Monetary

FG Approves $2.5m, N498.2m For Four Power Projects     The federal government has approved a total sum of $2.54 million and N498.23 million for four power...

Insecurity Fuels 22% Food Inflation, Surveillance Gulps N476bn       The Federal Government may have spent N475.8bn on surveillance to curtail the high level of insecurity threatening...

Nigeria, Others Lose $2bn Annually To Illegal Sea Activities       The United States (U.S) Consul-General, Claire Pierangelo, has said West Africa loses about 800,000 tons of...

Anticipated $3.4bn SDRs From IMF, $6.2bn Eurobond Issuance Lift Naira At BDC, Parallel Markets     Despite the suspension of supply of foreign exchange sales to Bureau...

Customs Impound N22bn Animal Parts, N338.58m Goods     The Nigeria Customs Service (NCS), on Wednesday, said it intercepted N22.2 billion worth of elephant and pangolin scales...

FEC Okays $1.48bn For Refineries Repair       The Federal Executive Council on Wednesday approved $1.48bn for the rehabilitation of two refineries in Warri and Kaduna. The decision...

Nigeria Loses N530bn Annually To Motor Insurance Evasion       Although Nigeria has about 11.8 million registered vehicles plying the roads, only about 1.2 million of such...

Nigerians Lose N150.46bn To Twitter Ban In Two Month       Nigeria businesses may have lost N150.46bn ($366.88m) since the Federal Government’s ban on Twitter took effect...

'Nigeria, Others Require $15.7bn To Curb Refineries’ Emissions'     African nations need to spend about $15.7bn on their refineries to curb emissions and meet climate-change targets...

Nigeria Gets $3.35bn In IMF’s $650bn SDR Allocation       The Board of Governors of the International Monetary Fund (IMF) has approved a general allocation of Special...

NIPOST Launches N50 Stamp, Targets N60bn Revenue       The Nigeria Postal Service (NIPOST) has launched a new N50 denomination revenue stamp, projecting remittance of yearly revenue...

$23bn Diaspora Remittances Raise Income Line For Households       In recent time, there have been moves to increase the volume and value of dollars remitted into...

Loans From W/Bank, AfDB Rise To $14.35bn Under Buhari's Administration       Nigeria’s liabilities to the World Bank and the African Development Bank rose from $7.14bn to...

Senate Names Jonathan, Sambo, Others In N665.8bn Diversion, Demands Refund       The Senate has demanded a refund of funds totalling N665.8bn which were allegedly diverted by...

Egbin Power Decries N388bn NBET Debt, Idle Capacity       Egbin Power Plc, the biggest power station in Nigeria, has said it is owed N388bn by the...

Pension Fund Assets Hit N12.66trn       The nation’s pension fund assets rose significantly to N12.66 trillion as at the end of June, 2021. As at the end...

We're Targeting 10,000MW Of Electricity From $3bn Interventions - FG       The Federal Government, yesterday in Abuja, said 10 Gigawatts (10,000MW) of electricity is feasible from...

Nigerians Spend N7trn Yearly On Power Generation       Nigerians, and by extension, their businesses, expend about N7 trillion annually on power generation, a Renewable Energy expert,...

COVID-19 Wiped Off $5bn Diasporan Remittances - FG       THE Federal Government has said that the COVID-19 pandemic has wiped off 20 per cent from the...

Senate To AGoF: Sanction Officers Involved In $274.2m External Loan Losses       The Senate has asked the Accountant General of the Federation, Ahmed Idris, to identify...