The Federal Airport Authority of Nigeria (FAAN) has assured all air travelers of safety and comfort throughout the festive period as the organization has put in place all measures to achieve this. The General Manager, Corporate Affair, Mrs. Henritta Yakubu gave the assurance in a statement released to newsmen on Monday in Lagos. She hinted that security measures around all the airports have been reinforced so that air travellers can use the airports without any threat.

AFDB Approves $100mil Infrastructural Loan For Sub-Saharan Africa

The African Development Bank recently approved $100 million for the Emerging Africa Infrastructure Fund (EAIF) in a bid to help reduce the huge infrastructure financing gap in Sub-Saharan Africa.

The Federal Government has confirmed the payment of the final tranche of the Paris Club refund to 27 state governments as directed by President Muhammadu Buhari. The Director of Home Finance, Federal Ministry of Finance, Mrs. Siyanbola Olabunmi confirmed the payment on Saturday while speaking at the end of the Federation Account Allocation Committee (FAAC) meeting held at the headquarters of the Ministry in Abuja.

The International Monetary Fund (IMF) says many foreign investors are willing to invest in Nigeria but are apprehensive that they may not be able to retrieve their investment. The Senior Financial Sector Expert, Debt and Capital Market Instruments Division, Monetary and Capital Markets Department, International Monetary Fund (IMF), Miriam Tamene, stated this during a visit by fund’s team to the Securities and Exchange Commission (SEC) in Abuja on Wednesday.

Some local companies not registered by the Corporate Affairs Commission (CAC) have reportedly lifted Nigerian crude oil valued at over N1.1 trillion in the last 10 months. According to an exclusive report published by Dailytrust, the repeated failure by the Nigerian National Petroleum Corporation (NNPC) to provide clear and accurate identity of some companies it awarded multi-million dollar oil lifting contracts this year is helping these companies to escape public scrutiny.

Thirteen women allegedly selling the country’s currency were arrested by the Central Bank of Nigeria, CBN, and the Rivers State Police Command in a joint sting operation in Port Harcourt.

The Command disclosed this yesterday, while briefing newsmen on the recent clamp down on individuals who engage in unlawful business on the country’s currency

It was stated that over N2 million was recovered from them by the Police in the operation carried out at Garrison, Rumuokoro, Waterlines and Eleme areas.

The House of Representatives Committee on Oil and Gas has given 10 indigenous oil companies in the country two weeks to remit 250 million dollars oil royalty to Federal Government’s coffers. Mr Jerigbe Agom, the Chairman of the committee, gave the ultimatum at the ongoing sitting over unremitted funds in the industry. According to the Chairman, Nigeria can no longer condone unbecoming acts of the operators which are capable of strangulating the nation’s oil and gas industry.

The House of Representatives Committee on Oil and Gas is investigating 10 oil companies for alleged failure to remit $250 million to the federal government.

The committee has threatened to issue a warrant of arrest on the Managing Directors of the companies if they fail to appear before it on Thursday.

Mr Jerigbe Agom, the Chairman of the committee, issued the warning at its sitting in Lagos on Wednesday.

Government Targets Additional N6billion From VAIDS

 The Federal Government is set to raise an additional N6billion from the implementation of the Voluntary Assets and Income Declaration Scheme (VAIDS) before the end of the year.

Dangote Refinery currently under construction would save Nigeria $12 billion annual import substitution, create 4,000 direct jobs and crash prices of petroleum products.

Technical Consultant to Alhaji Aliko Dangote, Mr Babajide Soyode, said the project would add value to the economy as it would also create 145,000 indirect jobs.

He said the refinery would lower the prices of petroleum products in Nigeria and save some costs on importation.