My Mother was Abducted over Subsidy Claims – Dr. Ngozi Okonjo-Iweala

Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala

• Says she was denied food, water for five days 

•PPPRA: Subsidy payments may hit N1.23tn

Ndubuisi Francis and Onwuka Nzeshi in Abuja

Barely three days after her mother, Prof. Kamene Okonjo, was freed, Coordinating Minister for the Economy and Minister of Finance,…

We Will Occupy The National Assembly If They Pass The Supplementary Budget Of N161 Billion For Fuel Subsidy – Dino Melaye

Last year, 2011 the National Assembly appropriated N245 billion for fuel subsidy. In violation of the Appropriation ACT 2011 and the Fiscal Responsibility ACT 2007, the Central Bank of Nigeria paid N2.3 trillion for fuel subsidy on the basis of fraudulent, satanic and wicked recommendations of the Ministries of Finance and Petroleum resources.

In 2011 budget, the sum…

PriceWaterHouse and CBN Confirm A Total of N232 billion Stolen in Subsidy Fraud

The Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, has revealed that after a verification of the report submitted by the Aig-Imoukhuede-led Presidential Task Force on verification of fuel subsidy claims, it has been confirmed that a total of 232 Billion Naira was stolen by fraudulent marketers in the subsidy regime.

This amount was verified by the consulting firm, PriceWaterHouse and the Central…

Fuel subsidy stays in 2013, says Jonathan

President Goodluck Jonathan last night said Nigerians would continue to enjoy oil subsidy in 2013, dismissing insinuations that the Federal Government had planned to remove it.

Jonathan said in Abjua during the Presidential Media Chat, that the 2013 budget, currently before the National Assembly, contained provisions on subsidy and that if the government wanted to…

Jonathan insists on removal of fuel subsidy

President Goodluck Jonathan Thursday renewed the call for the removal of fuel subsidy saying this is the only way to encourage private investment into the nation’s refineries.

He spoke in Abuja when he met Participants of the 2012 Senior Executive Course, 34 of the National Institute for Policy and Strategic Studies, NIPSS.

He said looking at what is obtainable in other countries, Nigeria stand to gain more if she allows market…

Dino Melaye lacks honour and common decency – Okonjo Iweala

The Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has described Dino Melaye as a “disreputable former member of the House of Representatives”. She also accused Melaye of lacking honour and common decency as well as being sponsored by oil marketers indicted in the subsidy probe.

She was responding to the demonstration led by…

Jonathan Vows To Recover Stolen Subsidy Funds

President Goodluck Jonathan on Tuesday vowed to recover all funds stolen by marketers from the petroleum subsidy scheme.

The president also warned that corrupt officials and fraudsters in Nigeria would not be spared as culprits would be severely punished to serve as deterrence to others.

Jonathan gave the assurances and warnings in Abuja at the launch of a Book titled; “Reforming the Un-reformable” written by Dr Ngozi Okonjo-Iweala, Minister of Finance…

Fuel Subsidy Trial – Uba to Remain in Custody

Lagos — The Chief Executive Officer of Capital Oil and Gas, Ifeanyi Uba and four other oil marketers standing trial on alleged fuel subsidy scam will remain in the custody of the Special Fraud Unit of the Nigeria Police as a Federal High Court sitting in Lagos yesterday threw out their bail applications.

Uba is standing trial alongside Nsika Usoro, Godfrey Okorie, Chibuzor Ogbuokiri, and Joseph Orji, all of whom…

Subsidy scam: Capital oil’s boss regains freedom

The Chief Executive Officer of Capital Oil and Gas Industries Limited, Ifeanyi Uba, who has been in police custody for over two weeks, on Monday regained his freedom.

The Chief Executive Officer of Capital Oil and Gas Industries Limited, Ifeanyi Uba

Mr Uba was arrested by the Nigerian security operatives for his alleged role in…

Fuel Subsidy To Go Next Year – Sanusi

He noted that the amount in the ECA was $ 8 billion as at October 3 and had been projected to grow to $ 10 billion by the end of this year. Sanusi, who also represented the Coordinating Minister for the Economy and Finance Minister, Dr. Ngozi Okonjo-Iweala, said was that eventually, subsidy on petroleum products would be removed, even though he acknowledged that it was difficult removing 50 per…