All posts by BusinessNews Staff

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  Firms raise N80.4bn as Commercial Papers Market bounces back

  The revival of the Nigerian commercial papers (CPs) market by the FMDQ OTC Securities Exchange has facilitated the raising of about N80.4 billion by corporates, thereby contributing to the growth of the Nigerian economy. CPs are unsecured...

  • Posted March 1, 2016
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  CPC fines Abuja Disco N10m for boy’s electrocution

  The Consumer Protection Council has ordered the Abuja Electricity Distribution Company to pay the family of an electrocuted boy the sum of N10m for the firm’s alleged technical lapses and negligence. The CPC’s order came on the...

  • Posted March 1, 2016
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  Naira fall: Used vehicle prices soar, sales drop

  These are not the best of times for importers of and dealers in second-hand vehicles due to unexpected low patronage occasioned by the continuing fall in the value of the naira against the United States dollar and...

  • Posted March 1, 2016
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  NCRIB, NIA set to ratify brokers’ commission

  The Nigerian Council of Registered Insurance Brokers and the Nigerian Insurers Association are set to ratify commission rates recommended for insurance brokers. Details of the rates were, however, not disclosed in a statement from the NCRIB, adding...

  • Posted March 1, 2016
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  Banks pay N6.2tn via 13.5 million cheques

  A total of 13.46 million cheques worth N6.19tn were processed by the banking sector in the 2015 fiscal period, figures obtained from the Nigerian Interbank Settlement System have revealed. The NIBSS was set up by the Central...

  • Posted February 29, 2016
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  FG, retirees disagree on 42-month pension arrears

  The alleged failure of the Federal Government to make provision for 42 month pension arrears for its retirees in the 2016 Appropriation Bill has drawn the ire of National Union of Pensioners. The pensioners, which described this...

  • Posted February 29, 2016
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  Shell’s Forcados terminal may remain shut until April

  Nigeria’s oil export revenue, which has been driven down by the plunge in global oil prices, looks set to worsen as flows of the nation’s Forcados crude oil to the export terminal could be halted until April....

  • Posted February 28, 2016
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  Power supply drops by 624MW in three days

  The nation’s power supply slumped by 623.76 megawatts in three days, worsening the rationing that electricity distribution companies have been subjecting consumers to in recent days. The drop in the nation’s electricity generation has caused reduction in...

  • Posted February 28, 2016
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  NIMASA raises hope of ship owners, to revive national shipping line

  The long time cry of indigenous ship owners in the country for revival of the national shipping line may soon be heeded going by the soothing words of Acting Director -General of Nigerian Maritime Administration and Safety...

  • Posted February 28, 2016
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  External reserves recover marginally as crude oil prices rise, CBN targets N200/$ parallel market rate

  Nigeria’s external reserves which had been on a steady decline, rose marginally week-on-week to $27.808 billion as at Wednesday, compared with the $27.790 billion it attained the previous Wednesday, according to the latest figures from the Central...

  • Posted February 28, 2016
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