AfDB Grants $5m To AU For AfCFTA Permanent Secretariat       The African Development Bank Group (AfDB), said it provided a $5 million institutional support grant to the African Union (AU), to establish the African Continental Free Trade Area (AfCFTA) Secretariat, in Accra, Ghana. The Bank’s Vice-President, Private...

331,003 Job Losers Withdraw N116.87bn From Pension Accounts       A total of 331,003 workers who lost their jobs have withdrawn N116.87bn from their Retirement Savings Accounts under the Contributory Pension Scheme. This amounted to 25 per cent of the total balance in their RSAs with Pension Fund...

We Owe Contractors N336bn, Says Fashola     The Minister of Works and Housing, Mr Babatunde Fashola, says the Federal Government owes contractors N336bn as of July 2020. Fashola said this during an interview on Arise Television on Sunday, which was monitored by our correspondent. He said only N27bn...

Power Sector Loses N468.4bn As Hitches Stall 33,122MW       Gas, transmission, distribution and other constraints made Nigeria’s power sector to lose about N468.4bn between January and August 21 this year, latest documents on the industry’s performance have shown. Also, the constraints in the sector stalled the production...

AMCON Takes Over Jabfal Enterprises’ Assets Over N440m Debt     The Asset Management Corporation of Nigeria said on Sunday that it had taken over assets belonging to the chief promoter of Jabfal Enterprises Limited, Mr Joshua Faleye, over indebtedness of over N440m. AMCON said this in a...

Roads: Senator Seeks N500bn Annual Budget For FERMA       The Chairman, Senate Committee on the Federal Roads Maintenance Agency, Senator Gershom Bassey, has called for N500bn yearly budget to enable FERMA fix all the deplorable federal roads across the country. Bassey made the call in an interview...