Business

Breaking: Presidency Vows To Recover $7B CBN Bailout To Banks

The Presidency on Wednesday vowed to take all necessary measures to recover the $7 billion which the Central Bank of dashed commercial banks in 2006 as bailout cash.

Buhari and Emefiele The chairman of the Presidential Committee on the Recovery of Public Property, Mr. Okoi Obla-Obono, made the resolve of the government public at a public event organized by some civil society groups on the controversial Oil Prospecting Lease 245 in Abuja.

Obla-Obono also said the federal government was also investigating an unnamed top politician for running 20 companies in a European tax haven so as to evade tax payment to Nigeria. 2019: Donald Duke promises free tuition at all levels of education if elected president.

The presidential aide also disclosed that a leading oil firm that has withheld $1.9 billion oil revenue payment to Nigeria was being investigated and would be sanctioned for economic sabotage.

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