Power distributors have received approval to collect an average of 87.9 per cent of the recently increased electricity tariff from consumers across the country in the first six months of 2021. Latest tariff review documents issued to each of the 11 distribution companies by the Nigerian Electricity Regulatory Commission also[Read More…]
News
Emirates Airlines Ban From Operating In Nigeria By FG
The Federal Government has included Emirates Airlines in the list of airlines not allowed to operate in Nigeria. This is part of measures to curb the spread of COVID-19 in the country. The Minister of Aviation, Hadi Sirika, confirmed this via his Twitter handle on Friday. According to Sirika, the[Read More…]
Shelve Plans Of $1.5bn World Bank Loan, DPR Warn FG
The Department of Petroleum Resources (DPR) says it has advised the federal government to consider withdrawing a $1.5 billion loan request sent to the World Bank. In a statement on Friday, the agency said it has remitted $1.03 billion to the federal government with an additional $600m underway from oil[Read More…]
DISCOS To Set Up Tribunal To Try Erring Consumers
The Kano Electricity Distribution Company which covers Kano, Jigawa and Katsina states has revealed plans to set up a tribunal to try consumers sabotaging distribution of electricity. The Managing Director of the company, Dr Jamila Gwamna, said this on recently in Kano at the official signing ceremony of Memorandum of[Read More…]
Consumers To Pay For Electricity Meters Through Tariff Costs – NERC
Electricity customers will henceforth cease to make one-off payment for meters but rather will pay for them via periodic tariff costs, the Nigerian Electricity Regulatory Commission (NERC) said. A reward system that will compensate those who have acquired meters from their own purse is also in the pipeline. Nathan Rogers[Read More…]
Betting: CBN Probes Owners, Requests Account Statements
The Central Bank of Nigeria (CBN) has requested that all banks in the country submit the statements of domiciliary accounts of some high profile individuals, including owners of popular betting companies Nigeria. CBN issued the directive in a September 15, 2020 letter signed by Z. Markus for the director of[Read More…]
FG Makes U-Turn, Apologises For Asking All Bank, Other Account Holders To Re-Register
The Federal Government has apologised for asking all account holders in the country’s financial institutions to register their details again. The Federal Government earlier asked all account holders in banks, including insurance companies, to fill and submit a Self-Confirmation form. The order was given despite the possession of the Bank[Read More…]
Access Bank To Pay Customer 5Million Naira as Court Declears PND Order Illegal
A Lagos high court has ordered Access Bank to pay the sum of N5 million to its customers, Blaid Construction Limited and Blaid Properties, for breach of bank-customer relationship. The court also declared that a post-no-debit alert action by the bank and continued denial of the customers’ rights to access[Read More…]
DPR Remits N673BN To Federation Account In Six Months
Department of Petroleum Resources (DPR) recently said it remitted N673.72 billion to the federal government coffers in the first half of 2020. The disclosure came against the backdrop of a recent query by the Senate accusing DPR of remitting N44.5 billion into the Consolidated Revenue Fund (CRF) out of the[Read More…]
Nigeria, Korea Pledge to Deepen Cooperation in Shipping
Nigeria and South Korea have agreed to intensify their collaboration in trade and shipping development. This was disclosed in Lagos during a meeting between the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, and Consul General, Embassy of the Republic of Korea in Nigeria, Kim[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]