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All posts by BusinessNews Staff

  • Stocks rebound, erase last week’s N114bn loss

    Stocks on the Nigerian Stock Exchange rallied on Monday to lift the market capitalisation of the listed equities by N132bn or 1.29 per cent from N10.253tn to N10.385tn, erasing last week’s loss. Across the five trading sessions...

    • Posted October 21, 2015
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  • Transport union plans mega filling stations

    The National Union of Road Transport Workers, Lagos Council, is worried about the intermittent fuel crisis in the country, which often disrupts the operation of its members and the economy of the nation. It has, therefore, commenced...

    • Posted October 21, 2015
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  • Nigeria lost $1.1bn to lack of transparency – Malabu

    A lack of beneficial ownership transparency in the oil and gas industry led to the loss of $1.1bn to a single deal by Nigeria, an international watchdog, Global Witness, has said in a new report. The report...

    • Posted October 21, 2015
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  • Goods clearance at Lagos ports requires 110 signatures – Manufacturers

    Manufacturers in the country have said that the process of clearing cargo at the two major seaports in Lagos requires a combination of 110 signatures. According to them, before a manufacturer can get his raw materials out...

    • Posted October 21, 2015
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  • Foreign oil and gas investors are watching Nigeria – Lawhead

    The Managing Director of Oil and Gas Council, a global business network for senior oil and gas executives, Mr. Drake Lawhead has stated that foreign investors in the oil and gas industry are currently watching Nigeria, stressing...

    • Posted October 21, 2015
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  • Capital Market registrars advised to strategise for survival

    Capital market registrars have been enjoined to re-define their business models and re-strategise for survival. The President/Chairman of Council, Institute of Capital Market Registrars (ICMR), Mr. Bayo Olugbemi made the call last week during the annual general...

    • Posted October 20, 2015
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  • Dangote, Oshiomhole, Ganduje, others for New Telegraph Economic Summit

    Three governors, Mr. Adams Oshiomhole (Edo), Alhaji Abdullahi Ganduje (Kano) and Chief Dave Umahi (Ebonyi) as well as President, Dangote Group, Alhaji Aliko Dangote, are among dignitaries to participate in the maiden edition of New Telegraph Economic...

    • Posted October 20, 2015
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  • SIM registration: Mobile operators risk punishment

    The Nigerian Communications Commission will soon announce new sanctions for telecommunications operators who allow preregistered Subscriber Identification Module cards on their networks, investigation has shown. It was learnt that some mobile operators had allowed preregistered SIMs on...

    • Posted October 20, 2015
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  • Refineries operated at 10% capacity in August, recorded N31.7bn loss

    Despite earlier claims of robust performance by the management of Nigeria’s three refineries in Port Harcourt, Warri and Kaduna, the refineries actually recorded average capacity utilisation of 10.04 per cent, according to the monthly financial and operations...

    • Posted October 20, 2015
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  • NDIC identifies poor funding as major impediment to growth of MSMEs

    The Nigeria Deposit Insurance Corporation (NDIC) has said that inadequate funds have continued to hamper the operational efficiency of micro, small and medium enterprises (MSMES) in Nigeria. The corporation said amidst the myriads of challenges facing the...

    • Posted October 20, 2015
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