BUSINESS
Customers’ Complaints Arose More On Electricity, Banking, Followed By Aviation And Telecommunication In 2021 — FCCPC
The Federal Competition and Consumer Protection Commission (FCCPC) says electricity has again topped its 2021 consumer-related complaints chart just like in 2020. The Chief Executive Officer of the Commission, Mr Babatunde Irukera, told newsmen in Abuja on Sunday that banking-related complaints were second on the chart. Irukera explained that aviation and telecommunication related complaints followed the chart. He said that the commission...
Arik Sacks 10 Pilots Who Protested Pay Disparity, Welfare With Foreign Colleagues
The management of Arik Air has dismissed at least 10 of its pilots for embarking on industrial action without due notice. The Guardian learnt that the aggrieved pilots began strike this week in protest against protracted wage disparity between expatriate and Nigerian pilots that has still not been resolved by Arik Air. The management, in a memo, yesterday, described the protest...
Nigeria Got Nothing In Second Quarter 2021 For Giving Togo, Benin Republic, Niger Power — NERC
The Nigerian Electricity Regulatory Commission (NERC) has said that three neighbouring countries did not make any payment for the second quarter of 2021. In its recently released Second Quarter Report 2021, the NERC revealed that the countries (Togo, Benin Republic, and Niger) and some other special customers were issued a total bill of N770m by the Nigerian Bulk Electricity Trading...
48.6% Of Electricity In Nigeria Supplied From Generators — NBS
Generators powered by petrol, diesel and gas provide 48.6 per cent of the electricity consumed by power users across the country, according to the latest data obtained from the National Bureau of Statistics. A document by the NBS on Power Sector Data Preview, which was presented to the Abuja Chamber of Commerce and Industry this month and obtained on Friday,...
Gov. Ikpeazu Launches ‘Easy-Credit’ To Grant Abia Traders, Artisans Access To Funding
As part of efforts to boost small and medium sized businesses in Abia as well as stimulating economic growth, the State governor, Okezie Ikpeazu has unveiled Easy-Credit, a product of the Abia SME Microfinance Bank Limited. The product seeks to provide access to funding to Mico SMEs, particularly Traders, Artisan, and Enterprenus at single digit interest rates . At the product...
AEDC New Board, Interim Management Team Assume Office
The new board and interim management of Abuja Electricity Distribution Company has assumed office. The board is made up of Victor Osadolor as Chairman. Osadolor is currently Chairman of UBA Pensions, a non-executive director of African Finance Corporation (AFC), and former deputy managing director of the United Bank for Africa (UBA). He is a seasoned finance and business turnaround expert with over...
Fuel Scarcity: Abia Govt Directs IPMAN To Resume Supply Or Risk Sanction
Following the scarcity of petroleum products that has hit Abia, over withdrawal of supply by tanker drivers, the state government has directed the drivers under the Independent Petroleum Marketers Association of Nigeria (IPMAN) to immediately resume supply or face sanction. This is contained in a release on Saturday signed by the Secretary to the State Government, Barr. Chris Ezem. The state...
Emirati Minister Insists It’ll Be Unreasonable To Retain Air Peace Slots At Sharjah Airport After Nigeria-UAE Row
Amid the ongoing diplomatic fireworks between Nigeria and the United Arab Emirates, the Emirati Minister of Economy, Abdulla Bin Touq Al Marri, has said that it is unreasonable for the Arab nation to retain the slots of Nigeria-based Air Peace airline at the Sharjah International Airport. The minister, who is also the chairman of the General Civil Aviation Authority in...
FG Insists On N30bn Duty As It Bans 91 Billionaires, VIP’s Jets
The Federal Government has directed the Nigeria Customs Service to ground 91 private jets belonging to some wealthy Nigerians over their alleged refusal to pay import duties running to over N30bn, documents obtained by The PUNCH (not ABN TV) have revealed. As such, the Comptroller-General of Customs, Col Hameed Ali, (retd.) following a directive from the Presidency, has written a...
Oil prices Drop To Two-month Low As New COVID-19 Variant Emerges
The global oil prices fell to $77 per barrel, the lowest since September 2021 amid a new coronavirus variant and U.S. release of millions of barrels of oil from strategic reserves. Brent crude oil futures, the global benchmark, dropped by 5.63 per cent on Friday to $77.59 a barrel. U. S West Texas Intermediate (WTI) crude oil futures fell by 6.52 per cent to...
