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 Business News:
Nigeria: (Apr 21, 2017) - The naira sustained its momentum on the parallel market yesterday, appreciating significantly by N20 in one day to close at N380 to the dollar, stronger than N400 to the greenback at...
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Nigeria: (Apr 20, 2017) - The Central Bank of Nigeria (CBN) on Wednesday carried out another intervention in the interbank forex market by offering $100 million to authorised dealers to meet the seven to 15-day...
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Nigeria: (Apr 18, 2017) - Central Bank of Nigeria (CBN), on Monday, said it has introduced Form X in the management of foreign exchange. A statement from Abdul Isa of the bank’s Corporate Communications...
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Nigeria: (Apr 18, 2017) - The former Acting Managing Director, Unity Bank Plc, Mr Rislanudeen Muhammad has said it is practically impossible for a bank to allow an individual withdraw $50 million from their...
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Nigeria: (Apr 15, 2017) - A Chinese-made self-driving truck has passed a navigation test, heralding the era of intelligent, automated heavy vehicles that will be rolled out in 2018. FAW Jiefang, the leading...
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Nigeria: (Apr 13, 2017) - Ghana is performing better than Nigeria when it comes to using Point of Sale (PoS) channel for payments during transactions, a report has revealed. According to Indexmundi, Ghana...
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Nigeria: (Apr 13, 2017) - German multinational company, Beiersdorf Global, announced that it has invested N7 billion in the domestic economy of Nigeria in the last 18 months despite heinous economic crisis and...
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Nigeria: (Apr 12, 2017) - Central Bank of Nigeria (CBN) on Tuesday, made spot sales totaling $100 million to interested SMEs through its newly opened foreign exchange window for small scale importers. Also...
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Nigeria: (Apr 10, 2017) - The Bakehouse Bakery in Kaduna, bakers of Bakehouse Bread,  has laid off 25 of its workers due to rising price of flour. Its Manager, Malam Mohmoud Modibbo, told the News Agency...
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Nigeria: (Apr 10, 2017) - The United Bank for Africa (UBA) has distributed N19.9 billion as final dividend, in addition to N7.3 billion interim dividend paid after the audit of its 2016 half year results, making...
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Nigeria: (Apr 10, 2017) - Experts at FSDH, a Lagos based research firm have predicted further decline in inflation rate to 16.52 per cent in March 2017. The National Bureau of Statistics (NBS) is expected...
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Nigeria: (Apr 09, 2017) - Multi-billionaire businessman and Africa's richest man, Alhaji Aliko Dangote will on Monday, 10th April, joins the Diamond age, and President Muhammadu Buhari, has showered encomium...
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Nigeria: (Apr 07, 2017) - Dangote Flour Mills Plc said it has achieved a profit before tax of N11.82 billion for its financial year ended December 31, 2016. In its result on the Nigerian Stock Exchange (NSE),...
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Nigeria: (Apr 06, 2017) - The Nigerian National Petroleum Corporation, NNPC says that the recent increase in bridging allowance to transporters from N6.20 to N7.20 per litre will not lead to an increase in the...
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Nigeria: (Apr 05, 2017) - The Debt Management Office, DMO, yesterday, announced plans to raise N460 billion through Federal Government bonds offer in the second quarter of the year. The agency disclosed this...
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Nigeria: (Apr 04, 2017) - The Central Bank of Nigeria (CBN) on Monday injected an additional $240 million into the foreign exchange (FX) market. A breakdown of the intervention by the central bank showed...
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Nigeria: (Apr 04, 2017) - The Standards Organisation of Nigeria has given a two week ultimatum to all owners of liquefied petroleum gas (LPG) storage tanks Nationwide to commence the process of SON certification...
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Nigeria: (Apr 04, 2017) - The Renewable Energy Association of Nigeria (REAN) has advocated the provision  of  a zero per cent Value Added Tax (VAT) on all Distributed Renewable  Energy Products...
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Nigeria: (Apr 04, 2017) - The Managing Director, Fortis Microfinance Bank (MFB), Mr Tiko Okoye expressed concern over the members on the board of the the Development Bank of Nigeria (DBN), as it has no SME or...
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Nigeria: (Apr 04, 2017) - President Muhammadu Buhari has asked the ministers of finance, budget and national planning and the Central Bank of Nigeria (CBN) to sort out the technical details of a ‎$4.5billion...
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Nigeria: (Apr 03, 2017) - Despite the continuous injection of Dollars into the foreign exchange market by the Central Bank of Nigeria (CBN), the value of the Naira dropped last week at the parallel market. The...
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Nigeria: (Apr 03, 2017) - The Central Bank of Nigeria (CBN) yesterday reiterated its determination to sustain the provision of foreign exchange with a view to ensuring liquidity in the market and enhance accessibility...
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Nigeria: (Apr 02, 2017) - Business mogul and Group Managing Director of Capital Oil and Gas Limited, Mr. Ifeanyi Ubah, is still in the custody of the Department of State Services, a week after he was arrested, ...
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Nigeria: (Apr 01, 2017) - The Central Bank of Nigeria (CBN) has released an emergency mobile phone line and email address for customers denied access to foreign exchange by commercial banks for medical bill...
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Nigeria: (Mar 31, 2017) - The International Monetary Fund (IMF) has given Nigeria’s economic recovery plan a pass mark, commending efforts made by government to reduce vulnerabilities and enhance resilience. The...
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Nigeria: (Mar 31, 2017) - Nigeria’s oversubscribed Eurobond on Wednesday showed that investors will flock to the country’s dollar assets. But when it comes to naira ones, they’re staying well...
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Nigeria: (Mar 30, 2017) - The Development Bank of Nigeria (DBN) has been issued licence by the Central Bank of Nigeria to begin operations. The bank was established to support small-scale businesses, with...
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Nigeria: (Mar 27, 2017) - The Central bank of Nigeria, CBN, on Monday directed all banks to immediately commence the sale of foreign exchange to their customers at not more than N360 to the dollar. The spokesperson...
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Nigeria: (Mar 23, 2017) - Perhaps at no time in the history of Nigeria has the federal government come under such intense pressure to deliver on the economy as now, and this is understandable. 2016 closed with...
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Nigeria: (Mar 22, 2017) - All is now set for Innoson Motors to establish a world class manufacturing plant in Uyo, the capital of Akwa Ibom State. This was confirmed as the Special Adviser to the President...
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Nigeria: (Mar 22, 2017) - Federal Government, State Governments and Local Government Councils have received a total of N429.127 billion as federal allocation for the month of February 2017. The communiqué...
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Nigeria: (Mar 22, 2017) - The Central Bank of Nigeria (CBN) has maintained official interbank interest rate at 14 per cent; citing recent economic indicators are supporting variables behind the decision. Rising...
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Nigeria: (Mar 21, 2017) - Forbes, revered financial magazine, says there are only three dollar-billionaires left in Nigeria; Aliko Dangote, Africa’s richest man; Folorunsho Alakija, the world’s second...
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Nigeria: (Mar 20, 2017) - The Naira is set to appreciate further in the week as the Central Bank of Nigeria (CBN) plans to inject more Foreign Exchange (Forex) into the market to meet the requests of genuine...
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Nigeria: (Mar 20, 2017) - The Naira on Monday continued to extend its gains against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports.   The Nigerian currency exchanged at...
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Nigeria: (Mar 19, 2017) - feanyi Ubah, chairman of  Capital Oil and Gas Industries Ltd, has denied the allegation that his company is owing the Nigerian National Petroleum Corporation (NNPC), saying the...
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Nigeria: (Mar 18, 2017) - The Nigerian National Petroleum Corporation (NNPC) yesterday, stated that it would take full measures, including inviting the Department of State Security (DSS) and Economic and Financial...
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Nigeria: (Mar 17, 2017) - The World Bank Group, yesterday, has stated that Nigeria will soon recover from its current economic recession. Mrs. Eme Essien-Lore, the Country Manager in Nigeria, International...
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Nigeria: (Mar 15, 2017) - With his opinion that telecommunications has great potentials to contribute up to 10 per cent of a country’s Gross Domestic Product (GDP), the Minister of Communications, Mr Adebayo...
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Nigeria: (Mar 14, 2017) - The Nigerian equities market, yesterday, shed 0.40 per cent to kick off the week. The All-Share Index (ASI) shed 101.38 absolute points, representing a dip of 0.40 per cent to close...
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Nigeria: (Mar 13, 2017) - The Central bank of Nigeria (CBN) also known as the Apex bank is set to aid Naira’s rise by pumping more dollars because the Naira was traded at 455 to a dollar amid liquidity...
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Nigeria: (Mar 13, 2017) - As the World Wide Web marks its 28th years in existence, its inventor, Sir Tim Berners-Lee, says that the web has lived up to its vision but wants action against fake news. Berners-Lee...
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Nigeria: (Mar 12, 2017) - Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday, attributed the pressures on exchange rate in the parallel market to illegal and criminal activities of some...
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Nigeria: (Mar 11, 2017) - The European Commission has announced its continued support to the African continent by promoting renewables through the Africa Renewable Energy Initiative. The Commission said this...
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Nigeria: (Mar 11, 2017) - Following a breakthrough in its negotiations with three Nigerian banks that threatened to take over the business over a $1.72 billion (about N541.8 billion) loan, Mobile telecoms operator,...
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Nigeria: (Mar 09, 2017) - The United Nations Industrial Development Organization (UNIDO) yesterday, unveiled a new $3 million project that will develop entrepreneurship curriculum for senior secondary schools...
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Nigeria: (Mar 06, 2017) - The Central Bank of Nigeria (CBN) has threatened to bar authorised dealers in foreign exchange (forex) who fail to comply with its new directive on foreign exchange transactions. A...
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Nigeria: (Mar 01, 2017) - The economy is on its way out of recession, considering the 2016 overall and last quarter Gross Domestic Product (GDP) figures released yesterday by the National Bureau of Statistics...
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Nigeria: (Mar 01, 2017) - The Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Mr Mohammed Barkindo, has revealed that member countries have lost one trillion dollars’ worth...
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Nigeria: (Mar 01, 2017) - The Democratic People’s Congress (DPC) has urged the Central Bank of Nigeria, Governor, Dr. Godwin Emefiele and Minister of Finance, Mrs. Kemi Adeosun to avoid monetary policies...
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Nigeria: (Feb 28, 2017) - he Federal Government has endorsed plan to build a $20 billion gas revolution industrial park in Odigigben, Delta State. Acting President Yemi Osinbajo disclosed this at the Aso...
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Nigeria: (Feb 26, 2017) - Mohit Goel, the director of Ringing Bells, the Indian firm which claimed to be selling the world’s cheapest smartphone, has been arrested on allegations of fraud. The Indian...
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Nigeria: (Feb 24, 2017) - The federal government is yet to pay over N300 billion subsidy claims of major oil marketers for fuel imports between 2014-2015, says Akin Akinfemiwa, group chief executive officer...
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Nigeria: (Feb 23, 2017) - The new foreign exchange policy actions introduced by the Central Bank of Nigeria (CBN) saw the naira extending its gains on the parallel market yesterday, appreciating significantly...
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Nigeria: (Feb 22, 2017) - Nigeria wants to borrow at least $1 billion from the World Bank and to sign within months for a $1.3 billion loan from China to fund railway projects, Finance Minister Kemi Adeosun...
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Nigeria: (Feb 18, 2017) - Owing to austerity measures in the county, Nigeria has dropped to the fourth position as China’s trade partner in Africa from its former second position, the Chinese Ambassador...
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Nigeria: (Feb 15, 2017) - Following the closure of 20,000 bank accounts belonging to Federal ministries, departments and agencies, about N5.244 trillion has accrued to the Treasury Single Account (TSA) of the...
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Nigeria: (Feb 14, 2017) - The Asset Management Corporation of Nigeria (AMCON) has taken over Odengene Air-Shuttle Services (OAS) Helicopters in Lagos. This comes five days after the agency took over Arik...
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Nigeria: (Feb 14, 2017) - As part of measures to exit the current economic recession, the Federal Government, yesterday, unveiled plans to float a Savings Bond to mobilise more resources from the general public,...
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Nigeria: (Feb 12, 2017) - For Arik Air to come back to full operations, the management of the carrier needs to clean the Agean stable as they would require N10 billion to do so. This was the view of the new...
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Nigeria: (Feb 11, 2017) - Forty-five members of the UK parliament are suggesting that the country reconfigure its border control system to give preference to citizens from Commonwealth countries. Nigeria...
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Nigeria: (Feb 10, 2017) - Hundreds of passengers on Thursday escaped death when one of the tyres of a Dubai-bound Qatar Airways aircraft burst while it was attempting to take-off at the Murtala Muhammed International...
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Nigeria: (Feb 08, 2017) - Over the fine slammed on MTN by the Nigerian government, MTN Group expects to report a full-year loss due to a $1bn regulatory fine in Nigeria and for under-performance both in Nigeria...
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Nigeria: (Feb 06, 2017) - Goddy Egene writes that given the challenging environment, it is better for the Debt Management Office to begin strategising on how to successfully finance the deficit in the 2017 budget. All...
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Nigeria: (Feb 06, 2017) - Owing to their brand values, First Bank of Nigeria Limited, Zenith Bank Plc, Guaranty Trust Bank Plc (GTBank), United Bank for Africa (UBA) Plc and Access Bank Plc have been named among...
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Nigeria: (Feb 03, 2017) - In view of the recession Nigeria is experiencing, the Director-General, Standards Organisation of Nigeria (SON), Mr Osita Aboloma, has described quality assurance (QA) as a critical...
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Nigeria: (Feb 03, 2017) - The National Youth Council of Nigeria (NYCN), says it has mobilised no fewer than 15,000 Nigerian youths to welcome President Muhammadu Buhari at the Nnamdi Azikiwe International Airport...
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Nigeria: (Feb 02, 2017) - The Federal Executive Council (FEC) yesterday approved a new tax regime, just as it announced its intention to raise taxes on luxury goods. Also yesterday, the council constituted...
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Nigeria: (Feb 01, 2017) - Women for centuries have endured various forms of discrimination and prejudice. Many societies consider females inferior to males, as men are seen as more important figures, while women...
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Nigeria: (Jan 29, 2017) - Ant Financial, the digital payments arm of e-commerce giant Alibaba, is buying US-based MoneyGram for $880m (£700m). MoneyGram has about 350,000 outlets in nearly 200 countries....
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Nigeria: (Jan 27, 2017) -   The Lagos State Government on Thursday launched a mobile app to facilitate interaction and provision of services between government and the citizens from the comfort of their...
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Nigeria: (Jan 27, 2017) - The Executive Director of Nigerian Export Promotion council (NEPC), Segun Awolowo has revealed that the country lost over $30 billion due to fall in crude export in 2015. Awolowo...
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Nigeria: (Jan 26, 2017) - Legacy is a concept every human approaches with different perspectives. Some strive to build a legacy, some work to leave behind a legacy; some want to be known for a legacy; while...
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Nigeria: (Jan 25, 2017) - Oil markets have already begun to rebalance after strong signs that producers are complying with output cuts, Kuwait Oil Minister Essam al-Marzouk said on Wednesday. “We are...
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Nigeria: (Jan 24, 2017) - The Nigerian equities market resumed the week on a positive note as the Nigerian Stock Exchange (NSE) All-Share Index ASI appreciated by 0.03 per cent to close at 26,231.37. The...
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Nigeria: (Jan 20, 2017) - The Governor of Central Bank of Nigeria, Mr Godwin Emefiele, yesterday offered insights into the prevailing economic crisis in the country, explaining that it was caused by the nation’s...
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Nigeria: (Jan 20, 2017) - The Economic and Financial Crimes Commission, EFCC, and the Securities and Exchange Commission, SEC, have vowed to take action against fraudulent operators in the Nigerian capital market. The...
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Nigeria: (Jan 20, 2017) - First Bank of Nigeria Limited has provided another financial solution to promote convenience and support the lifestyles of its customers. A statement from the lender said through...
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Nigeria: (Jan 20, 2017) - Raymond Sifiso Ndlovu Dabengwa, born in 1958, is Zimbabwean telecoms executive who is based in South Africa. Dabengwa was the Group President and Chief Executive Officer of MTN Group,...
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Nigeria: (Jan 19, 2017) - The National Assembly in Nigeria has passed the 2017-2019 Medium Term Expenditure Framework (MTEF), increasing the oil benchmark price of crude from $42.50 to $44.5 per barrel. The...
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Nigeria: (Jan 18, 2017) - Nigeria’s foreign exchange (forex) reserves have increased to $27.223 billion as at January 16, 2017, according to latest figures on the Central Bank of Nigeria’s (CBN)...
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Nigeria: (Jan 18, 2017) - The Central Bank of Nigeria (CBN) has warned Nigerians against the use of virtual currencies, including bitcoin, ripples, litecoin. CBN in a statement issued on Tuesday, stated that...
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Nigeria: (Jan 17, 2017) - The supply hiccup, which has lately affected the availability of Liquefied Petroleum Gas, otherwise called cooking gas, may soon be over, the Nigerian National Petroleum Corporation...
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Nigeria: (Jan 17, 2017) - Some say that successful entrepreneurs are born and not made. Others argue that good entrepreneurs can be trained and nurtured into achieving success. The truth probably lies somewhere...
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Nigeria: (Jan 16, 2017) - The International Monetary Fund, (IMF), has attributed the double digit inflation rate in Nigeria on the challenges around foreign exchange. In a policy paper on Macro-economic developments...
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Nigeria: (Jan 16, 2017) - A report by Oxfam, an anti-poverty organisation, has revealed that eight men own the same wealth as the 3.6 billion people who make up the poorest half of the world’s population. The...
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Nigeria: (Jan 16, 2017) - South Korea’s special prosecutor is due to decide whether to seek an arrest warrant for Samsung chief Lee Jae-yong. Lee is a suspect in a corruption scandal surrounding South...
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Nigeria: (Jan 16, 2017) - The Head of Research, Nigerian Economic Summit Group (NESG), Dr Olusegun Omisakin, says rising inflation rate in the country has gone beyond the control of Central Bank of Nigeria (CBN). Omisakin...
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Nigeria: (Jan 14, 2017) - Just as some Chinese investors are hedging against the sinking Yuan and restrictions on it with Bitcoin, many Nigerians are thinking of doing so, as well. But the government might not...
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Nigeria: (Jan 13, 2017) - Mavrodi Mondial Moneybox (MMM) in Nigeria has announced that they are open for business, a day earlier than the promised date, January 14, 2017. A ‘freeze’ was put on...
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Nigeria: (Jan 09, 2017) - The naira on Monday appreciated at the parallel market after two weeks of posting losses. The currency gained three points to exchange at N490, from N493 it posted last Friday, while...
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Nigeria: (Jan 06, 2017) - The Central Bank of Nigeria (CBN) sold N172.85 billion at its first Treasury bill sale of the year on Wednesday with yields unchanged from the previous auction, held on December 21,...
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Nigeria: (Jan 06, 2017) - Following the ban place on the importation of vehicles through the land borders by the  Federal Government, the Nigerian Customs Service (NCS), Seme Command, is set to lose 50...
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Nigeria: (Jan 05, 2017) - The Nigerian National Petroleum Corporation (NNPC) has announced the list of 39 successful bidders for the 2017/2018 crude oil term contracts, which includes 18 Nigerian companies,...
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Nigeria: (Jan 04, 2017) - As it may probably unfreeze accounts of its users on January 14, Mavrodi Mondial Movement (MMM) ponzi scheme has released 2017 guidelines for the Nigerian participants. According...
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Nigeria: (Jan 04, 2017) - The Dangote Tomato Processing Factor in Kadawa, Kura Local Government Area of Kano State is to resume production in February. The Managing Director of the company, Abdulkadir Kaita,...
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Nigeria: (Jan 04, 2017) - The Nigerian stock market opened the first trading of the year yesterday on a decline, driven by profit-booking in capitalised stocks. In summary, lead indicator, NSE-ASI shed 257.73...
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Nigeria: (Jan 03, 2017) - “Entrepreneurs are people who have the natural ability to seek opportunities that will lead them to excel. They tend to start small by running a hands-on business and then grow...
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Nigeria: (Jan 03, 2017) - THE Nigerian Stock Exchange, NSE, has removed Diamond Bank Plc, Fidelity Bank Plc and Sterling Bank Plc from the NSE 30 index following the bi-annual review of the indices. The review,...
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Nigeria: (Dec 31, 2016) - The founder of Facebook has found religion, it seems, according to a cheery holiday message he posted on the social network he created. On Christmas Day, Zuckerberg indicated in...
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