Nigeria Loses $1.7bn Court Case Against JP Morgan   Nigeria has lost a $1.7 billion London court case against JP Morgan Chase & Co for the bank’s role in the transfer of millions of dollars to a former oil minister convicted for corruption. Nigeria had argued that...

Nigeria Lost N1.04trn Aircraft Repairs In Foreign Countries – FG   Nigeria lost $2.5bn (about N1.04tn at the official exchange rate of N415.63/$) to other countries in 2021 for the Maintenance, Repair and Overhaul services on Nigerian aircraft and other facilities, the Federal Government announced on...

Contributory Pension Gains N640bn In Four Months, Now N14trn   Total assets under the Contributory Pension Scheme rose by N640bn in four months to N14.06tn in April, according to figures from the National Pension Commission (PenCom) released on Friday. This was contained in the National Pension Commission...

 Despite Unstable Power, Discos Generated N2.4trn   The Electricity Distribution Companies (Discos) raked in a total of N2.4 trillion as revenue between 2015 and 2020, the National Bureau of Statistics (NBS) has revealed. According to the NBS, revenue generated by the DisCos in 2015 stood at N278.89...

Nigerians Spent N74bn To Import Motorcycles In Q1, 2022   As the Lagos State Government clamps down on commercial motorcyclists and while some states try to regulate their activities, the National Bureau of Statistics (NBS) has said N74 billion was used to import motorcycles in the...

NPA MD Says Tin-Can Island Port Repairs To Gulp N360bn   Indication has emerged that the reconstruction of Nigeria’s second largest seaport, the Tin-Can Island Port in Lagos, will gulp about 600 million US dollars (N360 billion). Recall that the Nigeria Ports Authority (NPA) hinted at rehabilitating...