Senate Probes BPE, Alleges Unremitted $679.4m Rent On Ports’ Concession   The Senate Committee on Public Accounts has begun an investigation of the Bureau of Public Enterprises for allegedly failing to remit $679.4m realised from the concession of various ports to 23 companies the Nigerian Ports...

PFAs Invest Additional N693bn Pension Funds In Banks   The Pension Fund Administrators invested N693bn funds under the Contributory Pension Scheme in banks in nine months, according to data from the National Pension Commission. PenCom’s unaudited report on pension funds industry portfolio for the period ended September...

Banking Industry Credit Rises to N23.5trn   The Central Bank of Nigeria has stated that banking industry credit in 2021 reached N 23.5 trillion with Other Financial Institutions (OFIs); comprising of Microfinance Banks, Development Banks, Merchant banks and mortgage banks contributing N2.79 trillion, representing 10.62 per...

N188.64bn Generated At Onne Port In 2021 - Customs   The Area ll Command of the Nigeria Customs Service in Onne Port has said it collected N188.64bn from January to December 2021 in revenues, compared to the N69.68bn it generated in 2020. In a statement, the Customs...

Discos Remit Only N265.03bn of N519.77bn Invoices To NBET In Six Months   Electricity Distribution Companies (Discos) only managed to remit N265.03 billion of the expected N519.77 billion to the Nigerian Bulk Electricity Trading Company (NBET) in the first six months of 2021. Data from the Nigerian...

Customs, Immigration, 13 Others Fail To Remit N127.1bn – Audit Report   The Office of the Auditor General of the Federation has disclosed that 15 Ministries, Departments, and Agencies failed to remit N127.13bn revenue to the Consolidated Revenue Fund between 2017 and 2019. The OAuGF made this...