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Author Archives: mms plus

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Nigeria Airways’ ex-workers’ll get N45bn severance after Easter – FG

Nigeria Airways’ ex-workers’ll get N45bn severance after Easter – FG

The N45bn severance package of former workers of the defunct Nigeria Airways Limited will be paid after the Easter holiday as soon as the Senate resumes sitting and approves the fund, the Federal Government has said. The government stated that ...

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WATIF Advocates Removal Of Barriers To Bilateral Ties

In a bid to aid bilateral ties between Nigeria and other African countries, the West Africa Trade and Investment Forum (WATIF) has tasked stakeholders on the removal of trade barriers for improved collaboration, regional development and economic impact. Speaking at ...

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Adeosun Breaks Deadlock, FG, States, LGs Share N647.4bn

Adeosun Breaks Deadlock, FG, States, LGs Share N647.4bn

FAAC, NNPC to reconcile revenue figures The various tiers of government wednesday broke the deadlock which climaxed the monthly Federation Account Allocation Committee (FAAC) last Tuesday as they finally shared N647.39 billion for the month of February. The meeting ran ...

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New CBN DGs, MPC Members Assume Office

New CBN DGs, MPC Members Assume Office

Mrs. Aisha Ahmad and Mr. Edward Lametek Adamu have formally assumed duty as Deputy Governors of the Central Bank of Nigeria (CBN), following the confirmation of their appointments last week by the Nigerian Senate. In addition, the trio of Professor ...

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Harmonised PIGB to Impose 5% Fuel Levy on Consumers

Harmonised PIGB to Impose 5% Fuel Levy on Consumers

The Senate Wednesday passed the harmonised version of the Petroleum Industry Governance Bill (PIGB), which includes a five per cent fuel levy on consumers. The monies accrued from the levy would be deployed towards funding of the Petroleum Equalisation Fund ...

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Shell Targets Ex-Employee in Kickback Involving Oil Block Sale to Neconde

Shell says profit jumps on high energy prices

Files criminal complaint, Nigerian firm denies allegation Glencore, Vitol in talks with Seplat, Famfa Oil over acquisition of Petrobras assets Royal Dutch Shell has filed a criminal complaint against its former Vice-President, sub-Saharan Africa, Mr. Peter Robinson, in connection with ...

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Shippers Council To Sponsor 6 Accountants To Global Conference

Shippers Council To Sponsor 6 Accountants To Global Conference

By Kenneth Jukpor As part of efforts to reiterate its committment to the development of human capacity at the Nigerian Shippers’ Council (NSC), the Council’s management has assured that six members of the Institute of Chartered Accountants of Nigeria (ICAN) ...

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NERC Kicks Off New Metering Regime Next Week

We’ll take another look at power tariffs –NERC

The Nigerian Electricity Regulatory Commission (NERC) On Tuesday disclosed that its new electricity metering regime called the Meter Asset Provider (MAP) regulation would kick off next week, precisely from April 3, 2018. NERC said in a statement from its Head ...

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FG Declares Friday, Monday Public Holidays

FG Declares Friday, Monday Public Holidays

The federal government has declared Friday, March 30 and Monday, April 2, 2018 public holidays in order to mark the Good Friday and Easter Monday respectively. In a statement signed by an official in the Ministry of Interior, Mrs. Nkiru ...

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Lekoil Commences Legal Proceedings Against FG over OML 310

Lekoil Commences Legal Proceedings Against FG over OML 310

West Africa-focused oil exploration and production company, Lekoil Limited, has commenced legal proceedings against the Ministry of Petroleum Resources over federal government’s failure to grant consent for the company’s investment in Oil Prospecting Lease (OPL) 310 offshore Nigeria following its ...

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FAAC Meeting Ends in Stalemate as C’ttee Rejects NNPC Remittance

FAAC Meeting Ends in Stalemate as C’ttee Rejects NNPC Remittance

N647.390 billed for distribution Adeosun reconvenes FAAC meeting today, calls for emergency meeting with NNPC GMD The Federation Account Allocation Committee (FAAC) meeting where repre ssentatives of the three tiers of government gathered to distribute accruals from the Consolidated Revenue ...

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FG targets N5bn from measurement equipment licensing fees

FG targets N5bn from measurement equipment licensing fees

The Federal Government is planning to generate the sum of N5bn in the 2018 fiscal period from statutory fees on weights and measurement equipment. The Acting Director, Weight and Measures Department, Federal Ministry of Industry, Trade and Investment, Muhammed Sidi ...

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Aviation security personnel set to carry arms – FG

Aviation security personnel set to carry arms – FG

Aviation security personnel of the Federal Airports Authority of Nigeria will soon be licensed to carry arms at airports across the country. The Federal Government said on Monday that the move was to complement other agencies in addressing security threats ...

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Govt to empower 10,000 rice, cassava farmers with N2.5bn

Govt to empower 10,000 rice, cassava farmers with N2.5bn

The Federal Government has entered into an agreement with the United Nations Development Programme to commit a total of $8.06m (N2.45bn) to boost agricultural output along the rice and cassava value chain. The deal for the funding was sealed between ...

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TSA: FG renegotiates fees with service providers

TSA: FG renegotiates fees with service providers

Why we keep funds outside TSA — NNPC The Federal Government has commenced negotiations with all service providers on the Treasury Single Account in a bid to reduce the cost of running the policy. The Accountant-General of the Federation, Mr. ...

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ICAN Synergizes With Five Star Logistics

ICAN Synergizes With Five Star Logistics

By Oyeniyi Iwakun As part of tour to notable personalities and organizations, the Lagos Mainland and District Society (LMDS) of the Institute of Chartered Accountants of Nigeria (ICAN) has gone into partnership with the management team of Five Star Logistics. ...

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Rescue That Innocent Girl, Orakwusi charges FG

Rescue That Innocent Girl, Orakwusi charges FG

By Oyeniyi Iwakun The Chairman, Board of Trustees (BOT), MMS Woman of Fortune, Hall of Fame (WOFHoF) Initiative, Barrister Margaret Orakwusi has charged the federal government to embark on aggressive search and  rescue of the only remaining female student of ...

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Oil Marketers, Private Sector Reject Single Regulator Proposed under PIGB

Oil Marketers, Private Sector Reject Single Regulator Proposed under PIGB

The oil marketing and trading companies, as well as the Organised Private Sector (OPS) has rejected the  single regulator for both the upstream and downstream sectors of the Nigeria’s oil and gas industry as provided in the Petroleum Industry Governance ...

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Adeosun Asks Magu to Account for Looted Funds

Adeosun Asks Magu to Account for Looted Funds

• Says letter aimed at improving controls over recovered funds The Minister of Finance, Mrs. Kemi Adeosun, has asked the acting Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, to clarify where the cash recoveries from May ...

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IMF seeks total implementation of ERGP to boost economic growth

IMF seeks total implementation of ERGP to boost economic growth

To boost economic growth and development, the Federal Government has been advised to fast track the implementation process of the Economic Recovery and Growth Plan (ERGP) to achieve a higher economic growth. The Senior Representative and Mission Chief for Nigeria ...

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