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Okonjo-Iweala: Nigeria Lacks Institutions, Systems, Processes To Prevent Corruption

Nigeria’s Minister of Finance, Dr Ngozi Okonjo-Iweala, said on Tuesday that corruption persisted in the country because Nigeria lacked the institutions, systems and processes...
Business

Arunma Oteh’s SEC, NNPC, Top List of Agencies Stealing Billions of Federal Revenues

As the Nigerian government struggles to raise more money to cushion the impact of a crashing oil price, a federal regulator has confirmed how...
Business

FAAC: FG, States, Councils Share N593.33b For October

The Minister of State for Finance, Bashir Yuguda, on Tuesday announced that federal, states and local governments had shared N593.33 billion revenue that accrued...
Business

Nigeria Finance Minister Says Oil Bill Unlikely To Pass Before 2015 Poll

Nigeria's long-awaited Petroleum Industry Bill (PIB) is not expected to be voted on by parliament before a planned general election in February 2015, the...
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Bank of Tokyo-Mitsubishi Fined $315m

Bank of Tokyo-Mitsubishi (BTMU) has been fined $315m (£200m) by US authorities for watering down a report about transactions involving Iran and other sanctioned...
Business

Egypt To Repay Debts To Foreign Oil Companies Within Six Months

Egypt plans to repay all of the $4.9 billion debt owed to foreign oil and gas companies within six months, the oil ministry said...
Business

Odinkalu, Others Sue CBN for N65 ATM Charge

Three Nigerians have filed a suit against the Central Bank of Nigeria, CBN, for its recent decision to reintroduce charges on cash withdrawals from...
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