Banks’ Total Assets Rise To N47.82trn     The total assets of the banking sector rose to N47.82tn as of the end of June. A member of the Monetary Policy Committee of the Central Bank of Nigeria, Dr Rafindadi Sanusi, disclosed this during the last MPC meeting in...

NDIC Gets N2bn To Pay Depositors Of Liquidated Bank     The Nigeria Deposit Insurance Corporation (NDIC) on Wednesday said it liquidated Fortis Microfinance Bank (FMB) to protect the interest of depositors. It said the bank went into distress because of mismanagement and abysmal corporate governance practices The Central...

FG To Spend N2.3trn Stimulus Fund On Rural Electricity, Others     The federal government’s Solar Homes Systems (SHS) programme developed under the Economic Sustainability Plan (ESP) targets the provision of modular solar-powered units to five million households to serve 25 million people in rural and under-served...

Importers Lose N1.7bn On Container Deposit Yearly     The Executive Secretary of the Nigerian Shippers Council (NSC), Barrister Hassan Bello, on Tuesday said importers lose the sum of N1.7 billion annually on container deposit to shipping companies. Bello disclosed this at the end of a meeting of...

In Two Months, NAHCO Ex-workers Received N141m – PTAD     A total of 222 ex-workers of the Nigerian Aviation Handling Company Plc were paid N141.38m in four batches between June 19 and July 28, the Pension Transitional Arrangement Directorate has said. PTAD said this in response to...

Lawmakers, Power Ministry Bicker Over N7bn Spending     The House of Representatives has accused the Federal Ministry of Power of spending N7bn on the Kashimbila power project without appropriation. It also faulted the ministry for keeping government money in commercial banks in 2015. The House Committee on Public...