Experts commend CBN sanction on banks over ATM shortages Some experts have commended the Federal Government for imposing fines on nine deposit banks for failing to ensure the availability of cash through Automated Teller Machines (ATMs). They said this during an interview in Lagos on Monday,...

NNPC Faces Scrutiny Over N514bn Transactions   The Office of Auditor-General for the Federation has exposed significant financial irregularities in the Nigerian National Petroleum Company Limited's operations for 2021, totaling N514 billion. These infractions include unauthorized deductions, misappropriation of funds, and delayed remittance of earnings to...

Nigeria's Debt Profile to Exceed N13tn Target   The federal government's borrowings are expected to surpass the initial N13 trillion target to cover the budget deficit in 2025. Analysts at Afrinvest Research, in their 2025 Outlook Report, projected that net issuances of at least N13.7tn may be...

FG Allocates N53bn for Renovation of 103 Foreign Missions   The Federal Government has allocated N53 billion for the renovation of 103 foreign missions, aiming to upgrade various facilities including chanceries, staff quarters, ambassadors' residences, office furniture, and official vehicles. Allocations include N554m for the foreign mission in...

FG Sets Six-Month Deadline for Banks, Telcos to Settle N250bn USSD Debt   The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have issued a final directive to Deposit Money Banks and Mobile Network Operators to resolve the protracted N250bn Unstructured Supplementary Service...

FG Commits N1trn to Road Construction, Rehabilitation   The Federal Government through the Ministry of Works plans to rehabilitate and construct a total of 468 roads and highways across the country in the 2025 budget proposal. It also proposed a sum of N1.013tn to fund the construction...