'N120bn Intervention Will Address Nigeria’s Electricity Challenges'       Stakeholders in the electricity sector, yesterday, said the Federal Government’s intervention in the power sector, especially efforts being made to address challenges limiting the capacity of distribution companies (DisCos) is necessary to improve electricity supply. The experts also insisted...

Senate Demands Explanation On N7.5bn Withdrawals From Ahmed, NSA       The Chairman, Senate Public Accounts Committee, on Wednesday gave the Ministry of Finance, Office of the Accountant General of the Federation and the Office of the National Security Adviser till Tuesday next week to explain an...

FIRS Grants Dangote Cement N22.32bn Tax Credit       The Federal Inland Revenue Service (FIRS) has issued Dangote Cement Plc, tax credit certificates valued at N22.321 billion. The tax credit certificates were for the construction of Apapa-Oworonshoki-Ojota road in Lagos and the Lokoja-Obajana-Kabba road connecting Kogi and Kwara...

Senate Passes AMCON Amendment Bill       The Senate has passed the Asset Management Corporation of Nigeria (AMCON) Amendment Bill. This followed the adoption of the report of Senate Committee on Banking, Insurance and Other Financial Institutions at plenary on Wednesday. Presenting the report, Senator Uba Sani, Chairman of...

Reps Urge CBN To Suspend Recapitalisation Of Microfinance Banks       The House of Representatives has urged the Central Bank of Nigeria (CBN) to suspend the planned recapitalisation for microfinance banks until the economy stabilises and considered safe. The House mandated the Committee on Banking and Currency to...

In One Month, CBN Injects $1.47bn Into Forex Market       The Central Bank of Nigeria injected $1.47bn into the foreign exchange segment of the market as part of its efforts to stabilise the naira in January. According to figures from the CBN’s January report on its foreign...