The Eko Electricity Distribution Company (EKEDC) has declared medium and long-term plans to upgrade all its customers to Band A and Band B. The General Manager, Commercial, EKEDC, Mr. Samuel Edoho, who unveiled this plan at the Customers’ Engagement forum in Ojo, maintained that negotiations are underway with partners to get an additional grid and off-grid supply that would up the utility firm’s supply and service delivery across franchise areas to, at least, 20-hour daily. Briefing customers at the well-attended forum, Edoho, who led the company’s management team, including the…
Read MoreDay: April 18, 2024
CBN Slashes Loan-To-Deposit Ratio To 50%
The Central Bank of Nigeria, CBN has reduced the Loan to Deposit Ratio, LDR of banks to 50 per cent from 65 percent. The reduction was announced through a circular to Deposit Money Banks titled “Re: Regulatory Measures to Improve Lending to the Real Sector of the Nigerian Economy”. The circular was signed by Acting Director, Banking Supervision Department, CBN, Mr. Adetona Adedeji. In line with the new measures, the CBN has reduced the loan-to-deposit ratio by 15 percentage points, down to 50 per cent. This move aligns with the…
Read MoreUK Unemployment Rate Soars, Jobs Market Stalls
The UK jobs market is showing signs of stalling as the number of people out of work rose, according to new figures. The unemployment rate increased to 4.2% between December and February, which is the highest level for six months. Meanwhile, the rate of people with a job dipped and the economically inactive – those not in work or looking for employment – ticked higher. Economists suggested the data could spur the Bank of England to cut interest rates in the summer. “With employment falling sharply and the unemployment rate…
Read MoreConflicting Court Orders As EFCC Moves To Arrest Yahaya Bello
The Economic and Financial Crimes Commission (EFCC) on Wednesday moved to arrest the immediate past governor of Kogi State, Yahaya Bello, as the anti-graft agency prepared to arraign him over corruption charges. The attempt to arrest the ex-governor led to the laying of siege to his residence located in Wuse Zone 4 on Wednesday. Officials of the EFCC cordoned off the road and entrance to the residence of the former Kogi State governor for most of Wednesday. READ ALSO: Tinubu Directs Inclusion Of NOUN Graduates In NYSC Scheme, Law School…
Read MoreTinubu Directs Inclusion Of NOUN Graduates In NYSC Scheme, Law School
President Bola Tinubu has ordered the ministry of education to include graduates of the National Open University (NOUN) in the National Youth Service Corps (NYSC) scheme. The president gave the directive during his presentation at the varsity’s 13th convocation ceremony on April 13 at the university’s convocation arena in Jabi, Abuja. Speaking on behalf of Tinubu, Biodun Saliu, the deputy executive secretary of the National Universities Commission (NUC), also said the president resolved the longstanding admittance of NOUN Law graduates to participate in Law School in the country for equal…
Read More$3bn Brass Methanol Project’s Gas Supply, Purchase Deals Slated For May
. How GSPA will support the Final Investment Decision (FID) – Ekpo The Gas Supply and Purchase Agreement (GSPA) to support the Final Investment Decision (FID) for the Brass Methanol Project is to be executed by May, 2024. Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo announced this today after a meeting held with key stakeholders of the project in his NNPC Towers Abuja office. Ekpo said the meeting was to confirm adequate gas supply to the Brass Methanol Project by the NNPC/Shell/TotalEnergies/NAOC Joint Venture (JV), as well as…
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