Nigeria Loses $400 Billion to Oil Thieves - Ezekwesili

Abuja — Vice President of the World Bank for Africa, Dr Oby Ezekwesili,Tuesday, said Nigeria has lost more than $400 billion to oil thieves since she attained independence in 1960.

Nigeria’s Naira Depreciates Most in Week on Fewer Dollar Sales

Nigeria’s naira weakened and set for the biggest drop in week as oil companies and the central bank were said to sell fewer dollars than expected.

The currency of Africa’s biggest oil producer depreciated 0.1 percent to 158.15 a dollar as of 2:42 p.m. in Lagos, heading for the biggest decline since Aug. 23, according to data compiled by Bloomberg.

Police arrest two men with human skull in Abeokuta

Two middle aged men have been arrested by the Ogun state Police Command in possession of a human skull.

The two suspects were said to have been arrested at Sabo area of Abeokuta, the state capital, by the officers of the command who were acting on a tip-off.

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Jonathan takes over power ministry

President Goodluck Jonathan

Following the resignation of the Minister of power, Professor Barth Nnaji, President Goodluck Jonathan has taken over the supervision of ministry of power until substantive power minister is appointed.

Nigeria's minister of power resigns

Abuja: Nigeria's Power Minister Professor Barth Nnaji has resigned from his post amid accusations that the minister had direct interest in a consortium that was involved in bidding for some power projects in the country.

Oyo, Osun appoint Tinubu LAUTECH’s chancellor

OYO and Osun states government have appointed former Lagos State governor and leader of the Action Congress of Nigeria (ACN), Bola Ahmed Tinubu, as chancellor of the Ladoke Akintola University of Technology (LAUTECH), Ogbomosho.

Nigeria to start $1B sovereign wealth fund

ABUJA, Nigeria (AP) -- Officials say Nigeria will launch a $1 billion sovereign wealth fund in the coming months to invest some of the nation's oil revenue.

Jonathan has admitted failure, says ACN

The Action Congress of Nigeria has described the lamentations of President Goodluck Jonathan at the opening of the 52nd Annual General Meeting of the Nigerian Bar Association as the most criticised president in the world, as an admission of failure, incompetence and unpreparedness to govern.