Tinubu Seeks Fresh Approval of $7.8bn, €100m Loans President Bola Tinubu has approached the Senate for the approval of another $7.8bn and €100m loans, barely 24 hours after seeking approval of the N2.18tn supplementary budget. The request of the President was contained in a letter to...

In Three Years, Nigeria Lost N2.9trn to Contracts, Procurement Fraud - EFCC Boss The newly appointed chairman of the Economic and Financial Crimes Commission, Ola Olukoyede says tax payers lost N2.9trillion in just two years (2018 -2020) to contracts and procurement fraud alone. The Senate confirmed...

Senate Appoints Committee Chairmen on Power, Foreign Debts, Appropriation, 71 Others The Senate has unveiled the chairmen of its 74 full-standing committees. The committee chairmen that were announced on Monday include; Abaribe Eyinnaya, Power; Solomon Adeola, Appropriation; and Aliyu Wammako, Local and Foreign Debts. Others are Constitutional...

Senate Investigates Development Bank Loan Disbursement of N483 billion The Senate has revisited an alleged uneven disbursement of intervention loans to the tune of N483bn by the Development Bank of Nigeria shared among the six geopolitical zones in the country. The Senate in a bid to...

Reps Concur With Senate, Extend Limit On CBN Loans   The House of Representatives has approved an amendment to the Central Bank of Nigeria Act, raising the ceiling of Ways and Means advances from the apex bank from 5 to 15 per cent. The House gave the...

Experts Says Senate’s N22.7tn Loan Approval May Raise Bond Rates The securitisation of the Central Bank of Nigeria’s N22.7tn Ways and Means advances to the Federal Government by the Senate may push the interest rates of future debt securities higher, capital market analysts have said. The...