'N120bn Intervention Will Address Nigeria’s Electricity Challenges'       Stakeholders in the electricity sector, yesterday, said the Federal Government’s intervention in the power sector, especially efforts being made to address challenges limiting the capacity of distribution companies (DisCos) is necessary to improve electricity supply. The experts also insisted...

Senate Demands Explanation On N7.5bn Withdrawals From Ahmed, NSA       The Chairman, Senate Public Accounts Committee, on Wednesday gave the Ministry of Finance, Office of the Accountant General of the Federation and the Office of the National Security Adviser till Tuesday next week to explain an...

Accountant-general, NEITI To Recover $5.31bn, N69.5bn From Extractive Industries         The Accountant-General of the Federation, Ahmed Idris, on Tuesday vowed that his office would work with the Nigeria Extractive Industries Transparency Initiative to recover N69.5bn and $5.31bn from the extractive sectors for the Federal Government. Last month,...

Commercial Banks’ Loan To FG Hits N1.8trn       The total commercial loans to the government, at all levels, rose to N1.77 trillion at the close of last year, about 18 per cent increase from the N1.5 trillion reported in December 2019. This comes as the total outstanding...

FG Spends N568.5bn Yearly On Power Tariff Shortfalls – W/Bank       The Federal Government of Nigeria is spending $1.5bn (N568.5bn at N379/$ exchange rate) annually to fund electricity tariff shortfalls, the World Bank has said. According to the global financial institution, this amount could further increase if...

‘Nigeria Lost N5.5trn To Cybercrimes In Ten Years’       The Chief Strategy Officer, Deloitte West Africa, Mr. Tope Aladenusi, has stated that Nigeria lost N5.5 trillion to fraud and cybercrimes in 10 years. Aladenusi, who disclosed this at a recent webinar hosted by First Bank of Nigeria...