Reps to Summon CBN, Others Over Automotive Finance Scheme   The House of Representatives Committee on Industry has pledged to work towards improving access to affordable vehicle financing for Nigerians as part of efforts to strengthen the country’s automotive sector. To this end, the committee has pledged...

Nigeria Not Among Africa's Fastest-Growing Economies - IMF   The International Monetary Fund (IMF) has revealed that Nigeria is not among Africa’s fastest-growing economies, as countries such as Benin Republic, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda continue to lead the continent’s growth trajectory in the world. The...

FG Denies Stopping Revenue Agencies from Deducting Cost of Collection at Source The Federal Ministry of Finance has debunked media reports claiming that the Federal Government has stopped revenue-generating agencies from deducting their cost of collection at source. In a statement issued on Tuesday by the...

Passengers Arrested with over $6.1m Cash at Lagos Airport   Security officials at the local wing of the Murtala Muhammed Airport in Lagos have arrested some passengers alleged to be travelling on an Aero Contractors flight with cash exceeding $6.1 million in their possession. Sources familiar with...

Bilateral Companies Owe Nigeria $8.5m for Power Supply - NERC The Nigerian Electricity Regulatory Commission (NERC) has reported that some international bilateral companies owe Nigeria’s electricity generation companies (GenCos) about $8.5 million in unpaid power supply. In its latest quarterly report, the Commission said the companies...

NDPHC Commends Tinubu Over N4trn Bond Approval for GenCos' Debt Settlement   The Managing Director of the Niger Delta Power Holding Company (NDPHC) Jennifer Adighije, has commended President Bola Tinubu for his administration’s commitment to revamping Nigeria’s power sector, following his recent approval of a N4tn...