$60bn Cash Call: Reps Probe NNPCL Over Losses The House of Representatives on Wednesday resolved to investigate the Nigerian National Petroleum Company Limited (NNPCL) over an alleged loss of an estimated $60bn to inflated Cash Calls. To this end, the House mandated its Committee on Finance...

'Contributory Pension Assets Rise to N17.66trn'   The total assets under the Contributory Pension Scheme rose to N17.66tn as of the end of October 2023. Figures obtained from the National Pension Commission (PenCom) on ‘Unaudited report on pension funds industry portfolio for the period ended October 31,...

Electricity Consumers Pay N783bn as Subsidy Gulps N376bn   The Federal Government spent N375.8bn on electricity subsidy between January and September this year, as power consumers paid a total of N782.6bn for the commodity during the same period, it was gathered on Sunday. The latest power subsidy...

Naira Appreciates Against Dollar at Forex Market The Naira appreciated against the US dollar on Thursday at the official and parallel foreign exchange markets. Official data from FMDQ disclosed that it appreciated to N901.41/$1 at the close of work on Thursday. The figure represents a N3.15 gain...

FG To Spend N600bn On Electricity Subsidy In 2023   The federal government might have to pay N600bn as electricity subsidy in 2023. The Chairman/CEO of the Nigerian Electricity Regulatory Commission (NERC), Engr. Sanusi Garba made the disclosure at the ministerial retreat on the Integrated National Electricity...

Senate Condemns Trade Ministry Over Alleged N1bn Geneva Trip   The Senate Committee on Trade and Industry on Tuesday condemned the alleged allocation of N1bn for a foreign trip to Geneva, Switzerland, by the Ministry of Trade and Investment. Members of the panel gave the condemnation when...