CBN: Nigeria Generates N29.95 Billion From Exportation of Electricity The Central Bank of Nigeria data report has revealed that Nigeria generated a sum of $72 million from electricity export in 2021, a naira equivalent of N29.95 billion, using the official exchange rate of N416/$1. This is...

CBN Approves DLM Capital's Links Microfinance Bank The Central Bank of Nigeria (CBN) has approved DLM Capital Group's acquisition of Links Microfinance Bank. DLM Capital Group comprises of subsidiaries in investment banking, trustees, securities trading, FX, digital banking, asset management, nominees, and corporate lending. This approval is...

Railway Pensioners: N3.6 billion Pensions Fund Held by NRC Management  Retirees of the Nigerian Railway Corporation has appealed to President Muhammadu Buhari, Vice President Yemi Osinbajo and Economic and Financial Crime Commission (EFCC) to urgently intervene and investigate why the management of the Railway Corporation...

Finance Minister: 5,000 Debtors Owe FG N5.2tr The Federal Government of Nigeria has disclosed that 5,000 debtors are currently owing its ministries, departments and agencies a total sum of N5.2trn which is worrisome considering the dwindling revenue challenges. The Minister of Finance, Budget and National Planning,...

INVESTIGATION: How Ganduje Approved N110m to Non-existent Company for 1Km Road Project that has now been Abandoned  From Usman Bello Balarabe, Kano  A construction company to which Kano state governor, Abdullahi Ganduje, awarded a road contract in 2019 has been found to be non-existent. The state government...

Nigeria’s Non-oil Exports Decline By 39%   Nigeria’s non-oil exports have fallen by 39 per cent from N6.914tn to N4.194tn in10 years, according to an analysis of the National Bureau of Statistics’ Foreign Trade Statistics. Specifically, figures show that the N4.194tn non-oil exports recorded in 2021 is...