Finance

The Senate Committee on Public Accounts has begun an investigation of N14.7bn proceeds of privatisation of the defunct Power Holding Company of Nigeria allegedly hidden in commercial banks by the Bureau of Public Enterprise. The committee is acting on an audit query in the ‘Auditor-General for the Federation’s Annual Report on Non-Compliance/Internal Control Weaknesses Issues in Ministries, Departments and Agencies of the Federal Government of Nigeria for the Year Ended 31st December, 2019.’ The Acting Auditor-General of the Federation, Adolphus Aghughu, had presented the report to the Clerk to the National Assembly, Ojo Amos, on September 15, 2021, while the Senate and House Committees on Public Accounts began an investigation of the queries. The defunct government-owned National...

The Minister of Transportation, Rotimi Amaechi, says the money left behind for Nigeria by former President Goodluck Jonathan at the point of his departure on May 29, 2015 was not enough to run the affairs of the country for three weeks. Amaechi, who is a former Chairman of the Nigerian Governors’ Forum, said this on a Channels Television’s programme titled, ‘Hard Copy’. The former governor of Rivers State claimed that while he headed the governors’ forum, he was informed by Presidency officials that there was virtually nothing left in the treasury. Read Also: House Of Representatives’ PDP Caucus Calls For Buhari’s Resignation The minister added, “When you talk about bandits and all these people that kill. It is a question about poverty. And that poverty didn’t start in this reg...