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public finance

Cross River Uncovers Over 2,000 Suspected Ghost Workers In Payroll Audit

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Government Flags Major Payroll Irregularities THE Cross River State Government has uncovered more than 2,000 questionable payroll records following an ongoing verification exercise aimed at sanitising the state’s wage structure. The discovery includes invalid Bank Verification Numbers (BVNs), duplicate entries, and suspected ghost workers, particularly within the State Universal Basic Education Board (SUBEB). Audit Designed […]

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Africa Owes Less Than The World Thinks—So Why Does It Pay So Much To Borrow?

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Africa’s Debt Burden: A Costly Problem Hidden Behind the Numbers Understanding the Real Debate FOR years, discussions about Africa’s economic future have often been framed around a single issue: debt. Headlines frequently portray the continent as heavily indebted, creating the impression that Africa is one of the world’s largest borrowers. Yet a closer examination of […]

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The Debt Question: What Exactly Is Nigeria Borrowing For?

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By ROSAMARY GLORIOUS ARIOLE Nigeria’s Expanding Debt Profile and the Search for Measurable Outcomes BEHOLD the growing list of loans accumulated under the current administration. The numbers are large. The projects are numerous. The justifications are often expressed in technical language. And for many Nigerians, the question remains remarkably simple: what exactly are these loans funding, […]

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Beyond Greed: How Poor Wealth Planning Fuels Political Corruption

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By IKING FERRY Financial Illiteracy and the Politics of Survival PUBLIC discourse in Nigeria often portrays political corruption as a simple consequence of greed. Yet a growing body of opinion among financial experts suggests the issue may be more complex, involving inadequate wealth planning, poor financial education, and the absence of sustainable income structures beyond public […]

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Fiscal Year Debate Highlights Transparency Challenges In Nigeria’s Budget System

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Controversy Over Budget Reporting Timelines THE defence by the Budget Office of the Federation over delayed budget reports has reignited debate about transparency and accountability in Nigeria’s fiscal system. At the centre of the issue is whether citizens and stakeholders receive timely and clear insights into government spending. Fiscal Year as a Legal Construct Director-General […]

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Borrowing For Reform Or Risk? Inside Nigeria’s New $1.25 Billion Loan Controversy

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A Fresh Borrowing Plan Under Scrutiny NIGERIA’S plan to secure a new $1.25 billion loan from the World Bank has triggered renewed debate among economists, policymakers, and opposition figures over the country’s rising debt burden and the direction of ongoing economic reforms. The proposed facility, titled Nigeria Actions for Investment and Jobs Acceleration, is scheduled […]

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FAAC Under Scrutiny: ADC’s ₦800 Billion Allegation Deepens 2027 Political Tensions

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A Controversy at the Heart of Nigeria’s Revenue System NIGERIA’S political climate is becoming increasingly charged ahead of the 2027 general elections, with fresh allegations placing the Federation Account Allocation Committee (FAAC) at the centre of a widening political storm. The African Democratic Congress (ADC) has alleged that about ₦800 billion may have been deducted […]

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Where Is Nigeria’s Money? Fresh Spotlight On Federation Account Leakages

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Mounting Questions Over Nigeria’s Missing Revenue A growing public finance debate has been triggered following claims by legal luminary Olisa Agbakoba that as much as ₦20 trillion may be unaccounted for within Nigeria’s Federation Account system. At the heart of the controversy is the constitutional framework governing public revenue, particularly provisions outlined in Section 162 […]

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Nigeria’s Missing Budget Reports: Transparency Crisis Or Bureaucratic Breakdown?

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When Budget Transparency Goes Silent IN any functioning democracy, the budget is more than a financial document — it is a contract between the government and the governed. It outlines not just what a nation plans to spend, but how accountable its leadership intends to be. In Nigeria, that contract is now under scrutiny. For […]

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Capital Spending Crashes 58% As 2027 Politics Gains Momentum Across States

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Subnational Spending Takes a Sharp Dive CAPITAL expenditure by 26 state governments dropped dramatically by ₦2.19 trillion in the first quarter of 2026, marking a 58% decline compared to the last quarter of 2025. The fall—from ₦3.79 trillion to ₦1.59 trillion—signals a slowdown in infrastructure investment at a time when economic expansion depends heavily on […]

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