The Securities and Exchange Commission on Thursday said preliminary report of forensic auditors on BGL Group Plc revealed that the company eroded its shareholders’ funds to the tune of N48 billion. The commission in a statement posted on its website said the company’s management progressively eroded its shareholders’ funds through losses sustained over a five-year period totalling about N48 billion as of December 31, 2014. “From the preliminary report of the forensic auditors, it was revealed, among other facts, that indeed BGL Group was in a critical financial state,” said the statement. It also stated that the commission received over…
Author: Folorunso Smith
The Chairman of the Independent National Electoral Commission, Prof. Attahiru Jega, is expected to bow out of office next Tuesday. Similarly, six National Commissioners of INEC, who were appointed at the same time with Jega, are also to go with him. This was confirmed on Thursday in an INEC press statement in Abuja. The INEC Chairman, who though is eligible for reappointment, was recently quoted in the media to have said he would not be interested to serve for a second term. The National Commissioners, whose tenure of office will be expiring on the that same day with the INEC…
Buhari expressed surprise that the governors tolerated the excesses of the Jonathan regime
The PDP Governors, whose meeting on meeting Monday night was the second within a week, described as illegal and unjustified the relocation of the tribunals to Abuja other than the states where the elections were held
Mimiko was elected on Tuesday night at the inaugural meeting of the forum after the May 29 change of power
The companies are Pan Africa Solar Limited based in Kankia, Katsina State, which is to generate 24 MW from solar; and Nigeria Solar Capital Partners Limited, based in Ganjuwa, Bauchi State, to generate 100MW from solar
According to him: “I have observed with keen interest the scenario in the National Assembly that resulted in the election of Sen. Bukola Saraki and Rt. Hon. Yakubu Dogara and other leaders of NASS and what attracted my attention more, though not surprising, were the incoherent and contradictory responses from the leaders of the APC, especially the faction led by the former Governor of Lagos, Sen. Ahmed Bola Tinubu who outrightly rejected the outcome of the election and without decorum blamed President Muhammadu Buhari as being responsible for the debacle in the National Assembly
In a statement issued by the deceased’s eldest child, Alhaji Abdur-Rahman Balogun, the eighth day Fidau prayers will hold at 10, Ogundipe Street, Alapere, Lagos on June 13
Ahmed disclosed that the amount represents clear cases of underpayments, under-assessments of taxes, royalties, rents that were discovered by NEITI in its several independent audit reports, which have not been adequately addressed in the past
The PDP stated that the crass inexperience so far displayed by the APC is a pointer to the fact that it is not adequately equipped to handle the affairs of government at the centre
The National Chairman of the APC, Chief John Odigie-Oyegun, said this on Monday in Abuja
Justice Ibrahim Tanko Muhammad, who led a five-man panel of Justices of the apex court, had fixed June 5 for judgment after listening to counsel to parties in the suit who adopted their final brief of arguments
“They underlined the consequences of insecurity which include displacement of people and disruption of their trading activities, livelihood, and destruction of lives and properties in Nigeria and the entire Lake Chad region
Sani-Sidi stated further that when the crisis of the insurgency began, NEMA gave approval for the establishment of humanitarian cells within the Joint Military Task Force locations to be able to respond to humanitarian crisis that might arise
The charges were filed by the anti-graft agency early this year following the re-arraignment of Sylva for the offences for which he was initially arraigned in 2012
The PDP disclosed this in a statement signed by its National Publicity Secretary, Chief Olisa Metuh, in Abuja
Adesina will serve as Special Adviser (Media and Publicity), while Shehu will be the new Senior Special Assistant (Media and Publicity)
According to Metuh: “The PDP wishes General Buhari a successful tenure as President of our dear nation. Indeed, we appreciate the fact that his success would be to the benefit of Nigeria as a nation
He commended Governor Adams Oshiomhole of Edo State for standing by him during the crisis that rocked the Nigeria Governors Forum
The Union, Agbarago stated, views the abduction of Justice Obayomi as unfortunate, considering the fact that he (Obayomi) suffered a ghastly motor accident and was just resuming work when the ugly incident occurred