All posts by BusinessNews Staff

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  Questions raised over FRC N1bn IFRS Academy fund

  Questions are being asked as to the appropriateness of alleged keeping of N1 billion meant for International Financial Reporting Standards (IFRS) Academy in current accounts with some first tier banks by the Financial Reporting Council (FRC) contrary...

  • Posted May 11, 2015
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  Sterling Bank’s expansion plans on track – CFO

  Despite current regulatory headwinds, Sterling Bank is on course on the expansion plans unveiled in 2013, and will proceed with the next phase of its growth strategy. Abubakar Suleiman, the bank’s chief financial officer (CFO)/executive director, disclosed...

  • Posted May 11, 2015
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  Power supply drops to 2,345MW

  The country’s power generation has dropped by about 500 megawatts to a record low of 2.391.31MW, while actual supply fell to 2,345.7MW, data obtained from the Presidential Task Force on Power on Friday showed. This is happening...

  • Posted May 10, 2015
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  13 airports to get airfield lighting soon –Minister

  Thirteen of the nation’s airports will be fitted with airfield lighting for improved productivity and enhanced operations very soon, the Minister of Aviation, Mr. Osita Chidoka, has said. A statement by the Federal Airports Authority of Nigeria...

  • Posted May 10, 2015
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  Nigeria records zero per cent in coffee production

  Nigeria has recorded zero per cent in coffee production for the first four months of 2015, even when its growers say the global demand for the nation’s coffee is high. A report obtained on Friday from the...

  • Posted May 10, 2015
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  LASG to generate N1b from 2015 Lagos State Carnival

  Mr Adeogun Adeola, the Chief Organiser of 2015 Lagos State Carnival, has projected that Saturday’s carnival involving elaborate costumes, pomp and pageantry would generate N1 billion to government’s purse. Adeola, also the Special Adviser to the Lagos...

  • Posted May 10, 2015
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  Universal Insurance in a growth spurt as earnings

  spikeUniversal Insurance Plc is in a growth spurt as full year 2014 profit surges 1075 percent amid tough operating environment bedeviling firms in Africa largest economy Nigeria. For the year ended December 2013, Universal Insurance profit after...

  • Posted May 10, 2015
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  NNPC releases N2.36bn for 2015 group life insurance

  In line with the ‘No Premium, No Cover’ policy of the National Insurance Commission (NAICOM), Nigerian National Petroleum Corporation (NNPC) has paid the sum of N2.36 billion for its employees’ group life insurance for 2015, BusinessDay investigation...

  • Posted May 10, 2015
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  BATN Foundation empowers small farm holders

  The British American Tobacco Nigeria (BATN) Foundation on Thursday said that it was empowering small farm holders nationwide to ensure food security in the country. An environmentalist with the foundation, Prof. Chidi Ibe, disclosed this in an...

  • Posted May 10, 2015
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  AMCON: DMBs, CBN to contribute to Banking Sector Resolution Cost Fund

  Deposit money banks (DMBs) in Nigeria will be required to make contributions of 50 basis points of their total assets to the Banking Sector Resolution Cost Fund, the Senate Committee on Banking, Insurance and other Financial Institutions...

  • Posted May 10, 2015
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