www.peoplesdailyng.com
Vol. 10 No. 88
Wednesday, May 1, 2013
. . . putting the people first
Judge wants stiffer penalty for corrupt leaders >> 3
Jimadal Akhir 21, 1434 AH
FG to outlaw indiscriminate sack of workers
N150
>> 6
NCAA slams fine on Amaechi’s aircraft By Umar Muhammad Puma
T
he Nigeria Civil Aviation Authority (NCAA) has confirmed that the
...It’s witch-hunt - Reps
grounded Bombardier – BD 700 Global Express aircraft marked N565RS, belonging to the Rivers
state government will be penalised for gross violation of civil aviation regulations.
But reviewing the controversy surrounding the grounded aircraft yesterday, the House of Representatives noted that the entire scenario “raises
serious issues as to the abuse of powers by the executive and the use of state machinery to witchhunt perceived political Contd on Page 2
FG squandered N1trn special fund - Senate
Reps probe N100bn unclaimed funds By Ikechukwu Okaforadi
A
report of the Senate Committee on Public Accounts yesterday revealed that Federal Government squandered a total of N1,043,150,990,411.61, out of the sum of N1,518,871,357,426.64, which accrued to the Special Funds Accounts (SFA) between 2002 and 2012. The fund divided into Stabilisation Account, Derivation and Ecology Account, and Development of Natural Resources Account, was established in 2002 as an interventionist fund for the development of the solid minerals sector, ecology and other critical areas of the economy. According to the report, successive governments of former President Olusegun Obasanjo, late President Umaru Musa Yar’Adua and President Goodluck Jonathan mismanaged the funds established in 2002. The committee presented its findings on the floor of the Senate yesterday, by its Chairman, Ahmed Lawan (ANPP-Yobe). He said that several approvals of funds from the SFA during the period did not conform to the purposes for which the funds were established. The Accounts, managed by the Federal Government, comprises three per cent Development of Natural Resources Account, 1.46 per cent Derivation and Contd on Page 2
L-R: Chairman, Dangote Group of Companies, Alhaji Aliko Dangote, Chairman, FORTE Oil, Chief Femi Otedola, and Minister of State for Finance, Dr. Yarima Ngama, during the National Economic Management Team meeting, at the State House, Abuja. Photo: Joe Oroye
First Bank hits N92 billion profit - Report
>> 3