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Transgrid Enerco Acquires 60% Stake in Nigeria’s Second Largest DisCo

Transgrid Enerco Limited, a consortium comprising Stanbic IBTC Infrastructure Growth Fund (SIIF), North-South Power Company Limited (NSP), and Axxela Limited, has acquired a 60 percent equity stake in Eko Electricity Distribution Company (Eko DisCo). BusinessDay’s findings showed the transaction represents the first market-driven…
22/01/2025

Telecoms Subscribers Association Rejects Tariff Hike

Telecoms subscribers association has rejected the hike in tariffs which they described as unacceptable. The Nigerian Communications Commission (NCC) had on Monday approved a 50% tariff increase for telecom operators in the country following calls by the Association of Licensed Telecommunications Operators of Nigeria (ALTON)…
21/01/2025

Company Registry: CAC Trains Staff on Compliance, Enforcement

The Corporate Affairs Commission, CAC, has conducted an in-house training for hundreds of its staff across the country on formalising businesses and enhancing post-incorporation compliance. The training, which took place on Monday in Abuja, came under the theme: ‘Re-engineering the Commission for Compliance…
21/01/2025

World Bank Debars Two Nigerian Companies, CEO for Fraud

The World Bank Group has imposed a 30-month debarment on two Nigerian companies, which are Viva Atlantic Limited and Technology House Limited, alongside their Managing Director and Chief Executive Officer, Mr. Norman Bwuruk Didam. According to a press statement by the Washington-based bank…
21/01/2025

NCC Approves 50% Tariff Hike For Telcos

Telephone subscribers in Nigeria will pay more for data and airtime as the Nigerian Communications Commission (NCC) on Monday approved a 50% tariff increase for telecoms operators in the country. In a statement, a spokesman for the regulator Reuben Muoka said the price…
21/01/2025

Why Dangote Refinery Increased Petrol Price — Official

Dangote Refinery has said that the recent adjustment in the company’s ex-depot price of petrol “is directly related to the significant increase in global crude oil prices”. The company assured Nigerians that three of its partners will sell petrol for ₦970 per litre…
20/01/2025

CBN Targets 70% Improvement in Payment Turnaround Time

The Central Bank of Nigeria (CBN) said it is targeting a 70 per cent improvement in its payment turnaround time with the launch of ministries, departments and agencies (MDAs) Naira Payment Solution. The bank said yesterday that the MDAs Naira Payment Solution is…
17/01/2025

Eterna Plc Announces Adeosun As New MD/CEO

The Board of Directors of Eterna Plc has appointed Olumide Adeosun as the new Managing Director/Chief Executive Officer of Eterna Plc. According to a statement issued on Thursday by the Company’s Secretary/Legal Adviser, David Edet, the appointment will take effect on February 3,…
17/01/2025

Nigeria’s Headline Inflation Rises To 33.95 In May

Nigeria’s inflation rate increased to 33.95 per cent in May 2024, the National Bureau of Statistics disclosed in its latest data. This represents an increase of 0.26% points when compared to the April 2024 headline inflation rate, according to the NBS Consumer Price…
16/06/2024


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