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Transcorp decries N650bn power generation debt

21.03.2025
The Federal Government owes Transcorp Power up to N650bn for its generated power. The company decried the liquidity challenges facing the power sector, saying this has been affecting operations. The Group Chief Executive Officer of Transcorp Plc, Owen Omogiafo, disclosed this during a live television interview on Thursday, which was monitored by our correspondent. According...
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25% oversubscription of First Holdco’s N150bn rights issue paves the way for its private placement of N350bn.

21.03.2025
“This capital raise will empower the group to strengthen its position in the market, invest in innovation, and drive sustainable growth in FirstBank, its flagship subsidiary. “We extend our profound appreciation to the Central Bank of Nigeria and the Securities and Exchange Commission for their support in ensuring the integrity of the process and that...
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Terminal operator engages shippers on rail connection

21.03.2025
APM Terminals Apapa has engaged the agricultural commodities importers and exporters to better understand their logistics challenges and needs and share the benefits of the Apapa-Moniya rail connection. Announcing this in a statement on Wednesday, the terminal operator added that it also engaged the Oyo State Government through one of the special advisers to the...
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French firm suspends hike in shipping charges

21.03.2025
French shipping line CMA CGM has announced the suspension of its planned hike in shipping charges on Nigerian-bound cargoes due to the 15 per cent adjustment of Port & Marine Fees by the Nigerian Ports Authority. Recall that CMA CGM, in a statement sent to importers last week, had announced an increment in its charges,...
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Maritime workers, JNTS sign MoU on welfare

21.03.2025
The Maritime Workers Union of Nigeria has signed a Memorandum of Understanding with the Joint National Transport Safety Committee of Nigeria to improve safety and drivers’ welfare. The group added that the move would also ensure standardisation compliance in haulage transport operations in Nigeria. The agreement, signed at the MWUN Secretariat in Apapa, Lagos, on...
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UBA unveils domestic card scheme, AfriGo

21.03.2025
The United Bank for Africa Plc has launched the Afrigo Card, a domestic card scheme in Nigeria. According to a statement on Wednesday, the Afrigo Card, introduced by the Central Bank of Nigeria in collaboration with the Nigeria Inter-Bank Settlement System, is an alternative to international card schemes, empowering customers with seamless, naira-denominated transactions tailored...
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Operations resume at Trans Niger Pipeline in Rivers

21.03.2025
The Trans Niger Pipeline in Bodo Community, Gokana Local Government Area of Rivers State belonging to Renaissance Africa Energy Holdings has resumed operations after a fire incident on Monday night. A company spokesman told our correspondent on Wednesday that the pipeline was tested and it passed the integrity, saying there was no blast on the...
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Tinubu appoints board members for power system operator

21.03.2025
President Bola Tinubu has appointed board members of the recently established Nigerian Independent System Operator. He named Dr Adesegun Olugbade as the Board Chairman, while Abdu Bello was appointed the Managing Director of the new NISO. An Independent System Operator coordinates, controls, and monitors the operation of the electrical power system, and works with the...
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OADC plans $240m Lagos data centre upgrade

20.03.2025
Open Access Data Centres, a subsidiary of WIOCC Group, plans to expand its Lagos data centre to 24 megawatts by 2027, a huge project that could see the digital infrastructure company coughing out $240m. OADC situated in Lekki, serving as the landing station for Google’s Equiano subsea cable in Nigeria, currently operates about 1.5MW of...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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