All posts by David Abellegah

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  Nigeria borrows $4.4bn from World Bank, hoards $2.6 billion in the face of economic crisis

  Just recently, the Nigerian government was said to be broke, but with the recent events, which have rather confirmed that the government has been hoarding borrowed money, makes it rather tricky to choose which is worse between...

  • Posted December 31, 2012
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  Pension Fraud: Maina to resign after N3 trillion stolen funds are recovered

  The Chairman, Pension Reform Task Team, Abdulrasheed Maina on Saturday said he will resign his position as the Chairman of PRTT as soon as the N3tr is recovered. Speaking with reporters in Abuja on Saturday, Maina said...

  • Posted December 31, 2012
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  FG prepares to introduce new cargo clearance regime, dumps RAR for PAAR

  A new cargo clearance regime will soon be unveiled at Nigerian seaports, boarders, as well as airports. The Federal government, which has concluded all arrangements for the regime, calls it pre arrival assessment report (PAAR) to replace...

  • Posted December 28, 2012
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  Governor Fashola gives out transformers worth N975m through lawmakers for Constituencies

  In a bid to boost electricity generation and distribution in Lagos state, the Lagos State Government has dished out 140 transformers. The transformers cost the government a fortune of N975m. Among the beneficiaries were members of the...

  • Posted December 28, 2012
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  Pension fraud: Senate plans to come back strong against Maina and his Group

  The Senate committee probing the management of pension funds, the same committee that ordered the arrest of Maina and later said they will leave him to God is now planning tougher measures against the Pensions Reform Task...

  • Posted December 28, 2012
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  Lack of implementation of IFAD programmes caused by failure in payment of counterpart funds – Ogbin

  The Cross-River state Programme Officer for International Fund for Agriculture Development (IFAD), Mr Innocent Ogbin, yesterday said the State government has accessed about 447,000 dollars from IFAD since 2006. Speaking to reporters during an interview with the...

  • Posted December 27, 2012
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  Conoco Phillips acquisition to be funded by debt and equity – Oando

  Nigeria’s leading indigenous oil and gas firm, Oando plc says it is set to fund its major acquisition deal of American energy firm Conoco Phillips through the sale of its debt and equity(shares). The deal which is...

  • Posted December 27, 2012
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  Governor Obi to take $75m loan, CD reminds him of his failed promises

  Constant government borrowing for state’s sustainability has recently become fashionable in the country, with the President and state governors taking to the tide. Just few weeks ago, the Association of Senior Civil Servants of Nigeria (ASCSN) challenged...

  • Posted December 27, 2012
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  ICPC to fraudulent contractors: “2013 won’t be business as usual”

  The Independent Corrupt Practices and other related Offences Commission (ICPC) has communicated its renewed determination and strategies to combat fraudulent contractors come 2013. In a warning message, it said contractors should take note because “2013 won’t’ be...

  • Posted December 27, 2012
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  Job creation: Minister seeks economic revamp through MSMEs development

  After Nigeria has had what can be best described as another unproductive year in job creation, The Minister of State for Trade and Investment, Dr. Samuel Ortom, has called on stakeholders to put in renewed efforts into...

  • Posted December 27, 2012
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