– The pensions director general, Nellie Mayshak, has been suspended indefinitely – She is accused of an alleged multi-billion naira fraud – Mayshak was on a monthly salary of N60 million – The recent introduction of biometric registration by banks has exposed alleged shady deals in the pensions directorate The director general of the Pension Transitional Arrangement Directorate (PTAD), Nellie Mayshak, has been suspended for an alleged fraud running into billions of naira discovered at the office of the federal ministry of finance, The Cable reports. the details of the alleged fraud are still sketchy, but the recently introduced biometric registration by banks has exposed Mayshak . she has been placed on indefinite suspension as it was alleged that she was on a monthly salary of N60 million – thought to be the highest for any government official in the federation. PTAD was established in August 2013 under the Pension Reform Act (PRA) of 2004 to oversee the management of pensions under the defined benefit scheme for pensioners not transiting to the defined contributory scheme. More details to follow…

Read more: https://www.naij.com/765631-breaking-pension-dg-suspended-alleged-fraud.html

We all know this is true but can the media stop feeding us such news and start searching for news that will hold the present administration accountable.. Jona is thief we all know but our newspapers shouldn't turn themselves to gossip magazines!

It is appalling to come across such a book . HOW can a graduate claim he or she wrote such a book? The publisher must be jailed!

Ofodirinwa:

so who's fault is it that it took Buhari over 1 year to form a budget? A budget that he admitted on Aljeezera of not knowing what it contains?

This is someone who wanted to be president in every election since 1985. when given the role he doesn't know what he wants to do and you're faulting us because he doesn't have a budget up till today?

Are you saying Buhari hasn't even commissioned a budget?!

You should be awarded the comedian of the year... mr ibru n nkem owo's joke is nothing compared to your.

whose fault that it took buhari a year to form a budget? did you just say that?

arguing with u will make me look stupid as well.. so please take the center stage. na u WIN

carry go kachikwu! the wise and intelligent one's know the restructuring is for a better NNPC. With all news like this some people cant still see the change? kwontinu

Good judgment ! yet some people say the present Government isn't respecting the judiciary. if not for rule of law , people like metuh shouldn't even be tried at all. They ought to be arrested and face firing squad ! you ate yam with with palm oil, u never wash hand when caught and yet u dey do shakara ...nonsense

insanity is doing the same thing every time expecting a different result.. well done kachkwu and Pmb ! slow and steady wins the race

baralatie:

You will borrow one way or another

that is a vague statement... one way or the other . when the oil price was high did yarudua or gej borrowed? The answer is no.. The reason we are borrowing again now is because we squandered the excess money coming in then. If we can get $50 per barrell upwards we dont need to borrow a dime

baralatie:
T is not a winuation like as you think.an increase in oil price means increase in your price of fuel landing and associated costs(with 86.5 once again runs into another subsidy regime).

subsidy is a different topic entirely, the point im making here is that with the increase in oil price we might not even need to borrow for the deficit

if the oil price barrel gets to $50 we would be able to fund the budget, this revelation brings one question to my mind, when oil was above $100 and our budget was just 3trillion naira. where did all the revenue accrued spent? If with just $50 we can fund a budget of over 5 trillion naira! some people will still come online to type media trial while your heroes have spent the money of your unborn granchildren

WHAT OIL PRICE SURGE WILL MEAN FOR BUDGET 2016

According to the budget presentation made by President Muhammadu Buhari on December 22, 2015, Nigeria is expecting a revenue of N820 billion from crude oil, at a price of $38 per barrel.

With current realities, Nigeria is expected to be earning an extra $2 on every barrel of crude sold.

At the budget benchmark of 2.2 million barrels per day, Nigeria should earn a surplus of $5.6 million (N1.1 billion) per day.

This would translate to N404.97 billion for the 2016 fiscal year.

At a $50 per barrel scenario, Nigeria would make an extra $12 per barrel, translating to N1.9 trillion in oil revenue surplus.

With a budget deficit, N2.2 trillion, a $40 or $50 per barrel scenario, would reduce a sizeable amount of Nigeria’s budgetary deficit for 2016.

According to the International Monetary Fund (IMF), Nigeria’s debt-to-GDP ratio as of 2015 stood at 12 percent, compared with 57 percent for Angola and 48 percent for South Africa.

With borrowing in excess of N2 trillion in 2016, Nigeria would have a larger debt burden, but increase in crude oil prices will reduce the debt-to-GDP ratio of Africa’s largest economy.

It is worthy of note that the rise in crude oil prices may not automatically be funnelled into budget 2016, as the surpluses could be directed to Nigeria’s excess crude account (ECA), maintaining deficit at its current levels.



https://www.thecable.ng/.Vt7jaL0paOw.facebook

chilanfarms:
# hetroclarias (Hybrid fingerlin) is #20. Contact me on 08076515345...

for we learners , does this specie grow faster or what?

how much is melange per kilo in your area? please state your price and location

Ttalk:

You are highly welcome sir
My e-mail: goldgate2003@yahoo.com

Thank u for the quick response. message sent.

Ttalk:


Alright sir

Hello, good afternoon. i can see ur in abuja, i will like to get some info from you for my fish farm. can i have your email or a no we can chat with?

regards

anonimi:


With your common sense you cannot answer a simple question. Of what use then is your common sense

stop displaying your ignorance, let the money on your education show for once... since its hard for you to comprehend let me break it down to your level. if emeka sold toyota bumper in 2015 at 70 naira and then sold the same number if bumpers at 30 naira tge following year. can he generate the same revenue?

anonimi:


First, should you not find out how much was paid into the same Federation Account by NNPC in January 2015?

oga u people should be applying common sense nah. nnpc is producing about the same quantity of oil but in January 2015 it was like $70 per barrell, January 2016 $32 per barrell, do you need a 2year old boy to explain this simple maths for u?

Macfloyd:


Please mention the roads built by Amaechi that Wike is reconstructing in rivers state? Wike dat is completing projects dat Amaechi did up to 80-90% and he'll commission it as a new project!!

Also, pls remind me the 1st class roads built by Fashola in Lagos dat Ambode is now reconstructing?
U are just deprived of knowledge about basic things. It's not a must for u to comment if u have nothing to say. Fashola's projects were mostly for the elites and in high-brow areas in Lagos. Ambode instead is concentrating more of his developments in d subs and interior parts of lagos. That's d beauty about continuity of progressive govts.

As for d topic, I have nothing to say becos dier ineffectual buffon has repaired and completed all d Federal roads in d east so I would advise Buhari to disregard dier requests.

arguing with an ipob is like explaining the laws of gravity to a 9months old baby! they just cant phantom the thoughts...

a year one law student, wait sef any human being with comkon sense will know dansuki has no case. The lawyers fighting for him are just being half smart and also making loads of money representing him. If not for the money we are trying to recover, dansuki should be in hague now facing war crime ! just kuje here that im sure his getting preferential treatments he's shouting for bail

when osibanjo said corruption is a virus in the system and it will take total overhauling of our mind set as a nation, he was right.

Drabeey:
Issokay..

I can feel the phlegmatic soothing breeze of jigsaw blowing far and wide. This news catapult a singalla syndrome , making ways for fallowing bargardy in my jinktum. I am pleased that the fingers that drew the soup of belagoree is now accounting for it chartardlly.


Anyways...



DrabeeyWasHere

Are you a seed of obiahghon? loool

.As long as God is on the throne, buhari will live long to fulfill all his heart desire for Nigeria.. I was meant to take my niece to the cinema but was tired cos of a night out, her mum called me that my neice wants to speak with me , below is our conversation

niece..hi uncle

me ..hello hun how was ur night?

niece.. fine uncle, when r u coming to pick me up

me...aahhh im really tired today oh, i had a long night out but dont worry i will bribe u with ur favourite ice cream when we see in church tomorrow

niece... ahh bribe keh? uncle this is the era of change! dont bribe me ooh.. i will be ready for 2pm come and pick me up

as funny as it was , that message struck me. some clowns are already joking with #bringback our corruption# can you imagine?

What legacy will you leave for generations to come?

.

long overdue! Nigeria will be great again

.He gave a breakdown and some people in their room is debunking the story without any fact. The feeding programme has a value chain of farmers, transporters, cooks, supervisors, the catering company etc...

erico2k2:

guy for one year? we go wait until one year b4 budget? so are they gonna remove spent monies from the budget when it is finally passed? the money they are spending now who is going to account for it, from what budget? see massive fraud going on right in front of our eyes.stay there, no wail

very matured response and i give you kudos for that , however let me break it down on how it works. The money been spent at the moment is the supplementary budget of almost 600billion that was passed last year around September. in a lame mans explanation, if you want to build house and the builder gives you quotation, can he starts building without the owner giving him funds? The answer is NO.. so what Nigerians should do is to direct the wailing to the national assembly to hurry up and pass the budget then hold buhari accountable if he still uses we will when the budget is passed. For now na siddon look we dey until the budget is passed . cheers

A brand new car will last a minimum of 10 good years before a major problem occurs if properly maintained. Telling us vehicles of 3years plus is beyond repair is another cock and bull story from the senate president. we aren't dummies and most of us drive. An average nigerian buys a 10yr old tokunbo and still rocks the car for another 5 to 7years before wear and tear on the car. We are talking about mecerdes benz that has a fantastic reputation for durability when maintained properly. march 10 is on my mind

dukie25:


Borehole is equal to primary health care?
Anyway this propaganda is strictly
for Sai-babarians.

only if school passed through you then you will know clean water is a major aspect to primary health care, alot of diseases affect rural areas due to villagers not being able to drink clean water. if the borehole is available it automatically prevents some illnesses ..

Also for the people lamenting be patient, without budget the government can only tell us their plans but cant roll it out! when the budget is passed then you can judge, wailing now is just a sign of ignorance

Nothing will happen if remitta decides to cancel the deal . The part of corruption we are against is what is happening right now , the fg doesn't need the services of remitta but due to the fraud of last administration we have been put in a lot of mess. There is a department under the oagf that can do exactly and much more than what remitta is doing but due to fraud they chose to give a private company. read about gifmis then ypu will understand better

Melkizedek:

Only a political zombie and a member of aisha rice eaters association (AREA ) will vomit such rubbish...so the angels are fallible, but a mere mortal man like buhari is infallible? just when you think you've seen the apex of sycophants in this geographical expression, someone comes along and surprises you the more!

like they say , the cup can be half full or half empty, PERSPECTIVE ... you spoke according to the limit of your brain so i forgive you