DPR blames CBN, NPDC in alleged N6tr revenue leakages

The Department of Petroleum Resources (DPR) has blamed the Central Bank of Nigeria (CBN) for determining the rate at which royalties paid in dollars are converted to naira before remitting into the Federation Account. It said the situation had led to loss of N6 trillion in one year. At the hearing of the House of Representatives Ad-hoc Committee investigating More...

by Bar and Bench | Published 4 weeks ago
By Bar and Bench On Wednesday, November 8th, 2017
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NNPC dismisses rumour of petrol scarcity during festive season

Promises hitch-free supply The Nigerian National Petroleum Corporation (NNPC) has dismissed as false the rumour making the rounds that there would be scarcity of petroleum products as the festive period approaches. The More...

By Bar and Bench On Wednesday, November 8th, 2017
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Buhari proposes N8.612 trillion budget for 2018

President Muhammadu Buhari on Tuesday presented a budget estimate of N8.612 trillion for the 2018 fiscal year to a joint session of the National Assembly. The key parameters and assumptions for the 2018 budget More...

By Bar and Bench On Friday, November 3rd, 2017
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Buhari ‘ll present 2018 budget next week Tuesday—Saraki

President Muhammadu Buhari will next week Tuesday present the 2018 budget proposal to a joint session of the National Assembly. Senate President, Bukola Saraki made the disclosure on Thursday as he read a letter More...

By Bar and Bench On Tuesday, October 31st, 2017
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Newswatch Ownership:  Appeal Court gives it to Jimoh Ibrahim

The Lagos division of the Court of Appeal has upturned the judgment of the Federal High Court delivered  on October 20, 2014 and affirmed Mr.  Jimoh Ibrahim as the legal owner of Newswatch. In a unanimous judgment More...

By Bar and Bench On Sunday, October 29th, 2017
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CBN confirms Gen Babangida’s son as Unity Bank chairman

The Central Bank of Nigeria (CBN) has confirmed the appointment of Aminu, the son of former Head of State, Gen Ibrahim Babangida, as chairman of Unity Bank. In a notice posted on the Nigerian Stock Exchange website, More...

By Bar and Bench On Sunday, October 29th, 2017
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Why Nigerians should not expect timely passage of 2018 budget—NASS

Says 2017 budget yet to attain 10% implementation The Chairman of House of Representatives Committee on Legislative Budget and Research, Mr. Timothy Golu, has said that the 2018 bill which the presidency said More...

By Bar and Bench On Saturday, October 28th, 2017
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Buhari ready to present 2018 budget next week—Presidency

President Muhammadu Buhari is fully ready to present the 2018 Appropriation Bill to the National Assembly. The Presidency which made the disclosure through the Senior Special Assistant to the President (National More...

By Bar and Bench On Tuesday, October 24th, 2017
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We ‘ll resist ‘no-work no-pay’ policy by FG—PENGASSAN

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Monday told the Federal Government to shelve the implementation of its policy of ‘no work no pay,’ saying it would use all it More...

By Bar and Bench On Monday, October 23rd, 2017
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Court order forfeiting 46 million bank accounts without BVN in order—Presidency

The Presidency has described as fantastic an order of interim forfeiture made by Justice Nnamdi Dimgba of the Federal High Court, Abuja directing that 46 million bank accounts not covered by the Biometric Verification More...