FG reveals why it opted for out of court settlement in suit with 7 banks over TSA
The Accountant General of the Federation (AGF), Idris Ahmed, has given a graphic explanation on why the Federal Government, after taking seven commercial banks to court over breach of provisions of Treasury Single Account (TSA), made a U-Turn to seek…
ICT Varsity takeoff under threat as Reps hits DBI over N1.2Bn TSA fraud
At a time the Minister of Communications, Barr Adebayo Shittu is warning up to beat his chest that his drive to ICT Varsity in Nigeria is becoming a reality, the House of Representatives Committee on Telecommunications has threatened to sanction…
Govt., Ghanaian banks on collusion course over planned takeoff of TSA
Whereas the Ghanaian Vice-President, Dr Mahamudu Bawumia, has reaffirmed the stand of the government, saying “No turning back on Treasury Single Account (TSA) implementation,” Money Deposit Banks (MDBs) operating in the economy has raised issues of fears, saying the policy…
TSA: Court strikes out FG’s suit against 7 banks on out of court deal
…Awards N1.2m costs to banks A Federal High Court on Wednesday in Lagos struck out a suit filed by the Federal Government seeking to recover 793.2 million dollars allegedly kept by seven commercial banks in violation of the Treasury Single…
Finally, NNPC agrees to return budget surplus at the end of the year
Before now, one of the issues hampering federal government’s finances and accounting system has remained delays and at times, blatant refusals by Ministries, Departments and Agencies (MDAs) to return surplus funds that were not used within a budget regime. In…
Twist as FG fast forwards to nail 7 banks over alleged TSA infractions
…Serves notice of forfeiture order on banks Efforts of the Federal Government in tracking down the seven banks who allegedly failed to transfer about $793.2m belonging to some federal agencies to the Treasury Single Account (TSA) became more serious on…
NNPC, banks deny concealing FG’s $793.2m, may appeal ruling
Following the Lagos Federal High Court’s order on seven commercial banks to remit a total of $793.2m allegedly hidden by them for the Nigerian National Petroleum Corporation (NNPC) and its subsidiary in contravention of the Federal Government’s Treasury Single Account…
At $150,000, refinery licensing fee still discouraging—Experts
Discordant voices have started trailing the review of fees for granting Licence to Establish (LTE) and Licence to Operate (LTO) of a petroleum refinery put at $150,000 by the Department of Petroleum Resources (DPR). Though the agency review of its…
Nigerian Customs to resume e-auction from July 1, warns against fraudsters
After months of postponements, the Nigerian Customs Service (NCS) has announced that its electronic auction of seizures will begin from July 1, 2017. But before now and since the mention of changing from physical bargaining auction model to e-auction, online…
DEMOCRACY DAY SPEECH BY ACTING PRESIDENT, H E, PROF. YEMI OSINBAJO
DEMOCRACY DAY SPEECH BY HIS EXCELLENCY, PROF. YEMI OSINBAJO, SAN, THE ACTING PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA, COMMEMORATING THE SECOND ANNIVERSARY OF THE BUHARI ADMINISTRATION, MAY 29, 2017 Dear Nigerians, I bring you good wishes from President…
