Sunday, February 28African Business News
Shadow

Tag: EFCC

Ex-workers issue NAHCO, BPE two-week ultimatum over N1.13b benefit

Ex-workers issue NAHCO, BPE two-week ultimatum over N1.13b benefit

Aviation
Ex-workers of the Nigerian Aviation Handling Company Plc (NAHCO), have issued the management and the Bureau of Public Enterprises (BPE), a two-week ultimatum to explain the status of their N1.13 billion or face legal action. The aggrieved ex-workers numbering over 700 have engaged the services of human rights lawyer, Joe Nwokedi, to demand the payment of their terminal and severance benefits. And barring a round-table meeting between the ex-workers, NAHCO and BPE in two weeks, Nwokedi shall also be taking the matter up with the Economic and Financial Crimes Commission (EFCC), and Independent Corrupt Practices Commission (ICPC), for intervention. The Guardian recently reported the face-off between the NAHCO management and their former workers over a N1.13 billion-worth severance packa...
NCDMB, EFCC, others to collaborate on local content enforcement

NCDMB, EFCC, others to collaborate on local content enforcement

Economy
Federal Government agencies including the Nigerian Content Development and Monitoring Board (NCDMB), Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC), Nigeria Police, Nigerian Customs Service, and other relevant agencies have united to vigorously pursue the enforcement of Nigerian Oil and Gas Industry Content Development (NOGICD) Act. At a two-day workshop themed, “understanding the objectives and philosophy of the Nigerian Oil and Gas Industry Content Development Act,” in Abuja, the relevant agencies vowed to pursue strict compliance with the policy. In his welcome address, the Executive Secretary of NCDMB, Simbi Wabote, explained that the Board organised the workshop to create synergy and collaboration with regulatory and enforcem...
NEXIM Bank refutes N50 billion fraud allegation against MD

NEXIM Bank refutes N50 billion fraud allegation against MD

Finance
The Nigerian Export-Import Bank (NEXIM), has refuted the fraud allegations made against its Managing Director and Chief Executive, Abba Bello, by a group known as Citizens Committee for Corruption Free Nigeria (CCCN). According to the Bank, a social media report, claimed that CCCN had filed a petition to the Economic and Financial Crimes Commission (EFCC), calling for Bello’s probe, claiming he diverted the N50 billion Rediscounting and Refinancing Facility (RRF), provided by the Federal Government. NEXIM, in a statement, rebuffed the claim as false and calling it a campaign of calumny, noting that the attributed organisation was faceless, as its address could not be verified. The Bank explained that the N50 billion, which was wrongly referred to as RRF was the Export Development ...
LADOL’s many lies over NPA’s N16bn allegation

LADOL’s many lies over NPA’s N16bn allegation

Energy
Nigerians and the international business community were shocked in late 2019 when the Nigerian Ports Authority (NPA) reportedly sanctioned the Lagos Deep Offshore Logistics (LADOL), operator of LADOL Free Zone in Lagos for shortchanging the federal government to the tune of N16 billion. NPA had late last year accused LADOL of economic sabotage and revoked its land lease agreement for violating the terms of the land lease at Tarkwa Bay, near Light House Beach in Lagos. NPA revoked the lease via a letter dated November 14, 2019 and addressed to the Managing Director of Messrs Global Resources Management Limited (GRML), the parent company of LADOL. The letter, signed by NPA’s General Manager in charge of Land and Asset Administration, Mr. Yusuf Ahmed accused LADOL of subleasing 11.24...
Group sues agency chiefs for mismanaged, unremitted N289 billion

Group sues agency chiefs for mismanaged, unremitted N289 billion

Business
The Centre for Social Justice (CSJ), has sued some heads of Federal Government agencies and commissions for alleged mismanagement and non-remittance of cumulative N289 billion by 17 organisations, which contravenes some provisions of the Finance Circular of November 11, 2011, on internally generated revenues (IGR). According to the Group, the failure to remit the revenues also disregarded the recommendations of the Auditor-General of the Federation in the Annual Report and Accounts of the nation for the year 2017, which stated that the funds should be remitted into the Consolidated Revenue Fund (CRF). Speaking during a virtual media parley, Lead Director, CSJ, Eze Onyekpere, said Nigeria is currently undergoing a fiscal crisis and does not have the money to meet its basic needs a...