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The Punch

Senate Grills Finance Minister Over Subsidy Savings and Debt Servicing Allegations.

The Senate grilled Finance Minister Wale Edun over the amount saved by removing fuel subsidies and the government's debt servicing, with lawmakers seeking clarification on the financial implications of the policy change. The minister was called to account for the actual savings and expenditure since the subsidy removal.

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The Punch

Nigeria's General Hydrocarbons' Accounts Frozen Over $225m Debt Dispute with First Bank

General Hydrocarbons' accounts have been frozen by the Federal High Court in Lagos amid a $225m debt dispute with First Bank, according to a Mareva injunction granted against all commercial banks and financial institutions operating in Nigeria. The order restricts banks from releasing money or assets until the dispute is resolved.

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