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Sterling Bank, StarTimes launch N2bn ‘Solar Financing Hubs’ nationwide to drive renewable energy transition
(From left): Darlington Nwankwo, the Divisional Head, Renewable Energy and Mobility, Sterling Bank; Eric Xiao, Vice President, StarTimes Nigeria, and Kelly Aigbedion, the Head, Renewable Energy, Sterling Bank at the launch of the Sterling Solar Financing Hub in Lagos, recently
PenCom hosts 11.32 m workers as assets jump 51% to $22.8 billion
Participation in the Nigerian contributory pension scheme has risen to significant 11.32 million workers, helping drive asset growth by 51 percent to 31.48 trillion in the last two years. The National Pension Commission (PenCom) declared in Abuja on Tuesday that…
Excess liquidity persists, as banks lodge N4.15trn in deposits with CBN
According to the Central Bank of Nigeria (CBN), the banking sector lodged a total of N4.15 trillion with it through its Standing Deposit Facility (SDF) during the week. According to the bank, the trend further highlights continued excess liquidity in…
DisCos accuse NERC of ‘power grab’ as new CapEx provision accounts framework takes off
Electricity Distribution Companies (DisCos) have rejected the fresh order by the Nigerian Electricity Regulatory Commission (NERC) requiring them to establish dedicated Capital Expenditure (CapEx) Provision Accounts into which a substantial portion of their residual revenues must be paid after offsetting operating…
