The Nigerian National Petroleum Corporation (NNPC) has denied the report that it kept funds in some commercial banks, rather than remitting into the treasury single accounts (TSA) as directed by the federal government. In a statement by Ndu Ughamadu, its group general manager, group public affairs division, the corporation described the allegation as not only […]
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A federal high court sitting in Lagos has granted an interim order for the remittance of a total of $793,200,000 allegedly hidden by seven commercial banks in violation of the constitution and the treasury single account (TSA) policy of the federal government. Chuka Obiozor, the presiding justice, ordered the banks to remit the various amounts […]
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The Federal Government has recorded a whopping over N7 trillion in the Treasury Single Account (TSA) towards the end of March 2017, Accountant General of the Federation (AGF), Mr Ahmed Idris has said. In an interview with the Economic Confidential in Abuja, Mr Idris further said the amount represents monies belonging to different Ministries, Departments […]
Continue ReadingThe Sub-committee on Payments Systems and Infrastructure of the Bankers Committee, last week sent a proposal to the Central Bank of Nigeria (CBN), seeking to limit over the counter cash withdrawal by bank customers to N10,000. The proposal was presented at the committee’s meeting but it is not clear whether it was considered. The CBN […]
Continue ReadingIn a statement released on Tuesday, by the PDP National Publicity Secretary, Chief Olisa Metuh, the party said it also wished “to remind the Buhari administration that in handling the affairs of governance, it should endeavor to be honest, truthful and open in its dealing with Nigerians.” He said the reminder became imperative, having “watched with […]
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