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NEWS

PalmPay resumes onboarding of new customers

PalmPay has announced that it has resumed onboarding users and merchants on its mobile app. A statement issued by PalmPay noted that the development highlighted its commitment to transforming Nigeria’s financial sector with secure, efficient solutions, while closely working with the apex regulatory body. The Managing Director of PalmPay Nigeria, Chika Nwosu, said, “Our commitment to excellence and financial security remains unwavering as we drive financial inclusion. Despite the growing […]

todayJune 11, 2024 4

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BUSINESS

Discos make N1tn amid grid crisis, unmetered customers hit 5.8m

Despite the persistent epileptic power supply nationwide, revenue generation by electricity distribution companies in Nigeria surged to N1.1trn within the 12 months of 2023, a new report has revealed. The figure represents an increase of N234.4bn or 28.2 per cent from the N831bn generated by the power firms over a similar period in 2022. This latest data was disclosed in the electricity report released by the National Bureau of Statistics […]

todayApril 2, 2024 17

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NEWS

Discos overbilled 7.1million customers in nine months – FG

Eko Disco overbilled 371,828 customers under the estimated billing category between January and June 2023, as the months of July, August and September were not captured in the report released by NERC. It overbilled these customers to the tune of N14.13bn. Ibadan Disco made N333.68m from the overbilling of 143,465 customers underestimated billing between January and September last year, while Jos Disco overbilled 1,264,537 customers to the tune of N13.3bn. […]

todayFebruary 12, 2024 32

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