Archived edition · 22:31 Lagos
Tuesday 6 October
- New articles analysed in today’s runs
- 36
- High-risk articles today
- 4
- Board appointments today
- 2
- Contract awards today
- 4
Key Developments
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Financial Oversight
The House of Representatives is investigating N802 billion in audit breaches involving the NNPCL and INEC, while giving HYPREP a seven-day ultimatum to resolve pending issues ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMipwFBVV95cUxOaXBWRWRWM21rS2p1WTRhQVdJYXfreDlGQW9xeUpwTnRMOVV3SllhUENLX1RJN3NkUmZJaVZfVVoxTEdaWFpRZFNyZUdsYXFlVnpxajVjWVVjbXAtTldFVVFFMkY3YTdvZmJuU2dhS1ltUnk0eXlqNGdSbV9ZNEM3YTJicFBzbTdrNllsRGZ2YnROdDVYbGpaMVZ0Vkl1aVVMVW9MXzhPUQ)).
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Monetary Policy
The Central Bank of Nigeria (CBN) has published updated lending rates for major commercial banks, including Zenith, UBA, and Access Bank ([legit](https://www.legit.ng/business-economy/money/1734543-cbn-releases-access-uba-zenith-gtbank-banks-latest-lending-rates/)).
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Infrastructure & Energy
The Federal Government and Lagos State have formed joint committees to implement a 24-hour power supply framework ([Punch Newspapers](https://news.google.com/rss/articles/CBMifEFVX3lxTE1IeUxWT253M2NuTm14ZS1ycS1EeXBCUWFwTUdhcE5JbTNRTEF0QlN6ejRaTThqSHdaUlpoMWZRaFdPaUwzOVMzYWtHOHk5NUlZWjNNclZxanpjU2JWUkVmSVdKcFU4VFVGWEhoX2Jyb01VV3hmYUU5QzY5YW0?oc=5)).
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Economic Diversification
President Tinubu reported a significant reduction in the nation's fiscal reliance on oil revenues ([Vanguard News](https://news.google.com/rss/articles/CBMipAFBVV95cUxQTHBrVUVTV2d3MjI4OEFuYy1vd3JCcHNZbU9tMkJaeHRLRVBiUmdqZEFRRmJJUnJ3OFYzbE5VLU4zWTlqYTBoQnZueFVkZ3o3OFpUU1RUZUxCRHE2SEJNb1V6ZUtucmt1TFcybnVrR1lzVC1VN3RzY1dmNFkyU2dNWUNTcHEta2JzZG9QZm5UX1Q0dW4tS0MyYWJzLXllOFhlT1dZS9IBqgFBVV95cUxOTmRDM3FmM1BjdHp5MU9mV0lGM09pYTN5enJqNUg0aXp2b1RINjhZdUlvanNRV0NkWXR6cXk4MVZpd09wOG5RYjlMcERRSUlWcVZSWkZlNkdRSEFkQ2NqS3NmdU1PejZvanMtWmEzQzJHOUd5dSJUaU1kNGllTTN2VjNpQ2IzTkFrV0ZMU2Rsb0hGMVVBYkljWDUtaXJMTFR3NUdWUUw2RklnUQ)).
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Other notable updates
include the NPA's efforts to boost non-oil exports, new FGN savings bonds from the DMO, and various state-level educational budget allocations ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMikwFBVV95cUxPU0pJMHF6cE1ad19iTDNvbUhkcURKOUlIekJVV3p3ajcwSmlpLXlKSG1xdkFfMnNYaU8tQW1icVhfYjZHdFFORExIUXV3U0FkQjlmQ2tzWnp2WV9nU3o1STNQQlJiRjZkNTdfbmtwTTl2b2dKLUs0VUdCRERNaHBUNHp2eHozQXExd1RWWTk5a2xhVEk), [theeagleonline.com.ng](https://news.google.com/rss/articles/CBMiiAFBVV95cUxOai02dlR1NzRQZGwwejhhN09UZXZrUHlaQUJrcmlUY0VRdG95ek9rRWNQSkVTRzhzUkttelRCTzA2eXJqVFBoUDVIblQtN1g4TWpwZGU5M2M1RFZuV29zdDZCTVk1SDdEZUNJcDJjUzBhUTk5TEJ4UFYyaGVpNnVSNXRCYkZWc3hi?oc=5), [Premium Times Nigeria](https://news.google.com/rss/articles/CBMiywFBVV95cUxOSDBmUXNtQUFXZ3dHaUNZbXBiZWRCcnY0TGQ1LWNDX2RFVk9SMnpnSWdTZzZpNGdzN1dMY01WNVdKZHF0QnZlY0JzUXRtS2diQmRZTzJKQWxhS01CYjg4SXRoVURaajRoYjZseWNFeG1VZ2pZWjNWanBfLTdSM3pYaEp0SU16NWZMYXBwRHdfS0FSLXBmQ2IzV2ZVT3pkQlh1VWlldDE0ZUhEX2U3b19aNUpWV3dTdkxSdW9oN0NXXzd3T0IwRUxCaVotSQ)).
High Risk Alerts
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Public Fund Diversion (Taraba)
Testimony reveals that officials under former Governor Ishaku allegedly diverted Local Government subventions and utilized private bank accounts to receive and disburse public funds ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMiygFBVV95cUxQalhRNUNPbHZiWDd2ZFdETTVla1kxT1hoUmZzRnh0VUhjNGNYUTFQYVAzdHhUbWh6aGdDeDJWYUZZTEZRYTBGbjQ5MkloMU5CeGJMQWstX3hoZTM1YmQ3dkE3MkNXR1BLQmVlMmE1VzZvYXpkdmk2SnltRWFzT0NrTVNTSExESV9zX1djUkJ3NHprWlk3N2RYclE2SDhkVG9UWElTcjF1TzNNRmdVcTVJS3JVZmlKaWkwYnpqaGs5TEZ0cGpPYVVtQ3FR), [Premium Times Nigeria](https://news.google.com/rss/articles/CBMi8AFBVV95cUxPMU5xdlRUa2ZwQ3lKcUFPcTVXNjFncTdscDRqRU13bG5KOE1EZzlqODNGQS1zRVhRblloMmpGSUpvdTdkTVlSUVZ4Tl85amNfamtGb1Zvc2szMUhiVzFRZnptQlAxNVB1OWdFUjBjV2I5NkN0bHZCUTQ5bzgzbHl4cTFKU0szX04yNUIyZlZ5RFh3NHhWeERQVUJpS3dzdnZNVktYay1vQnM3c3R0WHkzWXg0Y3E0bzU0SUpERzVrUWNKZ0h6U1ZBVHptU0c1N2wtZklFaXJ4NU0yeUZKS2tCekY5TldqSjdBVWU4QWVjZlo)).
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Unauthorized CBN Withdrawals
Court proceedings indicate the Ministry of Finance was unaware of a N124.86 billion withdrawal from the CBN linked to former Governor Godwin Emefiele ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMiqwFBVV95cUxOVnpkV0dUckNjM0owTUxJejBXdjQ5V2kzRDJxR0pfX0lsbndvaC1FVUs1c3Zma0FFeUowTWROc1JTSjBhaWgwQmNzNVNYa0tjT1paaUVXbUFSenppWENQRFlTem9FM1BnS2poNHpPTjRlamx1Y0p4Y0h6ZnJNUUxVam1iNzdzZUdhRm5ENXpCbG1wQWp5VVQxckU1SHYteDE4emg1TTBBSDdFTFU)).
Beneficial Ownership & PSC Disclosures
No persons with significant control were identified in the provided data.
Procurement & Board Changes
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Appointment
The West African Examinations Council (WAEC) has appointed a new head for its Nigeria office ([Punch Newspapers](https://news.google.com/rss/articles/CBMieEFVX3lxTE1meHdjdTFqLUZVcUZ3T0Y0c1lkaXdERmozVW9ZVTBENzlsT2dWNlpHSW14cXlwVHlxWmZobVBXN0Nwc0VPZTNZTnVLNzBZcndPdGp4cU8xcmoxWll2VzZoRG55Z2M5X0Fvd3laazBseDF3OW9NRUdTYw?oc=5)).
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Infrastructure Contract
The Federal Government has ordered a Chinese construction firm to rebuild the second runway at the Abuja airport ([The Eagle Online](https://news.google.com/rss/articles/CBMirAFBVV95cUxPc2NsYkVKaEJLSm9PODcyLVp6a2g3ajVXYnp2NWV3aWRoM1dIb0hDNnJXaWxYV0lmUnFyXy15ajIzY3Jna2p2X1lFaVkyTUJyZTRVYmxHQ3BiZFdxTENvTE5JNUdabzNQYkVfRUNLNzVoYkhvN2hhMmRmeHNLaXZRSl9ObkpQQmNfZTFOMVlzYlI4VDVWYy1VUjVZS0VoOVYySlhVbV9peHd2MTVX)).
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License Revocation
LAWMA has withdrawn the operational licenses of six waste operators in Lagos ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMiswFBVV95cUxPRUlSRVpIZHNwMkFhRnVNaEJqdkIyN1ZNN2l1ZmFTbDVlUk54aVB4ZDhyTUVqU0ptR3BFMnhOWjcwUW5GSjlpYXk1ZHlJZ1ByaFhKMnlDMHhkT3hOQ1ZhaXBsMUJYMnNyMkRTSlU0WUlJcDZlOGFDQmVoVHQ0UkJuTHI0WnFtV0Jxb1hYMUdlVVU5UkxLVE1VbUh0VVlfdzRuZ292NW9LSXVIWEoyYXZfSnRqbw)).