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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…
Nigeria’s Supreme Court, ECOWAS Court launch e-case management system in judicial administration
Nigeria’s Supreme Court has launched a nationwide digital case management platform as it also introduced mandatory electronic filing requirements for appeals. This move is aimed at modernising judicial administration, improving efficiency, strengthening record security and aligning the country’s justice system…
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…
