The Nigerian Electricity Regulatory Commission (NERC) has taken an enforcement action against the Abuja Electricity Distribution Plc (AEDC) for non-compliance with the Supplementary Order to the April 2024 Multi-Year Tariff Order. To this end, AEDC has been fined N200,000,000 (Two
ActionAid Nigeria has strongly condemned the recent approval by the Nigerian Electricity Regulatory Commission (NERC) to increase electricity tariffs for customers under the Band A classification, saying the decision is at a time the country is grappling with erratic power
The Central Bank of Nigeria (CBN) on Thursday, March 28, 2024, unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at N500 Billion. This Easter present to banks is
The central Bank of Nigeria CBN will this week sell $10,000 each to eligible Bureau De Change Operators at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of not more than 1.5
The Federal Government has initiated criminal proceedings against Binance, a prominent cryptocurrency exchange platform in a decisive move aimed at upholding fiscal responsibility and safeguarding the economic integrity of the country. The charges, filed at the Federal High Court in
The Nigeria Deposit Insurance Corporation (NDIC) say it remains committed to ensuring that those who contribute to the failure of banks are properly investigated and prosecuted. Managing Director and Chief Executive of the NDIC, Mr. Bello Hassan made gave the
Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Dr. Musa Adamu Aliyu, SAN, has vowed to consolidate the working relationship between ICPC and the Nigerian Financial Intelligence Unit (NFIU), to stamp out money laundering and other related
The Federal Competition and Consumer Protection Commission (FCCPC) has described the astronomical increase in the price of sachet water as unacceptable. Acting Executive Vice-Chairman of FCCPC, Dr Adamu Abdullahi, said that there was no reason whatsoever for the increase in
The Central Bank of Nigeria (CBN), on Friday, March 1, 2024, concluded a sale of government securities, issuing N1.053 Trillion (US$680 million) in short-term instruments as part of its liquidity management exercise. It offered N500 Billion at the Open Market
The EITI Board has decided to delist Myanmar from the Extractive Industries Transparency Initiative (EITI) due to ongoing political instability and conflict. The situation in the country has made it unfeasible to uphold key aspects of the EITI, including multi-stakeholder governance and
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