Monetary

FG to Approve N498m for Luggage Scanners at Railway Stations

FG to Approve N498m for Luggage Scanners at Railway Stations   The Federal Government has approved the procurement and installation of luggage scanners in all railway stations in Abuja, Kaduna and Kano. They include eight colour-imaging Xray scanners, eight body scanners and metal detectors as well as...

FG Approves N23bn for Maintenance of Third Mainland Bridge, Others

FG Approves N23bn for Maintenance of Third Mainland Bridge, Others   The Federal Government has approved the sum of N23.33bn for surface maintenance of the Third Mainland Bridge, Lagos State, as well as the augmentation of the contract sum for the old Enugu-Anambra road project. The Minister...

Gas Flaring: FG Imposes N22bn Fine On Oil Firms

Gas Flaring: FG Imposes N22bn Fine On Oil Firms   The Federal Government will impose $49m (N22bn) fine on oil and gas firms operating onshore for flaring 24b Standard Cubic Feet of gas valued at about N40b ($86m) between January and February 2023. According to latest gas...

Hajj Fare: Don’t Exceed N3m, NAHCON Warns State Boards

Hajj Fare: Don’t Exceed N3m, NAHCON Warns State Boards   The National Hajj Commission of Nigeria (NAHCON) yesterday cautioned state pilgrims welfare boards (SPWBs) against charging above the amount jointly agreed which is less than N3 million. The commission stated some states are announcing fares different from...

Reps Summon Finance Minister, AGF, Others Over $2.4bn Illegal Crude Oil Sale, Whistleblower Policy

Reps Summon Finance Minister, AGF, Others Over $2.4bn Illegal Crude Oil Sale, Whistleblower Policy   Members of the House of Representatives ad-hoc committee investigating alleged loss of over $2.4 billion in revenue from illegal sale of 48 million barrels of crude oil export from 2015 till...

In One Year, Contributory Pension Assets Gain N1.68trn – PenCom

In One Year, Contributory Pension Assets Gain N1.68trn – PenCom   The assets under the Contributory Pension Scheme rose by N1.68tn from N13.76tn as of the end of February 2022 to N15.45tn as of the end of February 2023. PenCom disclosed this in its unaudited report on...