Tag: Nigeria Business Now

Elumelu’s Transcorp Consolidates its Power Play, Acquire 60% Majority stake in AEDC

Elumelu’s Transcorp Consolidates its Power Play, Acquire 60% Majority stake in AEDC   In a strategic move to consolidates Transcorp’s position in the Nigerian power sector, Christopher Ezeafulukwe, Managing Director/CEO of Transcorp Power Limited, has been entrusted by the Board of the Abuja Electricity Distribution Company (AEDC) to lead the[Read More…]

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Nigeria’s Inflation Hits 24.08% As Food Prices Rise

Nigeria’s Inflation Hits 24.08% As Food Prices Rise     Nigeria’s annual inflation rate rose to 24.08 per cent in July from 22.79 per cent in the previous month, the National Bureau of Statistics (NBS) said Tuesday. The NBS said on a year-on-year basis, the headline inflation rate was 4.44[Read More…]

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Ecobank To Promote Ease Of Cross-Border Business Through Foreign Currency Transfer On Its Mobile And Omnilite Apps

Ecobank To Promote Ease Of Cross-Border Business Through Foreign Currency Transfer On Its Mobile And Omnilite Apps   Ecobank has reiterated that the introduction of Foreign Currency transfer on Ecobank Mobile and Omnilite app is to promote and facilitate ease of cross-border business and financial transactions, stressing that it would[Read More…]

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CBN reveals loan to FG rose to N23.18trn

CBN reveals loan to FG rose to N23.18trn The Central Bank of Nigeria (CBN) has published its financial report for the year ended December 31, 2022, almost two weeks after President Bola Tinubu appointed Jim Obazee, ex-CEO of FRC as special investigator to investigate the bank. The published report revealed[Read More…]

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Prepaid meters’ installation rises 3.9% to 171,107

Prepaid meters’ installation rises 3.9% to 171,107   Despite the federal government promises, the sluggish growth in the number of prepaid meters installation persisted in first quarter 2023, Q1’23, with number of meters installed rising by quarter-on-quarter, QoQ by 3.95 per cent to 171,107 from 164,612 meters installed in the[Read More…]

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