The Central Bank of Nigeria (CBN) has been indicted by the Office of the Auditor-General for the Federation (OAuGF) for failing to remit over ₦4.304 trillion to the Federation Account. According to the 2022 audit report by the OAuGF, the apex bank was listed alongside the Nigerian National Petroleum Company Limited (NNPC Ltd.), the Nigeria …
The Bureau of Public Enterprises (BPE) recently hinted at a plan to list two electricity distribution companies (DisCos) and one generation company (GenCos) on the Nigerian Exchange (NGX). Similarly, the Nigerian National Petroleum Company (NNPC) Limited has been nursing this idea since the state-owned oil firm transitioned into a private-driven enterprise. As desirable as their …
President Bola Tinubu has directed the Minister of Works, David Umahi, to reserve all Nigerian National Petroleum Company (NNPC) Limited tax credit road contracts below N20 billion exclusively for indigenous contractors. The order restricts the minister from awarding any of such projects to expatriate firms. Umahi made this known in a statement, hinting that the …
A sweeping directive from the Minister of the Federal Capital Territory (FCT), Nyesom Ezenwo Wike, has sent shockwaves through Abuja’s highbrow property landscape, as top political figures, judicial icons, and corporate giants face stiff penalties for unauthorised property conversions. The Federal Capital Territory Administration (FCTA) announced on Monday, September 8, 2025, that property owners who …
The recent hike in the price of Compressed Natural Gas (CNG) to N380 per standard cubic meter (SCM), from N230, raises concern about the Federal Government's plans to adopt CNG to cushion the impact on transport costs and economic hardship faced by Nigerians. This signifies a 65.22 per cent hike or N150 increase in the …
The Senate has summoned NNPCL’s Group CEO, Bayo Ojulari, to explain why the company has yet to account for N210 trillion flagged in the Auditor-General's 2017–2023 report. Senator Aliyu Wadada, Chair of the Public Accounts Committee, said the Senate is not accusing NNPCL of theft but demanding transparency in line with its oversight mandate. "We …
