2021 Budget: 316 Projects Worth N39.5bn Duplicated — BudgIT       The 2021 national budget has been found to contain over 316 duplicated capital projects worth N39.5 billion, according to investigations by BudgIT, a public finance transparency advocacy firm. A report of analysis of the 2021 budget made...

CBN Sacks FBN Board over removal of MD/CEO The governor of the Central Bank of Nigeria, Godwin Emefiele, has sacked the entire members of the board of First Bank Holding and First Bank Nigeria Ltd. Emefiele, in his speech broadcasted on national television cited insider abuse,...

NSIA Saves N133bn On Fertilizer Subsidy       The Nigerian Sovereign Investment Authority (NSIA) has saved $350 million (about N133 billion) by cutting subsidy payments and import substitution after it began implementing the Presidential Fertilizer Initiative. In a statement by the Authority, after four years of the PFI,...

Nigeria Hits $1.5bn In Crypto Trading     Despite the ban on crypto-currency trading in Nigeria, the country has emerged as the biggest market for Paxful, a global peer-to-peer fintech and crypto-currency trading platform, with an impressive volume which currently stands at $1.5 billion and 1.5 million...

Gbajabiamila To Banks: Stop Hidden Charges, Exploitative Marketing       The Speaker of the House of Representatives, Femi Gbajabiamila, has expressed concern over the way Deposit Money Banks charge account holders indiscriminately, decrying that apart from known charges, there appeared to be other ‘hidden’ charges that banks...

DBN Appoints new Executive Director, Non-Executive Director. The Development Bank of Nigeria (DBN), Nigeria’s primary wholesale development finance institution has announced the appointments of Mrs. Ijeoma Ozulumba and Mr. Kyari Abba Kyari as Executive Director and Independent Non-Executive Director respectively on the board of the...