In a move aimed at providing relief to its customers, Ikeja Electric Distribution Company (IE) has announced a significant reduction in electricity tariff for customers under Band A category. Effective May 6, 2024, customers in this category will now pay N206.80/kWh, down…
FG Cracks Down On Illegal Crypto Traders
The Securities and Exchange Commission (SEC), Monday, vowed to act decisively to uphold the integrity of the capital market and protect the interests of all investors. It said this is aimed at ridding the virtual assets space of illegal trading…
Businesses to pay 0.5% cybersecurity levy
All commercial, merchant, non-interest, payment service banks and other financial institutions, among others got a directive from the Central Bank of Nigeria (CBN) to activate the payment of 0.5 per cent on some electronic transactions. Others who got the CBN circular yesterday,…
Annual Meetings 2024: Reforming the global financial architecture to free up financing for Kenya and in Africa overall
“Today, Africa has $640 billion in outstanding debt and pays nearly $70 billion in interest every year. It would only be fair for us to have a financing mechanism that treats us on an equal footing”. Kenyan President William Ruto’s…
Naira slumps against Dollar at foreign exchange market
The Naira has resumed depreciation against the Dollar in the foreign exchange market. FMDQ data showed that the Naira depreciated to N1402.67 per Dollar on Thursday from N1,390.96 on Tuesday. This represents an N11.71 loss compared to the N1,390.96 recorded…
NUPRC Set To Hand Over ExxonMobil Asset To Seplat In 2 Weeks
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) commission chief executive, Gbenga Komolafe, has said an asset sale deal between ExxonMobil and Seplat would be concluded in the next two weeks. The final approval expected from the oil regulator would end…
APM Terminals Confirm Plans To Invest $500 Million In Port Upgrade
APM Terminals, Nigeria’s largest logistics terminals, says it has concluded plans to invest over $500 million in the upgrade of the nation’s port facilities. It said this is outside the $600 million it injected in the acquisition of equipment, including…
‘To Facilitate Purchase Of Cars, Houses’, Tinubu Approves Credit Scheme Takeoff
Working Nigerians interested in receiving consumer credit can visit CREDICORP’s website to express interest before the deadline date of May 15, 2024. President Bola Tinubu has approved the takeoff of the first phase of the Consumer Credit Scheme to facilitate…
$20bn Dangote Refinery: High sulphur diesel narrative false, mischievous —Spokesman
THE Management of Dangote Industries Limited has condemned an online report doubting the quality of its diesel. The Dangote Group described the allegation as false, baseless, and mischievous, stressing that its refinery is designed to produce the highest quality petroleum…
PICTORIAL: Inside the most expensive school in Nigeria
Inside Charterhouse Lagos, A newly commissioned primary school in Lekki with its secondary school underway that charges N42m as a fee per annum. Charterhouse Lagos is the first British independent school in West Africa and part of the prestigious Charterhouse…