Tag - billions

Mompha’s Alleged Fraud Trial Resumes January 15 2020

A Federal High Court in Lagos on Wednesday fixed January 15, 2020 to resume the alleged N33bn money laundering trial of a suspected internet fraudster Ismaila Mustapha, alias Mompha. The new date was fixed at the instance of the defendant’s counsel, Mr Ademola Adefolaju who stood in for Mr. Gboyega Oyewole (SAN). Mompha was arraigned by...

After gulping over half a trillion in ten years, moribund NIGCOMSAT set to swallow 3.4bn in 2020

With $1billion spent on ground infrastructure in Nigeria and China, 144 billion naira spent on Satellite, and 22 billion naira spent on recurring expenditure such as hotel, accommodation, salaries, training amongst others, the Nigeria Satellite Company (NIGCOMSAT), has gulped over half a trillion between 2011 and 2016 alone without making any revenue.  In the 2020...