Business

BINANCE CEO INDICTS TINUBU’S GOVT, SAYS FG OFFICIALS SOUGHT SECRET CRYPTO SETTLEMENT Binance CEO Richard Teng has alleged that officials in Nigeria approached the exchange’s team and offered a secret crypto settlement proposal. Teng shared details of the development in a blog post that highlights the ongoing legal troubles around Binance official Tigran Gambaryan. Teng, who replaced former Binance CEO …

TINUBU’S SON, SEYI, DIRECTOR IN CDK, PRESIDENCY ADMITS The presidency has admitted that President Bola Tinubu’s son, Seyi Tinubu, joined the Board of Directors of CDK in 2018. Former Vice President Atiku Abubakar had in a statement on Sunday accused the President of conflict of interest in the award of the Lagos-Calabar Coastal Highway to Hitech Construction Company, which he …

FG ORDERS DOWNWARD REVIEW OF ELECTRICITY TARIFF FOR BAND A CUSTOMERS The Federal Government has approved a downward review in electricity tariff for Band A customers (those with a daily supply of minimum of 20 hours). Under the approved review, Band A customers that were hitherto charged N225/Kwh are now to pay N206.80/Kwh. The decision to crash the tariff may …

EEDC DERAUDING SOUTHEAST, IPOB TELLS AGENCY TO ENSURE ADEQUATE ELECTRICITY OR EXIT The Indigenous People of Biafra, IPOB, have charged the Enugu Electricity Distribution Company, EEDC, to ensure adequate power supply or vacate the Southeast for others who can light up the region. IPOB accused the EEDC of defrauding people of the Southeast through exorbitant billing and an estimated billing …

COURT STOPS IMPLEMENTATION OF NEW ELECTRICITY TARIFF A Federal High Court in Kano has issued an order restraining the National Electricity Regulatory Commission and the Kano Electricity Distribution Company from implementing the new electricity tariff for Band A consumers. The suit marked FHC/KN/CS/144/2024 was filed by Super Sack Company Limited and BBY Sacks Limited. Others are Mama Sannu Industries Limited, …

ANGER AS MINISTER TELLS NIGERIANS TO ACCEPT TARIFF HIKE OR FACE BLACKOUT Strong reactions have trailed comments by the Minister of Power, Adebayo Adelabu, that there would be total blackout in the country in the next three months if the proposed electricity tariff hike is not implemented. Adelabu said this when he appeared before the Senate Committee on Power, which …

COURT STOPS INCREMENT IN PRICES OF DSTV, GOTV SUBSCRIPTION A Competition and Consumer Protection Tribunal (CCPT) sitting in Abuja, on Monday, restrained Multichoice Nigeria Limited, owners of Dstv and GOtv from increasing their tariffs and cost of products and services scheduled to begin on May 1. The three-member tribunal, presided over by Saratu Shafii, gave the interim order following an …

9TH MILE CHAMBER OF COMMERCE TO REDIFINE ENUGU ECONOMY – PRESIDENT The President of 9th Mile Chamber of Commerce, Industry, Mines and Agriculture (9ccima) Leonard Ugwu has described the City Chamber as an industrial hub set to redefine the economy of Enugu State. Ugwu who stated this while briefing journalists in his office at 9th Mile Corner Enugu, said the …

ENUGU GOVT AWARDS CONTRACT TO REVAMP HOTEL PRESIDENTIAL Governor Peter Mbah Administration in Enugu State government has awarded a contract for the revamping of Hotel Presidential, a premier hotel in the heart of the state’s capital. The administration also said it was currently perfecting the terms of agreement for the resuscitation of the state-owned Nigergas Company Limited sequel to a …

ENUGU GOVT GEARS TO REPOSITION ANAMMCO The Enugu State Government has stated its desire and preparedness to reposition the old Anambra Motor Manufacturing Company (ANAMMCO), based in Enugu, to upscale its economic relevance in the state. The State Commissioner for Labour and Productivity, Mr. Chika Ugwoke, made the pledge after Gov. Peter Mbah took a facility tour of the ANAMMCO …