Day: May 4, 2021

EKEDC, Ikeja Electric 5-Year upgrades’ investments hit N215.68bn

Tade Salako

  How power distribution firms’ spending plan got NERC’s nod + who will spend what     Two major players in electricity Distribution statum of the Nigeria’s power industry, Eko Electricity Distribution Company (EKEDC) and Ikeja Electric, have secured the nod of the Nigerian Electricity Regulatory Commission (NERC) to spend N215.68 billion in the next five years. NERC, which confirmed this in a document sighted by Platforms Africa, maintained that it approved a 5-year investments plan for upgrades by the two major firms based on outcome of Tariff review consultations, which…

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GTBank Fires 3 Executive Directors, 6 GMs as Succesion Tussle hots Up

Precious Ibekwe

  Meet Miriam Olusanya, University of Ibadan trained Pharmacist turned Financial heavyweight waiting to be GTBank First Female MD/CEO   One of Nigeria’s top tier lenders, Guaranty Trust Bank (GTBank), has disengaged three Executive Directors and six General Managers, in a shakeup exercise  aimed at paving the way for the emergence of Miriam Olusanya as the next Managing Director/Chief Executive of the bank under a Holding Company (Holdco) structure. Already, these changes, which are expected to take effect by end of this month – May 31, 2021, had, according to…

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Oil Surges to $67 Per Barrel, Price Recovery Divides Analysts

Efe Wellington

  Real reason oil prices rose despite surge in COVID-19 ravaging India, World’s third biggest oil consumer   Oil rose to $67 a barrel as optimism over a strong demand rebound in countries including the United States and China countered concern about a surge in India’s coronavirus cases and higher OPEC+ oil supply. Although India has reported more than 300,000 new coronavirus cases for a 12th straight day. The new wave of the virus has already led to a drop in fuel sales in the world’s third-largest consumer in April.…

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Billionaire Couple, Bill and Melinda Gates’ 27 year-old Marriage Crashes

Tim Bauer

  How the couple with three ‘grown up’ children and over 124bn (£89bn) net worth, split in the pandemic   Bill and Melinda Gates have announced their divorce after 27 years of marriage, saying “we no longer believe we can grow together as a couple”. “After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” the pair tweeted. They first met in the 1980s when Melinda joined Bill’s Microsoft firm. The billionaire couple have three children and…

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