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Market Digest Nigeria


Nigeria Newspaper Headlines (18th April,2019)

Nigeria Newspaper Headlines

The following stories made top Nigeria Newspaper Headlines on Thurday April, 2019.

Nigeria Newspaper Headlines

Punch Newspaper: $2.1bn Malabu scam: EFCC says it’s working with Interpol to arrest Adoke, Etete

The High Court of the Federal Capital Territory in Jabi, Abuja on Wednesday, ordered the arrest of the immediate-past Attorney-General of the Federation, Mr. Mohammed Adoke, a former Minister of Petroleum Resources, Dan Etete, and four others. The six are named in the charges filed by the Economic and Financial Crimes Commission in relation to the $2.1bn Malabu Oil scam.

According to the EFCC, the charges bordered on fraudulent allocation of the Oil Prospecting Licence 245 and money laundering involving the sum of about $1.2bn, forgery of bank documents, bribery and corruption. The alleged $1.2bn scam involved the transfer of the OPL 245 purportedly from Malabu Oil and Gas Limited to Shell Nigeria Exploration Production Co. Limited and Nigeria Agip Exploration Limited.

Nigeria Newspaper Headlines

Guardian Newspaper: Senate begins move to override Buhari on budget timeline bill

The Senate yesterday began the process of overriding President Muhammadu Buhari’s veto on the budget timeline bill. It arrived at the decision after adopting the report of a technical committee it set up to study bills rejected by the president.

The bill seeks to amend the 1999 Constitution by making it mandatory for the president and state governors to lay budget estimates before parliament, three months to the end of a financial year. It will also compel the parliament to pass the budget before the commencement of the next financial year.

The proposed legislation tagged “SB.733, the Constitution of the Federal Republic of Nigeria, 1999 (Fourth Alteration, No. 28) Bill” was read for the first time on Tuesday and went through second reading yesterday. The bill was sponsored by Deputy Senate President Ike Ekeweremadu.

Nigeria Newspaper Headlines

The Nation Newspaper: Buhari challenges Atiku to present his credentials

President Muhammadu Buhari has responded to allegations in the petition by Atiku Abubakar and his party, the People’s Democratic Party (PDP), before the Presidential Election Tribunal. Buhari, in a response filed on Tuesday by a team of lawyers led by Wole Olanipekun (SAN), debunked Atiku’s and PDP’s claim  that he was not qualified to run for President.

The President said he was far more qualified than Atiku and challenged him to produce his academic credentials before the tribunal. He argued that Atiku was not qualified to run for the office.

Nigeria Newspaper Headlines

Sun Newspaper: Ministers get deadline on handover notes

Ministers have been given till April 24 to submit all pending memos as President Muhammadu Buhari’s administration winds down and another begins on May 29.

President Muhammadu Buhari has ordered ministers, departments and agencies to submit a comprehensive “status reports on policies, programs and projects” by April 24. This was even as cabinet members have been informed that the “9th and 10th meetings of the Federal Executive Counci have been rescheduled to Thursday, April 25 and Thursday, May 2, respectively,” in view of the Easter break and May Day celebrations.

The ministers are to ensure that all outstanding memoranda they intend to present to the Council meeting are submitted to the Cabinet Affairs Office, Office of the Secretary to the Government of the Federation, not later than Tuesday, next week.

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