SIMPLE NEWS NAIJA : 05/10/16

EFCC Arrest Former Akwaibom Military Administration For Taking N450 Million From Diezani

A former military administrator of Akwa Ibom State and chieftain of the Peoples Democratic Party (PDP), Air Commodore Idongesit Nkanga, has been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) for collecting a sum of N450m from the $115m deposited by former Minister of Petroleum Resources, Diezani Allison-Madueke with Fidelity Bank, Plc.

PHOTO Diezani Alison-

He was arrested in Port Harcourt, Rivers State on Monday. Mr. Nkanga was alleged to have collected the money in two tranches from a staff of Fidelity Bank in Uyo, Akwa Ibom State, Mr. Saint- Anthony Ejiowu.

The first tranche of the money, a sum of N350m was collected on March 27, 2015, while the second tranche of N100m was received on March 31, 2015. Mr. Nkanga signed for the two tranches.

He is in the custody of the EFCC and will be charged before court soon.

Government set to quietly increase pump price of petrol to over 100 per litre

According to Premium Times, there are indications that the federal government is set to increase the price of petrol following the deregulation of the downstream sector of the Nigerian petroleum industry.

This is according to officials who hinted that the policy could push the price of petrol to 110 per litre at NNPC stations and higher at independent outlets.

Steps have been taking to forestall the backlash which greeted the 2012 increase by the Goodluck Jonathan administration, to this end, no formal announcement will be made and government appears to have successfully wooed organised labour and its affiliate unions to its side.

With full deregulation of the downstream sector, government withdraws subsidy while paving way for private marketers to enter the industry, under this scenario, the pump price of fuel is determined by market forces and governments acts only as a regulator.

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Pres. Buhari to host French president, others to security summit on Saturday May 14th

President Buhari will host the second Regional Security Summit in Abuja on Saturday, May 14th. Participants in the summit will include President Francois Hollande of France, who hosted the first Regional Security Summit in Paris in May 2014. Other attendee at the Abuja Regional Security Summit will be the Presidents of Cameroon, Niger Republic, Chad and Benin Republic.

The US, UK, EU, ECOWAS, Equatorial Guinea, Econ Comm of Central African States & Gulf of Guinea Comm will also be represented at the summit. At the top of the Agenda at the Abuja Security Summit will be the successful conclusion of ongoing military operations against Boko Haram.

President Hollande will arrive Abuja on an official Visit to Nigeria on Friday. He'll be received by PMB at the Pres Villa on Sat morning