arrears

Varsity Workers Demand Payment Of ₦8.32bn Arrears

December 21, 2019 2:13 pm

The Senior Staff Association of Universities, Teaching Hospitals, Research Institutes and Associated Institutions has demanded from the Federal Government the payment of 12 months arrears of 53.37 per cent salary increase estimated at ₦8.32bn.

SSAUTHRIAI made the demand in a communiqué signed by its sectoral chairman, Felix Uwadiae, and Secretary, Ademola Olajire, issued after its council meeting held at the Nigerian Institute of Trypanosomiasis Research in Kaduna in Abuja.

The agreement for the payment of 12 months arrears of 53.37 per cent salary increase estimated at N8.32bn, according to SSAUTHRIAI, was reached with its Joint Research and Allied …

Malami Tells IOCs To Pay $62.1bn PSC Arrears

November 27, 2019 5:43 am

The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami SAN, has asked international oil companies (IOCs) to settle their unpaid arrears of approximately $62.1 billion to Nigeria.

The minister, in a statement issued yesterday in Abuja by his media aide, Dr. Umar Gwandu, said with the signing of the Deep Offshore and Inland Basin Production Sharing Contracts Act CAP D3 Law of the Federation of Nigeria 2004 (as amended) in 2019 for oil exploration in deep offshore and inland basin, the federal government was to get more shares of the oil revenue, which the international companies did …

NNPC reports $226m oil revenue drop in June

NNPC pays $833.57m cash-call arrears to Mobil

July 4, 2019 12:00 am

The Nigerian National Petroleum Corporation (NNPC) says it has fully settled the total amount owed to Mobil Producing Nigeria (MPN) with a payment of 833.57 million dollars cash call arreas.

The corporation disclosed this in a statement signed by its spokesman Mr NDU Ughamadu, in Abuja on Wednesday.

He said that the corporation was able to achieve this barely two years after it signed a Cash-call Repayment Agreement with its Joint Venture partners to defray cash-call arrears within a period of five years.

According to him, the Group Managing Director of NNPC, Dr Maikanti Baru disclosed this at a commemorative …