FAAC: FG, states, LGAs shared N990bn as allocation in December — up by N88bn
The Federation Account Allocation Committee (FAAC) says it shared N990.189 billion among the three tiers of government in December 2022.…
World Bank cuts Nigeria’s growth forecast to 2.9% amid insecurity, underperforming oil sector
Having cut Nigeria’s projected growth in its Nigeria Development Update to 3.1 per cent from 3.8 per cent last year;…
CBN threatens to penalise banks that fail to load new naira notes in ATMs
The Central Bank of Nigeria (CBN) has threatened to penalise commercial banks who fail to comply with the directive of…
Naira Redesign: Anger, agony as banks stick to old notes
Almost one month after the release of the newly redesigned N200, N500 and N1,000 notes and few weeks before sunset…
Electronic transactions in Nigeria hits 3.5bn, ranked 6th globally
Following various policies by the Central bank of Nigeria (CBN) to boost cashless economy, analysts have noted that electronic transactions…
Nigeria’s next president to inherit N77trn debt, says DMO
Patience Oniha, Director-General, Debt Management Office (DMO), says the incoming administration would inherit about N77 trillion as debt by the…
World Bank approves $30b to tackle food insecurity
The World Bank has approved $30 billion to resolve food crisis in 15 months. The project will cover areas such…
Goldman Sachs forecasts slow global economic growth at 1.8% in 2023
Goldman Sachs, a multinational investment bank, projects that global economic growth will slow next year. The firm’s projection contained in…
Lagos picks preferred bidder for Fourth Mainland Bridge construction
Lagos picks preferred bidde-CRCCIG Consortium as the preferred bidder for the construction of the Fourth Mainland Bridge (4MB) project. Ope…
Ajaokuta Steel Company ready for concessioning, will generate $1.6bn annually’ — Buhari
President Muhammadu Buhari says the Ajaokuta steel company is ready to be concessioned to private investors. Buhari disclosed this while…