Just in: Naira Crashes to N710 to a Dollar The Nigerian naira has crashed further in the parallel market, trading for N710 against the U.S. dollar on the exchange platform Aboki Forex. Checks by Economic Confidential on Wednesday showed the current parallel market rate pegged at...

IFC Approves $35m For Food Security In Africa   The International Finance Corporation (IFC) is offering a $35 million financing package to Jubaili Agrotec, a Nigeria-based agrochemicals manufacturer and distributor, to increase smallholder farmers’ access to key input and boost food production to strengthen food security...

CBN Funding to Hit N23.2trn as Debt Servicing Outpaces Revenue With the amount spent on debt servicing in the first four months of 2022 outweighing the revenue of the country, analysts have projected that the Central Bank of Nigeria (CBN) financing of government through ways...

PenCom Okays N13.21bn For Annuity Retirees The National Pension Commission has approved N13.21bn lump sum payments to annuity retirees in the first quarter of 2022. This is according to data obtained from the commission’s quarterly report on ‘Retiree life annuity’. It stated that, “The commission granted approval...

N109bn Fraud: EFCC Set to Arraign ex-Accountant General of the Federation The Economic and Financial Crimes Commission (EFCC) is set to arraign the former Accountant General of the Federation, Ahmed Idris, before a Federal Capital Territory (FCT) High Court. The EFCC had arrested Idris in May...

JUST IN: Finally, Nigeria's Debt Servicing Surpasses Revenue by N310bn The cost of servicing debt surpassed the federal government’s retained revenue by N310 billion in the first quarter of 2022. This is contained in the 2022 fiscal performance details between January and April released by the...