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As the Coronavirus, COVID-19, pandemic continues to take a toll on the Nigerian economy, the Central Bank of Nigeria, CBN, has technically devalued the naira to reflect market conditions as analysts and market operators said they are not surprised.
Some residents of Gowon Estate in Egbeda area of Lagos State on Wednesday blamed irregular electricity supply for their health problems, including heat rash affecting mostly their children.
Ikeja Electric (IE) says it is designing a proposal to refund its customers for pre-paid meters procured under the ongoing Meter Assets Provider (MAP) scheme.
Electricity consumers on Monday opposed the planned tariff increment by Ikeja Electric (IE), demanding that 90 per cent of customers should be metered before any upward review of tariff.
The surfeit of excess liquidity in the interbank money market will persist this week courtesy of inflow of about N1.7 trillion.
Ikeja Electric (IE) Plc says it is targeting total revenue of N170 billion in 2020 with the implementation of the increment in various classes of electricity tariffs.
The Nigerian Electricity Regulatory Commission (NERC) on Wednesday served notices to eight electricity distribution companies (DISCOs) of its intention to revoke their operational licences if they fail within 60 days to remedy alleged ‘breaches of the terms and conditions of their power purchase agreements’.
The Chief Executive officer of FSDH Merchant Bank Limited, Hamda Ambah, has said the government must provide palliative measures for the masses to guarantee the success of the deregulation of the downstream oil and gas sector, which will lead to the removal of fuel subsidy.
Ikeja Electric has dismissed insinuations that it increased electricity tariff to prepaid meters residents in Magodo Estate, without any prior agreement.
The declining fortune of the naira in the Investors and Exporters (I&E) window is expected to continue this week even as the Central Bank of Nigeria (CBN), in a bid to defend the nation’s currency injected $540 million into the window in July.g
The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose sharply by 38 percent, month-on-month, to $4.12 billion in July from $2.9 billion in June, 2019.
The Central Bank of Nigeria (CBN) last month expended over $956 million to defend the nation’s currency, the Naira, at the various segments of the foreign exchange (forex) markets.
A man identified as Okiki Akintola, 50, and his son Mohammed, 22, have been arraigned before an Ikorodu Magistrates’ Court for alleged assault on an employee of Ikeja Electric (IE).
Electricity Distribution Companies, Ikeja Electric Plc (IE) has reiterated the commitment of the company to the safety of its staff across its network area.
An Economist, Mr Rasheed Yusuf, has urged CBN to sustain its ban on 40 items from accessing foreign exchange at the official window to promote their local production and generate more jobs.
The Association of Bureaux De Change Operators of Nigeria (ABCON) has expressed its support for the Central Bank of Nigeria’s (CBN) monetary policy and intervention in critical sectors in the economy.
The Association of Bureaux de Change Operators of Nigeria (ABCON) has set N250 to dollar exchange rate agenda for President Muhammadu Buhari in his second term in office.
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The Medical Laboratory Science Council of Nigeria (MLSCN) says it has validated four Rapid Test Kits to determine their suitability for testing SAR-COV-2 infection popularly known as COVID-19 in the country.
Nigerian celebrities have taken to their social media platforms to mourn the death of Music Legend, Majekodunmi Fasheke, a.k.a Majek Fashek.
Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.
In response to the yearnings of industry stakeholders to declare telecom facilities Critical National Infrastructure, President Muhammadu Buhari, has finally approved and also directed that necessary physical protective measures be put in place to safeguard telecommunications infrastructure deployed across the country.
Alliance for Surviving COVID-19 and Beyond, (ASCAB), a group led by prominent Nigerian human rights lawyer, Femi Falana has said that President Muhammadu Buhari’s claim that late dictator, Sani Abacha, stole $1 billion contradicts the figures earlier released by his own officials.
The Independent Petroleum Marketers Association of Nigeria (IPMAN), Kano chapter, has commiserated with the Management of Nigeria National Petroleum Corporation (NNPC) over the death of its immediate past Group Managing Director, Dr Maikanti Baru.
Nigeria Civil Aviation Authority , NCAA, Thursday, released new guidelines for international flights operations during the current Covid-19 pandemic for Nigerian based crew.
Nigeria’s Minister of Aviation, Hadi Sirika, has denied asking or receiving a bribe to approve flights.
Dr Dominic Ukpong, the state Commissioner for Health while announcing the development on Saturday, May 30, 2020, said the discharged patients have been certified negative by the Nigeria Centre for Disease Control, (NCDC).
Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, says the Minister of Sports and Youth Development, Mr Sunday Dare, is a thoroughbred professional, fine public officer and decent politician.