W/Bank Withholds $1.5bn Loan To Nigeria         Nigeria got a caveat on Thursday to get approval for a $1.5 billion loan she is seeking from the World Bank. The reforms around the naira must be strengthened by the Federal Government, the financial institution is insisting. According to...

Illegal Gold Mining: Senate Seeks Probe Of $9bn Annual Revenue Loss         The Senate on Wednesday urged the executive arm of government to investigate the alleged annual revenue loss of $9bn to illegal mining and smuggling of gold in Nigeria. The upper chamber urged the Federal Government...

NCAA, Airlines Settle On N22bn Debt         The Nigerian Civil Aviation Authority (NCAA) said yesterday it is developing a flexible payment plan to retrieve the over N22bn debts being owed by airline operators. Economic Confidential reports that the NCAA had recently vowed to impose sanctions for operators...

Local Content Act: NCDMB Retains $6.4bn Of Industry Annual Spend         Notwithstanding the challenges in the global oil and gas industry, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has stated that the agency has retained the $6.4 billion of yearly spend...

FEC Approves N59.35bn For Aviation, Roads Projects         The Federal Executive Council (FEC) on Wednesday approved N59.350 billion for roads and aviation projects across the country. Three ministers – Babatunde Fashola (Works and Housing), Alhaji Lai Mohammed (Information and Culture), on behalf of Senator Hadi Sirika (Aviation)...

House Summons Auditor General Over $36.1m W/Bank Loan         The House of Representatives has summoned the acting Auditor General of the Federation, Mr Aghughu Adolphus, over a $36.1m facility under the Fiscal Governance and Institutions Project of the World Bank, to the office. The House Committee on...