ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL. (PHOTO). #PRESS RELEASE.

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 APC PRESIDENTIAL CAMPAIGN COUNCIL PRESS STATEMENT ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL At his press conference in Abuja on Friday, Alhaji Atiku Abubakar reiterated his proposed  “production subsidy” for locally refined petrol, which he said would reduce pump prices. He went further to ask President Bola Tinubu to slash the cost of diesel and petrol at the pump. That proposal raises important legal, fiscal and practical questions that he must answer. Section 205(1) of the Petroleum Industry Act 2021 provides that unrestricted free-market conditions shall determine wholesale and retail prices of petroleum products. The Nigerian Midstream and Downstream Petroleum Regulatory Authority, in a statement on Saturday, explained that it neither fixes pump prices nor issues administrative price templates, except where the statutory conditions for intervention are met. The PIA provisions guide its function.  At the moment, “No such market fail...
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EFCC ARRAIGNS WOMAN FOR N2.1M FRAUD.{PHOTO}.

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       The Economic and Financial Crimes Commission, EFCC, Kano Zonal Office on Monday May 20, 2019 arraigned one Hauwa Mohammed Sabo before Honourable Justice Obiora Atuegwu Egwuatu of the Federal High Court, sitting in Kano on a two-count charge of obtaining money under false pretence.
The defendant allegedly obtained the sum of N2,150,000 (Two Million, One Hundred and Fifty Thousand Naira) only from the plaintiff, Badura Kabir Idris on the guise that he would invest the amount in his gold mining business.
One of the charges read that: “You, Hauwa Mohammed Sabo (Alias Hajiya Nina), sometime in the month of November, 2017 in Kano, within the jurisdiction of this honourable court, with intent to defraud, obtained the sum of N2,000,000 (Two Million Naira), only from Badura Kabir Idris, under the false pretence that the money was for investment into your hold mining business which pretence you knew to be false and thereby committed an offence contrary to Section 1(2) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and punishable under Section 1(3) of the same Act."
The defendant pleaded not guilty to the charge.
In view of her guilty plea, prosecution counsel, Sadiq Hussain asked the court for a trial date and for the defendant to be remanded in prison custody.
Defence counsel, Ladi Oseni informed the court that she was yet to file a formal bail application and requested for an adjournment.
Justice Egwuatu remanded the defendant in EFCC custody and adjourned the matter to May 23 and 28, 2019 for the hearing of the bail application and commencement of trial, respectively.
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