FG TO PRIORITIZE RESOURCE ALLOCATION IN THE FACE OF LOW OIL PRICES. (PHOTO). #PRESS RELEASE

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 PRESS RELEASE  FG TO PRIORITIZE  RESOURCE ALLOCATION IN THE FACE OF LOW OIL PRICES The Federal Government of Nigeria will pursue diversification of its revenues and adopt greater prudent resource allocation measures to mitigate the impact of low oil prices should it continue, according to Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. Speaking at a meeting with investors during the ongoing IMF/World Bank Spring Meetings in Washington DC yesterday, Mr Wale Edun emphasized that with the recent reforms embarked upon by the present administration, Nigeria is better positioned to deal with global economic uncertainties. The meeting was also attended by the Chairman, Senate Committee on Finance, Senator Mohammed Sani Musa; the Deputy Chairman of the House of Representatives Committee for Finance, Hon. Saidu Musa Abdullahi; the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso; the Permanent Secretary of the Federal Ministry of Finan...
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SUPREME COURT VOIDS EX-GOV KALU’S CONVICTION, 12-YEAR JAIL TERM TODAY.{PHOTO}.

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THE SUN IS JUST RISING FOR ORJI KALU AT 59 — ABN TV
     The Supreme Court, on Friday, quashed the judgement that convicted and sentenced the former governor of Abia State, Orji Uzor-Kalu, to 12 years imprisonment.
The apex court, in a unanimous decision by a seven-man panel of Justices led by Justice Amina Augie, held that the Federal High Court in Lagos acted without jurisdiction when it convicted Kalu, his firm, Slok Nigeria Limited and former Director of Finance in Abia State, Jones Udeogu.It held that trial Justice Mohammed Liman was no longer a judge of the Federal High Court as at the time he sat and delivered the judgement that convicted the defendants for allegedly stealing about N7.1billion from Abia state treasury.
According to the Supreme Court, Justice Liman, having been elevated to the Court of Appeal before then, lacked the powers to return to sit as a High Court Judge.It held that the Fiat that was issued to him by the Court of Appeal President pursuant to section 396(7) of the Administration of Criminal Justice Act was unconstitutional.
Consequently, the apex court vacated the judgement that convicted the defendants and ordered fresh trial of the defendants.
THE SUN IS JUST RISING FOR ORJI KALU AT 59 — ABN TV

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