FG Eyes $5bn Revenue from Annual Osogbo Festival   The Federal Government through the National Institute for Cultural Orientation (NICO) has unveiled an ambitious plan to host the Annual World Orisa Congress, with projections indicating a potential revenue generation of over $5 billion. NICO announced on Thursday that the...

Nigeria’s Public Debt Hits N142tn as Servicing Gulps N3.57tn in Q3 2024 – DMO Nigeria’s total public debt rose to N142.3 trillion as of September 30, 2024, representing an increase of 5.97 per cent (N8.02tn) compared to N134.3tn in June 2024. The debt, comprising external and...

CAC strengthens compliance, enforcement mandates for efficient management of entities The Corporate Affairs Commission (CAC) has unveiled plans to strengthen its compliance and enforcement mandates, with a focus on formalising businesses and enhancing post-incorporation compliance. The Registrar-General of CAC, Hussaini Magaji, said this during the in-house...

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...