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All posts by BusinessNews Staff

  • Naira to rise further as banks reject dollars

    The United States dollar will further tumble against the naira at the parallel market this week as Deposit Money Banks continue to reject cash deposit of foreign currencies into customers’ domiciliary accounts. The naira had appreciated against...

    • Posted August 4, 2015
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  • Nigeria’s airspace radar facility has no back-up – NATCA

    The Nigerian Air Traffic Controllers Association (NATCA) on Sunday alerted the authorities in the country’s aviation sector on the lack of back up of its radar facilities in the country’s airspace. It said the lack of back...

    • Posted August 4, 2015
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  • FG urged to enforce rules to save local manufacturers

    The Managing Director and Chief Executive Officer of Berger Paints Nigeria Plc, Mr. Peter Folikwe has called on the federal government to address the issues of exchange rate of the naira to foreign currencies, infrastructural deficit, multiple...

    • Posted August 4, 2015
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  • N2.32tn NLNG dividend not remitted to Federation Account – NEITI

    The Nigeria Extractive Industries Transparency Initiative on Sunday said the Nigeria Liquefied and Natural Gas Company had not remitted about $11.6bn (N2.32tn) to the Federation Account. NEITI also revealed that the country lost N220bn to crude oil...

    • Posted August 4, 2015
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  • 574,498 Nigerians joined labour market in H1 – NBS

    The National Bureau of Statistics on Sunday said a total of 574,498 active people joined the labour market in the second quarter of this year. It stated this in its second quarter unemployment/underemployment report, which was made...

    • Posted August 4, 2015
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  • PenCom canvasses investment of pension funds in Africa

    The National Pension Commission has said it will continue to promote the investment of pension funds within the African continent in line with the vision of the African Union’s economic development plan tagged ‘Agenda 2063’. A statement...

    • Posted August 4, 2015
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  • Islamic bank to begin operation in South West

    The South-West zonal committee for the operation of Jaiz Bank Plc said the bank would begin operation in Ibadan and other cities in the South-West towards the end of the year after all documents and other logistics...

    • Posted August 4, 2015
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  • Annual premium flight in insurance industry hits N148.5billion

    While stakeholders in the Nigerian insurance industry are celebrating the increase in gross income by 24 per cent to N319 billion ($1.60 billion) from N258 billion in 2013, THISDAY findings have revealed that the annual premium flight...

    • Posted August 4, 2015
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  • FBN Holdings appoint M. K Ahmad to its board

    FBN Holdings Plc., the leading and most diversified financial services group in Nigeria has announced the appointment of Mr. Muhammad K. Ahmad to its Board as a Non-Executive Director. This appointment, apart from deepening the already rich...

    • Posted August 3, 2015
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  • CBN defends naira with $4.9bn in three months

    The efforts by the Central Bank of Nigeria to stabilise the naira at the interbank market depleted the nation’s external reserves by $4.9bn in the first quarter of 2015. According to the CBN, the reserves fell by...

    • Posted August 3, 2015
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