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All posts by BusinessNews Staff

  • Fear grips oil industry operators over probes

    There is palpable fear in the Nigeria’s oil and gas industry as strong indications emerged that the ongoing probe will not be restricted to Offshore Processing Agreements (OPAs) and crude oil swaps contracts but will cover other...

    • Posted July 1, 2015
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  • NNPC spent N3.8tn in three years without approval

    The National Economic Council (NEC) has revealed that the Nigerian National Petroleum Corporation (NNPC) spent N3.8 trillion in three years without approval. The latest indictment of NNPC, confirmed the forensic audit report by PricewaterhouseCoopers (PwC) and the...

    • Posted July 1, 2015
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  • Naira drops to 226.5 on new forex rules

    The naira fell to 226.5 on Monday against the United States dollar at the parallel market. The development mean the local currency has lost about 2.8 per cent of its value against the dollar since Wednesday when...

    • Posted July 1, 2015
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  • Nigerian stockbrokers should aim to operate globally – Expert

    A United States-based stockbroker, Mr. Tayo Shebanjo, has urged Nigerian stockbrokers to develop and equip themselves to operate at the highest level by adopting global best practices, among other things, in their activities. Shebanjo, who operated in...

    • Posted July 1, 2015
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  • Exporters get N107.4bn loan from NEXIM Bank

    The Nigerian Export Import Bank on Monday said it had given a total loan of N107.48bn within the last 24 years to Nigerian exporters. The Managing Director, NEXIM Bank, Mr. Robert Orya, gave the figure in Abuja...

    • Posted July 1, 2015
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  • Airtel introduces name tune service

    Airtel Nigeria has introduced two smart services – Airtel Name Tune and the Caller Ring Back Tunes. The Name Tune will avail subscribers the opportunity for their phone calls to be formatted as though picked up by...

    • Posted July 1, 2015
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  • DPR alerts oil marketers of imposters

    The Department of Petroleum Resources (DPR) has disclosed that its regulatory integrity is currently being threatened by activities of persons who now parade themselves as officials of the agency to extort and defraud operators of filling stations...

    • Posted July 1, 2015
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  • How to prevent crisis which crippled banks in 2009 – Umaru Ibrahim

    The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has said devoting greater attention to sound corporate governance practices would be handy, preventing the kind of systemic crisis which rocked the banking sector in...

    • Posted June 30, 2015
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  • Labour demands prosecution of oil marketers indicted for subsidy fraud

    Organised labour in Nigeria has called on President Muhammadu Buhari to prosecute all the oil marketers indicted for various subsidy infractions. It also reiterated its opposition to the removal of fuel subsidy. In a joint statement signed...

    • Posted June 30, 2015
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  • Banks may deny 14.6 million customers services by Wednesday

    Barring any last minute extension by the Bankers’ Committee of the Central Bank of Nigeria, Deposit Money Banks will on Wednesday start to deny about 14.6 million customers from enjoying banking services over their failure to obtain...

    • Posted June 30, 2015
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