Nigerian banks have started charging customers for failed transactions, a move that could further compound economic hardship already assailing the masses. The charges were imposed following a CBN directive earlier this year that directed banks to penalise customers who initiate direct debit transactions on their account but lack funds to[Read More…]
News
NAFDAC Warns Traders Against Using Insecticide to Preserve Foodstuffs
The National Agency for Food and Drug Administration and Control warned the general public against the use of Sniper and all other brands of ‘Dichlorvos’ in the preservation of foodstuffs. The Director-General of NAFDAC, Prof. Mojisola Adeyeye, in a statement on Sunday, said the use of Sniper to preserve foodstuffs[Read More…]
Nigeria Breaks Record of Electricity Transmission
The Transmission Company of Nigeria (TCN) says the power sector has recorded an all-time national peak of 5,459.50 megawatts (MW). In a statement on Thursday, Ndidi Mbah, TCN general manager of public affairs, said the new record was achieved on October 28. She said the power generated was efficiently transmitted[Read More…]
NERC’s Operating Revenue Increases by 57%
The total revenue accruing to the Nigerian Electricity Regulatory Commission (NERC) increased by 57 per cent in the first quarter of 2020, the power industry regulator, has disclosed. NERC also stated that the total expenditure of the commission rose to N1.94 billion, from N1.74billion incurred in the preceding quarter, noting[Read More…]
Access Bank Announces N50 Billion Interest Free Loans and Grants For SMEs
Access Bank Plc has announced that it will be providing N50 billion interest-free loans and grants to Nigerians to support communities, the youths, and micro, small and medium-sized businesses (MSMEs). This is to help cushion the effect of Covid-19 pandemic, coupled with the hijacked #EndSARS protests that led to the[Read More…]
Hope PSBank Announces Board Appointments …Abubakar as Board Chairman, Kuponiyi as Managing Director
Hope PSBank, Nigeria’s premier Digital-first Bank and a subsidiary of Unified Payments has announced key appointments for the bank. The board has approved the appointments of Alhaji Shehu Abubakar as Chairman and Ayotunde Kuponiyi as Managing Director. The list of Directors includes Agada Apochi, Ochanya Dan-Ugo, Festus Eze Ikediasor, Ano[Read More…]
9mobile Felicitates with Founder of MobiHealth on World Bank SDGs Award
Nigeria’s telecoms provider, 9mobile, has felicitated with the founder of MobiHealth International, Dr. Funmi Adewara on winning the World Bank SDGs and her Global Award 2020. Adewara was one of the seven women entrepreneurs recognized for using their entrepreneurial skills to support the SDGs through their business leadership and health[Read More…]
CBN Releases Framework for Financing of Mass Metering
Central Bank of Nigeria (CBN) has released its framework for National Mass Metering Programme (NMMP). The framework was released by the Development Financing department of the apex bank through its official website on Monday. It stated that introduction of the Service-Based Tariff (SBT) in the Nigeria Electricity Supply Industry (NESI)[Read More…]
FirstBank CEO, Dr. Adesola Adeduntan Becomes A Member Of Bretton Woods Committee
Nigeria’s premier and leading financial inclusion services provider, First Bank of Nigeria Limited has announced that its CEO, Dr. Adesola Adeduntan has been honoured with membership of Bretton Woods Committee (BWC). FirstBank has also joined Bretton Woods Committee as an Organisational Supporter in line with the commitment to demonstrate cooperation[Read More…]
FirstBank Corporate Statement
Our attention has been drawn to the tweet making the rounds on social media on shutting down the FirstBank website following a false tweet that the Bank prevented staff from joining the ongoing protests in the country. As the largest banking institution in Nigeria, it is not unlikely that we[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…]