LAGOS HOTEL, 3 OTHER PROPERTIES FORFEITED BY DRUG KINGPINS AUCTIONED AT N6.1BILLION.(PHOTOS). #PRESS RELEASE.

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 Lagos hotel, 3 other properties forfeited by drug kingpins auctioned at N6.1billion *- It’s a clear message that cartels won’t be allowed to enjoy proceeds of their criminal trade, says Marwa*  A Lagos hotel and three other properties seized from drug kingpins by the National Drug Law Enforcement Agency (NDLEA) and forfeited to the Federal Government through court processes have been auctioned for the sum of Six Billion One Hundred and Forty- Eight Million Nine Hundred and Sixty-Four Thousand Naira (N6,148,964,000.00) only. This was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country. While bidders who offered above reserved prices emerged winners of four of the listed properties, bids for four others failed because none offered up to the reserved prices. Announcing the winning bids at the bid opening ceremony attended by representatives of ICPC, Civil Society Organisations, auctioneers and bidders at the NDLE...
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REPS RAISE ALARM OVER TREASURY SINGLE ACCOUNT .(PHOTO).

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REPS RAISE ALARM OVER TREASURY SINGLE ACCOUNT 


House of Representatives has expressed concern over the Remita platform, which manages the Federal Government’s Treasury Single Account (TSA).

The lower chamber declared trillions of naira had been transferred through the Remita platform and that the monies were unaccounted for due to the Central Bank of Nigeria’s (CBN) proliferation of sub-accounts through a motion by Jeremiah Umaru (APC; Akwanga/Nasarawa Egon/Wamba).

The House of Reps is concerned that unless this issue is solved, the government will continue to lose money.

The money are unaccounted for as a result of the CBN’s growth of sub-accounts, according to the Household. 

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