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  • Business - Companies
  • Updated: March 17, 2024

Business news roundup from March 10 - March 16, 2024

Business news roundup from March 10 - March 16, 2024

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

AEDC reveals cause of power outage in parts of Abuja

The Abuja Electricity Distribution Company (AEDC), said the reason for power outage in some parts of the Federal Capital Territory (FCT) was due to stormy weather that caused damaged to critical equipment deployed in the affected areas.

The Electricity company made this known in a notice to its customers in Kubwa, Abuja. Read more here.

CBN to sanction MfBs over late monthly returns

The Central Bank of Nigeria (CBN) has said all microfinance banks who fail to remit their monthly returns will be sanctioned.

This is according to a circular signed by Valentine Ururuka, the Director, Financial Policy and Regulation Department of the apex bank addressed to all MfBs. Read more here.

Food Security: FG signs €995m deal

Senator Abubakar Kyari, the Minister of Agriculture and Food Security said the federal government has secured a €995 million deal between with the Brazilian Government and the German Deutsch Bank Group to finance a Green Imperative Programme in Nigeria.  

Kyari made this statement on Monday in Minna, Niger State. Read more here.

Poor power supply: Assembly summons BEDC, TCN

The Edo House of Assembly on Wednesday, summoned the Managing Directors of the Benin Electricity Distribution Company (BEDC) and Transmission Company of Nigeria (TCN), over poor power outages in the state.

The summon was sequel to a matter of urgent public importance by Kaycee Osamwonyi, (PDP-Uhunwode) at plenary in Benin. Read more here.

Inflation rate rises to 31 per cent

Nigeria’s inflation rate rose to 31.70 per cent in February from 29.90 per cent recorded in January 2024.

This figure indicates an increase of 1.80 per cent, the National Bureau of Statistics said in its latest CPI and inflation report released on Friday. Read more here.

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.

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