NIGERIA NEWSPAPERS: TODAY’S PUNCH NEWSPAPER HEADLINES [30 AUGUST, 2018].

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Illegal funds repatriation: CBN fines four banks N5.8bn, orders lenders, MTN to refund $8.1bn
Thu, 30 Aug 2018
The Central Bank of Nigeria has imposed heavy fines totalling N5.87bn on four banks under its regulatory purview for alleged illegal funds repatriation.

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It also directed the managements of the banks and MTN Nigeria Communications Limited to immediately refund to the apex bank $8,134,312,397.63, which was said to have been illegally repatriated by the company.

A statement from the CBN on Wednesday said it asked the banks and MTN to refund money for what it described as ‘flagrant violation of extant laws and regulations of the Federal Republic of Nigeria, including the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995 of the Federal Republic of Nigeria and the Foreign Exchange Manual, 2006’.

The four banks that came under the sledge hammer of the CBN for the violations are Standard Chartered Bank, Stanbic-IBTC, Citibank and Diamond Bank.

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The Director, Corporate Communications, CBN, Isaac Okorafor, said that the actions of the bank became necessary following allegations of remittance of foreign exchange with irregular Certificates of Capital Importation issued on behalf of some offshore investors of MTN Nigeria Communications Limited and subsequent investigations carried out by the apex bank in March 2018.

“The CBN has therefore asked the managements of the banks and MTN Nigeria Communications Limited to immediately refund the sum of $8,134,312,397.63, illegally repatriated by the company to the coffers of the Central Bank of Nigeria,” it stated.

Figures obtained from the CBN on Wednesday indicated that the highest fine of N2.47bn was slammed on Standard Chartered Bank, while Stanbic IBTC Nigeria was fined N1.885bn.

Citibank Nigeria was penalised to the tune of N1.265bn, just as Diamond Bank was directed to pay N250m for violating extant rules.

The CBN spokesman further disclosed that the decision of the bank followed its thorough investigations into the allegations.
Okorafor said the investigations revealed that the sum of $3.448bn was repatriated by Standard Chartered Bank on the basis of the illegally issued CCIs.

Similarly, he added that the sums of $2.632bn, $1.766bn and $348.914m were repatriated by Stanbic IBTC Nigeria, Citibank Nigeria and Diamond Bank Plc, respectively between 2007 and 2015.

He said the CBN had directed the affected banks to immediately refund the respective sums to the CBN.

“The CBN’s investigation further revealed that on account of illegal conversion of MTN shareholders’ loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated by the company,” the statement said.

He said that the investigations by the CBN took a while in order to carry out thorough inquiry and give a fair hearing to all parties involved.

Okorafor advised all banks and multinational companies in Nigeria to adhere strictly to the provisions of all extant laws and regulations of Nigeria in their foreign exchange transactions.

He warned that failure by the management of banks and companies to abide by the existing guidelines would be appropriately sanctioned, adding that the sanctions would include denial of access to the Nigerian foreign exchange market.

Several calls made by one of our correspondents to spokespersons for the affected banks and MTN were not responded to as of 9.30pm on Wednesday.

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BREAKING: Buhari, Osinbajo, Tinubu arrive for crucial NEC meeting
Thu, 30 Aug 2018
John Alechenu, Abuja President Muhammadu Buhari, Vice President Yemi Osinbajo, and National Leader of the All Progressives Congress have arrived the APC National Secretariat for the partys National Executive Council meeting. The partys National Chairman, Adams Oshiomhole, is leading other members of the National Working Committee to the meeting. President Buhari arrived the venue at []
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Rivals attack Pope Francis over abuse claims
Thu, 30 Aug 2018
Allegations that Pope Francis covered for a senior US cardinal accused of abuse have raised questions about a possible plot against the pontiff by figures within the Catholic Churchs ultra-conservative hierarchy. Archbishop Carlo Maria Vigano, a former Vatican envoy to Washington, dropped an 11-page bombshell at the weekend accusing Francis of ignoring sexual abuse allegations []
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MTN refutes claims of illegalrepatriation of $8.1bn
Thu, 30 Aug 2018
Ife Ogunfuwa MTN Nigeria has denied its involvement in the illegal repatriation of dividends worth $8.1bn between 2007 and 2015. The telecoms company through its Public Relations Manager, Funso Aina, on Thursday, acknowledged the receipt of a letter from the Central Bank of Nigeria regarding the allegations on August 29, 2018. The company said it []
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Second batch of Lagos pilgrims arrive today Board
Thu, 30 Aug 2018
The second batch of 310 Lagos pilgrims will be transported back to Nigeria from Saudi Arabia aboard Medview Airline on Thursday. Mr Abdulrahaman Ishola, Executive Secretary, Lagos State Muslim Pilgrims Welfare Board, made this known on Thursday in Lagos. The second batch of 310 pilgrims are ready to be transported back home today. We []
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Agency says early sex initiation increases HIV vulnerability
Thu, 30 Aug 2018
The Nasarawa State AIDS Control Agency has identified early sex initiation as one of the factors increasing the vulnerability of HIV/AIDS among Adolescent and Young Persons in the state. The Executive Director of the agency, Dr Ruth Adabe, said this on Thursday in Keffi while presenting an overview of PMTCT and AYP of the state []
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IGP warns against inciting violence ahead of Osun poll
Thu, 30 Aug 2018
Femi Makinde, Osogbo The Inspector General of Police, Mr. Ibrahim Idris, has warned politicians in the country to desist from acts and utterances capable of precipitating violence ahead of the Osun State governorship poll as well as the 2019 general election. The IGP gave the warning in Osogbo on Thursday at aone-day seminar with the []
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Macron under fire for calling French resistant to change
Thu, 30 Aug 2018
French President Emmanuel Macron came under attack from the opposition on Thursday after describing his countrymen as Gauls who are resistant to change during a trip to Denmark. The comments came during an exchange with French expatriates in the Scandinavian country, which Macron has long admired because of its economic model that mixes a strong []
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Murray true to word with second round exit at US Open
Thu, 30 Aug 2018
Andy Murray lived up to his pre-tournament prediction that he would not win this years US Open when he was beaten 7-5 2-6 6-4 6-4 by Spains Fernando Verdasco in the second round on Wednesday. The former world number one and 2012 US Open champion, who is still working his way back from hip surgery []
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Archbishop demands Popes resignation, says corruption reaches the top
Thu, 30 Aug 2018
The archbishop who sparked a crisis in the Catholic Church by calling on Pope Francis to resign has denied he was motivated by personal vendetta and said he sought to show that corruption had reached the top levels of the Church hierarchy. Archbishop Carlo Vigano has gone into hiding since conservative media published an 11-page []
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Linking us to Kwankwasos inability to use Eagle Square mischievous APC
Thu, 30 Aug 2018
John Alechenu and Olusola Fabiyi The All Progressives Congress has described attempts to link it to the inability of an aspirant of the Peoples Democratic Party to secure the use of the Eagle Square, to declare his intention to run for the office of President as mischievous. Although the APC did not name the aspirant, []
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Xenophobia: Three killed in Soweto South African Police
Thu, 30 Aug 2018
The Police on Thursday said three people were killed during looting in Johannesburgs sprawling Soweto township. The police also confirmed that 27 people have so far been arrested in the violence, which had a xenophobic component. I can confirm that two were shot and one was stabbed, police spokesman Lungelo Dlamini said on local television []
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Bale can fill Ronaldo boots at Real, says Giggs
Thu, 30 Aug 2018
Gareth Bale can cope with the pressure of replacing Cristiano Ronaldo as the star man at Real Madrid, says his Wales boss Ryan Giggs. Bale has become the main forward at Real since Ronaldos summer departure to Juventus, scoring in their opening La Liga wins against Getafe and Girona. When someone like Cristiano leaves there []
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Pressure on United to get back on track at Burnley
Thu, 30 Aug 2018
Pressure is on Manchester United as they visit Burnley on Sunday, desperate to avoid a third straight defeat in what has been a poor start to their Premier League campaign. Mondays 3-0 home defeat by Tottenham Hotspur followed the 3-2 loss at Brighton & Hove Albion and shaky defending was to blame for both losses []
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Serena sees off Witthoeft to set up Venus clash
Thu, 30 Aug 2018
Serena Williams overpowered German Carina Witthoeft 6-2 6-2 to set up a third-round clash with big sister Venus at the US Open on Wednesday. Williams sent down 13 aces and 30 winners to record her second consecutive straight sets victory at Flushing Meadows. The 36-year-old hunting a record-equalling 24th Grand Slam title, wrapped up the []
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Fraud: Eight Malaysian former spies under probe
Thu, 30 Aug 2018
A group of former agents from Malaysias foreign intelligence agency, including its chief, are being investigated for alleged misappropriation of government funds, a senior Malaysian anti-graft official said on Thursday. The probe by the Malaysian Anti-Corruption Commission is the latest in a widening crackdown by Prime Minister Mahathir Mohamads government on corruption allegedly linked to []
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Army committed to working with UN to ensure return of IDPs in North-East Acting Commander
Thu, 30 Aug 2018
The Nigerian Army says it is committed to working with the United Nations and other humanitarian organisations to ensure safe return of Internally Displaced Persons to their communities in the North-East. Brig.-Gen. Uwem Obassey, Acting Commander, Sector 3 Operation Lafiya Dole, made the pledge during a courtesy visit to him by a delegation from United []
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German police ready for new anti-migrant rally Official
Thu, 30 Aug 2018
German police on Thursday brace up for fresh anti-immigrant rally in the eastern city of Chemnitz after two similar protests resulted in clashes and attacks against foreigners. Far-right group Pro Chemnitz wrote on Facebook, where it has 18,00 followers, that it would stage a protest at 6pm near a football stadium in the city. An []
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Court sentences ex-policeman to 15 years in prison for killing teen
Thu, 30 Aug 2018
Texas jurors sentenced former police officer Roy Oliver to 15 years of jail for murdering a black teenager, local media reported. The incident took place in 2017 in Balch Springs, Dallas County. Oliver responded to a call from a party and opened fire at a vehicle moving away from the site, hitting unarmed Jordan Edwards []
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Media outlet shuts down after three reporters are killed Central African Republic
Thu, 30 Aug 2018
A Russian investigative media outlet that sent three journalists on a mission to the war-torn Central African Republic announced that it was shutting down. The Investigation Control Centre admitted previously that Orkhan Dzhemal, Kirill Radchenko and Alexander Rastorguyev were on a privately organized mission to shoot a documentary about Russian military trainers when they were []
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UK mulls ban on sale of energy drinks to kids
Thu, 30 Aug 2018
Britains government launched a public consultation on Thursday over plans to ban the sale of energy drinks to young people, as it grapples with some of Western Europes worst child obesity rates. Prime Minister Theresa Maywants to prevent retailers from selling popular energy drinks, such as Red Bull, Monster and Relentless, to children because of []
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Goats can distinguish happy faces from angry ones Study
Thu, 30 Aug 2018
A new study shows that goats prefer a happy human face instead of an angry one, which suggests such socio-cognitive ability is more widespread in the animal kingdom than previously assumed. The research, conducted by scientists from the British Royal Society to ascertain goats ability to understand human social cues, used 35 goats for the []
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Nadal at the double in US Open win over Pospisil
Thu, 30 Aug 2018
World number one and defending champion Rafael Nadal raced into the third round of the US Open on Wednesday with a straight-sets win over Vasek Pospisil. In a match where the 25-second serve clock provided much of the drama with both players receiving time violation warnings 17-time Grand Slam champion Nadal triumphed 6-3, []
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Flood hits eight LGAs in Kano
Thu, 30 Aug 2018
Kano State Emergency Relief and Rehabilitation Agency says it has dispatched personnel to eight local government areas of the state recently affected by flood to assess the damage caused by the disaster in the areas. The Executive Secretary of the agency, Alhaji Ali Bashir, disclosed this in an interview with the News Agency of Nigeria []
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Panasonic to move UK headquarters on Brexit fears
Thu, 30 Aug 2018
Panasonic plans to move its European headquarters from Britain to the Netherlands later this year over concerns about potential tax issues related to Brexit, a company spokeswoman said on Thursday. We will move our European headquarters to the Netherlands, the spokeswoman told AFP, confirming a report in the Nikkei business daily about the Japanese electronics []
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Trump unblocks critics on Twitter as ordered by court
Thu, 30 Aug 2018
More critics of US Donald Trump found themselves unblocked from his Twitter account on Wednesday, in keeping with a court ruling that he cant shut out opposing viewpoints. A federal district court judge in May ruled that blocking people from the presidents @realDonaldTrump account violated First Amendment free speech rights in a case brought by []
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Serena, Venus to meet for 30th time at US Open
Thu, 30 Aug 2018
Serena and Venus Williams will clash for the 30th time on Friday with a place in the last 16 of the US Open at stake. Six-time champion Serena eased into the third round encounter with a 6-2, 6-2 win over German world number 101 Carina Witthoeft on the back of 30 winners and 13 aces. []
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US Open: Verdasco halts Murrays Grand Slam return
Thu, 30 Aug 2018
Andy Murrays first Grand Slam in more than a year ended with a second-round exit at the US Open, where he fell in four sets to Spains Fernando Verdasco on Wednesday. Verdasco, seeded 31st, had lost 13 of 14 prior matches with the Scot, who claimed the first of his three Grand Slam titles at []
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Former world boxing champ arrested for assault
Thu, 30 Aug 2018
Former world middleweight boxing champion Jermain Taylor was arrested on Wednesday on domestic assault charges, Arkansas television station KATV reported. Taylor, who turned 40 earlier this month, was booked in Pulaski County Jail on charges of third degree domestic battery and aggravated assault, according to an arrest report seen by the Little Rock station. READ []
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How we connected Tuface to Campari Owolabi
Thu, 30 Aug 2018
Akeem Lasisi Lead Consultant at Maxx Connection, Owolabi Mustapha, is currently on the high sea of fulfilment. This is as a result of the success that his company has made in the five years of its existence. According to him, experiential marketing, where the organisation is operating, has continued to gain ground based on the []
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Nervous Bolt prepares for football debut
Thu, 30 Aug 2018
Usain Bolt is set to get a first taste of competitive football on Friday in a much-hyped game, but the sprint superstar admits he is nervous with his fitness levels not up to scratch. The Jamaican is likely to be handed a 10 or 15 minute run-out for Australias Central Coast Mariners in a friendly []
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Report on Sept 4, police tell Fani-Kayode
Thu, 30 Aug 2018
Adelani Adepegba, Abuja Following his request for extension of time, the police have directed a former Minister of Aviation, Chief Femi Fani-Kayode, to report for questioning on September 4, 2018 in respect of a petition against him. The force in a letter dated August 23, 2018 and signed by CP Habu Sani of the Inspector-General []
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48,000 jostle for 2,000 jobs in Ekiti
Thu, 30 Aug 2018
Kamarudeen Ogundele, Ado Ekiti No fewer than 48,000 unemployed youths on Tuesday sat for the Ekiti State Public Service recruitment examination. The states Head of Service, Dr Olugbenga Faseluka, said the recruitment was aimed at filling available vacancies in the public service. He stated that the retirement of workers who were employed en masse between []
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Im for free, fair 2019 elections, Buhari assures Theresa May
Thu, 30 Aug 2018
Olalekan Adetayo, Abuja President Muhammadu Buhari on Wednesday assured the British Prime Minister, Theresa May, that he was all out to ensure free, fair and credible elections in 2019. He said he was pleased that his party, the ruling All Progressives Congress, was doing well. The Special Adviser to the President on Media and Publicity, []
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Pay back your bank loans, FG tells farmers
Thu, 30 Aug 2018
Okechukwu Nnodim, Abuja The Federal Government on Wednesday charged farmers and industrialists to repay the loans they took from banks following the new agricultural lending rate recently announced by the Central Bank of Nigeria. Before the announcement of the new agricultural lending rate of nine per cent by the CBN, the Deposit Money Banks provided []
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Only failed nations wont feed its people US Ambassador
Thu, 30 Aug 2018
Olufemi Atoyebi, Ibadan The United States Ambassador to Nigeria, Stuart Symington, on Wednesday said any society that failed to feed its people should be considered a failed society. Symington said this at the International Institute of Tropical Agriculture, Ibadan during the presentation of a group of young entrepreneurs under the platform of Enable Youth Agriculture []
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NNPC to establish 200,000bpd condensate refineries
Thu, 30 Aug 2018
Okechukwu Nnodim, Abuja The Nigerian National Petroleum Corporation has said it will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assa North/Ohaji South Areas of Delta and Imo states. Natural gas condensate is a low-density mixture of hydrocarbon liquids that are present as gaseous []
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Pay back your bank loans, FG tells farmers
Thu, 30 Aug 2018
Okechukwu Nnodim, Abuja The Federal Government on Wednesday charged farmers and industrialists to repay the loans they took from banks following the new agricultural lending rate recently announced by the Central Bank of Nigeria. Before the announcement of the new agricultural lending rate of nine per cent by the CBN, the Deposit Money Banks provided []
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Rescue Leah, other girls in Boko Haram captivity, ACF tells FG
Thu, 30 Aug 2018
Godwin Isenyo, Kaduna The Arewa Consultative Forum on Wednesday asked the All Progressives Congress-led government of President Muhammadu Buhari to rescue Leah Sharibu and other Chibok schoolgirls abducted by the Boko Haram insurgents. The northern apex body made the call in a statement by its National Publicity Secretary, Alhaji Muhammad Ibrahim-Biu, in Kaduna on Wednesday. []
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UBA grows gross earnings by 16%
Thu, 30 Aug 2018
Nike Popoola United Bank for Africa Plc has said its gross earnings rose by 16 per cent in the second quarter of 2018 financial period. According to a statement from the bank on Wednesday, its second quarter performance showed strong growth across key performance metrics as well as a significant contribution from its African subsidiaries []
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UBA grows gross earnings by 16%
Thu, 30 Aug 2018
Nike Popoola United Bank for Africa Plc has said its gross earnings rose by 16 per cent in the second quarter of 2018 financial period. According to a statement from the bank on Wednesday, its second quarter performance showed strong growth across key performance metrics as well as a significant contribution from its African subsidiaries []
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Nigeria, UK sign defence, economic agreements
Thu, 30 Aug 2018
Olalekan Adetayo, Abuja Nigeria and the United Kingdom on Wednesday signed two agreements Defence and Security Partnership and Economic Development Forum. The agreements were signed on the sidelines of the visit of the British Prime Minister, Theresa May, to President Muhammadu Buhari at the Presidential Villa, Abuja. The signing session was witnessed by the []
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NIPOST set to begin electronic money transfer service
Thu, 30 Aug 2018
Everest Amaefule, Abuja The Nigerian Postal Service is set to roll out a new product electronic money order that would enable customers in both rural and urban communities to transfer and receive money across the country. The Postmaster General of the Federation, Mr Bisi Adegbuyi, disclosed this when the Indian High Commissioner to []
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NIPOST set to begin electronic money transfer service
Thu, 30 Aug 2018
Everest Amaefule, Abuja The Nigerian Postal Service is set to roll out a new product ‘ electronic money order ‘ that would enable customers in both rural and urban communities to transfer and receive money across the country. The Postmaster General of the Federation, Mr Bisi Adegbuyi, disclosed this when the Indian High Commissioner to []
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Let courts determine whats security threat, Falana replies Buhari
Thu, 30 Aug 2018
Eniola Akinkuotu, Abuja A human rights lawyer, Mr. Femi Falana (SAN), has advised President Muhammadu Buhari to let the courts decide what constitutes a threat to national security instead of allowing security agencies to disobey court judgments under the guise of national security. Falana, who was a discussant at the 58th Annual General Conference of []
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We’ve paid $15bn dividends, $6.5bn taxes to FG ‘ NLNG
Thu, 30 Aug 2018
John Ameh, Abuja The Nigerian Liquefied Natural Gas Limited said on Wednesday that it had so far paid to the Federal Government dividends in excess of $15bn. The Managing Director, NLNG, Mr Tony Attah, who gave the figure in Abuja, also said the company had paid $6.5bn in taxes since 2009. Attah was testifying before []
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Weve paid $15bn dividends, $6.5bn taxes to FG NLNG
Thu, 30 Aug 2018
John Ameh, Abuja The Nigerian Liquefied Natural Gas Limited said on Wednesday that it had so far paid to the Federal Government dividends in excess of $15bn. The Managing Director, NLNG, Mr Tony Attah, who gave the figure in Abuja, also said the company had paid $6.5bn in taxes since 2009. Attah was testifying before []
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Customs probe military wares importation
Thu, 30 Aug 2018
Ifeanyi Onuba, Abuja The Comptroller-General of Customs, Col. Hameed Ali (retd), on Wednesday inaugurated a high-powered investigative panel to fish out all those connected with the illegal importation of military wares. The committee headed by Assistant Comptroller-General, Sanusi Umar, is to conduct a thorough investigation into the recent importation of military camouflage outfits into the []
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Customs probe military wares importation
Thu, 30 Aug 2018
Ifeanyi Onuba, Abuja The Comptroller-General of Customs, Col. Hameed Ali (retd), on Wednesday inaugurated a high-powered investigative panel to fish out all those connected with the illegal importation of military wares. The committee headed by Assistant Comptroller-General, Sanusi Umar, is to conduct a thorough investigation into the recent importation of military camouflage outfits into the []
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