SECTOR INSIGHT

Naira Appreciation, Lower Inventory Release, Reasons For Fare Crash – Nanta

The President of the National Association of Nigeria Travel Agencies (NANTA), Mrs. Susan Akporiaye, has attributed the opening of lower fare inventories by foreign airlines, the rising strength of the naira and the clearing of the backlog of international carriers’ trapped funds…

10/04/2024 0Comments

CBN Bans Foreign Currency Collateral For Naira Loans

The Central Bank of Nigeria, (CBN), has banned the use of foreign denominated collaterals for naira loans. However, Eurobonds issued by the Federal Government of Nigeria or Guarantees of foreign banks, including Standby Letters of Credit, are exempted from the ban. The Central Bank…

09/04/2024 0Comments

CBN Doles Out $10,000 To Over 1,000 BDCs

The Central Bank of Nigeria (CBN) said it has sold a total of $10, 000 to 1, 588 Bureau De Change (BDC) operators to meet retail market demand for eligible invisible transactions. A statement by the apex bank on Monday said the $10,…

08/04/2024 0Comments

Petrol: Oil Marketers Propose N550/litre Price to Dangote

AS the Nigerian National Petroleum Company, NNPC Limited, moves to end petrol scarcity in Lagos and its environs, Dangote Refinery and oil marketers have intensified efforts at taking final decisions on pricing and delivery of petrol to filling stations nationwide. Dangote Refinery, which can refine…

08/04/2024 0Comments

GTBank Customers Groan Over Network Downtime

Nigerian customers of the Guaranty Trust Bank (GTB) are grappling with network downtime, rendering transactions impossible via the bank’s app, USSD or Point of Sale terminals. As observed, the network problem, which started on April 4, 2024, persisted without resolution as at yesterday. Customers…

07/04/2024 0Comments

New Tarrif: NERC Slams N200m Fine On AEDC Over Violation

The Nigerian Electricity Regulatory Commission (NERC) has slammed a fine of N200 million on the Abuja Electricity Distribution Plc (AEDC) over the Disco’s non-compliance with the Supplementary Order to the April 2024 Multi-Year Tariff Order 2024 for power distribution companies (DisCos). NERC disclosed…

05/04/2024 0Comments

New Tariff: AEDC Reports System Glitches, To Refund Excess Charges

The Abuja Electricity Distribution (AEDC) has said that efforts were ongoing to refund erstwhile Band A customers who were charged the new tariff of N225 Per Kilowatt Hour. The management of the power distribution company, in a public notice posted on its X…

05/04/2024 0Comments

FG Increases Electricity Tariff For Band A Customers

The Federal Government has jacked up the electricity tariff for Band A customers. Band A are those who enjoy electricity supply for 20 hours per day. At a press briefing in Abuja on Wednesday, Musliu Oseni, Vice Chairman of the Nigerian Electricity Regulatory Commission…

03/04/2024 0Comments

Fraudsters Clone Air Peace Website, Dupe Customers

Indigenous aviation company, Air Peace, on Tuesday, raised the alarm that some intending passengers intending to book UK flights on its portal were defrauded by fraudsters who cloned its official website. The alarm was coming a few days after the airline launched its…

03/04/2024 0Comments

Dangote Plans One Million-litre Diesel Sale to Each Marketer

The $20bn worth Dangote Petroleum Refinery has commenced the sale of Automotive Gas Oil, popularly called diesel, to oil marketers nationwide. Dealers and officials of the plant confirmed this on Tuesday, as it was gathered that the refinery commenced diesel sales last week. “They…

03/04/2024 0Comments

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