Business

The Nigerian Electricity Regulatory Commission (NERC) says it has not issued any directive on the increase of electricity tariff from January 1, 2023. Media reports had claimed that the commission finalised plans to increase the electricity tariff. The reports also noted that electricity distribution companies (DisCos) would soon inform customers …

Nova Merchant Bank Limited has asked the Federal High Court in Lagos to wind up Midwestern Oil and Gas Company Limited following its failure to liquidate an alleged N1,648, 649,286.68 debt. The bank made the prayer in its petition in suit FHC/L/CP/2641/2023 filed on December 19, 2023 by its lawyer …

By Bolaji Israel Afrobeat’s sensation, Adekunle Gold, popularly known as AG Baby, mesmerised hundreds of music lovers and inspired youths at a pre-Christmas concert sponsored by FirstBank, Nigeria’s premier financial institution. The event, aptly named “Stacked December Party,” took place on December 22, 2023, at the Palms Shopping Mall in …

Preparations are in top gear for the commencement of production in Dangote Refinery, as the petrochemical company has received the fourth crude shipment of, one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL), and expecting the fifth crude shipment, anytime from now. The …

In what has been termed the crowning glory of a successful year, leading financial institution -Fidelity Bank Plc -has been recognized for its devotion to providing exceptional customer experience.   According to the recently issued KPMG 2023 West Africa Banking Industry Customer Experience Survey, the bank recorded a marked improvement …

…more winners to emerge Lucky winners have begun to emerge in the ongoing PalmPay Purple Christmas campaign featuring Nigerian singer-songwriter and pop star Teni. Mary Gbemisola, one of the lucky winners of a hamper and other Christmas gifts delivered to her house by Teni, said she was “happy receiving a …

Tunde Lemo …Rejects appearance by proxy The Office of Special Investigator Jim Obazee has insisted that  Mr Tunde Lemo, the Chairman of Titan Trust Bank, TTB, Mr Cornelius Vink and Rahul Savara must appear before it today to prove that their acquisition of Union Bank of Nigeria, UBN, followed due …

Chinese Yuan and US Dollars The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 28 pips to 7.0974 against the dollar on Thursday. The China Foreign Exchange Trade System revealed this. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by …

British American Tobacco The Federal Competition and Consumer Protection Commission has slammed a $110m fine on British American Tobacco (Nigeria) Limited with respect to a range of infringements of the Federal Competition and Consumer Protection Act, National Tobacco Control Act and sundry legal instruments. The fine is contained in a …

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has rewarded 77 customers with cash prizes in the first quarterly and third monthly draws of its Reward4Saving 3.0 promo. Both draws took place at the Bank’s head office at Walter Carrington Crescent, Lagos. 70 customers won N100,000 each, while seven …