Rising Inflation Drives Consumption Expenditure To N57trn In H1, 2022   Rising inflation drove Nigerians’ consumption expenditure to N57.08trn in the first half of 2022. This is a 14.39 per cent increase from the N49.89tn that was spent in the corresponding period of 2021, according to the...

State Govts Lose N116bn Tax Revenue In Two Years   Knocks have trailed the loss of N116bn tax revenue by the state governments in Nigeria within a space of two years. According to the data from the Nigerian Bureau of Statistics, a total of 13 states had...

NASS Queries NEITI On N960m Personnel Cost   The Senate Committee on Public Accounts has queried the Nigeria Extractive Industries Transparency Initiative over a N960m personnel cost in the 2022 budget allotted to 43 employees. While presenting the budget before the committee, Executive Secretary of NEITI, Dr....

US Dollar Crashes as Naira appreciates to N740/$ at Black Market For the first time in this month, November 2022, the Nigerian currency, Naira has appreciated significantly against the US dollar at the parallel section of the foreign exchange market. Bureaux De Change (BDC) operators who...

In Two Years, AMCON Recovers N307bn Debt The Asset Management Corporation of Nigeria says it has recovered a total of N307 billion debts between 2020 and 2021. An inter-agency committee set up on the recovery of debts owed to the Asset Management Corporation of Nigeria led...

NASS Probes MDAs Over N600bn Illegal Spending   The House of Representatives Committee on Public Accounts has commenced a full-scale investigation of 115 ministries, departments and agencies of the Federal Government for spending over N600bn outside their approved budgets on salaries and allowances. Office of the Auditor...