More revelations by the House of Representatives Committee on Public Accounts indicated on Thursday that the Office of the Head of Service of the Federation could not account for N35bn it collected from the Service Wide Vote within nine years. While the records of the Budget Office of the Federation […]

A U.S. judge wrestled on Thursday with a U.S. Justice Department request that Bank of America Corp pay $2.1 billion in penalties after being found liable for fraud over defective mortgages sold by its Countrywide unit. In a second hearing on the penalties to be imposed on the bank, U.S. […]

Nigerian lawmakers haven’t passed a long-delayed oil industry reform bill because of “intensive lobbying by interest groups,” Finance Minister Ngozi Okonjo-Iweala said. Foreign and Nigerian groups “benefit from the status quo either through favorable oil deals or favorable treatment by the Nigerian tax system,” she wrote in an opinion piece […]