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Customer deposits in eight banks hit N85tn in Q3

20.11.2024
Customer deposits in eight Deposit Money Banks reached N85.58tn in the third quarter of 2024, a 12.2 per cent increase from the N76.26tn recorded in the same period in 2023. This was disclosed in the Unaudited Interim Financial Statements for the period ended September 30 of the banks filed with the Nigerian Exchange Limited recently....
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2025 budget lesser in value, economists say

20.11.2024
Economic analysts have indicated that while the nominal value of the 2025 budget has significantly increased, it has decreased by 18.25 per cent in dollar terms compared to the 2022 estimate. They stated this following the approval of the Medium-Term Expenditure Framework for 2025-2027 by the Federal Executive Council, which indicated a proposed budget of...
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Tinubu sacks PTAD boss

20.11.2024
President Bola Tinubu has relieved Dr Chioma Ejikeme of her duties, 13 months after she was reappointed for another four years in office as the Executive Secretary of the Pension Transitional Arrangement Directorate. In a statement issued on Monday by the Head of the Corporate Communications Unit of PTAD, Olugbenga Ajayi, the President announced that...
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Replace obsolete meters for free, NERC orders Discos

19.11.2024
The Nigerian Electricity Regulatory Commission has warned electricity distribution companies not to forcefully migrate customers with faulty meters into the estimated billing regime. It also ordered the Discos to replace obsolete prepaid meters for their customers free of charge. This mandate was outlined in a statement released by the regulatory body’s management and posted on...
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FG plans fresh N31tn borrowing, total debt may hit N170tn

19.11.2024
The Federal Government plans to allocate a significant portion of its budget to debt servicing over the next three years, surpassing allocations for capital expenditures. This is according to the recently approved 2025-2027 Medium-Term Expenditure Framework and Fiscal Strategy Paper. To fund its expenditure plans, the government also intends to borrow an additional N31.24tn over...
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NNPCL admits challenges delaying P’Harcourt refinery take-off

19.11.2024
Barely two months after the September completion deadline flop, the Nigerian National Petroleum Commission has explained why it could not deliver the much-awaited Port Harcourt Refinery Company. In an interview with our correspondent on Monday, the NNPC Chief Corporate Communications Officer, Olufemi Soneye, said the company encountered risks and challenges while carrying out the rehabilitation,...
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Senate to probe infractions by agencies

19.11.2024
The Senate on Monday vowed to invoke parliamentary sanctions against any head of a Federal Government agency indicted for financial infractions in the report submitted to the National Assembly by the Auditor-General for the Federation. The Chairman of the Senate Committee on Legislative Compliance, Senator Garba Madoki, gave the warning at a one-day roundtable workshop...
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Andela partners CNCF to train 20,000 Africans in cloud-native skills

19.11.2024
Andela, the global talent marketplace for technology professionals, has announced a partnership with the Cloud Native Computing Foundation to train 20,000 African technologists in cloud-native basics. In a statement issued on Monday, Andela disclosed that the initiative, launched in collaboration with Linux Foundation Education, is aimed at equipping participants with the skills required to excel...
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Guinness Nigeria, FRSC begin ‘ember’ months campaign

19.11.2024
Guinness Nigeria has partnered with the Federal Road Safety Corps Lagos State Sector Command to launch the 2024‘Ember’ Months Campaign to promote road safety during the festive season. Themed, ‘Speak Up Against Dangerous Driving: Crashes Kill More Passengers than Drivers,’ this year’s campaign calls on passengers and the public to actively participate in promoting safe...
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MTN plans satellite-internet rollout for remote communities

19.11.2024
Africa’s biggest mobile operator, MTN, is exploring partnerships with low-Earth-orbit satellite providers to bring internet connection to rural and remote customers in particular. The Group CEO, Ralph Mupita, said in a media call, Reuters reported on Monday. LEO satellites provide high-speed internet even in areas where terrestrial telecommunications infrastructure such as fibre and mobile broadband...
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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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