Oil, Power Companies’ Bank Debts Now N6.14trn - CBN       The debts owed to Nigerian banks by oil and gas operators as well as power companies have risen above N6tn, the latest data obtained from the Central Bank of Nigeria have shown. The energy firms increased their...

Oil And Gas Trade Zone Attracts $16.6bn Foreign Investments In 20 Years         The Oil and Gas Free Trade Zones Authority has attracted the sum of $16.6bn foreign direct investment into the economy within a 20-year period spanning 2001 to 2020. During the same period, the Authority...

SEC Remits N1.5bn To FG, Assures Of Profitability In Two Years         Following comments attributed to the Nigerian Senate that the Securities and Exchange Commission (SEC) was gradually becoming insolvent and could go bankrupt very soon, Director-General, of the SEC, Mr. Lamido Yuguda has disclosed that...

COVID-19 Loans: CBN Receives Over 8million Applications, Disburses N400bn       The Central Bank of Nigeria has disclosed that it has received over eight million applications from Nigerians for its COVID-19 Targeted Credit Facility to help households and businesses. CBN’s Director, Corporate Communications Department, Mr Osita Nwanisiobi, disclosed...

Nigeria Could Save $432.6m In Debt Service Suspension – W/Bank       The World Bank has disclosed that Nigeria could save about $432.6m from May 2020 to December 2021 through the debt service suspension initiative. It disclosed this in a brief on COVID-19: Debt Service Suspension Initiative updated...

VAT Controversy: FIRS May Lose Over N2.4trn Revenue To States       The Federal Inland Revenue Service may lose over N2.4tn revenue to the 36 state governments in 2022 if it loses its appeal against a Federal High Court verdict which barred it from collecting the Value...