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NERC blames court ruling for ₦2tn electricity subsidy burden
ays 2016 judgment constrained regulatory powers, deepened subsidy exposure • Lagos begins implementation of independent electricity market under new law Nigerian Electricity Regulatory Commission (NERC) has disclosed that a court ruling in 2016 contributed to government’s subsidy exposure currently valued…
Nnorom to replace Elumelu as UBA appoints new Group Chairman
United Bank for Africa (UBA) Plc has confirmed that its Group Chairman, Tony O. Elumelu, will retire from the Board of Directors on August 21, 2026, after completing the 12-year tenure limit for non-executive directors. The bank also announced the appointment…
FG moves to unify digital platforms for business registrations
Federal Government, through the Presidential Enabling Business Environment Council (PEBEC), has unveiled plans to create a unified digital platform that will allow Ministries, Departments and Agencies (MDAs) to securely share information on requests by entrepreneurs across the country to register their…
BOI appoints capital firm to manage $170.6m iDICE Fund for Nigerian Startups
Bank Of Industry (BOI) has appointed the Kuramo Capital Management as Fund Manager of the $170.6 million iDICE Fund. The iDICE Fund of Funds is a landmark investment vehicle aimed at expanding venture capital financing for technology and creative start-ups across…
FMDQ welcomes new Board, appoints Akaraiwe as CEO
Africa’s first vertically-integrated financial market infrastructure, the FMDQ Group Plc has announced the appointment of Mr. Zeal Akaraiwe as its Group Managing Director/Chief Executive Officer subject to the approval of the Securities and Exchange Commission (SEC). The Group has also strengthened…
FG effects Green Tax, drops import tariff on 127 items to ease cost of living
Newly-introduced Green Tax policy of the federal government has effectively kicked off with the total exemption of import duty on electric (EVs) and compressed natural gas (CNG) powered vehicles. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele,…
Doku takes a bow, Angela steps in as GM Corporate Affairs at WAPCo
Sopuruchi Onwuka The West African Gas Pipeline Company Limited has announced the end of the tenure of Dr. Isaac Adjei Doku in the leadership of its Corporate Affairs Division, and subsequent appointment of Mrs. Angela Yasmin Heymann as the new…
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…
