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[/b]Between 2012 and 2018, five billion dollars in gold was illegally smuggled out of Nigeria.[b] President Muhammadu Buhari has directed the Presidential Artisanal Gold Mining Development Initiative (PAGMI) to provide a six-month progress report on the Solid Minerals Development Fund, designed to capture accruals from investments. He gave the directive, on Wednesday, at a briefing…
By Tordue Salem The Fiscal Responsibility Commission (FRC), yesterday, disclosed that 32 Ministerial Departments and Agencies (MDAs), including the Nigeria Drug Law Enforcement Agency (NDLEA), Standard Organisation of Nigeria (SON), Bank of Industry (BoI) and Bank of Agriculture (BoA) are owing the federal government over N1.2 trillion in revenues they generated but failed to remit to the federation account as required by law since 2016. The agency’s Executive Chairman, Barr. Victor Muruako, made the disclosure during a press briefing at the National Assembly (NASS). He stated: “Sadly, ma...
He said the commission had already designed a template and would liaise with all relevant agencies to deduct from the source, from defaulting agencies which would be enabled by the Treasury Single Account. He listed the defaulting agencies as the Administrative Staff of College of Nigeria, the Bank of Agriculture, the Bank of Industry, the Cement Technology Institute of Nigeria, the Centre for Black African Arts and Civilization, the Chad Basin National Park, the Federal Radio Corporation of Nigeria, the Gashaka Gumti National Park, the Gurara Water Management Authority, the Hadejia-Jama’ar...
In this interview, the Massachusetts Institute of Technology-trained executive and highly regarded geologist discusses the activities of his Board, stating that ‘the ability of the Board to work with relevant stakeholders to give the SMDF a world-class structure is a key goal that will pave thebway for greater realization of government’s set goals for the SMDF and the entire mining sector.’ Mr Malami, who is certified by the Council of Nigerian Mining Engineers and Geoscientists, says the SMDF is working with the Presidential Fertilizer Initiative (PFI) to sustainably exploit the abunda...