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FG cancels $717.7m World Bank...

The Federal Government has cancelled $717.7 million...

Former NEXIM bank MD Robert...

Former NEXIM bank MD Robert Orya jailed...

FG cancels $717.7m World Bank Power Sector loan amid reform setbacks

The Federal Government has cancelled $717.7 million in undisbursed World Bank intervention funds meant to support reforms in Nigeria’s troubled electricity sector. The decision followed a formal request by the Federal Government and a joint agreement with the World Bank to discontinue financing under the Power Sector Recovery Performance-Based Operation after key reform targets failed to materialise amid changing realities in the sector. Documents obtained from the World Bank showed that the cancellation affects the remaining balance of a broader $1.52 billion power sector recovery programme. “The restructuring will result in the...
Abdullahi Mustapha Haruna -
Entertainment

Determination: Bank security...

A Nigerian banker has narrated via his Facebook handle where he is known as Ayomide Babalola-mr Flow, on how God used him to elevate a...
Salim Sani -
Business & Economy

Islamic Banking Alumni...

The members and National President of Alumni, International Institute of Islamic Banking and Finance (IIIBF), Bayero University Kano, on Thursday paid a courtesy visit...
Maryam Umar -
Business & Economy

CBN Policies: 3...

Three chief executive officers of banks who are board members of the Nigeria Economic Summit Group (NESG) have pulled out yesterday over the group’s...
Salim Sani -
Law

Alleged Salary Fraud:...

Neptune Prime Network Limited, publishers of Neptune Prime online newspaper, has written to the management of First City Monument Bank Plc seeking clarification on...
Maryam Umar -
Crime

US Govt arraigns...

Eleven Nigerians have been arraigned by the United States government for alleged $6 million bank fraud, following its recent sanctions of six Nigerians for...
Maryam Umar -
North East

“When I was...

In modern-day Nigeria, Borno is referred to as Home of Peace. Its history is synonymous with statecraft, Islam and scholarship. When Kanem Borno was relating...
Aisha Auyo -
Crime

IGP orders manhunt...

The Inspector-General of Police, IGP Mohammed Adamu, has ordered a full-scale manhunt for the perpetrators of the attack on Isanlu Police Station and a...
Aisha Auyo -
Business & Economy

Fidelity Bank plans...

Fidelity Bank yesterday night announced a plan to close all its branches in Lagos, Ogun and the Federal Capital Territory Abuja for 14 days...
Gift Luckson -
Local

Banker narrates how...

The banker said he was instructed by one of his superiors to move the money from Fayose's house to a Zenith bank branch in...
Aisha Auyo -
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