Railway Debt Servicing Gulps N246bn   The Federal Government spent $548.67m (N246.11bn using the official exchange rate of N448.55 to a dollar by the Central Bank of Nigeria ) to service railway-related debts between 2016 and 2022, according to Nigeria’s external debt service payments reports by...

EFCC Recovers N13bn Illegal Fuel Subsidy Payments   The Economic and Financial Crimes Commission (EFCC) recovered about N13bn as proceeds of illegal payments made under the subsidy regime between 2017 and 2021. This was based on the National inherent risk assessment of money laundering and terrorist financing...

N22trn Loan To Attract Additional N1.8trn Interest, Says Buhari   President Muhammadu Buhari on Tuesday, signed into law the 2023 budget proposal of N21.83tn along with the 2022 supplementary appropriation bill. It is the eighth and final budget of his regime. Buhari signed the 2023 budget at the...

In Five Years, Presidential Panels Gulp N15bn   About N14.79bn was earmarked for presidential committees supervised by the Office of the Secretary to the Government of the Federation between 2018 and 2022. This came as President Muhammadu Buhari inaugurated at least 10 committees and councils in 2022...

Immigration Generates N438bn From Passport Issuance, Others   The Nigeria Immigration Service (NIS) has generated N438.78bn as revenue from 2017 to date. This came as the total sum of Internally Generated Revenue (IGR) by the agency almost doubled from N38.53bn in 2017 to N74.69 (budgeted IGR) in...

Credit To Private Sector Increases By N6.4trn In 11 Months   With banks increasing interventions in the real sectors, credit to private sector increased to N41.58 trillion in November 2022 from N40.84 trillion in October, the latest Central Bank of Nigeria (CBN) “Money and Credit” statistics...