Read today's newspaper headlines [Wednesday, December 14, 2016]

THE GUARDIAN NEWSPAPER

Nigeria loses N305b to fraud in gas flare data

Nigeria loses an estimated $1billion (about N305 billion) in revenue every year due to the falsification of gas flare data, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has revealed.

How Nigeria’s N53 trillion budget of 18 years failed

The controversy over performance of the 2016 budget is just the latest in a series of government’s failed efforts at infrastructure building in the last 18 years despite ambitious budgets totaling N53 trillion within the period.

Panic, humour as MMM ‘crashes’

Fast-growing money scheme, Mavrodi Mundial Moneybox (MMM), yesterday jolted millions of Nigerians and spelt a bleak Yuletide for participants when it placed a one-month ban on all withdrawals starting from December 13, sparking fears that the popular Ponzi scheme, which has since been declared illegal by the Federal Government, has crashed.

VANGUARD NEWSPAPER

Gas flaring: FG accuses oil firms of fraud

THE Federal Government, yesterday, accused International Oil Companies, IOCs, operating in Nigeria of falsifying gas flare data to cut down on payment of penalties, as a result of which the country is losing between $500 million and $1 billion in revenues that would have accrued from the penalties.

FG to fund 2017 budget with recovered loot, renewed oil licences

THE Federal Government, yesterday, said it will fund the 2017 budget with recovered loot and renewed oil licences, even as it targets N10 trillion revenue generation in the coming year.

Judicial corruption: Justice Ademola, wife docked, secure N100m bail

The Federal Government, on Tuesday, docked Justice Ademola Adeniyi and his wife, Olabowale, before an Abuja High Court at Maitama on an 11-count criminal charge.

THE NATION NEWSPAPER

Patience Jonathan faces fresh hurdles over $15.5m

Detectives have stepped up the probe of former First Lady Mrs. Patience Jonathan by retrieving her service records from the Government of Bayelsa State.

Jammeh receptive to quit advice, says Buhari

Gambian leader Yahaya Jammeh is receptive to the advice by West African leaders that he should respect the election result and hand over power, President Muhammadu Buhari said yesterday.

Panic as MMM stops payment

Many Nigerians were shocked yesterday to learn that the popular money making scheme, Mavrodi Mundial Moneybox (MMM), had placed a one- month freeze on withdrawals.

THE PUNCH NEWSPAPER

Buhari presents 2017 budget to N’Assembly today

President Muhammadu Buhari will today (Wednesday) present the 2017 Appropriation Bill to a joint session of the National Assembly.

Court grants Justice Ademola, wife N100m bail

A High Court of the Federal Capital Territory, Maitama, Abuja, on Tuesday granted bail in self-recognisance to a judge of the Federal High Court in Abuja, Justice Adeniyi Ademola and his wife, Olabowale, who is the Head of Service of Lagos State.

N1tn Abuja land scam: EFCC seizes 12 properties from ex-minister, Mohammed, son

The Economic and Financial Crimes Commission has seized at least 12 properties from a former Minister of the Federal Capital Territory, Senator Bala Mohammed, and his son, Shamsudeen Bala, The PUNCH can confirm.