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Tag Archives: Federal Government

Recovered Looted Funds Are With CBN – FG

The Federal Government has made clarification on the whereabouts of recovered looted funds, insisting that they were being paid into dedicated accounts with the Central Bank of Nigeria (CBN). There had been reports of discrepancies in the figures released to the media by Acting Chairman, Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, and the…

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FG Slams PDP For Doubting Abduction, Release Of Dapchi Schoolgirls

The Federal Government has slammed the Peoples Democratic Party (PDP), following the release of the Dapchi schoolgirls abducted by Boko Haram terrorists. Minister of Information and Culture, Lai Mohammed, faulted the party’s reaction to the girls’ release on Thursday in a statement by his media aide, Segun Adeyemi. The abducted girls regained freedom on Wednesday,…

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Dangote’s Alheri Denies Indebtedness To FG Over Concession TCN Fibre Optic Network

Alheri Engineering Company Limited, a company owned by Alhaji Aliko Dangote has vehemently denied owing the Federal Government the sum of $75,500,000.00 (about N27.18billion) which government categorized as outstanding payments as part of the concession agreement it entered with the company and Phase 3 Telecoms to manage the fibre optic network of the Transmission Company…

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FG is broke – Lai Mohammed Says

The minister for information and culture, Lai Mohammed has said that the Federal Government lacks the funds to implement capital votes in the 2017 budget. The minister said this on Tuesday, December 12, 2017, while defending the 2018 budget at the Senate, Tribune Online reports. Mohammed said “it is not that government is deliberately withholding releases to fund…

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Federal Government Recovers $321m Abacha Loot

The Federal Government has signed a memorandum of understanding with Switzerland to recover $321 million stolen by former Head of State General Sani Abacha. The announcement was made on the Federal Government’s official Twitter account @AsoRock. The funds were initially frozen in Luxembourg, after being confiscated by Switzerland as part of criminal proceedings brought by the public prosecutor’s…

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FG Appoints Abdul Zubair As Acting SEC DG

The Federal Government has announced the appointment of Dr. Abdul Zubair as the acting Director-General of the Securities and Exchange Commission (SEC) with immediate effect. In a statement by SEC on Sunday, Zubair, before the appointment, was the Director in charge of external relations in the commission. His appointment was necessitated by the suspension of…

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TBS, National Theatre, Others For Sale – FG

The Federal Government has concluded plans to sell the Tafawa Balewa Square (TBS) Lagos and the National Arts Theatre, also in Lagos, to generate sufficient revenue to finance the country’s annual budgets for the next three years (2018-2020). This was disclosed by the Director General of Budget Office, Ben Akabueze, who told the House of Representatives…

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FG To Adopt ‘No Work No Pay’, Says Strikes Called To Undermine Buhari’s Administration

The Federal Government has taken a critical look at the slew of strikes called by workers in the last two months, arriving at the conclusion that the industrial actions were targeted at pulling down the administration of President Muhammadu Buhari. Rising from its deliberations on Wednesday, the Federal Executive Council, FEC, meeting presided over by…

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