Changes in industry conditions can alter a company's credit rating long before the impact appears in its financial statements. DataPro, a leading compliance, corporate governance, and fraud risk management consulting firm in Nigeria, said this in its July Rating Brief. According to the firm, credit assessments go beyond historical financial performance by evaluating how industry …
The revocation of the licenses of 46 microfinance banks by the Central Bank of Nigeria (CBN) could significantly disrupt access to financial services for rural communities, women, and small businesses. A senior Shariah analyst, Imam Nma Shuaib, raised the concern, lamenting that the decision would significantly affect Kano State unless urgent measures are taken to …
A Federal High Court in Abuja has fixed July 10 to deliver judgment in the suit filed by the Economic and Financial Crimes Commission (EFCC) seeking the final forfeiture of 57 properties allegedly linked to former Attorney General of the Federation and Minister of Justice, Abubakar Malami. The case came up on Monday before Justice …
The Senate is expected to address the controversy surrounding the alleged Presidential Foreign Intervention Promotion Council (PFIPC) when plenary resumes on Tuesday, following growing concerns over a N1.3 billion allocation to the council in the 2026 Appropriation Act. The controversy has intensified after the presidency maintained that the council was never lawfully established, raising questions …
The Office of the Accountant-General of the Federation (OAGF) has said the controversial Presidential Foreign Intervention Promotion Council (PFIPC) has neither an operational account with the Central Bank of Nigeria (CBN) nor received any public funds, despite being listed with a ₦1.3 billion allocation in the 2026 appropriation act. The clarification comes amid growing concern …
The Federal Government has dismissed claims that it spent more than ₦8 trillion outside the approved budget, insisting that all public expenditure is authorized under the Constitution and laws passed by the National Assembly. In a statement issued on Sunday, the minister of finance and coordinating minister of the economy, Taiwo Oyedele, said recent public …
The government says renewable energy is now central to Nigeria's power strategy as new solar mini-grids energize homes, businesses, schools, and farms, with the promise of improved national electricity supply before year-end. The Federal Government has completed 23 solar-powered mini-grid projects that are now delivering electricity to about 50,000 Nigerians in a major push …
A member of the Imo State House of Assembly representing Okigwe Constituency, Samuel Chidiebere Ogbunikpa, has called on Governor Hope Uzodimma to urgently strengthen the state's emergency response system by establishing functional fire service stations and rehabilitating the dilapidated Okigwe Fire Station following the recent fire outbreak at Eke Okigwe Market. Ogbunikpa made the appeal …
Nigeria has been removed from the European Union's list of high-risk third countries for money laundering and terrorism financing, with the Nigeria Financial Intelligence Unit (NFIU) attributing the development to sustained government reforms, stronger law enforcement, and improved inter-agency collaboration. The Head of Strategic Communications at the NFIU, Aishatu Bantam, disclosed this on Thursday during …
A federal government delegation has visited the Bille community in the Degema Local Government Area of Rivers State following a gas seepage incident, delivering immediate humanitarian aid and promising a comprehensive technical solution to the environmental crisis. The delegation, led by the Minister of State for Petroleum Resources (Gas), Senator Ekperikpe Ekpo, and the Commission …
