Inside details of Nigeria’s $29bn borrowing plan

A rare breakdown of how Nigeria intends to spend a $22.7 billion (N6.9 trillion) loan that still awaits approval of lawmakers shows the government will spend over half a billion dollars each year in interest payments for an average of 21 years. The $22.7 billion loan is the final tranche of a $29 billion infrastructure. Click here for more.

Nigeria files fraud allegations in bid to overturn $9bln P&ID award

Lawyers for the Nigerian government on Friday filed “new and substantive” allegations of fraud with a British court in its ongoing fight against an arbitration award now worth more than $9 billion, a spokesman for the attorney general said. Click here for more.

Fowler’s tenure ends, fate hangs in the balance

The tenure of the Executive Chairman of the Federal Inland Revenue Service, Mr Babatunde Fowler, ended on Sunday with no indication that he would get a second term in office. Fowler, who is a childhood friend and former classmate of Vice-President Yemi Osinbajo, was appointed as the FIRS chairman on August 20, 2015. Click here for more.

World Bank Approves 26 Micro Projects In Ogun

In its quest to provide quality social infrastructure and improve the standard of living of the rural dwellers in Ogun State, World Bank has approved 26 micro-projects for immediate implementation in 13 communities in six Local Government Areas of the State. Click here for more.

Misappropriations, economic challenges and $29.6b debt question

In May 2018, the Office of the Auditor-General for the Federation (OAuGF) released Audit report on the financial statements of the Federal Government, with unaccounted monies running into hundreds of billions. Click here for more.

Investors Lose N70.77bn WoW As NSEASI Dips By -0.54% To Close The Week Negative

Equities market closed today on a negative note, as NSEASI depreciated by -0.22% to close at 26,855.52 points as against -0.09% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.56%. Click here for more.

How investors can enable diversification, hedging

Diversification is an investment technique that reduces risk by allocating portfolios among various financial instruments, industries, and other categories. It aims to maximise returns by investing in different areas that would react differently to the same event. Click here for more.

FMBN has low capital base – MD

The Federal Mortgage Bank of Nigeria (FMBN) does not have a strong capital base and this is affecting it’s ability to provide  the low-cost housing in Nigeria. The mortgage bank reportedly has low capital base that is depriving Nigerian workers of affordable housing units. Click here for more.

NCC Considering Spectrum Sharing Regulations

The Nigerian Communications Commission is developing regulations that will allow telecom operators to lease spectrum to one another. The Executive Vice Chairman of the commission, Prof. Umar Danbatta, disclosed this at the Demo launch of 5G Network in Lagos. Click here for more.

Licence threat: Discos’ deadline expires, NERC keeps mum

The deadline issued by the Nigerian Electricity Regulatory Commission mandating the electricity distributors to comply with some industry requirements or have their licences cancelled has expired. Click here for more.

W’Africa Single Currency: A Journey to Nowhere?

Obinna Chima wonders if West African countries can ever meet the target of adopting a single currency in the region, especially with January 2020 no longer achievable. It is almost two decades when the idea of adopting a single currency in West Africa was conceived. Click here for more.