Lagos extends amnesty for building permit compliance to Dec. 31
The Lagos State Government has announced an extension of the amnesty period for owners and developers of buildings lacking Planning Permits, now set to expire on December 31, 2024. Governor…
Debt servicing impedes Nigeria’s socioeconomic development – IMF
The International Monetary Fund has reported that Nigeria allocates a significant portion of its revenue to debt servicing, which limits available funds for essential development projects. During the Fiscal Monitor…
Old naira notes remain legal tender beyond 2024 – CBN
The Central Bank of Nigeria has addressed concerns regarding the old series of N200, N500, and N1000 banknotes, stating that they will not cease to be legal tender on December…
NUPRC screens qualified oil block bidders for 2024 licensing
The Nigerian Upstream Petroleum Regulatory Commission has begun the technical screening of financially qualified bidders for the 2024 licensing bid rounds. At this stage, the commission will assess each company’s…
System migration won’t affect banking services – FirstBank
FirstBank has confirmed that its upcoming transition to a new cloud-based procurement and financial platform, set for Saturday, October 26, will not affect banking services for its customers. The bank,…
Discos may be liable for power transmission repairs
The Nigerian Electricity Regulatory Commission is considering making power distribution companies responsible for the costs associated with repairing faulty transformers and replacing transmission infrastructure. It stated that this initiative aims…
Binance executive Tigran Gambaryan leaves Nigeria after eight months detention
The Binance executive, Tigran Gambaryan, has reportedly departed Nigeria after several months of lawful detention. This was disclosed in a statement on Thursday, according to Nairametrics. Details regarding his departure…
NNPC confirms helicopter crash in Port Harcourt involved company personnel
The Nigerian National Petroleum Company Limited confirmed that the helicopter operated by East Winds Aviation, which crashed on Thursday in Port Harcourt, Rivers State, was carrying personnel from the national…
US expresses gratitude to Nigeria for Binance executive’s release
The United States government has thanked Nigeria for the release of Tigran Gambaryan, a Binance executive, following a court order from the Federal High Court in Abuja. The acknowledgment came…
Reps calls for gradual withdrawal of old naira notes
The House of Representatives has urged the Central Bank of Nigeria to begin a gradual withdrawal of old naira notes while introducing new denominations of N200, N500, and N1,000 to…
First Bank announces service disruption over migration to new platform
First Bank, one of Nigeria's tier-1 lenders, has announced its transition to a new cloud-based procurement and financial platform aimed at improving operational efficiency and service delivery. In a notice…
C-of-O: FG threatens land revocation for non-payment of debts
The federal government has issued a 60-day notice to all federal Certificates-of-Occupancy title owners in Nigeria, demanding the payment of outstanding debts or facing full revocation of their land documents.…
