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FAAC shares N2.5trn among FG, states, LGs in June, as revenue grows by N1.049trn in May
Federation Account Allocation Committee (FAAC) has shared a total of N2.550 trillion among the Federal Government, states and the Local Government Councils (LGs) for the month of June. A statement, Wednesday, confirming the development and signed by Bawa Mokwa, the…
CAC to deregister 100, 000 companies for breaching statutory filing obligations
Corporate Affairs Commission (CAC) has launched a fresh compliance exercise that puts 100,000 companies at risk of delisting from Nigeria’s official register for failing to meet statutory filing obligations. In a public notice issued, Wednesday, the commission accused the affected…
DisCos accuse NERC of ‘power grab’ as new CapEx provision accounts framework takes off
Electricity Distribution Companies (DisCos) have rejected the fresh order by the Nigerian Electricity Regulatory Commission (NERC) requiring them to establish dedicated Capital Expenditure (CapEx) Provision Accounts into which a substantial portion of their residual revenues must be paid after offsetting operating…
Retailers urge FG to revive Warri, P/H, Kaduna refineries to guarantee energy security
Retailers in the downstream sector under the aegis of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Federal Government to immediately restore full commercial operations at the Port Harcourt, Warri and Kaduna refineries, warning…
FG sets Dec. 2028 deadline for final analogue TV switch-off
National Broadcasting Commission (NBC), DG, Mr Charles Ebuebu Federal Government has fixed December 2028 as the deadline for final transition from analogue to digital television broadcasting. Director-General, National Broadcasting Commission (NBC), Mr Charles Ebuebu, who made this known in Abuja,…
FG constitutes committee on operationalisation of Electricity Act 2023 amid market decentralisation
Minister of Power, Joseph Tegbe Federal Government has inaugurated a nine-member inter-agency committee to address emerging policy, regulatory and operational issues arising from the decentralisation of Nigeria’s electricity market. According to the government, the move is geared towards ensuring a…
Excess liquidity persists, as banks lodge N4.15trn in deposits with CBN
According to the Central Bank of Nigeria (CBN), the banking sector lodged a total of N4.15 trillion with it through its Standing Deposit Facility (SDF) during the week. According to the bank, the trend further highlights continued excess liquidity in…
FG ‘places on hold’ proposed increase in WAEC, NECO fees
Federal Government has reportedly ‘placed on hold’ its earlier decision to increase the West African Examination Council (WAEC) and the National Examinations Council (NECO) Senior School Certificate examinations’ registration fees to a flat rate of N50, 000 beginning from the…
Marketers, refiners, retailers reject Dangote’s dollar-pricing of petroleum products
Petroleum products marketers, refiners and retailers have expressed displeasure over proposal by the Dangote Petroleum Refinery to sell its products in dollars, as against a naira denominated sales policy. According to the groups, in separate reactions to the Dangote proposal,…
Nigeria’s pension assets jump by 51% to hit N31.48trn
Nigeria’s pension assets jumped by 51 per cent in two years to teach N31.48 trillion, according to the National Pensions Commission (PenCom). According to the regulatory, nationwide membership of the country’s contributory pension scheme also grew by nearly 1 million…
