Finance

Finance

NERC Wields Big Stick, Fines Abuja Disco ₦1.69bn For Overbilling Customers

The Nigerian Electricity Regulatory Commission has imposed a fine of ₦1.69bn on Abuja Electricity Distribution Company (AEDC) for overbilling customers. According to NERC, the fine is based on AEDC’s non-compliance with the commission’s previous order on capping estimated billing for electricity consumers. The penalty was contained in documented ‘Order NERC/2024/114’ …

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Wale Edun Allays Fear, Says VAT Remains 7. 5%

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Monday, debunked reports doing the rounds that the rate for Value-Added Tax (VAT) has been upwardly adjusted to 10 per cent from 7.5 per cent. The Minister, in a statement signed by him, affirmed that the VAT …

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