Retirees, Workers Kick As FG Plans N620bn Loan From Pension Funds   The Federal Government is planning to source $1.5bn (N620bn) loan from pension funds to support its proposed N7.73tn investment in transport infrastructure over the next five years. Specifically, the government is seeking to obtain the...

After 222 Days, N546.5bn Economic Losses, FG Finally Lifts Twitter Ban   After 222 days and economic losses of about N546.5 billion, the Federal Government has finally lifted the ban on Twitter operations in Nigeria. The lifting of the suspension was announced yesterday, via a statement by...

Lagos, Kano Highest Beneficiaries Of N75bn Survival Fund – Fed Govt   Lagos, Kano and Abia States have emerged as the highest beneficiaries of the federal government’s Survival Fund, following their receipt of N2.5bn, N2bn and N1.7bn respectively. This was the highlight of a presentation made by...

‘NPA To Refund N40.13bn, $921.64m To FG’   The Auditor-General for the Federation has indicted the Nigeria Port Authority (NPA) for failure to recover and remit N40.126 billion, $921.636 million and 289,931.82 pounds to government treasury from various revenue sources in 2019. This was contained in 13...

FG Says Discos’ Indebtedness Hits N326bn In Nine Months   The shortfall in remittances by power distributors to the Nigerian Bulk Electricity Trading Company Plc and the Market Operator of the sector rose to N326bn between January and September 2021, the Federal Government has said. Latest data...

Senate Begins Probe On N14.7bn PHCN Privatisation Fund In Secret Accounts     The Senate Committee on Public Accounts has begun investigation of N14.7bn proceeds of privatisation of the defunct Power Holding Company of Nigeria allegedly hidden in commercial banks by the Bureau of Public Enterprise. The committee...