No bailout for banks currently suffering squeeze shocks from TSA stress—-FG
Federal government yesterday put to rest speculations that it may give bailout facility to banks currently suffering shocks from the movement of funds belonging to Ministries, Departments and Agencies (MDAs) to the Treasury Single Account (TSA). Even though the Central…
CBN reviews forex policy, begins direct additional funding to banks
Just as the naira tumbled to all time low of N529/dollar Monday, the Central Bank of Nigeria (CBN) has released a new foreign exchange policy in the country with immediate effect. The new policy seemed to be an offshoot of…
Great opportunities abound for youths of this generation in ICT—Ekeh, Zinox chairman
Pioneer digital entrepreneur and Chairman of Zinox Group, Leo Stan Ekeh has disclosed that a multitude of opportunities exist for the current generation to create and sustain new wealth in the 21st Century, noting that one’s family background or circumstances…
Bring down voice price cap officially from N50 to N20, NATCOMS tells NCC
President of the National Association of Telecommunications Subscribers (NATCOMS), Chief Deolu Ogunbanjo has called on the Nigerian Communications Commission (NCC) to look at bringing down the price cap of N50 per minute to N20 per minute, since the cap had…
MainOne shows off Microsoft Cloud partnership, Virtual Reality solutions at Nerds Unite
For the first time in Nigeria, MainOne showcased Microsoft HoloLens, the world’s first self-contained holographic computer running Windows 10 at MainOne’s Nerds Unite 2017 event. Speaking during the event, Principal Group Manager, Microsoft Corporation, Robert Di Benedetto, highlighted the company’s…
$850bn crude oil export proceeds hanging aboard traced to JVCs—-Senate
The National Assembly has said over $850 billion made by the government between 1996 and 2014 from crude oil export was yet to be repatriated to the country by the Joint Venture Oil Companies (JVCs). The salient observation was made…
Electricity inching closer to steady as 16 power turbines working in good conditions
There has been appreciable stability in the nation’s power supply system in the last few days as about 16 power generating turbines have in the last one week become functional. The development has therefore pushed up electricity generation from a…
Fears over use of adulterated Aviation fuel as Jet A1 hits N280 per litre
The sustained slide in the value of the naira against the dollars has caused the price of aviation fuel, known as Jet A1, to skyrocket. Before now, Jet A1 price had stabilized in recent times, selling between N220 and N255…
Free zones, port concession followers decry OGEFZA’s illegality, monopoly
Disquiet is raging within the ranks of maritime stakeholders as investors in the free zones have raised alarm over the adverse economic impact of the proposed Bill to amend the Oil and Gas Export Free Zone Act (OGEFZA Act), of…
Networks circumventing international calls termination rates due to high forex—Teniola
Contrary to news reports that the planned review of termination rates by the Nigerian Communications Commission (NCC) will lead to rise in the cost of voice services provided by GSM networks across the country, the President of Association of telecoms…
