Economy

The Asset Management Corporation of Nigeria (AMCON) has taken over the mansion of former Governor of Kwara State, Alhaji Abdulfatah Ahmed, over N5 billion indebtedness. AMCON said that the takeover followed the order of Hon. Justice A.M. Liman of the Federal High Court, Lagos Division, who also ordered the freezing of the Bank Accounts of […]

THE Akwa Ibom State House of Assembly has passed a ₦142.72 billion supplementary budget into law to augment the state’s original 2021 budget. The newly approved budget comprises ₦39.30 billion in recurrent expenditure and ₦103.42 billion for capital projects. The passage followed the presentation of the report by the House Committee on Appropriations and Finance, […]

COMMERCIAL banks in Nigeria collectively earned ₦75.5 billion from account maintenance charges in the first half of 2021 (H1’21), representing a 43% increase compared to ₦52.94 billion recorded during the same period in 2020. This rise in account maintenance fees coincided with a significant growth in electronic banking (e-banking) revenue, which rose by 51% to […]

THE Federal Government of Nigeria has successfully raised $4 billion through a Eurobond issuance, the Debt Management Office (DMO) announced on Tuesday. Originally offering $3 billion, the government increased the amount due to overwhelming investor interest, with orders totaling $12.2 billion—over four times the initial offer. The DMO described the issuance as “one of the […]

THE Delta State Government has expressed its readiness to partner with the Manufacturers Association of Nigeria (MAN) to support youth entrepreneurship and skills development in the state. Governor Ifeanyi Okowa made the pledge on Wednesday when he received executive members of the Edo/Delta Chapter of MAN on a courtesy visit at Government House, Asaba. Governor […]