Kaduna Electric begins Replacement of Maximum Demand Meters Kaduna Electric has begun replacement and upgrade of energy meters with its commercial and industrial as well as applicable residential Maximum Demand customer class across its Franchise Area. The exercise is in furtherance of a recertification exercise and...

Foreign Airlines Raked In $1.1bn In Nigeria 2022   Foreign airlines operating in Nigeria raked in around $1.1bn in 2022 despite foreign exchange challenges. In a conversation with our correspondent on Monday, the Chairman of the Airlines and Passengers Joint Committee of the International Air Transport Association...

CBN Revokes 179 Microfinance Banks, Others’ Licences   The Central Bank of Nigeria (CBN) has revoked the licences of 179 microfinance banks in the country, as well as four primary mortgage banks and three finance companies. This was disclosed in the official gazette of the Federal Government,...

External Reserves Drop By $1.5bn In Four Months - CBN   The country’s external reserves fell by $1.5bn in four months, figures obtained from the Central Bank of Nigeria (CBN) has revealed. Latest figure on movement of the external reserves by the CBN revealed that the figure,...

NGX Retains Upswing As Investors Gain N137bn   The market capitalisation of the Nigerian Exchange Limited (NGX) gained N137bn at the close of trading on Tuesday, maintaining its positive trend this week. Similarly, the All-Share Index also appreciated by 0.48 per cent or 252.06 base points to...

Report Reveals Forex Turnover Crashes By 47%   The foreign exchange turnover of Naira against the United States of American dollar on the Investors & Exporters window fell by 47.08 per cent in April. This was disclosed in the monthly report of activities on the FMDQ which...