AfDB Offers SEC $400,000 Grant for Capital Market Devt     The African Development Bank (AfDB) Group last Friday signed a $400,000 grant agreement with the Securities and Exchange Commission (SEC) of Nigeria to strengthen securities markets regulation and broaden market instruments. The funds will go towards strengthening...

NNPC To AuGF: We Spent N966bn On Pipeline Repairs       The Nigerian National Petroleum Corporation has explained that it spent N966bn to repair pipelines between 2010 and 2015. NNPC stated this in response to the query raised in the 2016 report of the Auditor General for the...

Power Sector Loses N59.33bn In Three Months     Between January 1 and March 6, 2021 Nigeria’s power sector lost N59.33bn but posted its highest ever peak generation of 5,802 megawatts during the period. Documents obtained from the Federal Ministry of Power on the sector’s performance for the...

We're Targeting N5.9trn Revenue In 2021 - FIRS Chairman       Chairman, Federal Inland Revenue Service, FIRS, Mohammed Nami yesterday placed their revenue projection for 2021at N5.9 trillion. Nami made the disclosure while meeting with the House of Representatives Committee on Finance led by Hon. James Falake on...

Senate Tackles NNPC Over N443bn Payment Without Approval       Senate Public Accounts Committee on Wednesday berated the Nigerian National Petroleum Corporation for paying N443bn without the National Assembly’s appropriation. The chairman of the committee, Senator Mathew Urhoghide, has summoned the management of the NNPC to explain the...

#EndSARS: 25 Insurance Companies To Pay N20.4bn Claims       Twenty-five insurance companies have recorded claims totalling N20.4bn from losses that emanated from the #EndSARS protests which occurred in the country in October, findings have revealed. Figures obtained from by our correspondent from the underwriters on Wednesday under...