$2.1bn arms probe: EFCC writes Defence Hqtrs for release of more suspects

The Economic and Financial Crimes Commission, EFCC, has written to the Military High Command to release all the officers who were implicated in the fritting away of $2.1 billion meant for the procurement of arms for the prosecution of the terror war in the North-East.

Insolvency: NNPC owes IOCs $2.84bn in 11 months

The insolvency of the Nigerian National Petroleum Corporation, NNPC, has been brought to the  fore, with its inability to fund its obligation to International Oil Companies (IOCs),  as it owes its Joint Venture (JV) partners $2.839 billion, about N567.76 billion, between January and November 2015.

Motorists raise alarm over Apapa bridges

MOTORISTS plying various bridges in Apapa have called on the federal and state governments to urgently commence repair works on them to avoid imminent collapse. Motorists and commuters using the Apapa road network say they have noticed frightening movements in the expansion joints of the Ijora-Apapa bridge.

Nigeria weakens agaonst the dollar at the parrallel market

The Naira on Monday depreciated by 0.8 per cent to exchange at N265 to the dollar at the parallel market.
The News Agency of Nigeria (NAN) reports that the greenback lost N2 to the dollar from its weekend value of N263.
However, at the official interbank window, the Naira exchanged at N197 to the dollar.

Marketers justify selling petrol above N86.50

The reason why many filling stations across the country have refused to comply with the Federal Government’s directive to sell a litre of petrol for N86.50 as against the old pump price of N87 is because most of them had stockpiled the product in anticipation of a likely price increase by the government.