South-East Traders Petition CBN, Allege Illegal, Spurious Bank Deductions     The South-East Amalgamated Markets Traders Association has decried what it described as “multiple and indiscriminate charges and deductions on customers” by commercial banks. The association complained about the bank charges in an...

NDPHC Confirms Messrs Ak-AY Elektrik As Contractors On Owerri Substation       The Niger Delta Power Holding Company (NDPHC) Limited has awarded the contract for immediate installation and energising of the Owerri NIPP 2 x 150MVA & 2 x 60MVA 330/132/33kV Owerri...

Fuel Subsidy Hits N1.03trn, NNPC To Deduct N199bn From Federation Account     Amid plans by the Federal Government to remove subsidy on petroleum products next February, a government report shows the subvention has gulped N1.03tn in the first 10 months of...

Reps Summon NEPZA, OGFTZ , Allege Unremitted Taxes By Contractors       The House of Representatives’ Committee on Public Accounts has resolved to invite the Nigeria Export Processing Zones Authority and the Oil and Gas Free Zone on the tax status of...

Investors Lose N598bn As Large-cap Stocks Decline     The Nigerian stock market declined by N598bn at the end of last week as some large-cap stocks recorded price losses. The NGX All-Share Index depreciated by 2.63 per cent to close the week at...

Five Banks’ Interest Income Drops To N376bn, Experts Blame CBN Cash Reserve Policy       The combined net interest income of five publicly-quoted commercial banks has declined by N48.69bn in the last one year, according to the financial statements of the lenders...