Wednesday , April 17 2024

Economy

Betta Edu probe: EFCC recovers N30bn, says 50 bank accounts under investigation

EFCC

The Economic and Financial Crimes Commission (EFCC) says it has recovered N30 billion from the investigation of Betta Edu, suspended minister of humanitarian affairs. On January 8, President Bola Tinubu suspended Edu and directed the EFCC “to conduct a thorough investigation into all aspects of the financial transaction” involving her ministry. The …

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Nigeria gets Afreximbank’s $1bn loan in May

Loan

Nigeria is set to receive a $1.05bn syndicated loan backed by oil from the African Export-Import Bank next month. The loan is part of a larger $3.3bn prepayment facility arranged by Afreximbank, with repayment terms tied to crude cargoes from the Nigerian National Petroleum Company Ltd. According to Bloomberg, Afreximbank’s …

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