Claims by the Nigerian National Petroleum Corporation, NNPC, that over 80 per cent of the controversial $10.8billion (about N1.728trillion) was used for subsidy on kerosene may have been a scam after all. Multiple confidential memos exclusively obtained by PREMIUM TIMES showed that the purported subsidy on kerosene was actually in […]
Tag: Nigerian National Petroleum Corporation
NNPC’s unremitted funds: $20bn remains unexplained – CBN
The Central Bank Governor (CBN), Sanusi Lamido Sanusi, today informed the Senator Ahmed Makarfi led Committee on Finance investigating the allegations of unremitted funds into the Federation Account that out of the $67 billion crude oil sales that was processed and expected to be remitted to the constitutionally provided for […]
External reserves climb to $42bn
Latest figures from the Central Bank of Nigeria have shown that foreign exchange reserves jumped to $42.02bn by October 17, the highest in 32 months and an increase of 3.11 per cent, month-on-month. Figures on the CBN website showed that the reserves, which stood at $40.75bn a month ago, were […]
