Electricity Tariff: Govt can’t afford to pay subsidies – Adelabu Adebayo Adelabu, minister of power, has said the federal government could not afford to pay subsidies on power anymore due to the high indebtedness owed by the generating company. The Minister appearing before the senate committee on[Read More…]
Forex: CBN banned 4 Fintechs from onboarding new customers The Central Bank of Nigeria (CBN) has issued a directive to four fintech companies, directing them to stop signing up new customers pending further notice. The affected fintechs are Opay, Palmpay, Kuda bank, and Moniepoint. The four Fintechs have[Read More…]
FG announces $10bn Diaspora Investment Fund The federal government has announced plans to set up a $10 billion diaspora fund to attract investment from citizens living abroad. In a post on X on Thursday, Doris Uzoka-Anite, minister of industry, trade and investment, said the federal government is seeking bids from[Read More…]
Dangote refinery ranked above 10 biggest European refineries A financial data and media company, Bloomberg, has ranked the Dangote Refinery above the top 10 biggest refineries in Europe. According to data compiled by the business news platform, the refinery has more capacity than many European ones. The $20bn-worth[Read More…]
Delta to commence Lagos-New York flight United States carrier, Delta Air Lines, has said it will commence a daily service to Lagos from New York from December 1, 2024. The airline in a statement also announced that its service enhancement to Accra, Ghana, and South Africa is underway[Read More…]
Standard Chartered Bank Nigeria Appoints Ajene as New CEO Standard Chartered Bank has announced the appointment of Dalu Ajene is the Chief Executive Officer of the bank’s operations in Nigeria. Ajene takes over from Lamin Manjang, the Vice Chairman Africa and Acting CEO who will be retiring from[Read More…]
FG, Bill Gates propose digital identity platform to boost tax collection Bill Gates, former chief executive officer (CEO) of Microsoft, has said he is working with the federal government (FG) on an identity technology platform for easy tax collection. Gates disclosed this during a meeting with President Bola Tinubu[Read More…]
Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment … as FG endorses consolidated guidelines Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy, presided over a signing ceremony at the Federal Ministry of Finance headquarters[Read More…]
Fidelity Bank: Improved Share Price as Growth Indicator When the management of the Nigerian Exchange Limited (NGX) in July 2023 announced that it was reclassifying Fidelity Bank Plc from small-price stock to medium-price stock, financial analysts concluded that the road to attaining Tier1 status by the bank is closer[Read More…]
FCCPC intervenes in DSTV, GOTV price increase controversy The Federal Competition and Consumer Protection Commission (FCCPC) has intervened in the recent price hike of DSTV and GOTV subscriptions, saying it will be reviewed. Recall that DSTV and GOTV hiked their subscription prices by 25 percent with effect[Read More…]
