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Amid distribution shortfalls, DisCos recover N597.6bn electricity debts from customers
Amid erratic service supply to customers nationwide, the country’s electricity distribution companies (DisCos) have reported the second-highest quarterly revenue collection over the past five quarters, in the first quarter of 2026. According to data from the sector’s regulator, the revenue boost…
Wema Bank announces Hackaholics 7.0 edition with seven verticals, improved grant prizes
Wema Bank has announced the 7th edition of its flagship tech-driven innovation initiative platform, Hackaholics. The announcement was made at the official press conference held, last Wednesday, at the Wema Bank Head Office in Lagos. Launched in 2019, Hackaholics is…
Altinvest launches ‘Your Money, Your Value’ investment guide
Independent non-interest bank (NIB), the Alternative Bank has through its ethical digital investment platform, Altinvest, formally launched the ‘Your Money, Your Value,’ guide. The publication, according to the platform is a free practical guide designed to help Nigerians better understand…
Shell, 9 banks launch $3bn Contract Finance facility to support Nigerian contractors
Shell Nigeria Exploration and Production Company Ltd (SNEPCo) has launched a $3 billion Contract Finance facility in partnership with nine leading Nigerian banks to support contractors. The facility launched, Thursday, which represents a major step towards empowering Nigerian contractors is…
UBA marks Bumper Account anniversary, rewards customers with over N400m in bonuses
United Bank for Africa (UBA) has rewarded thousands of its customers with over N400 million in anniversary bonuses under its UBA Bumper Account, as part of efforts to encourage savings and reward customer loyalty. The bank said the bonuses were paid…
FG steps in to clear N39.63bn pension liabilities of 24,814 retirees
Federal Government, through the Pension Transitional Arrangement Directorate (PTAD) has disbursed N39.63 billion to clear outstanding pension liabilities for 24,814 eligible retirees under the Defined Benefit Scheme (DBS). PTAD completed the disbursement following a directive from the Minister of Finance…
Saudi Arabia to slash oil prices, as market edges to post- COVID-19 era
Saudi Arabia is expected to slash the official selling prices of its crude loading for Asia in August, as Middle East’s crude benchmarks crashed amid the tentative reopening of the Strait of Hormuz and the oil supply increase from the region….
NRC suspends Kajola-Apapa train service from July 6
Nigerian Railway Corporation (NRC) has announced suspension of its Kajola-Apapa passenger train service for three weeks to enable it to carry out scheduled maintenance on locomotives and coaches. Managing Director/Chief Executive Officer of NRC, Dr Kayode Opeifa, who made this known…
FG draws fresh $1.25bn World Bank loan to finance job creation programme
World Bank has granted approval to a fresh $1.25 billion loan request by the Federal Government under its Nigeria Actions for Investment and Jobs Acceleration programme. The approval was confirmed in a statement made by the World Bank on Wednesday, along…
SMEDAN secures $12bn S/Korea commitment to establish skills acquisition facility
Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has secured a $12 billion commitment from South Korea to establish a Skills Acquisition Centre in Abuja, as part of efforts to strengthen entrepreneurship and boost small businesses across Nigeria. This is…
