SWEET NAIJA GIST BLOG

The Economic and Financial Crimes Commission (EFCC) is set to charge six top officials of the Central Bank of Nigeria (CBN) and 16 others to a Federal High Court on June 2, for a sum of 8b Naira currency fraud. The commission said in a statement signed by its Head of Media & Publicity, Wilson Uwujaren, on Sunday that it would bring the executives before the court for their involvement in the theft and re-circulation of defaced and mutilated currencies. According to the EFCC, “The Economic and Financial Crime Commission (EFCC) has concluded arrangement to arraign in court, five top executives of the Central Bank of Nigeria (CBN), implicated in a mega scam involving the theft and re-circulation of defaced and mutilated currencies. “The suspects drawn from various business units of the apex bank are to be docked by the anti-graft agency before a Federal High Court sitting in Ibadan, Oyo State, from Tuesday June 2, 2015 to Thursday June 4, 2015. “They include Patie...

Former Central Bank Governor and now Emir of Kano, Muhammadu Sanusi II who blew the lid on the missing NNPC money has reviewed the recently released PWC auditors report on the missing NNPC monies. He shared his thoughts in a piece titled 'Unanswered questions on Nigeria’s missing oil revenue billions" published in the Financial Times yesterday May 13. Read what he wrote below Just over a year ago President Goodluck Jonathan suspended me from my position as governor of the Central Bank of Nigeria after I questioned an estimated $20bn shortfall in oil revenues due to the treasury from the state oil company. As I said then, you can suspend a man, but you cannot suspend the truth. The publication last month of a PwC audit into the “missing billions” brings us a step closer to it. When I was central bank governor I raised three broad questions. First, did the Nigerian National Petroleum Corporation remit to the government the entire proceeds of its crude oil sales? S...

UNITED Bank for Africa (UBA) Plc, has trained no fewer than 300 students from various secondary schools in Anambra State on money transaction. The training according to the bank is aimed at teaching the students how to make and save money. Delivering a speech to mark the 2015 financial literacy day held at Girls Secondary School, Amaenyi, Awka, in Anambra state, and organized by UBA for students in the State, the Group Managing Director, UBA, Philip Oduoza said the training will encourage the students to become good financial managers in future. Oduoza who praised the students’ performance after listening to their questions during the training, hailed the efforts of Governor Willie Obiano, the Schools management and teachers for giving quality education to the students. He said:“I am impressed by the level of their knowledge in finance, following questions the students asked,” adding that, the Bank will consider applicants from Anambra first during recruitment exercise. The Grou...