SEC To Boost Commodities Market Development   The Securities and Exchange Commission (SEC) has expressed its commitment to developing the commodities ecosystem in Nigeria to boost its non-oil sector. The Director-General of SEC, Lamido Yuguda, said this at the 2022 annual conference of the Finance Correspondents Association...

13 Banks Generate N2.04trn Interest From Customers Loans, Securities Investment   A total of 13 banks generated N2.04trillion interest from customers loans, Securities investments, among others in first half year ended June 30, 2022 on the back of Central Bank of Nigeria (CBN) hike in the...

Nigeria Debt Servicing Gulps N6.16trn In 16 Months   Debt service gulped N6.16tn in 16 months, according to the 2023-2025 Medium Term Expenditure Framework & Fiscal Strategy Paper. In 2021, the Federal Government spent N4.22tn on debt service, and further N1.94tn between January and April 2022. A breakdown...

ICPC Exposes N400bn Fraud in 2021, 2022 Budgets The Independent Corrupt Practices and Other Related Offences Commission, on Thursday, disclosed that the N13.59trillion 2021 budget was padded by the various Ministries, Departments and Agencies, with duplicated projects worth N300bn. The Chairman of the anti- graft agency,...

Buhari Commends CBN, NDIC, SEC, Others On Financial System Stability   President Muhammadu Buhari yesterday commended the Central Bank of Nigeria (CBN), alongside the Nigeria Deposit Insurance Corporation (NDIC), the National Insurance Commission (NAICOM) and the Securities and Exchange Commission (SEC), including other critical stakeholders for...

Senate, Minister Clash Over N12.43trn 2023 Budget Deficit   The Senate, through its Committee on Finance, has disagreed with the Minister of Finance, Budget and National Planning, Zainab Ahmed, as well as heads of revenue generating agencies in the country on the proposed 2023 – 2025...