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...

U.S. To Increase Africa’s Yearly Development Finance To $6bn       The United States of America (USA) plans to increase its annual development finance to Africa by 20 per cent from about $5 billion to some $6 billion. Chief Operating Officer, U.S. International Development Finance Corporation (DFC), David...

COVID-19: Financial Institution'll Fund N1.8trn Stimulus Package – FG       The Federal Government on Thursday said about N1.8tn of its N2.3tn COVID-19 economic stimulus package would be funded by financial institutions. It also disclosed that about N288bn from the N500bn of the package funded through the 2021...