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“Stock market upbeat as capitalisation gains N76 billion” The Nigerian Stock Exchange (NSE) closed on an upbeat note on Friday with key indicators appreciating by 0.58 per cent, while volume of transaction rose by 81.85 per cent. The market capitalisation gained N76 billion or 0.58 per cent to close at
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Oil and Gas
“Nigeria, Niger in $ 2b refinery deal” The private sector-driven Niger Republic facilitated approved petroleum refinery in Mashi in Kastina state would cost $2 billion. The planned refinery would have the capacity to produce 150, 000 barrels per day when fully completed in 2021. “Nigeria, Niger in $ 2b refinery
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Africa oil and gas
Excess Crude Account: We must amend Constitution By Ifeanyi Nwoko Shehu Musa Yar’Adua Foundation has advocated the amendment of Section 162 of the 1999 Constitution to include the establishment of the Excess Crude Account (ECA) and also make it automatic for the fund to be domiciled in the Nigeria Sovereign
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Group urges young entrepreneurs to build quality network
The Skye Bank chief executive officer, Mr Tokunbo Abiru has charged the bank’s newly- hired employees on the need to embrace integrity and professionalism as key ingredients for a successful banking career in the era of openness and internet of things. Abiru gave this charge while speaking at the graduation
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Emefele - Forex- CBN approves wider margin of N357 dollar sale for BDC
“CBN To Incentivise Banks On Single Digit Lending To Private Sector” The Central Bank of Nigeria (CBN) would engage deposit money banks (DMBs) in the country to issue commercial papers to meet their credit needs at low interest rates as part of measures to encourage lending to the private sector.
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How FAAC overpaid states N10bn in bailout funds — Auditor-General
Office of the Auditor-General of the Federation has revealed that the Federation Accounts Allocation Committee, FAAC, overpaid states N10bn in bailout funds. President Muhammadu Buhari had approved the release of the funds in 2015 to help governors pay salaries in their various states, a loan facility that the states are
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More winners emerge in Diamondxtra season 10
More winners have emerged in the DiamondXtra Season 10 scheme as the Bank recently unveiled 1,016 winners in the second quarterly draw held at its Asa – Afariogun, Ajao Estate, Lagos branch. More winners emerge in Diamondxtra season 10 Addressing journalists after the draw, Osita Ede, Head Mass Market of
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SMEs to benefit from $750m single digit loan
SMEs to benefit from $750m single digit loan: The Managing Director, Bank of Industry (BOI), Mr. Olukayode Pitan has said the $750m loan facility received by the BOI would be disbursed to Micro, Small and Medium Enterprises at single digit interest rate. Managing Director, Bank of Industry (BoI), Mr. Olukayode
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Firm lifts local content in maritime, energy
“Nigeria, others to spend $105b on oil, gas decommissioning” Nigeria and other oil producing countries across the world will expend about $105b on decommissioning in the next 10 years. According to a recent report release by Wood Mackenzie otherwise called WoodMac, between 2018 and 2022, noting less than $32 billion
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Elumelu Honour outstanding Nigerian entrepreneur
“Elumelu Honour outstanding Nigerian entrepreneur” Nigeria’s first online newspaper/TV for entrepreneurs, ‘Make it’, has announced Tony Elumelu as the winner of its maiden Entrepreneur of the Month award. Elumelu is the chairman of United Bank for Africa, Heirs Holdings, Transcorp and numerous other companies. READ MORE: NANTS: Nigeria-China Currency Swap, Commendable,
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CBN Forex Market
CBN orders banks to refund N65bn to Nigerians: The Central Bank of Nigeria (CBN) has disclosed that it had ordered banks to refund N65billion to Nigerians. “We have recovered and returned to customers over N65bn out of complaints by people over acts of treatment on customers, wrong charges, wrong deductions
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TOP 10 FORBES LIST: Man Utd ahead of Real Madrid, Barcelona as Forbes names most valuable sports teams [See top 10]
TOP 10 FORBES LIST: Manchester United are the second most valuable sports team in the world according to Forbes. The Premier League club are worth an incredible £3.16 billion according to the magazine. TOP 10 FORBES LIST: Man Utd ahead of Real Madrid, Barcelona as Forbes names most valuable sports
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SEC advises investors on shares, warns against ponzi schemes - Mary Uduk, Acting Director-General of SEC [Photo credit: Voice of Nigeria]
SEC advises investors on shares, warns against ponzi schemes: The Securities and Exchange Commission (SEC) has again warned against investment in ponzi schemes and assured Nigerians that it would strengthen the capital market toward an enhanced investors’ value. SEC advises investors on shares, warns against ponzi schemes – Mary Uduk,
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Controversy trails resumption, re-suspension of trading on Oando shares
Senate approves N348b subsidy payment to 74 oil marketers: The Senate has approved the payment of N348 billion as outstanding subsidy claims to 74 petroleum marketers. Some of the Oil Marketing Companies (OMC) are, Oando, Total, Honey Well, Capital Oil, Conoil, A.A. Rano, Folawiyo and Eternal oil. READ MORE: ‘Nigeria’s export
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New cement factory to provide 12,000 jobs — BUA CEO, Rabiu
New cement factory to provide 12,000 jobs — BUA CEO, Rabiu, The BUA Group chairman, Abdulsamad Rabiu, has described the 1.5 million metric tonnes per-annum Kalambaina cement factory commissioned by Vice President Yemi Osinbajo on Tuesday as a “statement in innovation.” Mr Rabiu said the $350 million factory will provide
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DMO DG
…Treasury Bills issuance reduced by half …External borrowing boosts reserves by $6bn …N830bn injected to local market DMO DG: How FG’s debt strategy boosts liquidity for real sector: Going to the international capital market to borrow is a deliberate policy to help Nigeria boost its external reserves, reduce interest rate
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The Securities and Exchange Commission, SEC has restated its dedication to collaborate with relevant stakeholders to further develop and deepen the capital market. The Ag. Director General of the SEC, Ms Mary Uduk stated this when members of the association of Stockbroking Houses of Nigeria (ASHON) met with Management of
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Controversy trails resumption, re-suspension of trading on Oando shares
Oando: London court orders Tinubu firms to pay $680m debt: A fresh twist emerged in the Oando Plc crisis following an order by the London Court of International Arbitration (LCIA) which directed the two companies owned by the Chief Executive Officer of Oando Plc, Mr. Wale Tinubu and his deputy,
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Mahindra & Mahindra Limited
Mahindra & Mahindra Limited with its channel partners in Nigeria, Springfield Agro Ltd., and VIP Merchandise Enterprise Ltd. Have unveiled its plans for scaling up and expanding operations in Nigeria; offering customized and focused solutions in the areas of agriculture and farm-tech prosperity, mobility and power generation. For years, Mahindra
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Group urges young entrepreneurs to build quality network
Group urges young entrepreneurs to build quality network: Former Cross River State Governor, Senator Liyel Imoke, yesterday told young entrepreneurs that he did not obtain first class or second class upper to get to his political career but by a stint of hardwork. Imoke said this in Calabar while speaking
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