The National Bureau of Statistics (NBS) says electricity distribution companies (DisCos) in Nigeria made a total of N291.62 billion in the first quarter (Q1) of 2024. The revenue by DisCos rose by 17.91 percent compared to the N247.33 billion recorded in Q1 of 2023, the bureau said. NBS, in its latest report on electricity […]
Socio-Economic Rights and Accountability Project (SERAP) has sent a complaint to the World Bank Inspection Panel urging the Panel “to probe allegations of corruption in the spending of the loans and other funding facilities obtained by the Federal Government and Nigeria’s 36 state governors and to review the implementation of all Bank-funded projects by […]
The National Identity Management Commission (NIMC) has warned Nigerians against the activities of some unauthorised websites harvesting people’s data The websites are idfinder.com.ng, Verify.ng, championtech.com.ng, trustyonline.com, and anyverify.com. The NIMC gave the warning in a statement signed by Kayode Adegoke, its head of corporate communications, on Saturday. On June 20, Paradigm Initiative, a pan-African […]
Binance has been hit with a fine of 188.2 million rupees ($2.25 million) by India’s Financial Intelligence Unit (FIU) as the crypto exchange firm battles for its reputation in an ongoing court trial in Nigeria. In India, virtual digital asset service providers like crypto exchanges are required to be registered with the FIU as […]
The average price of Premium Motor Spirit (PMS), commonly known as petrol, has skyrocketed by 223.21% to approximately ₦770 per litre in May 2024, compared to ₦238.11 per litre recorded in May 2023. This increase was highlighted in the latest Premium Motor Spirit (Petrol) Price Watch report released by the National Bureau of Statistics […]
A popular tap-2-earn app, Tapswap, powered by TON Blockchain, has said the token allocation to users has been indefinitely postponed as the representatives are seeking the best ways to reward the tap-to-earn gamers. This was disclosed by a Head of Communications, Tapswap, John Robbin, on an X space on Wednesday. The app, which required […]
The Federal Government, on Tuesday, announced the addition of 17 deep offshore oil blocks to the 2024 Licensing Round for oil fields in Nigeria. Recall that some deep offshore blocks were recently put on offer for the 2022/23 mini-bid round and other blocks which cut across onshore, continental shelf and deep offshore terrains were […]
The National Palm Produce Association of Nigeria (NPPAN) has revealed that Nigeria spends $600 million annually on palm oil importation. This was stated by Mr Alphonsus Inyang, the National President of the association, in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja. Inyang criticised these expenses as detrimental to […]
The Securities and Exchange Commission (SEC) has warned the public that “investing in Davido‘s meme coin is highly risky”. A fortnight ago, the ‘Unavailable’ hitmaker launched $Davido, his new cryptocurrency coin in a partnership involving Phantom and Solana. The coin quickly gained popularity and even earned profits for early investors. However, it crashed shortly […]
The Nigeria Deposit Insurance Corporation (NDIC) has put up assets of Heritage Bank for sale. Daily Trust had reported how the Central Bank of Nigeria (CBN) revoked the bank’s licence two weeks ago. According to CBN’s Revocation Order signed by CBN governor, Olayemi Cardoso, Heritage Bank contravened Section 12 (1) of the Banks […]
