FG Spent $11.6m On Armoured Vehicles Amid Forex Scarcity   While the country battled with shortage of foreign exchange, the Federal Government spent $11.56m on remodelling and refurbishing 107 armoured vehicles which were donated by the Hashemite Kingdom of Jordan. The Second Quarter and Half-Year 2022 Budget...

National Assembly To Pass Appropriation Bill December - Lawan   The Senate President, Ahmad Lawan, has said that the National Assembly will pass the 2023 Appropriation Bill of N20.5 trillion before the end of December. He made this known on Tuesday at a reception organised in his...

CBN’s Lending To Commercial Banks Drops by N350bn   Data obtained from the Central Bank of Nigeria (CBN) suggest that money deposit banks (DMBs) could be struggling to park excess cash holdings despite low access to funds by the real sector. According to the financial data, DMBs’...

Insurance Industry Assets Hit N2.3trn - NAICOM   The total assets of the country’s insurance industry have increased to N2.3 trillion in the second quarter of 2022, growing by 11.9 per cent or N200 billion from the second quarter of 2021. The non-life business assets stood at...

Analysts Kick As CBN Loans To FG Hit N22trn   The Federal Government borrowed N1.46tn from the Central Bank of Nigeria through Ways and Means Advances in August 2022. The total FG’s borrowing from CBN rose from N20.61tn in July 2022 to N22.07tn in August 2022. According to...

Fed Govt Plans N854.8bn For Pensions, Gratuities In 2023   The Federal Government plans to spend N854.8bn on pensions, gratuities and retirees’ benefits in the 2023 budget. President Muhammadu Buhari disclosed this while presenting the 2023 appropriation bill to a joint session of the National Assembly in...