The Chairman of the Independent Corrupt Practices and Other Related Offences Commission(ICPC), Mr. Ekpo Nta, yesterday confirmed the recovery of N8, 705, 750, 426.15 from Infrastructure Bank and other five sources in 2016. He said of the funds about N6billion was frozen in the bank alone. He also said the commission received 1,569

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New managers were yesterday appointed for Arik Air to save the airline from a debilitating financial turbulence. The Asset Management Company of Nigeria (AMCON) took over the management of Nigeria’s biggest airline. But the airline rejected the takeover and vowed to challenge it in court. AMCON, according to a statement, appointed Captain Roy

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The Federal Executive Council (FEC) yesterday set up a committee, which will suggest ways of reducing food prices. The committee is expected to submit a report to the Council next Wednesday. Minister of Information Lai Mohammed broke the news to State House correspondents at the end of the FEC meeting chaired by Acting President Yemi

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The Federal Government yesterday said it had secured $1.5 billion from the China Exim Bank to begin work on the Lagos-Ibadan rail line project. Minister of Transport Rotimi Amaechi said this when he appeared before the Senate Committee on Land Transport, chaired by Gbenga Ashafa, to give a status report of the 2016 budget and also present

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HE Federal Government plans to spend $6.1 billion on the construction of Ibadan-Ilorin-Minna-Kano standard gauge lines of the Nigerian Railway Corporation. The Lagos-Ibadan line which will cost $1.5 billion, will be funded with a Chinese loan. Transportation Minister Chuibuke Amaechi said this in Ilorin at a town hall meeting for Northcentral

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The House of Representatives will ensure that oil bloc licences issued without due process are revoked, it emerged yesterday. This is in addition to the forfeiture of oil and gas licences by companies that have variously defaulted in the payment of requisite fees to the government. This followed the discovery of some oil and gas companies operating in

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