Skip to content
NERC approves compensation for Band A electricity customers hit by blackouts
Nigerian Electricity Regulatory Commission (NERC) says it has approved a compensation package for eligible Band A customers affected by power supply shortfalls caused by grid generation constraints between February and March 2026. In a public notice issued on Thursday, June 4, NERC…
Pension assets hit N30trn in April — PenCom
Nigeria’s pension assets jumped by 4.8 per cent to hit a record N30.94 trillion in April 2026, according to the National Pension Commission (PenCom). The commission noted that the development further represents a growth of 4.8 percent compared with N29.52…
NERC commences net billing scheme for ‘prosumers’ to sell excess solar electricity to grid
Nigerian Electricity Regulatory Commission (NERC) says it has commenced its Net Billing Regulations 2026 aimed at encouraging sale of excess power by individuals to their distribution companies (DisCos). According to the NERC, the scheme provides for eligible customers, known as “Prosumers,”…
Supreme Court dismisses suit challenging Unity Bank/Providus Bank merger for lacking merit
Supreme Court has effectively ended the long-standing dispute over the proposed merger between Providus Bank Limited and Unity Bank Plc, as a unanimous judgement of the apex court set aside an Appeal Court ruling opposing the transaction. In a unanimous…
CBN upgrades Abbey Mortgage Bank to regional banking status
Central Bank of Nigeria (CBN) has approved the upgrade of Abbey Mortgage Bank Plc to a commercial banking institution, just as the new player in the sector fixed the fourth quarter of this year as date to commence full operations. Making…
Foreign portfolio investment drives Nigeria’s capital inflow, despite FDI slump by 80% — CBN
Central Bank of Nigeria (CBN) Economic Report, in its latest, has revealed that foreign direct investment (FDI) inflows into the country dropped by 80 per cent in January, this year, even as capital from foreign portfolio investment surged. The regulatory bank,…
N100, 000 proposed national minimum wage unrealistic — OPS
Amid demand by labour groups on the federal government to raise the national minimum wage from its present N70, 000 to N100, 000, private sector stakeholders have dismissed the demands as unrealistic, even as they insist it should not cut…
31 MDAs adopt FG’s revenue optimisation platform
Total of 31 ministries, departments and agencies (MDAs) of government have adopted the Revenue Optimisation and Assurance Platform (RevOP) and the Federal Treasury e-Receipt (FTe-R) to improve overall transparency in Federal Government financial operations. This was disclosed, Tuesday, during a…
CBN cites withdrawal of forbearance, loan reclassification for 8.03% rise in NPLs ratio
Banks’ non-performing loans (NPLs) ratio jumped to 8.03 per cent, seven months after the Central Bank of Nigeria (CBN) ended key regulatory forbearance measures that had allowed banks to restructure troubled loans without immediately classifying them as impaired. According to…
Alpha Morgan Bank reports N1.9bn PBT, breaks even in first 10 months of operation
Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax (PBT) of N1.9 billion in under 10 months of operations. It would be recalled that Alpha Morgan Bank commenced operations in March 2025 with the rare distinction…
