Nigeria's Total Debt May Hit N170trn as FG Plans to Borrow Fresh N31trn   The Federal Government plans to allocate a significant portion of its budget to debt servicing over the next three years, surpassing allocations for capital expenditures. This is according...

Customer Deposits in Eight Banks Now N85trn   Customer deposits in eight Deposit Money Banks reached N85.58tn in the third quarter of 2024, a 12.2 per cent increase from the N76.26tn recorded in the same period in 2023. This was disclosed in...

Why We Didn't Meet Port Harcourt Refinery Completion Deadline - NNPC   Barely two months after the September completion deadline flop, the Nigerian National Petroleum Commission has explained why it could not deliver the much-awaited Port Harcourt Refinery Company. In an interview...

Nigeria Remains Third-Largest Debtor to IDA With $17bn   Nigeria has retained its position as the third-largest debtor to the World Bank’s International Development Association (IDA) with its exposure climbing to $17.1bn as of September 30, 2024. According to the World Bank’s...

CBN Warns Against Fraudulent Contract, Project Funding Claims   The Central Bank of Nigeria (CBN), has warned members of the public to be weary of activities of fraudsters purporting to be in receipt of award letters of contracts related to construction...

PoS Operators Blame Double Transaction Charges on Cash Scarcity   Point of Sale (PoS) operators in Nigeria have raised transaction fees by over 50 per cent, attributing the increase to severe cash scarcity caused by banks rationing withdrawals. With yuletide and end-of-year...