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Economy

6 states in financial mess as FG deducts N32bn debt

Six states have been thrown into a serious financial mess after the Federal Government de­ducted the sum of N32 bil­lion from the monthly al­locations of some indebted states in the federation. The money was deducted from the allocations of states from the Federation Account in the month of April 2016 …

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El-Rufai Attacks CBN, says It’s Destroying Jobs

Kaduna state governor, Mallam Nasir El-RufaiKaduna state governor, Mallam Nasir El-Rufai

The Kaduna State Governor, Nasir el-Rufai, wednesday decried the Central Bank of Nigeria’s (CBN) prevailing fiscal regime, saying the bank’s 14 per cent monetary policy rate has led to massive job losses in the country. El-Rufai said the CBN risked losing its power to set lending rates for commercial banks …

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How we Spent Part of $12.9bn NLNG Dividend : NNPC

NNPC

The Nigerian National Petroleum Corporation (NNPC) on Tuesday finally provided clarification on how part of the $12.9 billion dividends it received from the Nigeria Liquefied Natural Gas (NLNG) Company Ltd over an eight-year period on behalf of the federation was spent. The corporation also said the balance of the dividend …

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