11 DisCos Failed To Remit N160.1bn In Q2, 2020       The Nigerian Electricity Regulatory Commission (NERC) said the 11 electricity Distribution Companies (DisCos) failed to remit N160.1 billion in Second Quarters (Q2 2020) to the Market Operator (MO) of the Transmission Company of Nigeria (TCN). In the...

$2.6bn Pipeline Project: Reps Grill NNPC, Contractors       The House of Representatives has begun investigation of alleged breach of Nigeria’s laws on local content in the execution of the Federal Government project to construct a gas pipeline from Ajaokuta to Kano. The House Committee on Local Content,...

Senate Begins Probe Of Missing PHCN N27bn Pension Funds     The Senate on Monday opened investigation into the alleged ‘missing’ N27bn meant for the payment of the pension of former staff of the defunct Power Holding Company of Nigeria. The probe by the Senate followed a petition...

Alleged N69.4bn Debt: Court Vacates Order Against Jimoh Ibrahim’s Assets       The Federal High Court, Abuja, on Monday, set aside the interim order through which the Asset Management Corporation of Nigeria (AMCON) seized property belonging to a businessman, Jimoh Ibrahim, for an alleged N69.4 billion debt. Justice...

CBN To Inject N118bn Into DisCos       The Central Bank of Nigeria (CBN) will be disbursing N118 billion for power distribution projects across the six geopolitical zones. Senior Special Assistant to President Muhammadu Buhari on Public Affairs, Ajuri Ngelale, disclosed this on Sunday. This, he said, would enable...

Unclaimed Dividend: Shareholders Sue FG Over Plan To Borrow N158bn       Aggrieved by the plan of the Federal Government (FG) to borrow the over N158 billion outstanding unclaimed dividend, shareholders have sued the government at Federal High Court of Nigeria, Abeokuta Division, seeking to restrain the...