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July 17, 2018

NNPC must prove how it spent $10.8bn – Okonjo-Iweala

Culled from THE PUNCH The Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said the Nigerian National Petroleum Corporation needs to provide evidence that the unremitted $10.8bn has been judiciously spent. She said the NNPC claimed to have used the unremitted funds for key operational costs. The minister said this in Lagos on Sunday, while responding to questions about the unremitted funds to the Federation Account by the NNPC and other economic issues. She spoke at a dinner organised in her honour by South-East and South-South Professionals. “If the money was spent on operational costs, let us see evidence that it…

Pope expands role, reach of Vatican Financial Intelligence Authority

As part of the Vatican’s ongoing efforts to ensure that all its financial activities comply with international standards, particularly those aimed at preventing money laundering and the financing of terrorism, Pope Francis has expanded the role and the reach of the Vatican’s Financial Intelligence Authority. Less than a month after he updated the Vatican’s criminal code to include all Vatican employees around the world and not just those working in Vatican City, Pope Francis issued new rules Aug. 8 broadening Vatican City finance laws to cover all the offices of the Roman Curia. The rules also apply to the non-profit…

Bishop Ezeonyia warns against disobedience to Church authority

-As Aba diocese ends Pastoral Meeting The Catholic Bishop of Aba, Most Rev. V.V. Ezeonyia has bared his mind in the latest happenings in the world, relating them to what is happening in the Church today. In his opening remarks at the Second Plenary Session of the Pastoral Council meeting of the Catholic Diocese of Aba, June 9 at Nneoma Hall, CKC Aba, Ezeonyia said that humanity is now tampering with nature. “I am sorely afflicted by what is happening in the world today.  There is something rotten in this world of ours now.   The core values are being turned…

Newly elected Eze Irete recommends Option A4 -To Ezeship-torn communities

Communities which for years have known no socio-economic progress, as a result of being enmeshed in intractable internal strife over their royal stool, can now heave a sigh of relief as an incontrovertible way out, has been found.  The solution lies in Option A4 system of voting, which has been described as most transparent, as it simply involves counting those queuing behind each candidate in an open field. This recommendation came from His Royal Highness, Eze Ethelbert Ekwelibe, the Agubiam I of Irete, who personally emerged through the Option A4 method on Wednesday, June 20, 2013, when he pulled 1110…

Okorocha’s Administration and the Zenith Bank Loan Scandal

Not too long ago, the Association of Local Government of Nigeria (ALGON) wrote a petition to the Economic and Financial Crime Commission (EFCC) accusing Governor Rochas Okorocha of Imo State and his team of taking an unauthorized loan that runs into many billions of naira from Zenith Bank using the monthly allocations for the 27 local government councils in the state as collateral for the loan. Consequently, the Imo State Commissioner for Finance, Deacon Chike Okafor and the Accountant General of the state, Mr. George Eche were arrested and detained by the EFCC in relation of the accusation. These government…

Church Finance Officers hold workshop in Owerri …Chancellor calls for honesty, accountability

A one-day training workshop organized by the Owerri Catholic Archdiocesan Finance Council for Finance Officers in parishes, service centres, Catholic hospitals, schools and industries, have ended in Owerri, the Imo State capital. The activity-packed workshop, which took place at the Pastoral Centre, Wetheral Road Owerri, featured the presentation of four papers by finance experts, interventions by prominent personalities, interactive session and fielding of questions by participants. The Chairman of the Archdiocesan Finance Council, Sir Hartly Egbulefu, delivered a paper on “Keeping to Budget”, while, Mr. Ray Ahumibe, Zonal Area Manager, United Bank for Africa, UBA, lectured on “Increasing Revenue in…