Nigeria to allow banks to write-off some bad loans this year

Nigeria’s central bank is to allow banks to write-off bad loans this year that they have already made provisions for to help them to clean up their balance sheets. Pressure has been building on the country’s banks, whose loan books have been hit by Nigeria’s shrinking economy, plunging currency and foreign exchange shortages following the Read more

Buhari to revamp ‘war against indiscipline’ brigade

Nigeria said Tuesday it is reviving a “war against indiscipline” campaign in a reincarnation of President Muhammadu Buhari’s strict social crusade when he served as military ruler over 30 years ago. Buhari initiated the so-called war against indiscipline brigade to tackle corruption and moral turpitude in the West African country after seizing power in a Read more

Police begins Budget Padding Probe get three versions of budget

The police yesterday retrieved three versions of the budget from ousted House of Representatives Appropriations Committee chairman Abdulmumin Jibrin as probe of his allegation of padding began. The Special Investigation Panel (SIP) has started sieving the documents to isolate the padded areas, it was learnt. Jibrin petitioned the police, the Economic and Financial Crimes Commission Read more