Over 3m Nigerians Lost N18bn To Ponzi Schemes – SEC       Over three million Nigerians have lost about N18bn through Ponzi schemes, the Securities and Exchange Commission stated on Tuesday. Director-General, SEC, Lamido Yuguda, said this during a webinar organised by the commission. Ponzi schemes are fraudulent investing...

Oil, Power Firms’ Bank Debts Rise To N5.94trn     The debts owed to Nigerian banks by oil and gas operators as well as power companies in the country rose to N5.94tn at the end of 2020 from N5.25tn in December 2019. The N5.94tn represents 29.16 per cent...

DisCos’ Sustainability Questioned As FG Pays N50bn Monthly Subsidy       The government’s financial support to the power sector hovering around N2.3 trillion in the past few years has raised concerns among stakeholders who insisted, yesterday, that the industry is at a crossroad. The Minister of Power, Sale...

MDAs Failed To Remit N1trn Revenue - FRC     Ministries, departments and agencies of the Federal Government are in deficit of over N1tn to the Consolidated Revenue Fund, the Fiscal Responsibility Commission announced on Wednesday. It also announced that the FRC and the Independent Corrupt Practices and...

Nigeria Loses N151.78bn Crude Oil Monthly – NNPC       Nigeria is currently losing an average of 200,000 barrels of crude oil daily, the Nigerian National Petroleum Corporation stated on Wednesday. Brent, the oil against which Nigeria’s crude is priced, was $66.75 per barrel on Wednesday, while the...

Afrexim Bank Okays $2bn For COVID-19 Vaccines For Nigeria, Others       The Board of Directors of the African Export-Import Bank (Afrexim) has approved $2 billion to support the purchase of 270 million doses of COVID-19 vaccines for African countries, including Nigeria. President of the bank, Prof. Benedict...