Telecoms: Calls, Text And Data Services To Increase Price By 40% Based on recent news report, telecommunication companies are proposing a 40% increase in the cost of calls, SMS, and data to the Nigerian Communications Commission as a result of the rising cost of running...

CBN Alerts Nigerian Banks on Dangers of Transacting With Benin Republic The Central Bank of Nigeria (CBN) has directed banks to implement enhanced measures on existing accounts and transactions related to the Benin Republic. The apex bank said this in a circular dated April 11 and...

Amid Worsening Electricity Crisis, Power Firms Owe Banks N861.14bn   The debt owed to Nigerian banks by operators in the power sector rose by 12.83 per cent in one year to N861.14bn in December 2021 amid the lingering problems plaguing the sector since it was privatised...

FAAC: N725.5bn March Revenue Shared By FG, States, LGAs The Federation Account Allocation Committee (FAAC) report reveals that N725.571 billion for March, 2022 revenue has been shared by federal, states and local governments. This revenue disbursement comprised distributable statutory revenue of N521.169bn and distributable Value Added...

In Six Months, FG Spent N177.53bn On Pension, Gratuities   The Federal Government spent N177.53bn on pension and gratuities in the second half of 2021. These were revealed by figures obtained from the Central Bank of Nigeria’s monthly economic report on Federal Government expenditure. It stated that...

PFAs Invest N74.54bn In Infrastructure   The Pension Fund Administrators (PFAs) invested N74.54bn in infrastructure out of the N13.76trn they received from the Contributory Pension Scheme at the end of February 2022. This was contained in the latest figures obtained from the National Pension Commission. Investors have continued...