All posts by BusinessNews Staff

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  BEDC wins CBN cashless payment award

  Benin Electricity Distribution Plc says it has emerged as the first electricity distribution company to win in the maiden edition of the Electronic Payments Incentives Scheme Efficiency Award. The company said it came top in the corporate...

  • Posted March 2, 2016
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  18 stocks boost market performance by N117bn

  The Nigerian stock market soared by N117bn on Monday after 18 stocks recorded significant appreciation on their market prices. Dangote Cement Plc, Ecobank Transnational Incorporated, Fidson Healthcare Plc, Mobil Oil Nigeria Plc and Tiger Branded Consumer Goods...

  • Posted March 2, 2016
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  African firms to launch more IPOs

  African companies are likely to launch more than a dozen initial public offerings this year, defying commodity price drops and capital flight from emerging markets, Baker & McKenzie has said If transactions in the pipeline are concluded,...

  • Posted March 2, 2016
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  Probe PPPRA’s activities now – PENGASSAN tells EFCC, others

  Senior oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have requested the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies to probe the activities of the...

  • Posted March 2, 2016
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  Discos to pay full invoices with new tariffs – Wonodi

  The Managing Director of the Nigerian Bulk Electricity Trading (NBET) Plc, Mr. Rumundaka Wonodi has said that with the new tariffs that took effect from February 1, 2016, the electricity distribution companies in the country would henecforth...

  • Posted March 2, 2016
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  Private equity builds African war chest amid commodity rout

  Private-equity companies amassed a $4.3 billion war chest for investment opportunities in Africa last year as the global commodity rout and weakening local currencies cut prices of potential target companies. The fundraising was the highest since at...

  • Posted March 2, 2016
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  Nigeria’s GDP growth of $594.26bn is jobless growth – CIBN boss

  The 1st Vice President of the Chartered Institute of Bankers of Nigeria (CIBN), Mr. Segun Ajibola has stated that Nigeria’s Gross Domestic Product (GDP) growth of $594.26 billion, which made the country the largest economy in Africa...

  • Posted March 2, 2016
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  Zenith Bank takes lead in forex allocation from CBN

  Bank returns on the utilisation of foreign exchange bought by commercial banks from the Central Bank of Nigeria (CBN) last week have shown that Zenith Bank Plc with $23,006,130.65 reported the highest amount of forex purchased for...

  • Posted March 1, 2016
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  Power supply drops to 2,665MW due to rxplosions, gas constraint

  Inadequate supply of gas to the power station and explosions at transmission lines in the Lagos area and Jebba have resulted in a drop in electricity generation to 2,665MW, THISDAY has learnt. THISDAY gathered that with this...

  • Posted March 1, 2016
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  Value of mobile money transactions rises to N40bn monthly

  With the growing adoption of the cashless policy and increased patronage of mobile money, the Central bank of Nigeria (CBN) has put the value of transactions recorded through mobile money platform at N40 billion monthly. The Chairman...

  • Posted March 1, 2016
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