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A STATEMENT BY THE FEDERAL MINISTRY OF FINANCE PREAMBLE This statement is being issued to apprise Nigerians of some key developments in the management of fuel subsidy payments which are important to understanding the approach adopted by the Federal Government on this issue which understandably has attracted a lot of public attention. PAYMENT OF MARKETERS The position of the Federal ...

LAGOSIANS woke up yesterday to find a team of battle-ready policemen at the Gani Fawehinmi Freedom Park in Ojota on the outskirts of the city. Their presence is belived to be the government’s reaction to the protest being planned by the Save Nigeria Group (SNG) and other activists against the alleged N1.070 trillion fraud exposed by the report of the ...

(Premium Times) – In spite of the allegations of massive corruption linking their offices to the shoddy management of fuel subsidy fund, Minister of Petroleum Resources, Diezani Alison-Madueke, and the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Austen Oniwon, say they are not contemplating resignation from office on the strength of the report of the House of Representatives Ad-hoc ...

The convener of Save Nigeria Group, Pastor Tunde Bakare, and others on Friday, served notice to the Federal Government of another round of mass protest in Lagos and other towns in the country, following the House of Representatives’ report on how over N1.7trn was looted by fuel marketers’and government agencies. Bakare in an exclusive interview with SUNDAY PUNCH said the ...

The report of the House of Representatives Ad Hoc Committee on Fuel Subsidy Management claimed its first casualties yesterday. The Federal Government, apparently taking a cue from the panel’s recommendations,sacked two accounting firms responsible for certifying fuel subsidy claims by marketers. Sacked were Akintola Williams and Co and Adekanola and Co. It also stopped withdrawal from the Excess Crude Account. ...