Oando: Tinubu, Others Face EFCC Probe

The Chief Executive Officer of Oando Plc Wale Tinubu is expected to be a guest of the anti-graft agency, the Economic and Financial Crimes Commission, EFCC anytime soon over allegation of mismanagement of billions of naira belonging to the oil servicing company. Tinubu alongside other top management of the company were on Friday sacked by the Security and Exchange Commission, SEC over breach of corporate governance as regard the management of finances of Oando. Apart from Tinubu, his deputy, Mofe Boye was also mentioned in the scam. They have both…

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Nigeria Spends 60% of Revenue On Debts, The Economist Says

By Uche Mbah The Economist, the international Business Magazine that is considered to be the mouthpiece of International Banking Concerns, has said that Nigeria spends sixty percent of her earnings to service loans. In a publication on their website monitored in Lagos, The Magazine said the Nigerian government is postponing a crisis, not averting one. “Officials are postponing a crisis, not averting one. Consider borrowing. The debt-to-GDP ratio is 28 per cent, but Nigeria collects so little in tax that interest payments swallow about 60 per cent of federal revenues,”…

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Militant Ultimatum Expires Today As Bakassi Boys Are Resurrected

By Uche Mbah The Abia state government has resurrected the dreaded Bakkasi boys just as the ultimatum given to the Federal Government by the Niger Delta Militants expires today, June 1st 2019. A militant group had recently given notice to the effect that it would, on June 1st, 2019, declare a new republic, the Niger Delta republic. The group insists it no longer wanted the Niger Delta region to be part of Nigeria. For good measure, it added: “We are militarily prepared to defend our territory.” The group hinged its…

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