil output and slowed Nigeria’s income in recent weeks. Read more

Oil hits $50 a barrel

The price of oil has gone above $50 a barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery. The benchmark Brent crude price hit $50.07 a barrel in Asian trade. The rise followed United States data on Thursday showing that oil inventories had fallen, largely due to supply disruptions following fires in Canada. Read more

Police Arrest 15 Kidnappers In Kaduna

The Kaduna State Police Command has apprehended 15 suspected kidnappers and other criminal gangs across who have been terrorising the  state. The state Police Commissioner, Abubakar Ibrahim disclosed this yesterday while parading the suspected criminals. Read more

Niger Delta youth group leader confirms attack at Chevron facilities

May 26 A Nigerian youth group leader confirmed on Thursday that militants had attacked a Chevron oil facility in the Niger Delta. “The attack truly happened,” Eric Omare, spokesman for the Ijaw Youth Council, said. A group called Niger Delta Avengers had claimed the attack late on Wednesday. Read more

Army acquires vehicles to enhance communication

The Nigerian Army has acquired six vehicles to enhance communication in its fight against insurgency in the North-East. The vehicles were inaugurated by the Chief of Army Staff (COAS), Lt.-Gen. Tukur Buratai, during his visit to Lagos on Wednesday. Buratai said the vehicles, procured by the Army Signal Corps, would be deployed to help in prosecuting the fight against insurgency in the North- East. “We are still pursuing the terrorists and we will continue to do that. The situation is so far so good as the troops are doing very well. Read more

AMCON takes over Bulk Pack Services

Bulk Pack Services Limited, a beverage package manufacturer and supplier owned by Alhaji Sani Dangote has been taken over by the Asset Management Corporation of Nigeria (AMCON) as part of the corporation’s recovery efforts. In a statement, AMCON said the Receiver, Urua Essien, confirmed that he took effective control of the company following the failure of the firm to repay their outstanding debt. The Receiver immediately sealed off the premises of the company located at Dangote Regional Office, Oluwole Ladipo Street, Off Oba Akran, Ikeja, Lagos. Read more

$1b recovered loot to be kept in banks

The Panic Alert Security System, (PASS) engaged by the Attorney General of the Federation to help government recover monies looted from the country has opened four accounts for the recovery of government funds in various funds known as PASS/Asset Recovery Accounts. The accounts are in Naira, United States Dollars, British Pounds and Euros to warehouse recovered funds traced during the pendency of PASS engagement by the Attorney General of the Federation and Federal Government of Nigeria. Read more

 ‘We’re targeting $1b investment in Nigeria’

Foreign exchange (forex) crisis is not a disincentive for serious businesses interested in making huge investments in the Nigerian economy, Chairman of East Hem Liquids, Ed Ukaonu, has said. Speaking at the unveiling of the ‘Last Shot’, a premium recovery and detox drink that helps prevent hangovers after a period of alcohol consumption into the Nigerian market, he said his company will make over $1 billion investment in the economy in the coming years, to foster economic development for the country. Read more

Military Pensions Board to complete payment of 33% increment arrears to pensioners by 2017

The Military Pensions Board (MPB) says payment of 33 per cent increment arrears owed military pensioners since 2010 will be completed by the end of 2017. The Chairman of the Board, Air Vice-Marshal Muhammad Dabo, disclosed this in an interview with journalists in Abuja on Wednesday. He said the administration of Muhammadu Buhari was committed to the welfare of Nigerian military pensioners and had been fully supportive of the board’s activities in the past one year. Read more

EU states approve plans to coordinate key mobile spectrum

EU member states approved plans on Thursday to coordinate the roll-out of a key spectrum across the 28-nation bloc to provide faster mobile broadband speeds and improve access to Internet services, including in remote areas. The proposal foresees the rollout of the 700 MHz band for wireless broadband services by June 30, 2020. Member states can delay that by up to two years if they have legitimate reasons, such as unresolved coordination issues with neighboring non-EU countries or if they need more time to reallocate the spectrum from broadcasting services. Read more

Egypt investigator says French specialist vessel to join black box search today

Egypt’s air accidents chief said on Thursday that a vessel provided by French company Alseamar, which specialises in marine wreckage searches, will join within hours the hunt for the black boxes from crashed EgyptAir flight MS804. Ayman al-Moqadem said negotiations were also underway to contract a second firm to help in the search. Read more

Indian media: Modi’s two years in power a ‘mixed bag’

Mr Modi took oath two years ago with a promise to reform the economy, boost employment and rejuvenate social welfare schemes. Newspapers and pundits agree that Mr Modi has taken some steps in the right direction, but caution that he hasn’t been able to fulfil many of his promises. Read more


New Philippine president to face early test over food security

While Philippine elections this month were dominated by talk about crushing crime, the next president faces another critical early test: ensuring there is enough rice for the country’s more than 100 million people. The Philippine crop is suffering mounting drought damage, just as the country’s big Asian rice suppliers also suffer from an El Nino weather pattern. Read more

Swiss president ‘confident’ of EU immigration deal – paper

Switzerland remains confident of reaching a deal with the European Union to limit immigration before a February 2017 deadline, the Swiss president told a newspaper on Thursday, even though talks are on hold until after Britain’s Brexit vote. The Swiss government is looking to enforce a binding 2014 referendum vote requiring immigrant quotas. But such limits would violate a bilateral pact with Brussels guaranteeing freedom of movement for EU workers. Read more

Australia to study three new pieces of debris for link to missing MH370

Three new pieces of debris thought to be from missing Malaysia Airlines Flight MH370 have been found washed up on Indian Ocean beaches and will be examined in Australia, the transport minister said on Thursday.

Two of the pieces were found in Mauritius while the third was found in Mozambique. Read more

On eve of Greece visit, Putin says problems with EU can be solved

Russia and the European Union need to build a ‘an equal and fair dialogue’ as partners to overcome their differences, President Vladimir Putin said in an article published in a Greek newspaper on Thursday on an eve of a visit to the country. Western financial sanctions were imposed on Moscow in 2014 over its role in the Ukraine conflict, where it annexed Crimea. Russia has imposed counter sanctions against West, including a ban on agricultural produce. Read more

French union leads new anti-reform protests, seeks to maintain momentum

France’s hardline CGT union sought to choke off power and fuel supplies and hamper the country’s public transport network on Thursday in a showdown with a government that flatly refused to withdraw a contested labour law reform. Ahead of nationwide street demonstrations, workers responded to the union’s call by stopping work at oil refineries, nuclear power stations and the state railways, also erecting road blocks, burning wooden pallets and tyres at key ports like Le Havre and near key distribution hubs. Read more




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