Nigeria named among highest new users of bitcoin

Nigerians usage of bitcoin has continued to rise despite warnings by the Central Bank of Nigeria that digital currencies are not legal tender. The Chartered Institute of Bankers of Nigeria disclosed this in its release on ‘The Nigerian Banker’, in its December 2019 edition. Part of its report on digital currencies read, “The CBN has […]

Banks earned N180m to deposit N546b with CBN

•Savings, lending rates gap narrows to 27%•Apex bank cautions transaction-switching firms on lapses The nation’s Deposit Money Banks (DMBs) opted to deposit a whopping N545.71 billion in the tills of the Central Bank of Nigeria (CBN) than deploying them in the economic segments of the country, earning just N180 million in the month of October […]

Nigeria exports 90% cooking gas produced, says NNPC

Over 90 per cent of the Liquefied Petroleum Gas, also known as cooking gas, produced in the country is being exported, a subsidiary of the Nigerian National Petroleum Corporation, NNPC Retail Limited, has said.  The Managing Director, NNPC Retail, Sir Billy Okoye, who said this on Tuesday, added that a chunk of the cooking gas […]

Milk production: Niger, FrieslandCampina sign MoU

The Niger State Government and FrieslandCampina WAMCO Nigeria Plc have signed a Memorandum of Understanding on milk production. The agreement is for 10,000 hectares of land at the Bobi Grazing Reserve in the state under FrieslandCampina WAMCO’s Dairy Development Programme. President Muhammadu Buhari and the Prime Minister of The Netherlands, Mark Rutte, witnessed the signing […]

Discos reject 8,848MW of electricity in one week

The amount of power unutilised by the 11 Discos stood at 680.72MW on November 11; 676.09MW on November 12; 1,100.04MW on November 13; and 1,145.99MW on November 14. Power distribution companies in the country left a total of 8,848.24 megawatts of electricity unused in one week, latest data from the Transmission Company of Nigeria have […]

Forte Oil seeks shareholders’ nod to change name

Forte Oil Plc on Monday notified its shareholders of plans for a name change to Ardova Plc. The company stated this in a notice of Extra General Meeting posted on the Nigerian Stock Exchange website and signed by Oladeinde Nelson-Cole, the Acting Company Secretary. The company would be seeking shareholders’ resolution for a name change […]

FG pays N157.3bn tax arrears to states

The Federal Government has paid the sum of N157.35bn Pay-As-You-Earn tax liabilities owed by Federal ministries, departments and agencies to states. The Chairman, Federal Inland Revenue Service, Mr Babatunde Fowler, said this on Thursday in Awka, Anambra State. Fowler, who is also Chairman of the Joint Tax Board, spoke at the opening of the new […]