World Bank: Nigeria Couldn’t Save $342.1m with DSSI The World Bank report says Nigeria could have saved about $342.1m between January and December 2021 through the Debt Service Suspension Initiative (DSSI). This was disclosed on its website in a brief on Debt Service Suspension Initiative updated...

Naira Falls to N585 per Dollar In the parallel market for foreign exchange, the Nigerian naira has dropped to N585 against dollar. The figure represents N4 or 0.7 percent depreciation compared to the N581 it traded last week. According to Bureau De Change (BDCs), popularly known...

CBN Reveals Guidelines For Cash Hub Operations   In a bid to ease huge cash management and deepen financial inclusion, the Central Bank of Nigeria (CBN) has released guidelines for the operation of the Bank Neutral Cash Hubs (BNCHs). According to a statement on its website, the...

Reps Probe 77 Oil Firms Over Unremitted N2.6trn Revenue   The House of Representatives, on Tuesday, commenced investigative hearing on the N2.6tn owed the Federal Government by 77 oil companies operating in Nigeria. The House is acting on the 2019 report of the Nigeria Extractive Industry Transparency...

FG’ll Tap $2.2bn Eurobond For Fuel Subsidy Funding, Says Minister   The Federal Government is planning to tap €2bn ($2.2bn) by this month or next of the money it raised in a Eurobond sale last year and targets more local borrowing in 2022 to help fund...

Reps Grill Amaechi, BPE Officials Over $214m Deep Blue Contract   The Bureau of Public Procurement (BPE) has told the House of Representatives’ Committee on Navy that it does not possess the documents presented by the HSL International Limited, which the Federal Government awarded the ‘Deep...