Senate To AGoF: Sanction Officers Involved In $274.2m External Loan Losses       The Senate has asked the Accountant General of the Federation, Ahmed Idris, to identify and sanction his officers who were allegedly responsible for the $274.2m (N54.1bn) which Nigeria lost on external loans transaction. The red...

Power Firms Still Unable To Deliver Despite N1.5trn Funding       The power firms, mostly private entities, may have gotten about N1.5 trillion funds from the Central Bank of Nigeria (CBN) in the past seven years, helping the sector stay afloat. However, experts and power consumers are worried...

In Five Years, Nigeria Lost $10.8bn In Telecom Sector     Nigeria lost $10.8bn in the last five years to capital flight in the telecommunications sector amid lingering foreign exchange scarcity in the country. In its ‘National Policy for the Promotion of Indigenous Content in the Nigerian Telecommunications...

Two Million Farmers To Recieve N12.3bn Subsidy From FG       Over 2.2 million farmers are to receive about N12.3bn as agricultural subsidy from the Federal Government in coming weeks, it was gathered on Sunday. Presidency officials confirmed that President Muhammadu Buhari had already approved a N6.15bn agricultural...

Banks’ Total Assets Rise By N6.97trn In A Year       The total assets in the banking sector rose by N6.97tn between April 2020 and April 2021, according to the Central Bank of Nigeria. Despite the effect of the COVID-19 pandemic, the assets rose from N46.2tn to N53.17tn...

FEC Awards N309.9bn Road Contracts To Dangote       The Federal Executive Council on Wednesday approved the award of a contract to Dangote Industries for the construction of five roads totaling 274.9 km at the cost of N309.9bn to be advanced to the company as tax credit. Minister...