All posts by BusinessNews Staff

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  Africa will need 22,000 pilots in 20 years – Boeing

  Aircraft manufacturing giant, Boeing, has predicted that Africa will need  about 22,000 new pilots and 24,000 new technicians by 2035. In a statement on their website, Boeing added that a total of 1.5 million new pilots and...

  • Posted August 4, 2016
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  Cheques can now be paid into savings accounts – CBN

  The Central Bank of Nigeria on Tuesday released four new guidelines for the banking industry, top of which was an approval for bank customers to make cheque deposits into their savings accounts. Prior to this development, bank...

  • Posted August 4, 2016
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  Shippers threaten to boycott Nigerian ports over rising duty

  Shippers in the country have threatened to stop using Nigerian seaports to bring in their goods from overseas due to high duties payable on imported goods. The import duties have risen by as much as 60 per...

  • Posted August 4, 2016
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  Customers besiege Diamond Bank branches over trapped monies

  Large number of customers of Cash Flow Abi Limited, whose monies are trapped in Diamond Bank stormed various branches of the bank Tuesday in Minna, Kafanchan, Jos and Lafia, based on text message. The affected customers, were,...

  • Posted August 3, 2016
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  Oil falls to $42 as Barkindo resumes at OPEC

  Global oil benchmark, Brent crude, fell by over three per cent on Monday to around $42 per barrel amid worries about growing glut in the market. A Reuters survey on Friday found that output from the Organisation...

  • Posted August 3, 2016
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  External reserves drop to $26.2bn

  The nation’s external reserves fell marginally to $26.20bn on July 28, down from $26.32 on July 22, data from the Central Bank of Nigeria’s website showed on Monday. Month-on-month, the reserves fell by 0.4 per cent from...

  • Posted August 3, 2016
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  Wema Bank plans N20bn bond issue this month

  Wema Bank Plc, which aims to expand its branch network this year, is planning to issue N20bn ($63m) in bond this month, its Chief Finance Officer, Mr. Tunde Mabawonku, has said. The bank is issuing local currency...

  • Posted August 3, 2016
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  Long Bridge repairs for completion this month – Fashola

  The contractor rehabilitating the Long Bridge at the Lagos end of the Lagos-Ibadan Expressway, Julius Berger Nigeria Plc, has promised to complete the task before the end of this month, the Federal Government has said. It also...

  • Posted August 3, 2016
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  Lagos to disburse N25bn employment fund in September

  Lagos State Government has said that the disbursement of N6.25billion being the first tranche of N25 billion, Employment Trust Fund, ETF, to beneficiaries would finally commence in September, 2016, aimed at stimulating the Small and Medium-sized Enterprises...

  • Posted August 2, 2016
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  CBN to mop up N245bn as cost of funds falls by 50%

  The Central Bank of Nigeria (CBN) will this week mop up N245 billion from the interbank money market in a bid to reduce money supply in the economy. Meanwhile, cost of funds in the interbank money market...

  • Posted August 2, 2016
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