The Federal Government has concluded plans to borrow $7.9bn (about N1.89tn) for the funding of pipeline projects in the country. In two separate letters to the Senate and the House of Representatives on Tuesday, President Goodluck Jonathan said the borrowing would cover pipeline projects captured in the 2012 to 2014 […]

The Asset Management Corporation of Nigeria on Tuesday said it had recovered a total of N600bn from bank debtors. The Managing Director, AMCON, Mr. Mustafa Chike-Obi, disclosed this on the sidelines of the Bankers’ Committee meeting held in Lagos. “We are recovering the debts at a faster rate than expected. […]

Citigroup Inc has agreed to pay $158.3 million to settle U.S. civil claims that it defrauded the government into insuring thousands of risky home loans made by its CitiMortgage unit. Wednesday’s settlement resolves claims under the federal False Claims Act against the third-largest U.S. bank, and arose from a “whistleblower” […]