Reps Begin Probe Of N6.5bn Unrecovered Revenue   The House of Representatives on Tuesday commenced investigation into activities of the Board Management of Lagos International Trade Complex (LITC) over unrecovered revenue worth N6.5 billion. The resolution was passed during an investigative hearing held at the instance of...

Report Reveals 7000 firms, MDAs Owe FG N5.2trn   Eleven ministries, departments and agencies of the government as well as over 7000 corporate and private entities currently owe the Federal Government the sum of N5.2tn, a new report by the Federal Ministry of Finance has shown. Details...

Fed Govt Received $339m From World Bank In 2022   The Federal Government has received $338.98m from the World Bank in 2022, which it plans to release to states soon. The funds were released under the State Fiscal Transparency, Accountability and Sustainability project, which was initiated in...

DMO Cautions FG, Says Nigeria Can’t Survive With Endless Debt The Debt Management Office has revealed that it has been challenging for Nigeria to borrow from the international markets because global creditors and investors are shunning countries with Category ‘B’ economic ratings. In a statement by...

CBN Released $3.5bn For Foreign Education Under Buhari's Administration     Data obtained from the website of the Central Bank of Nigeria on Sunday revealed that Nigeria’s educational sector suffered massive capital flight during the regime of President Muhammadu Buhari. Specifically, using the CBN’s balance of payment statistics,...

Reps Summon 63 Agencies For N2trn Illegal Spending   The House of Representatives Committee on Public Accounts has summoned 63 institutions of the Federal Government for implementing budgets not presented by the President and passed by the National Assembly, leading to illegal spending totalling over N2...