Ministers, Lawmakers Among N5trn Chronic Debtors, AMCON Says
The Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria, Ahmed Kuru, said the chronic debtors of the corporation were occupying top government positions.
He also said that the corporation was working with other agencies such as the...
Customs Seize Contraband Worth N114.5m In Seme
The Seme Area Command of the Nigeria Customs Service has said it seized contraband worth N114.5m in three weeks.
The command also disclosed that it generated a total revenue of N4.4bn between January and June.
The Customs Area Controller, Seme...
$1bn ECA Balance Is $123.11m, Presidency Says
The Presidency on Monday gave additional details on how the controversial $1bn approved from the Excess Crude Account in 2017 to fund security operations was spent.
According to the Presidency, the unspent balance as of today is $123.11bn.
The Peoples...
IPP Agreement: NBET Saves Nigeria $2.4bn Tariff From Renegotion
The Nigerian Bulk Electricity Trading Plc (NBET) has renegotiated the commercial terms it agreed in 2016 with promoters of 14 utility scale solar Independent Power Plants (IPPs),
From the renegotiation, it gathered that it was able to...
CBN To Ban $1.2bn Annual Forex For Milk, Other Dairy Products
The Central Bank of Nigeria (CBN) might have concluded plans to add milk and other dairy products to items on the foreign exchange restriction list with a view to boosting local production, and investment...
Recapitalisation: TCN To Waive N270bn Discos’ Debt
Nigeria’s power distribution companies currently owed the Transmission Company of Nigeria N270bn and TCN is willing to forgo this debt in order to have the Discos recapitalised and salvage the sector from collapse.
The total indebtedness of the 11...
