Power distributors owe market operator N165bn

The total debt electricity distribution companies owe operator of the Nigerian electricity market , otherwise known as market operator , has risen to N165 . 21 bn. Latest data obtained from the MO , an arm of the Transmission Company of Nigeria , showed that the debt or shortfall , in terms of stipulated remittances…

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Dangote still Africa’s richest with $12.2b net worth

President of Dangote Industries Alhaji Aliko Dangote remains Africa’s richest with a net worth of $12.2billion, according to Forbes. This is an increase of $100 million from his worth when the assessment was done by the influential magazine last year. Dangote is the continental richest for the seventh year in a row. Bill Gates is…

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Fuel marketer buys N496,000 goods with dud cheques

A boutique operator at 5 Education Close , UNILAG Estate , Magodo , Lagos , Mrs. Bola Omidiji , says her business is on the brink of collapse after a customer paid N496 , 000 dud cheques for goods bought from her . The debtor , Babatope Adeeso , had reportedly bought pairs of shoes…

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