Reps Allege Sabotage, Grill Officials Over $120m Abandoned Ports’ Scanners         The House of Representatives’ Committee on Customs and Excise, on Monday, grilled top officials of the Federal Government over the abandonment of 22 cargo scanners that cost taxpayers $120m at the seaports, airports and land...

Credit To Private Sector Rises To N31.822trn       Banking sector credit to the private sector increased year-on-year by N382 billion to N31.823 trillion as of April, up from the N31.440 trillion it was as at the end of March. The data were compiled from the latest Central...

FG Releases N5bn Aviation Bailout, Bars 22-year Aircraft From Nigeria       The Permanent Secretary, Federal Ministry of Aviation, Hassan Musa on Monday told the House of Representatives that the Federal Government had released N5bn out of the N26bn approved as COVID-19 intervention fund for the aviation...

Forex Speculators To Lose N100bn — ABCON       Foreign exchange (forex) speculators will lose over N100 billion in the next one month as the Central Bank of Nigeria (CBN) sustains massive funding for Bureaux De Change (BDC) operators. The President of the Association of Bureaux De Change...

Foreign Reserves Depreciated By $790m       Nigeria’s foreign exchange reserves have depreciated by $790 million despite the rise in crude oil prices. The foreign reserves stood at $34.43 billion as at May 17 data from the Central Bank of Nigeria (CBN) website showed. Managing Director, Financial Derivatives Company...

NITDA Boss Woos Venture Garden to Join Bridge to MassChallenge Nigeria     The Director General, National Information Development Agency (NITDA), Mallam Kashifu Inuwa Abdullahi, has urged a leading provider of innovative, data-driven solutions, Venture Garden Group, to join the Bridge to MassChallenge Nigeria. Abdullahi made this call...