back to homepage

Business

Court reverses 45 percent electricity tariff hike

A Federal High Court in Lagos, Wednesday, declared illegal the upward review of electricity tariff by the National Electricity Regulation Commission. In a landmark judgment delivered by Justice Ibrahim Idris,

Read More

NCC remits N70bn into Federation Account

The Nigerian Communications Commission
 (NCC) on Monday said it had remitted N70 billon into the Federation
Account in the last one year. “This is in addition to the N30 billion paid

Read More

Naira hedges against Pound Sterling, Euro

The Naira on Monday weakened slightly
 against the dollar at the parallel market.
The Nigerian currency shed 1 point to trade at N353 by
midday, from N352 it traded on Friday.
However, the

Read More

Orange completes acquisition of Airtel in Burkina Faso

Orange announces today that, together with its subsidiary Orange Côte d’Ivoire, it has completed the acquisition of 100 per cent of the mobile operator Airtel in Burkina Faso. Since the

Read More

CBN to clear backlog of forex demand

The Central Bank of Nigeria has 
announced plans to clear all
existing backlog of Foreign
Exchange (forex) demand in the
country as its flexible foreign
exchange policy take effect.
The Acting Director of
Communications, CBN, Isaac
Okorafor,

Read More

Five states meet conditions to access FG’s N90bn loan

The Federal Government on Thursday announced that five states had met the 22 stringent conditions it stipulated for accessing the N90 billion loan facility. Akwa Ibom State Governor, Mr. Udom Emmanuel,

Read More

$9 billion oil money stolen, unremitted in 2013 – NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI), has announced that Nigeria lost at least $9 billion in 2013 to sharp financial practices in the oil and gas sector. The Executive

Read More

FG lists 22 conditions for states to access N90billion loan

The Federal Government has spelt
out 22 stringent conditions
states must fulfill to enable them benefit from the N90 billion loan set aside for states facing financial difficulties. The Minister of Finance,

Read More

MTN ‘to double’ Nigeria’s spending

MTN Group said in Johannesburg on Wednesday it would more than double its capital spending in Nigeria in the 2016 fiscal year. The firm said in a presentation posted on

Read More

FG reduces MTN fine, approves staggered payment

The Federal Government on Friday accepted to reduce the fine imposed on telecommunications giants, MTN from N1.04 trillion to N330Billion. According to a statement by spokesman of the  Nigerian Communications

Read More