The federal government is set to forfeit $10 million from a World Bank credit facility due to shortcomings in audit quality, delays in launching a national budget portal, and the slow rollout of a revenue assurance system. The fund is part of the $103 million Fiscal Governance and Institutions Project (FGIP), which is financed by the International Development Association (IDA), a World Bank lending arm. The project, aimed at strengthening public financial management, is scheduled to close on June 30, 2025. According to a June 2025 restructuring paper addressed to…
Read MoreAudit Shortcomings, Delays Cost Nigeria $10m from World Bank Loan
