Business

NDIC liquidates 425 banks

Nigeria Deposit Insurance Corporation Emma Ujah The Nigeria Deposit Insurance Corporation (NDIC) had by December 2019 liquidated 425 financial institutions. An Assistant Director (AD) in the Insurance and Surveillance Department of the NDIC, Mr John Abiodun, disclosed this at the Quarterly Forum of the Finance Correspondents Association of Nigeria (FICAN), in Abuja, at the weekend. […]

Business

Electricity tariff hike coming soon says TCN

Nigerians should be prepared to pay cost-reflective electricity tariffs in order to enjoy the benefits of the liberalisation of the power sector, the government-owned Transmission Company of Nigeria has said. The Managing Director/Chief Executive Officer, TCN, Mr Usman Mohammed, who said this on Thursday, noted that the government had continued to pump money into the […]

Business

World Bank Approves $2.2bn Loan For Nigeria

The World Bank has approved $2.2bn loan for six projects to support Nigeria’s development priorities. According to PM News, the bank said on Wednesday that the projects would be focusing on improving immunisation and providing an enabling business environment for private sector. It explained that the approved programme of support in the fiscal year 2020 […]