SECTOR INSIGHT

FG Announces New Gas Price For Electricity Generating Companies

The Federal Government, on Monday, announced a new price of natural gas for power generation companies. An agency of the Federal Government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), unveiled the new domestic base price and wholesale prices of natural gas…

02/04/2024 0Comments

Air Peace Plan Commencement of Flights to New York, Houston

The Chief Executive Officer (CEO) of Air Peace Airlines, Mr. Allen Onyema, yesterday, disclosed that the airline was planning to begin flights to New York and Houston by the end of 2024. Onyema, who was a guest on ‘The Morning Show’ on ARISE …

02/04/2024 0Comments

BDCs’ Recall To Forex Market Boosts Naira Recovery – Operators

The Association of Bureaux de Change Operators of Nigeria (ABCON) has lauded the decision of the Central Bank of Nigeria (CBN) to recall Bureaux De Change (BDCs) into the mainstream forex market, describing the move as a major factor in ongoing exchange…

01/04/2024 0Comments

Access Holdings Plans $1.5bn Capital Raising Programme

Access Holdings Plc has unveiled plans to establish a capital raising programme of up to $1.5 billion. The programme aims to raise $1.5 billion through a share sale or bond offering. The company also plans to ask existing shareholders to raise N365 billion…

31/03/2024 0Comments

NCC Extends Deadline for SIM-NIN Linkage to July 31

The Nigerian Communications Commission has directed telecommunication companies to extend the disconnection of telephone lines not linked to National Identification Numbers from April 15, 2024, to July 31, 2024. A reliable source within the telecommunication sector disclosed this information to press. This decision communicated…

31/03/2024 0Comments

13 New Governors Borrowed N226.8bn in Six Months – DMO

In the first six months after taking office, 13 new state governors collectively borrowed N226.8bn from domestic and external financiers. This emerged as findings by Sunday PUNCH showed that 16 state governors also increased the debt profile of their states by N509.3bn with domestic and…

31/03/2024 0Comments

Economy Records Over $1.5bn Inflow in Days – CBN

The Central Bank of Nigeria has disclosed that over $1.5bn came into the Nigerian economy over the past few days, indicating that its monetary policy efforts are effective. The CBN’s Acting Director of Corporate Communications Department, Mrs Sidi Ali, disclosed this in a…

30/03/2024 0Comments

CBN Pegs Minimum Capital Base For Banks At ₦500bn

The Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at ₦500 billion. A circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, to all…

29/03/2024 0Comments

Blackout Hits Nigeria As National Grid Collapses Again

Nigeria has been plunged into darkness yet again as the national electricity grid, centrally managed from Osogbo, Osun State, suffered a collapse at about 4:30 pm on Thursday, leaving millions of homes and businesses without power. This development marks the fourth time the…

29/03/2024 0Comments

NDPC Launches Investigation into Over 400 Privacy Breaches by Loan Apps

The Nigeria Data Protection Commission (NDPC) is currently investigating over 400 cases of privacy infringements linked to digital loan apps, an issue affecting users across the country. The commission, in its recently released 2023 Annual Report, noted the overly intrusive nature of these…

29/03/2024 0Comments

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