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...

Companies Pay N1.25tn Tax Amid Energy Crises, Forex - NBS The National Bureau of Statistics recent data has revealed that Nigerian firms paid N1.25tn tax to the Federal Government in the first six months of 2022 despite facing acute foreign exchange and energy challenges. According to...

Insurance Sector Records 17.28% Growth In Q2, 2022   The insurance sector grew by 17.28 per cent in the second quarter of 2022, according to figures obtained from the National Bureau of Statics’ Gross Domestic Product report for the period. The NBS stated in the report that,...