NCS Intercepts N519m Worth of Cannabis   The Nigeria Customs Service (NCS) Federal Operations Unit, Zone A, said it intercepted 6,488 kilograms of cannabis sativa worth N519m between April and September. The Customs Area Controller in charge of FOU A, Kola Oladeji, disclosed this on Monday in...

Electricity Consumers Owe DisCos N385.7bn   Electricity consumers across the country failed to pay the sum of 385.73bn electricity bills issued to them in 2023. According to the 2023 annual report and accounts of the Nigerian Electricity Regulatory Commission (NERC), the DisCos collected N1bn out of the...

DisCos’ Revenue Rises by 40% to N433bn   Revenues earned by electricity Distribution Companies (Discos) in Nigeria in the second quarter of 2024, spanning April to June, rose almost 40 per cent to N433 billion during the period, on the back of the recent tariff increase...

Banks’ Deposits With CBN Now N3.42trn - Report The deposits of banks with the Central Bank of Nigeria ( CBN) hit a weekly high of N3.42tn at the end of last week. This followed the announcement of the operationalisation of the Standing Deposit Facility asymmetric corridor...

FG Signs N11bn Concession Agreement For Tincan Water System   The Federal Government through the Nigerian Ports Authority (NPA) has handed over the Tincan Island Water System facilities to Sandust Tincan Water Project Limited after it signed a 16-year concession agreement with the firm valued at...

Electricity Subsidy: Hospitals, Tertiary Institutions May Gulp N188bn   The Federal Government may spend approximately N188.25 billion annually to subsidise electricity supply for about 75 public tertiary hospitals and 300 educational institutions across the country. This follows the Federal Government’s approval of a 50 per cent subsidy...