Barely two days after the Nigerian Electricity Regulatory Commission (NERC) approved increase of electricity tariff for customers under the Band A classification, the Federal Government has hinted that a similar measure would be extended to others. Speaking at a briefing in Abuja on Friday, Minister of Power, Adebayo Adelabu, said the recent increase in electricity … Read more
Zenith Bank Plc, one of Nigeria’s leading banks, has named Dame (Dr.) Adaora Umeoji as its next Group Managing Director/Chief Executive Officer. She succeeds Dr. Ebenezer Onyeagwu, whose five-year stint as GMD/CEO has ended. According to a statement made by the bank on Tuesday, her nomination as GMD/CEO is consistent with the bank’s succession plan. … Read more
The Federal Government, FG, has asked cryptocurrency trading firm, Binance, for information on its top 100 users in Nigeria as well as all transaction history for the past six months. According to the Financial Times, the request was made to establish the negotiations between Binance and Nigeria. In the report, the Office of the National … Read more
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says that for the first time in a long while, Nigeria’s volume of transactions in the exchange market rose to $800 million. He stated this while addressing members of the House of Representatives at the sectoral debate on the economy. “We are not a … Read more
The Federal Government, FG, through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National Integrated Power Projects at a cost of about $1.15bn, it was gathered on Tuesday. Although sources familiar with the development explained that the cost of the plants should exceed $5bn … Read more