Banks’ Borrowing From CBN Rises To N24.53trn In 11 Months     The scarcity of liquidity has forced banks and merchant banks to aggressively depend more on the Central Bank of Nigeria (CBN) for short-term liquidity needs, leading to N24.53 trillion borrowing from the apex bank between...

Retirees Rise By 27%, Collect N890bn From Govts, Private Sector     The total number of retirees under the Contributory Pension Scheme has risen by 27 per cent in two years, data obtained by our correspondent have shown. Specifically, the total number of retirees rose from 291,569 in...

FG’s Capital Market Debt Servicing Gulps N2.18trn In 10 Months   Servicing of debts acquired through instruments issued by the Federal Government in the Nigeria capital market totaled N2.18tn as of October 30, an analysis of data by our correspondent has shown. Data from listed debt instruments...

Fed Govt Bans 91 Private Jets, Insists On N30bn Duty The Federal Government has directed the Nigeria Customs Service to ground 91 private jets belonging to some Nigerians over their alleged refusal to pay import duties running to over N30bn. It will be recalled that the...

Govt Agencies Budget N12.2bn For Sewage, Cleaning, Fumigation Services   Some agencies of the Federal Government have proposed to spend N12.2bn on sewage, cleaning and fumigation in the 2022 fiscal year, data obtained from the budget proposal have shown. President Muhammadu Buhari has in October presented to...

Fed Govt’s Deficit Spending Rises By 51% To N5trn   The deficit spending of the Federal Government, FG, rose by 51 per cent, year-on-year, YoY, to N5.1 trillion in seven months to July 2021, driven by rising non-discretionary spending on security and COVID-19 mitigation measures. The rise...