Malabu: Nigeria Loses Over $10bn In One Deal - Reps, CSO   The House of Representatives has raised the alarm that Nigeria may have lost up to $10bn in the controversial Malabu oil deal in one transaction on Operating Licence 245. The lower chamber said available data...

Debt Recovery: Reps To Speed Up Amending AMCON Bill   The Chairman, House of Reps Committee on Banking and Currency, Sir Jones Onyereri, has said the Asset Management Corporation of Nigeria Amendment(AMCON) Bill will be presented before the House in the next one or two weeks. Onyereri...

Reps To SEC: Take Over Capital Oil   A sub-committee of the House of Representatives on Capital Market and Institutions on Thursday asked the Securities and Exchange Commission to take over Capital Oil Plc for allegedly defrauding shareholders of more than N5bn. The committee, which is chaired...

Reps Probe N100bn Underpayment By NNPC   The House of Representatives has ordered an investigation into the alleged underpayment of over N100bn to the Federation Account by the Nigerian National Petroleum Corporation. On account of the non-remittance from crude oil sale proceeds, the monthly Federation Account Allocation...

$36.3bn Spent On Petroleum Products’ Importation In 4 Years Says CBN   The House of Representatives on Monday rejected the submission of the Nigerian National Petroleum Corporation on the fresh bid to carry out a turnaround maintenance on the country’s four refineries. A budget of $1.8bn is...

Reps Probe 100 Firms Over Sharp Practices The House of Representatives sub-committee of the Capital Market on Regulation and Compliance has commenced probe into alleged sharp practices by some Public Limited Companies (PLCs) following plethora of petitions by shareholders in the sector. Chairman of the sub-committee,...