The Nigeria Deposit Insurance Corporation (NDIC) has announced an increase in the maximum deposit insurance coverage levels for all licensed deposit-taking financial institutions with immediate effect. The corporation’s Managing Director, Bello Hassan, during a media briefing on Thursday in Abuja, said the upward review of the insurance cover was in line with the corporation’s commitment […]
MTN Nigeria has barred 8.6 million subscribers from its network in line with the directive of the Nigerian Communications Commission (NCC) on the linkage of SIMs with subscribers’ NINs. The telecom operator stated this in Q1 2024 financial report, adding that the debarred lines impacted negatively on its performance during the quarter. The company stated […]
The Nigerian Communications Commission (NCC) has reported a surge in 5G subscriptions in March this year to 2.7 million, representing 1.24% penetration rate. The commission stated, however, that despite the 5G subscription growth, 2G remained the dominant service, representing 56.97% of all connections, while 3G had 9.04% share. The industry regulator disclosed that 4G subscriptions […]
…Gov Abiodun Says Over N128.3bn Paid As Pensions, Gratuities Ogun State Governor, Prince Dapo Abiodun, on Wednesday said that his administration would do all in its power to come up with a decision on the new minimum wage. To achieve this, the governor said a meeting with labour leaders in the state would […]
The Centre for the Promotion of Private Enterprise (CPPE) has expressed concern that the frequent changes in the customs duty exchange rate have become a huge burden on the business community. The organized private sector (OPS) advocacy group, in a Note issued on Wednesday by its Chief Executive Officer, Dr Muda Yusuf, noted that the […]
Nigeria has projected to spend about $3 billion in capital investment to fuel projects under the Nigerian Gas Flare Commercialization Programme (NGFCP) and create about 300,000 jobs across the oil and gas industry from the venture. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, gave this hint during his presentation […]
The NNPC Exploration and Production Ltd/Seplat Energy Joint Venture and the Edo State Government have signed an agreement for the allocation of 6,000 hectares of land by the state government from its protected forest reserves to enable a large-scale tree planting initiative by Seplat Energy Plc. The deal is in furtherance of the Seplat Tree4Life […]
The Chairman of the Investments and Securities Tribunal (IST), Mr. Amos Azi, has described the Tribunal as one of the foremost organisations that are significantly contributing to the ease of doing business in the country in line with its statutory mandate. Azi, who spoke when the executive team of the Finance Correspondents Association of Nigeria […]
….As NLC Flaws Exercise The Federal Government has approved 25 per cent and 35 per cent of salary increase for civil servants on the remaining six Consolidated Salary Structures. The Head of Press Unit of National Salaries, Incomes and Wages Commission (NSIWC), Mr. Emmanuel Njoku, in a statement on Tuesday confirmed the increment across all […]
The President of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has emphasized the critical need for global leaders and multilateral development finance institutions to significantly increase financing to meet the Sustainable Development Goals (SDGs). Adesina, who gave the charge while speaking at the Islamic Development Bank’s 50th anniversary celebrations in Riyadh, highlighted a growing […]