Business

The Director of the Financial Policy and Regulatory Department (FPRD) at the Central Bank of Nigeria (CBN), Haruna B. Mustafa has said that the reason for the exclusion of retained earnings is for banks to inject fresh capital into the system. Mustafa said this in a podcast titled ‘Banking Sector …

Digital solutions services provider, Globacom, has congratulated Nigerian Muslims on the conclusion of the Ramadan fasting period, and encouraged them to always remember thelessons of Ramadan even beyond the fasting period. In a goodwill message on Tuesday in Lagos, Globacom noted that “it is a month of sacrifice, abstinence, and, …

Globacom, Nigeria’s digital solutions provider, has introduced two new Enterprise Business products with unparalleled data speed and service experience. The internet connectivity solutions called Glo Fibre to the Home (FTTH) and Fibre to the Business (FTTB) are specifically made for residential and SME commercial users, respectively, to give them access …

UBA Introduces First of its Kind Scan To Resolve Complaint Portal Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a Quick Response solution code, qrdispute.ubagroup.com:8088 called the ‘Scan to Resolve Complaint’ Portal with code  aimed at enhancing satisfaction and swiftly addressing customers’ disputes. The first of its kind innovative …

As part of its ongoing commitment to eliminate hunger among vulnerable persons in the society, Abbey Mortgage Bank, a leading primary mortgage bank in Nigeria, has distributed over 400 food packs to Kuramo community in Victoria Island, Lagos State. The donation is an initiative under the bank’s Corporate Social Responsibility …

The last may have not been heard in the crisis rocking the Eko Electricity Distribution Plc (EKEDP), one of the 11 electricity distribution companies in Nigeria, as documents SaharaReporters obtained on Friday revealed a cover-up and fraud. The documents showed the chairman of EKEDP, Dere Otubu, in an alleged cover-up …

The Nigerian Electricity Regulatory Commission has taken enforcement action against the Abuja Electricity Distribution Plc (AEDC) for non-compliance with the Supplementary Order to the April 2024 Multi-Year Tariff Order 2024 for AEDC. NERC fined the electricity distribution company ₦200,000,000 (Two Hundred Million Naira) for its failure to comply with the …

Air Peace, Nigeria’s flag carrier, has announced an increase in capacity on its Lagos-London flights. The airline made the announcement on its X page on Wednesday. On March 30, Air Peace commenced its Lagos-London flight services. During an interview on Arise TV on April 2, Allen Onyema, chief executive officer …

IKEDC Following the Wednesday controversial announcement  by the Nigerian Electricity Regulatory Commission that electricity consumers under the Band A  classification will now pay N225 for a kilowatt per hour (KW/h) instead of the usual N66, the Ikeja Electricity Distribution Company has  released the list of the areas  within its coverage …

First Bank of Nigeria Limited has rewarded six of its customers with N1 million each at the fourth and grand finale of its ‘WinBig’ promo draw held at its head office in Lagos recently. The promo, which kicked off in October last year, was one of the biggest campaigns in …