Court acquits Former NNPC GMD of Money Laundering Charges The Federal High Court has discharged and acquitted Andrew Yakubu, a former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) on a money laundering case. against him. The Economic and Financial Crimes Commission (EFCC)...

NNPC Spends Over N63bn Maintaining Nigeria's Three Idle Refineries The Nigerian National Petroleum Company Limited (NNPC) invested N63.3 billion on its three refineries located in Port Harcourt, Warri and Kaduna. The National Bureau of Statistics report on trade revealed that in 2021 petrol importation jumped by...

IMF Cautions Nigeria On Volatile Capital Flows The International Monetary Fund (IMF) warns that countries with large external loans may be vulnerable to financial crises and recessions if capital flows out. In December 2021, Nigeria had an external debt stock of $38.39 billion. The federal...

Former School Principal to Spend Two Years in Jail over N3.8m Admission Scam Abdulrahman Abdulraheem Honourable Justice Halima S. Muhammed of Gombe State High Court 2, sitting in Gombe, has convicted and sentenced a 67-year old retired Gombe State Secondary School Principal, Bello Muhammed Abubakar,...

AMCON Recovers N1trn From Debtors   The Asset Management Corporation of Nigeria (AMCON) has recovered over N1 trillion from debtors, its Managing Director, Ahmed Kuru, has announced. He spoke during a visit by the Leadership of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to...

Osinbajo Says Nigeria Suffers $14bn Loss To Farmer-herder Clashes Annually   Nigeria has lost over $14 billion yearly due to the frequent farmer-herder clashes, Vice President Yemi Osinbajo said yesterday. Osinbajo made the disclosure in Lagos, while declaring this year’s Livestock and Aquaculture Trade Fair open. Represented by...