The Central Bank of Nigeria (CBN) says it has not prohibited the acceptance of foreign currency cash deposits by Deposit Money Banks (DMBs). The CBN Director, Corporate Communications, Mr Issac Okorafor made the clarification while speaking to newsmen in Abuja on Sunday. A domiciliary account is a type of current account that allows you to fund it with foreign currencies such as dollars, pounds or euros and enables you to do foreign transactions on that...

The Enugu State House of Assembly today urged the Federal Ministry of Power to review the monopoly enjoyed by the Enugu Electricity Distribution Company (EEDC). The lawmakers called for electricity deregulation which will deliver better benefits to the consumers, including lower prices and more efficient services. The lawmakers insist that deregulation will reduce EEDC monopoly control of power distribution, which will in turn benefit consumers – lowering prices while expanding services and giving the public...

Dealers and buyers of used clothes, popularly known as “Okirika” on Tuesday attributed durability of the clothes, especially ladies’ underwear, for the increasing boom in the business. Those who spoke with the News Agency of Nigeria (NAN) at the various selling points in Lagos said that no new pant, girdle, tight, bra, boxer-shot, singlet, among others, that could be compared to the used stuff. The dealers told NAN that the Okirika business had come to...

In a bid to secure the lives and properties of citizens, the Enugu State House of Assembly has directed Enugu Capital Territory Development Authority (ECTDA) and Town planning authorities to stop approval or renewal of license for cooking gas installation within filling stations in the state. The resolution was based on the recommendations as presented by Emma Ugwuerua, Chairman House Committee on judiciary, public petitions, ethics and privileges, to the House based on the committees’...