External Reserves Declined By $640m In May – CBN
The country’s external reserves lost $640m in May, falling to $34.24bn on May 28 from $34.88bn as of April 28.
Figures obtained from the Central Bank of Nigeria on Tuesday revealed that the reserves had been fluctuating...
NDIC Seeks Ministry’s Support On Failed Banks’ Assets
The Nigeria Deposit Insurance Corporation (NDIC) has solicited the support of the Ministry of the Federal Capital Territory (FCT) in the realisation of landed properties of banks in-liquidation within the FCT to enable it pay depositors of...
'Nigeria, Others Need $15.7bn To Upgrade Refineries'
African countries will need about $15.7 billion to upgrade existing 36 refineries on the continent to produce petroleum products that will conform with a planned level of sulphur content.
African Refiners and Distributors Association (ARDA) disclosed that the $15.7...
PFAs Invest N8.3trn In FGN Securities
Pension Fund Administrators (PFAs) have invested N8.32 trillion in Federal Government’s Securities, out of the N12.39 trillion pension fund assets recorded as at April 2021.
According to the National Pension Commission (PenCom) Monthly Summary Report released on April 26, 2021,...
Fed Govt Urges MDAs To Attract Foreign Investments
The Minister of Finance, Budget and National Planning, Zainab Ahmed has said it is important for government agencies to be committed to the pursuit of the earmarked 40 deliverables.
She stated that attainment of these deliverables would guarantee...
$40bn Investments Needed To Boost Power Supply In Nigeria - FG
The federal government has said that there’s still a lot of financing gap in the country’s power sector, requiring an immediate funding of $40 billion in the generation, transmission and distribution value chain.
The government...
