N35 billion arms

The Economic and Financial Crimes Commission is investigating a case of diversion of public funds totaling N35bn at the Ministry of Defence. The money was reportedly meant for the procurement of items and equipment for the military in peacekeeping missions. [PUNCH]

N14.4bn Trade facility
Coronation Merchant Bank said it partnered with International Finance Corporation to launch a N14.4bn Trade Finance Guarantee facility to boost financing for local businesses and enhance inter-continental trade. A statement said the IFC is a sister organization of the World Bank and a member of the World Bank Group. [PUNCH]

N91.3 bn Oil Palm
Governor Godwin Obaseki-led administration in Edo State is reviving the Urhonigbe oil palm belt with N91.3 billion provided by the Central Bank of Nigeria (CBN) and private investors, for the cultivation of oil palm on 51.8 hectares in Urhonigbe, Orhionmwon Local Government Area under the first phase of the Edo State Oil Palm Programme (ESOPP). [THE SUN]

Read more at: https://secretsreporter.com/efcc-probes-n35bn-arms-procurement-fraud-in-defence-ministry/