FG Refunds States N860bn For Road Construction   The Federal Government has refunded N859.7bn to various state governments as reimbursement for out-of-pocket expenditures incurred in constructing federal roads over eight years. This was disclosed in a fact sheet highlighting achievements of the Buhari administration shared by the...

Senate Approves Restructuring Of FG’s N22.7trn Unbudgeted Loans From CBN   The Senate yesterday approved the request of President Muhammadu Buhari to restructure the N22.7 trillion Ways and Means loan advanced to the Federal Government by the Central Bank of Nigeria (CBN). The approval followed the consideration...

Reps Summon NIMASA DG, Halt $700m Cabotage Fund Disbursement   The House of Representatives has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to stop the planned disbursement of the $700 million Cabotage Vessels Financing Fund (CVFF). The lawmakers adopted a motion on matters of urgent...

AMCON Heightens Moves To Recover Over N4trn Debt   The Managing Director/CEO, Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru, said the corporation is taking more steps to recover the over N4 trillion government debts from private individuals. Kuru stated this at the weekend when...

IMF Says Nigeria, Others May Lose $10bn To Political Tensions   The International Monetary Fund (IMF) has said Nigeria could lose an estimated $10bn of foreign direct investment and official development assistance inflows to geo-political tensions. The IMF in its country focus on Sub-Saharan Africa, released on...

Senate Demands N3.2bn Tractor Loan Recovery   The Senate has indicted the Bank of Agriculture in Kaduna over a N3.2bn loan disbursed to 10 vendors to purchase tractors and other equipment for allocation to end users. The indictment was sequel to the 2016 report of the Auditor...