All posts by BusinessNews Staff

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  Dow, S&P 500 slip

  The Dow and S&P 500 eased off of record highs in early trade Tuesday, as strong United States housing data was offset by disappointing Walmart earnings. The AFP reported that bout 30 minutes into trade, the Dow...

  • Posted May 20, 2015
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  UMBL links savings culture to economic growth

  United Mortgage Bank Limited has emphasised the importance of savings culture, saying it will enhance economic growth among other benefits. In its drive to promote savings culture, the lender said it had introduced three new products aimed...

  • Posted May 20, 2015
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  Accion MFB to expand operations

  Accion Microfinance Bank says it is set to boost its expansion plans by extending its branch network to 10 states of the federation and Abuja, starting from Port Harcourt. The Chairman, Board of Directors, Mr. Patrick Akinwuntan,...

  • Posted May 20, 2015
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  IFC, SECO introduce corporate governance programme

  The International Finance Corporation, a member of the World Bank Group, says it has collaborated with the State Secretariat for Economic Affairs, Switzerland to introduce the Africa Corporate Governance Programme to Nigerian companies. A statement by the...

  • Posted May 20, 2015
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  Foreign exchange reserves rise by 1.05 per cent by May 15

  Nigeria’s foreign exchange reserves rose marginally by 1.05 percent month-on-month to $29.80 billion by May 15 from $29.49 billion a month earlier, data from the central bank showed on Tuesday. The forex reserves of Africa’s biggest economy...

  • Posted May 20, 2015
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  Dollarisation: Banks peg domiciliary account balance at $10,000

  In an apparent move to check the trending dollarisation of the Nigerian economy and cut down huge dollar liquidity in the system, banks are now directing their customers to keep to a maximum of $10,000 balance in...

  • Posted May 20, 2015
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  Nigeria’s first sugarcane bio-factory begins operations

  The Federal Government on Monday inaugurated Nigeria’s first sugarcane bio-factory in Zaria, Kaduna State, as part of efforts to achieve national self-sufficiency in the nation’s sugar requirements. Olusegun Aganga, the minister of industry, trade and investment, said...

  • Posted May 20, 2015
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  CBN amends commercial agric credit scheme guidelines

  The Central Bank of Nigeria (CBN) says it has revised the Commercial Agriculture Credit Scheme (CACS) introduced in April 2010. The amendment is contained in a circular issued by Mr Kelvin Amugo, the Director, Financial Policy and...

  • Posted May 20, 2015
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  RenCap, stakeholders see huge investment opportunities in Nigeria

  Renaissance Capital, a leading emerging and frontier investment bank, and other stakeholders in the capital market have said the long-term potential of Nigeria and some other African countries is huge with great investment opportunities for investors. The...

  • Posted May 19, 2015
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  Skye Bank declares N6.2bn Q1 profit

  Skye Bank Plc has posted a profit before tax of N6.2bn for the first quarter of 2015. The figure is 82 per cent higher than the N3.4bn pre-tax profit it declared for the corresponding quarter of 2014....

  • Posted May 19, 2015
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