EFCC Drags Honeywell Chairman, Otudeko, Ex-FBN MD to Court for Alleged Theft of N12.3bn
The Economic and Financial Crimes Commission (EFCC) has filed a 13-count criminal charge against the Chairman, Honeywell Group, Chief Oba…
Category: Finance
FG, States, LGs Share N1.411trl for October Amid Dwindling Economic Fortune
The Federation Accounts Allocation Committee (FAAC), has shared N1.411 trillion among the Federal Government, States and Local Government Councils (LGCs)…
Sale Of Heritage Bank Assets Begins December 4, Says NDIC
The Nigeria Deposit Insurance Corporation (NDIC) says the sale of Heritage Bank’s assets will begin on December 4, 2024. This…
Lagos, Edo, Kaduna Most Highly Indebted Dollar States in Nigeria as States’ Domestic Debts Surge
Sub-national governments continued to grapple with a persistent reliance on borrowing to finance their budgets in 2023, as the total…
Appeal Court Sets Aside Fubara’s N800bn Rivers 2024 Budget Passed By Edison-Ehie Group
The Court of Appeal in Abuja has affirmed the judgment of the Federal High Court which set aside the N800…
Oando Plc Seals $783m Acquisition of Nigerian Agip Oil Company
Oando Plc has completed the acquisition of Eni’s subsidiary, Nigerian Agip Oil Company (NAOC), for $783m. The company announced this…
Rating: GCR Affirms Dangote Industries Limited AA+(NG)/ A1+(NG)
GCR Ratings (GCR) has affirmed the national scale long-term and short-term issuer ratings of AA+(NG) and A1+(NG) respectively accorded to…
CBN Merges Ailing Unity Bank Plc and the Providus Bank
The Central Bank of Nigeria (CBN) has given approval for a pivotal financial accommodation to support the proposed merger between…
Hundreds of Dollars Laundered Out of Nigeria Every Hour, Says Interpol
Money laundering across Africa and the entire world has assumed a monstrous dimension and Interpol has designed Silver Notices to…
AfDB Investments in Nigeria Hits $10.9bn
The African Development Bank (AfDB), cumulative financing approvals in Nigeria stands at $10.9 billion. The Director-General of West Africa Region,…