Saturday, March 7

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FACTI Panel Calls for Action Against Illicit Financial Flows
21Mar By Skye ZacharyNo Comments
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FACTI Panel Calls for Action Against Illicit Financial Flows

To say that global finance is currently skewed in a manner that allows tax abuses, corruption, and illicit financial flows (IFFs) to flourish would be stating the obvious. This is because of obvious gaps, loopholes and shortcomings in rules, and their implementation which allow these abuses to flourish. (more…)
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Atiku: $1.5bn to Renovate Port Harcourt Refinery is Suspicious At The Least
18Mar By Sharpedge NewsNo Comments
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Atiku: $1.5bn to Renovate Port Harcourt Refinery is Suspicious At The Least

That Nigeria’s economy is in dire straits is a fact well-known both to the nation and to our international partners. Unemployment has just reached an all time high of 33%, while inflation has hit another record high of 17%. At this critical period, we must as a nation be prudent with the use of whatever revenue we are able to generate, and even if we must borrow, we must do so with the utmost responsibility and discipline. To therefore budget the sum of $1.5 billion to renovate or turn around the Port Harcourt Refinery would appear to be an unwise use of scarce funds at this critical juncture for a multiplicity of reasons. First of all, our refineries have been loss-making for multiple years, and indeed, it is questionable wisdom to throw good money after bad. At other times, ...
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Bill to Establish Armed Forces Service Commission suffers Setback in Senate
17Mar By Sharpedge NewsNo Comments
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Bill to Establish Armed Forces Service Commission suffers Setback in Senate

A bill seeking the establishment of Armed Forces Service Commission on Wednesday was stepped down after generating mixed feelings amongst Senators during plenary. The bill was sponsored by the Minority Leader, Senator Eyinnaya Abaribe (PDP, Abia South). Leading debate on the bill, Abaribe said the piece of legislation seeks to get the National Assembly to give effect to the clear provisions of section 219 of the Constitution of the Federal Republic of Nigeria as amended.  Advancing arguments in support of the bill, Abaribe opined that, “the Armed Forces of Nigeria is a National institution of Nigeria that should be insulated from the vagaries of political divisions.” According to him, “the framers of the constitution in their wisdom inserted section 219 to prevent a situa...
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CAMA: CAN Institutes Legal Action Against FG
16Mar By Dayo OmoogunNo Comments
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CAMA: CAN Institutes Legal Action Against FG

The Christian Association of Nigeria (CAN) has gone to court to challenge the legality or otherwise of the just gazetted controversial Companies and Allied Matters Act 2020 popularly called CAMA over some provisions which CAN is not comfortable with.  (more…)
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