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Discos assure consumers of stable power supply

Discos assure consumers of stable power supply

Two of the nation’s power distribution companies, Ibadan Electricity Distribution Company and Eko Electricity Distribution Company, have assured customers of stable supply during this festive season. The Discos gave the assurance on Thursday in separate statements made available to our correspondent. EKEDC’s General Manager, Corporate Communications, Mr Godwin Idemudia, said the company remained committed to...

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CBN revokes licences of seven payment services providers

CBN revokes licences of seven payment services providers

The Central Bank of Nigeria has revoked the operating licences of seven payment services providers. The CBN disclosed this on Thursday on a report titled ‘Revocation of operating licences of some payment service providers’. The affected firms are Easifuel Limited, Transaction Processing System, Grand Towers Limited, Paymaster Limited, E-Revenue Gateway Limited, Eartholeum Network Limited, and...

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Telcos begin backend integration into NIMC database

Telcos begin backend integration into NIMC database

THE MOBILE NETWORK OPERATORS IN NIGERIA HAVE STARTED THE PROCESS OF BACKEND INTEGRATION WITH NIMC’S DATABASE TO FACILITATE THE VALIDATION AND VERIFICATION OF DIGITAL IDENTITIES AS WELL AS THE ENROLMENT PROCESSES. The Association of Licensed Telecommunications Operators of Nigeria in a statement issued on behalf of MTN, Airtel, Globacom and 9mobile on Wednesday said the...

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Low production pushes up cement price by 35%

Low production pushes up cement price by 35%

 The inability to meet market demand for cement coupled with low production volume by major cement companies in Nigeria have driven prices up by 35 per cent. An investigation by The Punch indicated that a 50kg bag of cement, which cost between N2,400 and N2,600 as of September this year now sells for N3,500. Stakeholders...

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Banks borrow N1.7tn from CBN in three months

Banks borrow N1.7tn from CBN in three months

Deposit Money Banks borrowed N1.7tn from the Central Bank of Nigeria in the third quarter of 2020. The CBN disclosed this in its third quarter economic report. Part of the report read, “Deposit Money Banks and merchant banks continually accessed the standing facilities window to square up positions in 2020 Q3. “The trend at the...

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Food prices rising, household incomes precarious – NBS

Food prices rising, household incomes precarious – NBS

The prices of most food items increased in November this year, while the incomes for many households are still in precarious situations, the National Bureau of Statistics has said.  In its Selected Food Prices Watch for November 2020, the NBS stated that selected food price watch data in the review month reflected that the average...

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CBN revokes 42 microfinance banks’ operating licences

CBN revokes 42 microfinance banks’ operating licences

The Central Bank of Nigeria has revoked the operating licences of 42 microfinance banks in the country.  The Nigeria Deposit Insurance Corporation disclosed this on Friday in an announcement on its website titled ‘Notice of closure of 42 microfinance banks’. It stated, “This is to inform the depositors, creditors, shareholders and the general public that...

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ENUGU COMMENCES STATE WIDE CARNIVAL WITH PRAISE AND WORSHIP

ENUGU COMMENCES STATE WIDE CARNIVAL WITH PRAISE AND WORSHIP

Enugu State has begun a state wide Carnival to celebrate life and it’s gains in the state. The event started today, Sunday, December 20, 2020, with praise and worship sessions by Artists like Duncan mighty, Chinyere Udoma, the melody makers, Sensational Bamidele, Odumeje and others. It is being hosted atMichael Okpara Square, Independence Layout, Enugu

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COVID-19: Lagos shuts Cubana nightclub

COVID-19: Lagos shuts Cubana nightclub

Security operatives have sealed off Cubana nightclub, Ikeja GRA, and other facilities over failure to adhere to COVID-19 guidelines. Both the Lagos State Safety Commission and Lagos State Police Command shut down the nightclub and other facilities early Sunday morning. In a video that surfaced online, the police led by the Lagos State Commissioner of...

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United Airlines to resume Boeing 737 MAX flights

United Airlines to resume Boeing 737 MAX flights

United Airlines became the latest carrier to announce a timeframe to fly the Boeing 737 MAX again, saying Friday the jet would resume flights in February. The plane, which was out of service for 20 months following two fatal crashes, will re-enter United’s schedule on February 11, with service from Denver and Houston. The move...