The new owner of Eko Electricity Distribution Company, West Power & Gas Limited, has unveiled plans to invest $250m (N39.7bn) to transform the facility and improve its distribution network. The Chairman of the company, Mr. Charles Momoh, said the fresh investment would be injected into...

The Central Bank of Nigeria (CBN) has signed a contract of over $50 million (N8 billion) with DERMALOG Identification Systems for the  deployment and implementation of a biometric system, which would help in resolving issues bordering on authentication, as well as check money laundering...

The federal government yesterday endorsed plans to borrow the sum of N48.6 ($300 million) from the world bank via the international development association to establish a mortgage refinance company (MRC) and three others to handle access to housing finance through primary and secondary mortgage...

The Chairman of Transnational Corporation of Nigeria (Transcorp), Mr. Tony Elumelu has restated the commitment of his  pan-African proprietary investment company to invest $2.5 billion to the power sector. Speaking at the weekend after he was handed over the Ughelli Power Plant in Delta State,...

A workshop that was recently organized by the Nigeria Deposit Insurance Corporation (NDIC) for operators in the microfinance banking sub-sector could not have come at a better time. The capacity building programme was part of the efforts by regulatory and supervisory authorities to transform...

The Economic and Financial Crimes Commission (EFCC) has been asked to investigate for prosecution of indicted persons within the management of 20 Bureau De Change (BDC) operators whose operating licences were revoked yesterday. The Central Bank of Nigeria (CBN) revoked the licences of the BDCs...