All posts by BusinessNews Staff

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  48% of banks’ PoS machines dormant — NIBSS

  Forty-eight per cent of Point of Sale machines, acquired by the Deposit Money Banks and given to merchants and business outfits operating in the country in order to enhance the cashless policy, have become dormant, the Nigeria...

  • Posted February 24, 2016
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  Shell declares force majeure on Forcados oil lifting

  Exactly a week after discovering a crude oil spill on water around Forcados Terminal, the Shell Petroleum Development Company of Nigeria Limited has declared force majeure on the lifting of oil from the terminal. The company, in...

  • Posted February 24, 2016
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  UBA bags ISO Certification

  The United Bank for Africa (UBA) Plc said it been awarded the ISO/IEC 20000-1: 2011certification from the British Standards Institution (BSI). The certification, which was awarded to UBA after a process and systems audit, recognises businesses that...

  • Posted February 24, 2016
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  Nigerians urged to see opportunities in crude oil slump

  Nigerians have been advised to see the current economic challenges facing the country as a result of the drop in the price of crude as an opportunity to look inwards. Chief executive officer of Nextnomics, Dr. Temitope...

  • Posted February 24, 2016
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  Oteh tasks FG on oil sector reform

  The Vice President and Treasurer of the World Bank, Ms. Arunma Oteh has called on the federal government to reposition the Nigeria oil and gas industry, stating that the sector has the potential to provide for the...

  • Posted February 24, 2016
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  Finance Ministry supports States doing business with IDB – Adeosun

  The Minister of Finance, Mrs. Kemi Adeosun, has stated that the role of her ministry was to support the various states in the country wanting  to do business with the Islamic Development Bank (IDB). Her explanation followed...

  • Posted February 24, 2016
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  NIBSS to reward banks, others for electronic transactions

  The Nigeria Interbank Settlement System (NIBSS) will on Thursday reward banks, merchants and other stakeholders that have been driving electronic banking channels in the country. Managing Director, NIBSS, Mr. Adebisi Shonubi, who said this while briefing journalists...

  • Posted February 24, 2016
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  We will increase oil production for domestic use — Kachikwu

  Nigeria will keep striving to increase crude oil production to meet local demand and not to essentially sell it in the international market, the Minister of State for Petroleum Resources and Group Managing Director of the Nigerian...

  • Posted February 23, 2016
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  Dollar scarcity: 40,000 jobs threatened, food prices soar

  The scarcity of foreign currencies in the country, especially the dollar, which has made it difficult for manufacturers of essential food items to import raw materials into the country, is threatening about 40,000 jobs. Investigations by our...

  • Posted February 23, 2016
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  IAAG, FRSC mobilise against fake motor insurance

  The Sector Commander, Federal Road Safety Corps, Lagos, Hyginus Omeje, has said the body is collaborating with the Insurance Awareness and Advocacy Group to stop motorists from using fake insurance. During the commencement of road safety and...

  • Posted February 23, 2016
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