IMF Cautions Nigeria On Volatile Capital Flows The International Monetary Fund (IMF) warns that countries with large external loans may be vulnerable to financial crises and recessions if capital flows out. In December 2021, Nigeria had an external debt stock of $38.39 billion. The federal...

NDLEA Recovers N19.8m from Airport Drug Syndicate, Arrests Five Members By Abdulrahman Abdulraheem A string of fresh offensives against drug cartels across Nigeria has led to the arrest of a fleeing drug kingpin heading a syndicate operating at the Murtala Muhammed International Airport, MMIA, Ikeja Lagos...

Former School Principal to Spend Two Years in Jail over N3.8m Admission Scam Abdulrahman Abdulraheem Honourable Justice Halima S. Muhammed of Gombe State High Court 2, sitting in Gombe, has convicted and sentenced a 67-year old retired Gombe State Secondary School Principal, Bello Muhammed Abubakar,...

AMCON Recovers N1trn From Debtors   The Asset Management Corporation of Nigeria (AMCON) has recovered over N1 trillion from debtors, its Managing Director, Ahmed Kuru, has announced. He spoke during a visit by the Leadership of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to...

Osinbajo Says Nigeria Suffers $14bn Loss To Farmer-herder Clashes Annually   Nigeria has lost over $14 billion yearly due to the frequent farmer-herder clashes, Vice President Yemi Osinbajo said yesterday. Osinbajo made the disclosure in Lagos, while declaring this year’s Livestock and Aquaculture Trade Fair open. Represented by...

Poor Nigerians To Hit 95.1m In 2022 - World Bank   The World Bank has said that poverty reduction stagnated since 2015, with more Nigerians falling below the poverty line over the years. President Muhammadu Buhari was first elected into the office of president of Nigeria in...