FG seeks single-digit interest loans for power firms

FG seeks single-digit interest loans for power firms: The FG wants the central bank and the National Pension Commission (PenCom) to provide funds at single-digit interest rates for the financing of electricity projects across the country, the permanent secretary, federal ministry of power, Godknows Igali, has said. According to Igali, the government has already commenced talks with the two financial institutions with the aim of getting affordable loans for investors in the power sector in order to boost the supply of electricity. (Source: Punch)

TSA – 300 MDAs yet to comply, says FG: The FG on Tuesday said that about 600 out of its 900 ministries, departments and agencies had so far complied with the directive on the Treasury Single Account (TSA). This means that about 300 of the MDAs missed the September 15 deadline set by the government for all the MDAs to comply with the new policy. The accountant-general of the federation, Ahmed Idris, while giving an update on the exercise shortly after this month’s Federation Accountant Allocation Committee meeting, said the process of compliance was slow at the beginning owing to teething problems. He said despite the challenges at the beginning the exercise had recorded huge success. (Source: Punch)

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