“The accrued interests due to the Federal Government to the tune of N2 billion and $3.8 million were alleged to have been diverted by those banks in collaboration with officials of the Central Bank of Nigeria,” Onyema said.
Browsing: Central Bank of Nigeria
The report further showed that from January to December, 2017, NNPC remitted a total of N857.36bn into the Federation Account, N644.05bn for Joint Venture financing, and N19 billion to the Federal Government for debt repayment.
“Higher oil prices would support a recovery in 2018 but a ‘muddle-through’ outlook is projected for the medium term under current policies, with fiscal dominance and structural constraints leading to continuing falls in real GDP per capita,” the IMF said.
The intervention of the leadership of the National Assembly came ahead of the Egmont Group’s next meeting which is scheduled to hold on March 12. At the meeting, it would be determined whether Nigeria has complied with the requirements to warrant the lifting of its suspension.
Cobalt was assigned to cover the South Western part to handle the land borders in Idiroko, Imeko, IIlara Ijoun, Ohumba, IIlashe, Ijoffin and Seme. It will also handle Tin-Can Apapa Port and Kiri-Kiri Lighter Terminal, KLT.
“The workshop will acquaint participants on the functionality of the new template for annual questionnaire introduced by OPEC Secretariat for member countries in relation to their crude oil production, proven reserves, export and refining capacity profiles.”
The federal government in November 2017 disclosed that it was considering granting 13 operational licences for modular refineries in the Delta region. It also has, as part of its policy to revive the country’s oil sector, the Seven Big Wins, plans to incentivise the construction of modular refineries in the region.
“Desirous of the need to do a thorough job on the assignments with a view to getting all the material facts surrounding the matter”, the committee had no option than to request for additional time to accomplish its work.
“The Federal Government must call the Economic and Financial Crimes Commission-EFCC to order now, before it is too late. The implications of expelling Nigeria from the Egmont Group are far-reaching. Nigeria will fully return to the list of high risk jurisdiction countries of the world, if the EFCC is not called to order.”
“We’ve gotten to a point where we don’t care whether oil prices will be sustained at the level that they have recently risen to. We’ve been able to balance our budget at $45-$46/bbl and we’ve got to learn to live comfortably at that level.”
