Business
Discos fault FG’s escrow account move
The Association of Nigeria Electricity Distributors (ANED), an umbrella body of electricity distribution companies (Discos) in the country, have kicked against the plan by the federal government to escrow the revenue accounts of the distribution companies. Sunday Oduntan, Executive Director of ANED, who also stated in a statement on Monday…
Read More »EEDC says its commitment to serve despite vote of no confidence by Enugu House of Assembly is unwavering
The Management of Enugu Electricity Distribution Company (EEDC) has restated its commitment to serve its customers in the South eastern states despite the vote of no confidence passed on it by the Enugu State House of Assembly. EEDC who described the action by the lawmakers as unfair said its commitment…
Read More »Daewoo gives June deadline to Quit N’Delta as Bayelsa wants decision reconsidered
Daewoo Engineering and Construction Company, one of the firms operating in the volatile Niger Delta region has given deadline of June to quit the region. But, the Bayelsa State Government is pleading with the company to reconsider its decision. Daewoo cited severe “constraints and challenges” as reasons for wanting to…
Read More »N2.6b debt: EEDC, Enugu State reach agreement
Enugu State Government has entered an agreement with the management of Enugu Electricity Distribution Company (EEDC), to clear a whooping N2.6billion outstanding debt owed the electricity company by the state government. In the agreement, following a meeting held last Friday between the management of EEDC with the state governor, Hon.…
Read More »Court un-freezes Patience Jonathan’s account
A Federal High Court in Lagos on Thursday un-freezed a bank account belonging to wife of former President Goodluck Jonathan, Patience, with over $5,842,316.66 (about N1.7 billion) lodged in it. Justice Mojisola Olatoregun-Ishola froze the account last year with that of five companies and one Esther Oba. The companies’ accounts…
Read More »Mercedes-Benz Accelo berths in Nigeria
The new Mercedes-Benz Accelo has arrived Nigeria auto market. Fresh from Weststar Associates Limited, Authorized General Distributors of Mercedes-Benz products in Nigeria, the vehicle is a medium duty truck designed for city and short distance operations. The company said in a statement that, the growing demand by various businesses to…
Read More »CBN to hold special intervention for BDCs today
The Central Bank of Nigeria will hold a special intervention in the Bureau de Change (BDC) segment of the market today. The aim according to CBN is part of efforts to sustain dollar liquidity in the foreign exchange (FX) market. Isaac Okorafor, CBN spokesman, said in Abuja on Wednesday that…
Read More »CAC commences phase-out of manual company registration process
The Registrar-General Corporate Affairs Commission (CAC), Mahmud Bello, has said the commission will commence phase out of manual company registration process in Lagos and Kano from April 30. To this end, he said CAC has started operating 24 hours company registration process online, to make start-up of business easier in…
Read More »World Bank gives N756.3m to 81 Nigerians
The World Bank, under its Growth and Employment (GEM) project, has approved the sum of N756.3 million for disbursement to 81 young Nigerian innovators who participated in the 2016 Aso Villa Demo Day (AVDD) – one of the economic empowerment initiatives of the present administration. A document obtained from the…
Read More »Lagos to host World Conference of Banking Institute
The 22nd World Conference of Banking Institutes is set hold this April in Lagos. Organisers said the conference will hold from Monday, 24 to Friday, 28 April 2017 at the Eko Hotels & Suites, Victoria Island, Lagos. The global biennial event which is being hosted by the Chartered Institute of…
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