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Ondo communities groan as robberies halt banking operations, frustrate economic activities

A resident of Idoani in the Ose Local Government of Ondo State, Mr Segun Kolawole, is unhappy that he had not been able to enter a banking hall since 2019 when a First Bank branch in the community stopped operations following a bloody robbery attack. He said whenever he needed money or to send money, […]

agencyreport
5th June 2022
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360 Views

Naira redesign: CBN has my approval, Buhari clarifies

News

Russia-Ukraine crisis fuels surge in food prices – Buhari

The President, Major General Muhammadu Buhari (retd.), on Saturday in Accra said ongoing invasion of Ukraine by Russia had led to a surge in the prices of many commodities, including foodstuffs. He, therefore, stressed the need for African countries to devise means of sustaining their economies to cushion the impact of the war. According to […]

agencyreport
5th June 2022
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301 Views

Maritime

Maritime workers demand govt’s action as gunmen attack members

Maritime Workers Union of Nigeria has condemned the attack on its members who were on official assignment on Wednesday at Otu Junction, Nnewi South, Anambra State. According to Independent News, the five members who were ambushed, maimed, and shot were said to have sustained different degrees of injury. A statement signed by the President General […]

sadeniyipdnlimited-com
3rd June 2022
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321 Views

NUPENG threatens strike in Lagos over tanker drivers' safety

Oil and Gas

Motorists slam FG, NNPC as fuel queues hit Abuja again

Fuel queues returned to the Federal Capital Territory on Thursday as motorists spent hours at filling stations waiting to buy the Premium Motor Spirit also known as petrol. This is the third time that Abuja, Nigeria’s political headquarters, will be experiencing gasoline scarcity in 2022. There were long queues in most of the filling stations […]

agencyreport
3rd June 2022
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317 Views

Electricity

FG suspends N500bn electricity subsidy, tariff surge by 58%

Findings have shown that electricity tariffs increased by 58 per cent after the Federal Government yanked off a yearly subsidy of N500bn to the power sector. Documents obtained by Newsmen showed that the subsidy was removed in 2020, leading the Nigerian Electricity Regulatory Commission to equally increase tariffs from N31/kWh to N49/kWh starting from last […]

sadeniyipdnlimited-com
3rd June 2022
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462 Views

Banking

Titan Trust completes takeover of Union Bank

Union Bank Plc has announced the completion of core investors’ sale of a majority shareholding to Titan Trust Bank Limited, a subsidiary of TGI Group. The bank also announced board changes that resulted from the resignation and subsequent retirement of the Directors from the Board of Union Bank and the appointment of new directors. According […]

agencyreport
2nd June 2022
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532 Views

News

EFCC frees suspended Accountant-General after two weeks

The suspended Accountant-General of the Federation, Ahmed Idris, has been released by the Economic and Financial Crimes Commission after he was arrested for his alleged involvement in a N174 billion fraud. Idris was released on bail from the custody of the anti-graft agency on Wednesday night in Abuja and has since been reunited with his […]

agencyreport
2nd June 2022
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301 Views

FG to end fuel subsidy in 2023 - Minister

News

Disagreement stalling Customs automation project – Minister

The Federal Government says the $3.1bn contract for the ‘complete’ automation of the Nigerian Customs Service, approved by the Federal Executive Council in 2020, has been upturned. This, it said, was due to disagreements between parties that made up the consortium. It said the disagreements defied the Federal Government intervention—through the office of the Attorney-General […]

agencyreport
2nd June 2022
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375 Views

News

DisCos revenue rises by 47% to hit N757bn – Report

Revenue collection by the 11 distribution companies increased by 47 per cent to N757bn in 2021. The Association of Nigerian Electricity Distributors’s 2021 report on Commercial Key Performance Indicator for its members said NESI ́s revenue collection in 2021 set a new record of N757bn, which represented an increment of N241bn. The revenue for 2020 […]

agencyreport
2nd June 2022
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323 Views

Energy

Nigeria’s renewable energy investment potential hit $104bn – UK

Climate-smart investment potential in Nigeria, particularly in the renewable energy sector, is worth over $104bn, the United Kingdom High Commission has said. In his address at the Carbon Chamber Conference of the Abuja Chamber of Commerce and Industry, the Head of Climate Change and Energy West Africa, UK High Commission, Sean Melbourne, said the gradual […]

agencyreport
2nd June 2022
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344 Views

NCC, Telecom operators urge states to review policies for broadband expansion

Telecommunications

Telcos record 6.18 million new subscribers in four months

6.18 million Global System for Mobile Communications subscribers joined the national network between January and April this year, according a new industry statistics from the Nigerian Communications Commission. Also, the number of active telephone connections per 100 inhabitants within all areas in Nigeria increased to 105.65 per cent (201.67 million subscriptions) in April. The NCC’s […]

agencyreport
2nd June 2022
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347 Views

Ports and Airports

Port collapse: Cargo diversion may shift to West African countries

There are indications that the nation may soon start experiencing more cargo diversions to neighbouring West African ports as well as increase in freight rates due to the collapse of both Tin Can and Apapa quay aprons. A quay is part of the port where cargo is lifted or vessels are loaded and unloaded. In […]

agencyreport
2nd June 2022
0 Comments
325 Views

Nigeria secures $155m clean energy investments

NGX sheds 0.19% as Presco, banks drag index

NPF Microfinance Bank grows profit before tax by

US imposes new tariffs on UK, Canada, others

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Some Populer Post

Ghana to evacuate 1,000 more workers from South Africa

Nigerians may face rice, tomato scarcity within three months

Pharmaceutical firms’ finance costs jump 46.5% amid high interest

FAAN launches probe into viral Delta airport security altercation

Ondo communities groan as robberies halt banking operations, frustrate economic activities

Russia-Ukraine crisis fuels surge in food prices – Buhari

Maritime workers demand govt’s action as gunmen attack members

Motorists slam FG, NNPC as fuel queues hit Abuja again

FG suspends N500bn electricity subsidy, tariff surge by 58%

Titan Trust completes takeover of Union Bank

EFCC frees suspended Accountant-General after two weeks

Disagreement stalling Customs automation project – Minister

DisCos revenue rises by 47% to hit N757bn – Report

Nigeria’s renewable energy investment potential hit $104bn – UK

Telcos record 6.18 million new subscribers in four months

Port collapse: Cargo diversion may shift to West African countries

Ghana to evacuate 1,000 more workers from South.

Nigerians may face rice, tomato scarcity within three.

Pharmaceutical firms’ finance costs jump 46.5% amid high.

FAAN launches probe into viral Delta airport security.

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