The Federal Government has called on the global community and International oil traders to drop their appetite for stolen crude oil from Nigeria and join in the fight against the nefarious activities of oil thieves and pipeline vandals. The appeal signaled a major focus in tackling the demand side of the global oil theft matrix which is a growing menace to the smooth operation of the oil and gas industry in ...

The huge market of second hand or used cars, popularly called 'Tokunbo' usually brought into Nigeria from the United States through Cotonou in Benin republic may have suffered a fatal blow following findings by the American authorities that the vehicles are proceeds of drug trafficking and money laundering by some criminal networks operating in Lebanon and Africa. The report of the investigations by the U.S ...

Former managing director of the Nigerian Security Printing and Minting Company, Ehi Okomoyon has been arrested by the Economic and Financial Crimes Commission, EFCC. The former Mint boss, who recently resigned his appointment on the heels of the embarrassing disappearance of millions of N1000 currency notes from the company, was picked up on Sunday, April 14, 2013. Sources at the anti- graft agency informed ...

The Action Congress of Nigeria (ACN) has warned that the rising cases of crude oil theft and pipeline vandalism in the Niger Delta will definitely worsen the country's economic woes, when placed side by side with other problems besetting the country's troubled oil sector, unless the Federal Government acts decisively to stop the criminal act In a statement issued in Lagos today by its National Publicity Sec ...

Weeks after signing the harmonized N4.987 trillion 2013 Appropriation Bill into law, President Goodluck Jonathan has rejected the budget and returned it to the National Assembly, insisting that the lawmakers must reverse themselves on a number of clauses including the zero budget for the Aruma Oteh led Securities and Exchange Commission, SEC. Besides the zero budget for SEC due to their call for the sack of ...

The federal government today intensified its efforts to cripple the multi-billionaire business empire of embattled lawyer turned businessman, Wale Babalakin who is the Chairman of Bi-Courtney Ltd. The government which recently terminated the company's concession on the Lagos-Ibadan expressway, also dragged the businessman before a high court in Lagos for money laundering charges. As if all that was not enou ...

Forty eight hours after placing a ban on its flight operations, the federal government again today asked the embattled airline to resume operations. The airline's flights were halted Saturday following a report of a fault in one of its aircrafts. Trouble began pouring in for the airline since June last year when its flight coming into Lagos from Abuja crashed in Iju-Ishaga area of Lagos killing all 154 pass ...

The federal government has again come down hard on Dana Air few days after President Jonathan sacked the Director General of the Nigerian Civil Aviation Authority, NCAA, Dr Harold Demuren. The  Federal Ministry of Aviation was said to have ordered the suspension of all Dana Air flights on Saturday after the airline reported that one of its planes had a safety issue with its batteries. The Federal Government ...

A former Managing Director and Chief Executive Officer of  defunct Bank PHB, Mr Francis Atuche has been arrested by the Economic and Financial Crimes Commission, EFCC. He was picked up on Wednesday March 13, 2013 in Lagos over a case of forgery and attempt to smuggle forged board resolutions into Keystone Bank, the successor to Bank PHB. Two other suspects implicated in the scam are Nnosiri Joachim and Ugur ...

Lagos lawyer, Femi Falana has described last week celebrated claim by Senator Ita Enang that 80 percent of Nigeria's oil blocks is owned by Northerners as totally false and misleading. The lawyer in a statement released today and obtained by iReports-ng.com said majority of the nation's oil blocks are owned by foreigners and foreign companies. The statement reads in full: "During the debate on the Petroleum ...