The Central Bank of Nigeria, CBN, has asked banks to suspend cash deposit charges until September 30, 2024. The central bank announced this in a circular dated May 6, 2024, signed by Adetona Adedeji, Director of Banking Supervision. Customers of various Deposit Money Banks expressed concern that the banks had begun collecting processing fees for … Read more
President Bola Tinubu has appointed a new board of National Insurance Commission (NAICOM). A statement signed by the spokesman of the President, Ajuri Ngelale, on Friday, said Halima Kyari was named as chairperson of the new board. READ ALSO : Tinubu appoints new chairman, DG, board members for SEC (+FULL LIST) The statement reads : … Read more
The leadership of the National Union of Electricity Employees, on Sunday demanded a reversal of the recent increase in electricity tariffs. The union, in a statement signed by its National President, Mr. Adebiyi Adeyeye, said the body would not hesitate to withdraw its members that would be used by distribution companies to impose the new … Read more
The Federal Competition and Consumer Protection Commission (FCCPC) has called on the Nigerian Electricity Regulatory Commission (NERC) not to allow Distribution Companies (DisCos) to migrate unmetered consumers to a higher tariff band. The FCCPC, which commended the decision of NERC to impose N200 million fine on Abuja Electricity Distribution Company (AEDC) for infractions in the … Read more
The Ibadan Electricity Distribution Company (IBEDC) has downgraded 27 feeder areas from Band A. IBEDC said the feeders formerly under Band A, have now been downgraded to Band B, C, D, or E. The electricity distribution company released the list of the downgraded feeders and their daily power supply in a Saturday statement. Band A … Read more
The Nigerian Electricity Regulatory Commission (NERC) has given 11 electricity distribution companies till April 11, 2024, to refund customers wrongly billed at the new tariff rate. This was contained in a document signed by Mr Abba Terab, the DGM, Market Competition and Rates for the commission and made available on Saturday in Lagos. The refund, … Read more