Discos revenue jumps to N887bn

Nigeria’s electricity distribution companies have raked in a total sum of N887.86bn as revenue in the first seven months of 2024 following the tariff increase for Band A customers and improved revenue collection, findings by The PUNCH have shown. Despite consistent complaints over poor power supply by consumers and high tariffs, the 11 Discos increased…

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PoS transactions hit N6.23tn in seven months

Point of Sale transactions in Nigeria totalled N6.23tn between January and July 2024, according to data from the Nigeria Inter-Bank Settlement System. This marks a 7.4 per cent decline compared to the N6.79tn recorded in the same period in 2023, reflecting changes in consumer behaviour and spending patterns. A breakdown of the NIBSS data shows…

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CAC To Sanction POS Operators For Failure To Register Their Businesses As September 5 Deadline Lapses

The Corporate Affairs Commission (CAC) has disclosed that it is set to take action against Point of Sales (PoS) businesses that have failed to register their businesses following the passing of the September 5 deadline earlier announced. The CAC alleged that POS businesses that have failed to register may be involved in illegal activities. The…

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