Microfinance Banks’ Total Assets Rise To N1.01trn     The total assets of the microfinance banks rose by N251.02bn from N758.98bn as of the end of July 2020 to N1.01tn as of the end of December 2020 as the firms moved to achieve their recapitalisation requirements. This was...

Senate Passes N329.96bn As Statutory Budget For FCT       The Senate on Tuesday approved N329.96bn as statutory budget for the Federal Capital Territory for the year 2021. The passage followed the consideration of the report of the Committee on Federal Capital Territory on the FCT Appropriation Bill,...

Shipment: FG Loses N5bn Revenue To Importers Through Wrong Declaration     The federal government has been advised to return the Standard Organization of Nigeria, (SON) to the ports in a bid to ascertain the difference between raw materials and finished goods imported into the country under...

Reps Fault Banks, Begins Probe Of $30bn Revenue       The House of Representatives’ Joint Committee on Finance, Banking and Currency has begun an investigation of the leakages amounting to $30bn annually in the transfer of funds to execute international contracts, interbank transfers, among others. At its inaugural...

Senate Berates NSITF Management Over Alleged N84bn Embezzlement       The Senate on Monday berated the management of the Nigeria Social Insurance Trust Fund over an alleged misappropriation of N84bn within four years. The Senate Public Accounts Committee stated this while scrutinising the 2017 report of the Auditor...

Mass Metering First Phase'll Gulp N60bn - Fed Govt     The Central Bank of Nigeria is providing N60bn for one million electricity meters that are meant for free distribution to unmetered power users across the country, the Federal Government has said. It disclosed this in a document...