Railway Debt Servicing Rises by 1,200%, Exceeds Revenue – Report Railway debt servicing cost exceeded revenue by 1,208.5 per cent in the first half of 2023, an analysis of debt service documents has shown. In the first half of 2023, the government spent $38.59m (N29.98bn at...

World Bank Projects Insecurity, Economic Hardship to Worsen in Six States  World Bank has predicted that persistent insecurity, armed conflict, and deteriorating livelihoods will continue to affect local government areas in Borno, Kaduna, Katsina, Sokoto, Yobe, Zamfara states, and the far north of Adamawa State...

Union Bank Probe: CBN Investigator Rejects Lemo, Others’ Plea The Special Investigator probing the activities of the Central Bank of Nigeria (CBN) and Other Related Entities, Mr. Jim Obazee, yesterday rejected an excuse by the Chairman of Titan Trust Bank Limited, Mr. Tunde Lemo, and...

Banks are Healthy, Safe - CBN Urges Nigerians to Ignore Takeover Rumours The Central Bank of Nigeria (CBN) has denied reports, in certain media outlets (not Economic Confidential), about a recommendation for the Federal Government to take over some CBN-supervised financial institutions. The apex bank in...

FG Says Fresh Dollar Supply will Strengthen Naira in 2024 The Budget Office of the Federation Director-General, Ben Akabueze, disclosed that an increase in dollar supply to the country in 2024 will strengthen the position of the naira. Akabueze revealed this in an interview with Channels...

FG to Issue Fresh Regulations for O-pay, Moniepoint, Others in 2024 The Federal Government through the Federal Competition and Consumer Protection Commission is set to release more regulation for the digital lending space in 2024. These regulations are meant to improve loan recovery methods in the...