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TCN declares force majeure as flooding submerges two Lagos substations
Transmission Company of Nigeria (TCN) has declared force majeure on the Oworonshoki 132/33kV and Lekki 330/132kV Transmission Substations following flooding caused by persistent rainfall in Lagos. A statement confirming the development, issued by TCN’s General Manager, Public Affairs, Mrs Ndidi Mbah,…
FG, marketers set for showdown over planned fuel price control regime
Petroleum products marketers have threatened an industry shutdown if the federal government enforces its planned activation of the price control mechanism aimed at driving down the current high prices of the commodity in the country. The declaration followed calls by…
CBN shuts 46 microfinance banks over regulatory breaches, as NDIC begins process of orderly closure of affected MFBs
Central Bank of Nigeria (CBN) has announced revocation of the operating licences of 46 microfinance banks (MFBs) for failing to comply with key regulatory requirements. This is also as the Nigeria Deposit Insurance Corporation (NDIC) said it has commenced the…
NRC grants 15-yr rail operating license to Lagos transport agency
Nigerian Railway Corporation (NRC) has granted a permanent rail operating license to the Lagos Metropolitan Area Transport Authority (LAMATA) under a long-term Track Access Agreement, a landmark regulatory approval expected to accelerate the expansion of Lagos’ rail network and significantly boost…
PenCom, ICPC recover over N3bn in unremitted pension contributions, as crackdown on defaulters intensifies
National Pension Commission (PenCom) says it has recovered over N3 billion in unremitted pensions contribution, as its crackdown on defaulting employers across the country intensifies. PenCom, in collaboration with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), had commenced…
FG to seek compensation from S/Africa for Nigerian businessowners displaced by xenophobic attacks
Federal Government has stated that it will seek compensation from South Africa for Nigerians who lost businesses and properties after fleeing violent anti-African immigrant protests sweeping that country. Acting Nigeria’s High Commissioner to South Africa, Alexander Ajayi said affected returnees are…
FG, SSANU, NASU sign renegotiated 2009 agreement on conditions of service, others
Federal Government has formalised the renegotiated 2009 agreement with the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU). The new agreement follows on the heels of a similar deal with…
FG scraps JSS/SSS model, adopts 12-year continuous basic education
Federal Government has scrapped the four-decade long Junior (JSS) and Senior (SSS) model in secondary education, in a major reform of the country’s basic education programme. This is also the government introduced a 12-year continuous and uninterrupted programme in the…
