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The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Central bank investigates 55 companies over foreign exchange infractions

Amidst sustained pressures on Nigeria’s official foreign exchange resources, the Central Bank of Nigeria, CBN, has opened investigations into foreign exchange transactions of 55 companies and individuals.

Eko, Ikeja Discos begin implementation of new tariff plan

The distribution companies made the announcement in separate notices to their customers through their social media accounts on Tuesday saying the Nigerian Electricity Regulatory Commission (NERC) had approved the Multi-Year Tariff Order (MYTO) 2020 which took effect from Tuesday.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

External reserves reverse negative trend, rises to $35.7 billion

The nation’s external reserves, last week, rose (though slightly) for the first time in 12 weeks, to $35.66 billion.
FMDQ Securities Exchange has posted 13.66 per cent turnover growth in the Fixed Income and Currency (FIC) for the month of July.

FMDQ turnover increases by 13.66% to N18.72 trillion in July

FMDQ Securities Exchange has posted 13.66 per cent turnover growth in the Fixed Income and Currency (FIC) for the month of July.
Nigeria Naira

Nigeria ‘devalues’ naira as analysts asses market situation

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.

Lagos residents groan over irregular electricity supply

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 to refund customers for pre-paid meters procured under MAP scheme

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.
The Ibadan Electricity Distribution Company, IBEDC, has appealed to its customers to go through the proper channel and avoid fraudulent activities in meter collection.

Electricity consumers oppose tariff increment by Ikeja Electric

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.

Excess liquidity to persist as N1.7 trillion inflow hit interbank market

The surfeit of excess liquidity in the interbank money market will persist this week courtesy of inflow of about N1.7 trillion.

Ikeja Electric targets N170 billion revenue in 2020

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.

Ex-VP Sambo: I don’t own shares in Kaduna Disco

Former Vice President, Namadi Sambo, has described as ‘total falsehood and fallacy’ a story linking him to ownership of Kaduna Electric Power Distribution Company of Nigeria (KAEDCO).

NERC gives DISCOs ultimatum to settle debts, address breaches

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’.

FSDH: Fuel subsidy unsustainable

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: We followed due process in PPA agreement

Ikeja Electric has dismissed insinuations that it increased electricity tariff to prepaid meters residents in Magodo Estate, without any prior agreement.

Naira to depreciate further in I&E as CBN intervenes with $540m

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

Forex: Turnover in I&E rises by 38% to $4bn in July

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.

Central bank injects $956 million, ¥63 million into forex market

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.

Police arraign father, son for ‘beating’ Ikeja Electric worker

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).

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President Muhammadu Buhari on Wednesday met with a former Minister of Defence, Gen. Theophilus Danjuma (retd.).

President Buhari, General Danjuma meet at Aso Rock

President Muhammadu Buhari on Wednesday met with a former Minister of Defence, Gen. Theophilus Danjuma (retd.).
President Muhammadu Buhari, on Friday, said the Federal Government would engage the services of members of the National Youth Service Corps to champion the implementation of the Sustainable Development Goals 2030 at the grassroots.2

Eid-el-Maulud: President Buhari preaches love, honesty

President Muhammadu Buhari has urged all Nigerians to seize the opportunity of this year’s Eid-el-Maulud to reflect on the virtues of the Holy Prophet by showing love and understanding for fellow citizens.
Joe and Jill Biden voted in Wilmington, Delaware, on Wednesday

US election: Joe Biden votes in Delaware

Democratic White House hopeful Joe Biden cast his ballot in the US presidential race Wednesday in Delaware, six days before the end of a turbulent campaign pitting him against incumbent Donald Trump.

CAF president confirms candidacy for re-election

The Confederation of African Football President Ahmad Ahmad has announced his intention to run for a second term in office.

AFCONQ: Kaizer Chiefs confirm Daniel Akpeyi’s Super Eagles call-up

South African giants, Kaizer Chiefs, has confirmed that goalkeeper, Daniel Akpeyi, has received a call up for Super Eagles’ 2022 Africa Cup of Nations double-header against Sierra Leone in November.