Pension Board Pays N534m To Jigawa Retirees   The Jigawa State and Local Governments Contributory Pension Scheme Board has commenced the payment of over N534 million as entitlements to 318 beneficiaries. The Executive Secretary of the board, Alhaji Ahmad Fagam, made this known while speaking with newsmen...

Unused Power: GenCos Lost N1.2trn In Five Years   About 24 power Generating Companies (GenCos) lost N1.19trn on electricity capacity not paid for in the Nigerian Electricity Market in the last five years. Records of loses on the stranded power generation capacity since 2015 shows that...

N1.6trn NNPC, Sovereign Wealth, Education, Funds Omitted In 2020 Budget   A total of N1.635 trillion key expenditure items captured in the 2020-2022 Medium Term Expenditure Framework (MTEF) are missing in the N10.594 trillion 2020 Budget recently passed by the National Assembly and assented to by...

FG Earmarks N61bn For Nigeria-Siemens Power Pact   The Federal Government has set aside the sum of N61bn for the Nigeria Electrification Road map to be developed in partnership with Germany-based Siemens AG. The amount provisioned for the Presidential Power Initiative is one of the key expenditures...

Water Ministry Can’t Account For N344m Expenditure, Report Says   Eight payment vouchers raised by the Ministry of Water Resources during the 2017 financial year totalling N343.95m were not presented for audit. The revelation is contained in the audit report of the ministry which was prepared by...

Complaints: CBN Imposes N2m Fine, Others On Banks   Any bank that failed to acknowledge the complaints from depositors, will pay a fine of N2m, guidelines from the Central Bank of Nigeria, stated. Besides, each week the bank refused to address customer’s complaints within the prescribed timelines,...