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Abuja court voids arbitration proceedings against Aiteo E&P in Tempo Energy suit

The Federal Capital Territory (FCT) High Court in Abuja has nullified the arbitration proceedings at the International Chamber of Commerce (ICC), London, instituted against indigenous energy giant, Aiteo Eastern E&P Company Limited, by a group of lenders that partly financed its acquisition of OML 29, declaring its conduct a violation of the injunctive orders of…

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EFCC recovers nearly $500m in one year

The Economic and Financial Crimes Commission (EFCC), Nigeria’s economic crimes commission said it recovered nearly $500 million in proceeds of crime last year and secured more than 4,000 criminal convictions, its highest since the agency’s inception more than two decades ago. Africa’s biggest energy producer, Nigeria has struggled for decades with endemic corruption, which many…

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Ex-Reps Faparusi slams tax reform bills’ critics

A former National Assembly member, Bamidele Faparusi, has described those opposing the Tax Reform Bills currently before the parliament as “enemies” of the nation. Faparusi said the opposition to the tax reform bill by some National Assembly members has exposed those who want Nigeria to remain backward and under-developed. The ex-lawmaker representing Gbonyin/ Ekiti East/Emure…

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