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FAILED ABUJA CCTV project: BUHARI’S Administration Must Account for how $460million borrowed Chinese Loan was shared by Nigerian companies, Contractors without doing the job-Federal High Court …Aso Rock must publish the identities of the companies, contractors, total money paid, status of the implementation of the project *“Nigeria has been servicing the Chinese loan. I have no explanations on the status of the project. We have not stopped servicing the loan. I have no information on the status of the CCTV project since everything is shrouded in secrecy”-Minister of Finance, Zainab Ahmed *Hon. Judge Emeka Nwite issued the directives from the lawsuit arising from Socio-Economic Rights and Accountability Project’s FHC/ABJ/CS/1447/2019 under Freedom of Information Act *“The Minister of Finance is in charge of the finances of the country and cannot by any stretch of imagination be oblivious of the amount of money paid to the contractors for the Abuja CCTV contract and the money meant for the construction of the headquarters of the Code of Conduct Bureau. An order of mandamus is hereby made directing and compelling the government to provide the details clarifying whether the sum of N1.5 billion paid for the failed contract meant to construct the headquarters of the Code of Conduct Bureau was part of another loan obtained from China. Nigerians deserve to know how their funds are being spent”-Justice Nwite *BY HILARU KABIRU NURENI/GROUP Business Editor, Abuja
FAILED ABUJA CCTV project:
BUHARI’S Administration Must Account for how $460million borrowed Chinese Loan was shared by Nigerian companies, Contractors without doing the job-Federal High Court
…Aso Rock must publish the identities of the...
DEVELOPING: We’ve Approved BUHARI’S $800million Loan Request, borrowed from World bank to be utilised as fit by TINUBU Administration-ABUBAKAR YUNUSA AHMAD, House of Reps Committee member on Loans, Aids & Debt Management *‘Federal Government intend to use the $800 million World Bank grant to help 50 million vulnerable Nigerians or 10 million households’ *‘The Presidency earlier sent a letter to the Senate seeking approval to take a loan of $800 million from the World Bank to cushion the effects of subsidy removal’ *BY SAMSON SHOAGA/GROUP MANAGING Editor & GEORGE ELIJAH OTUMU/AMERICA Senior Investigative Editor
DEVELOPING:
We’ve Approved BUHARI’S $800million Loan Request, borrowed from World bank to be utilised as fit by TINUBU Administration-ABUBAKAR YUNUSA AHMAD, House of Reps Committee member on Loans, Aids & Debt Management
*‘Federal...
Nigerian Center Immigration Clinic officially unveiled in United States *Group to assist Nigerian citizens in the community in a walk-in who require legal assistance regarding legal immigration, Green Card procession and American Naturalization *Celebrate Mayor Muriel Bowser’s recent proclamation declaring October 1, 2022, as Nigerian American Day in the District *BY CHUDI OWUNIKU/GROUP Political Editor, Abuja & GEORGE ELIJAH OTUMU/AMERICA Senior Investigative Editor
Nigerian Center Immigration Clinic officially unveiled in United States
*Group to assist Nigerian citizens in the community in a walk-in who require legal assistance regarding legal immigration, Green Card procession and American Naturalization
*Celebrate...
SHOCKING: Nigeria join four other countries on World Bank debtors’ list …accumulates $1.3bn IDA debt within a fiscal year, debt different from outstanding loan of $486m from World Bank’s International Bank for Reconstruction and Development *Rated fifth on World Bank list with $11.7bn IDA debt stock in Fiscal Year 2021 *“Nigeria’s debt remains sustainable, albeit vulnerable and costly, especially due to large and growing financing from the Central Bank of Nigeria”-World Bank *BY ABAYOMI OLUSEGUN/ECONOMY Correspondent, Abuja
SHOCKING:
Nigeria join four other countries on World Bank debtors’ list
…accumulates $1.3bn IDA debt within a fiscal year, debt different from outstanding loan of $486m from World Bank’s International Bank for Reconstruction and Development
*Rated...
American Jury indicts Nigerian Couple for fraudulently receiving $76,000 in a Real Estate Scam-United States Secret Service … Suspects: Caesar Oruade, Ayana Saunders convicted of wire fraud conspiracy and conspiracy to launder money *Wife receives fund in United States, wires same to husband bank account in Nigeria, lied to American bankers money came from ‘investors’ who were funding the making of Nigerian films through suspects’ production company *“In May 2017, a computer intrusion at a real estate company resulted in a Memphis woman’s $76,000 payment on a home purchase being diverted to the bank account of California resident Jeffrey Cranford. Agents investigating the case followed the money and found that the $76,000 had been ‘chopped’ and sent to several other U.S. bank account holders before ultimately being wired to an account in Nigeria”-FBI *BY GEORGE ELIJAH OTUMU/AMERICAN Senior Investigative Editor
American Jury indicts Nigerian Couple for fraudulently receiving $76,000 in a Real Estate Scam-United States Secret Service
… Suspects: Caesar Oruade, Ayana Saunders convicted of wire fraud conspiracy and conspiracy to launder money
*Wife...
SOLAR POWER SCANDAL: Nigeria’s Disgraced First elected Woman Ex-Speaker, PATRICIA ETTEH begs EFCC for mercy after converting N130million cash into personal use, pilfers fund from Akwa Ibom electrification contract … confess: ‘Please forgive me, I am ready to cooperate, I honestly don’t remember how I misplaced the NDDC money in my personal account then’ *“Our commission’s special duties unit is grilling ex-Speaker of Nigeria’s House of Representatives, Patricia Etteh for her alleged involvement in a solar power electrification scam in Akwa Ibom State worth N240 million. The former speaker received N130m through her personal account. The contract was awarded by the Niger Delta Development Commission. She is still in our custody”-EFCC *BY LATEEFAT IBRAHIM/CRIME Correspondent, Abuja
SOLAR POWER SCANDAL:
Nigeria’s Disgraced First elected Woman Ex-Speaker, PATRICIA ETTEH begs EFCC for mercy after converting N130million cash into personal use, pilfers fund from Akwa Ibom electrification contract
… confess: ‘Please forgive...
Breaking NEWS: AFRICA’S Richest Billionaire, ALIKO DANGOTE financially broke, seeking to borrow $1.1 billion (900 billion Naira) for Refinery Project -Fitch, world’s biggest global rating agency … Already exhaust all cash in other projects, funds loaned Dangote Group of Companies not enough to finance Refinery Complex completion by 2023, can only raise fund through sale of Dangote Cement bonds *‘Dangote Industries suffering from weak corporate governance. It is a risk for Aliko Dangote to remain largest shareholder and CEO of the project who already has a lot of power over operations’ *“In the report, Fitch said: “Dangote Industries Limited has a complex group structure with a large amount of related-party transactions, with a negative effect on operational and financial transparency. We also view the dominance of Aliko Dangote, as CEO and the main shareholder, in operations as an additional risk” *BY SAMSON SHOAGA/MANAGING EDITOR, London & BY AHMED NURENI/ GROUP BUSINESS Editor, Abuja
Breaking NEWS:
AFRICA’S Richest Billionaire, ALIKO DANGOTE financially broke, seeking to borrow $1.1 billion (900 billion Naira) for Refinery Project–Fitch, world’s biggest global rating agency
… Already exhaust all cash in other...
Russia WAR in Ukraine would cause Hunger, more Poverty, Unaffordable Food Prices, Riots in Nigeria; Ghana, South Africa, other 32 African countries -NGOZI OKONJO Iweala, Director General, World Trade Organization *‘Knock-on effects of Russia’s invasion results in the dependence of many African countries on food supplies from the Black Sea region’ *“I think we should all be very worried. The impact on food prices and hunger this year and next could be substantial. Food and energy are the two biggest items in the consumption baskets of poor people all over the world. It is poor countries and poor people within poor countries that will suffer the most”-OKONJO *BY SERI OBADARE/BUSINESS Writer, Europe
Russia WAR in Ukraine would cause Hunger, more Poverty, Unaffordable Food Prices, Riots in Nigeria; Ghana, South Africa, other 32 African countries-NGOZI OKONJO Iweala, Director General, World Trade Organization
*‘Knock-on effects of Russia’s...
DAMNING REPORT: NIGERIA Ranks Second Most Corrupt Country in West Africa -Transparency International … ‘100 powerful Nigerians exposed as having used anonymous companies to buy properties worth £350 million in the United Kingdom alone’, Panama Papers document *Borrowed US$11.7 billion from WORLD BANK’S International Development Association *‘Nigeria’s DEBT to China is N32.9 trillion ($86.3 billion)-Debt Management Office DEBT Breakdown: N12.7 trillion ($33.3 billion) in external debt contracted by federal government, N20.2 trillion ($53 billion) in domestic debt, involving bank loans, of this fund the Nigerian government still owed extra N16 trillion ($42 billion), while balance are loans collected by the state governments and the federal capital territory *BY AHMED LUUKMAN/SPECIAL Anti-Money Laundering Reporter
DAMNING REPORT:
NIGERIA Ranks Second Most Corrupt Country in West Africa -Transparency International
… ‘100 powerful Nigerians exposed as having used anonymous companies to buy properties worth £350 million in the United Kingdom alone’,...
DISGRACEFUL: Brazil resident Nigerian, NNAKEANYI CHUKWUKA KING arrested for smuggling 40 parcels of Cocaine hidden inside body cream at Lagos Airport, blames the Devil …Suspect intercepted during the inward clearance of passengers at the E-Arrival Hall of the Murtala Muhammed International Airport *NDLEA apprehend two other Nigerians at NAHCO EXport Shed of airport: Rafiu Abbas had a cargo containing 19.15kg cannabis going to London disguised as ‘African dishes’, Vincent Obimma, a 63-year-old man holding 350grams of cocaine and 150grams of heroin, drugs directed at Kano State *BY FELICIA TIMENOM/Anti-drug Reporter, Lagos
DISGRACEFUL:
Brazil resident Nigerian, NNAKEANYI CHUKWUKA KING arrested for smuggling 40 parcels of Cocaine hidden inside body cream at Lagos Airport, blames the Devil
…Suspect intercepted during the inward clearance of passengers at the...
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