TCN Attracts $1.66bn, Plans Massive Increase In Power Transmission   The Managing Director of the Transmission Company of Nigeria (TCN), Mr Usman Gur Mohammed has said with proper planning, the firm has attracted $1.66 billion to raise bulk power wheeling capacity from 8,100 megawatts (MW). Mr Mohammed...

NIPC Targets N1.4bn From Tax Incentive Fees By 2020   The Nigerian Investment Promotion Commission (NIPC) is targeting total revenue of N1.46bn from investment promotion in the 2020 fiscal period The Executive Secretary/Chief Executive Officer, Ms Yewande Sadiku, confirmed this in a letter to the Minister of...

AfDB Shareholders Approve $115bn Capital Increase   The governors of the African Development Bank, representing shareholders from 80 countries, have approved $115bn increase in capital for the continent’s foremost financial institution. The approval was made at an extraordinary shareholders meeting held on Friday in Abidjan. The capital increase,...

CBN To Recover N36bn Loans From North-East Farmers   The Central Bank of Nigeria has inaugurated a committee in all local governments in the North-East to recover N36bn loans advanced to farmers. The loan facility advanced to the farmers through the North-East Commodity Association is part of...

AMCON’s Debt Could Be N6.6trn By 2024   A Legal consultant and Senior Partner, Olaniwun Ajayi -LP, Muyiwa Balogun has said the Asset Management Corporation of Nigeria (AMCON) debt could rise to N6.6 trillion by 2024 from current N5 trillion if unchecked. Balogun who spoke in Abuja,...

World Bank: $2trn Lost Annually To Illicit Logging, Others   Illegal logging, fishing and wildlife trade rob the world of precious natural resources – and ultimately of development benefits and livelihoods, the World Bank has said. It said the statistics are grim: an elephant is poached for...