All posts by BusinessNews Staff

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  Skye Bank to raise $250million in share sale

  Skye Bank Plc, the Nigerian lender that sold bonds last week, said it plans to raise as much as N50 billion ($250 million) by selling stock this year as it seeks to boost liquidity and fund operations....

  • Posted April 1, 2015
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  Equities rise despite election fever

  Equities listed on the Nigerian Stock Exchange recorded significant gains on Monday amid anxiety over the outcome of the presidential and National Assembly elections. At the close of trading, the market capitalisation of the listed equities rose...

  • Posted April 1, 2015
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  FG expects massive cuts in MSMEs expenditure on electricity

  The federal government has said that it expects to see Micro, Small and Medium Enterprises (MSMEs) across the country spend less of their income on electricity as it begins to commission for operation power plants constructed under...

  • Posted April 1, 2015
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  Why NERC excluded residential consumers from 50% tariff reduction

  The Nigerian Electricity Regulatory Commission (NERC) has given concrete reasons why it excluded electricity consumers on the Residential 1 and 2 (R1 and 2) tariff cadre from enjoying the average 50 per cent slash in electricity tariff...

  • Posted April 1, 2015
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  Total completes $1bn Nigerian asset sale

  French oil major, Total, has completed the divestment of its stakes in three onshore Nigerian oil blocks, with sale proceeds amounting to over $1bn. The divested assets are Oil Mining Leases 18, 24 and 29, the company...

  • Posted April 1, 2015
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  NAICOM, fire service to enforce public building insurance

  The National Insurance Commission has concluded plans to set up a joint committee with the Federal Fire Service to ensure the implementation and enforcement of Section 65 of the Insurance Act, 2003 on the insurance of public...

  • Posted April 1, 2015
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  No dividend on Sovereign Wealth Fund till 2017

  The Nigerian Sovereign Investment Authority on Monday said it would not pay dividend on the Sovereign Wealth Fund until the end of the 2017 financial year. The Managing Director and Chief Executive Officer, NSIA, Mr. Uche Orji,...

  • Posted April 1, 2015
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  Only two million farmers have insurance cover – NAIC

  About two million Nigerian farmers have adequately insured their agricultural operations and outputs. The Managing Director, Nigerian Agricultural Insurance Corporation, Mr. Bode Opadokun, disclosed this to our correspondent in an exclusive interview. He also said the corporation...

  • Posted April 1, 2015
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  Nigerian bonds, stocks rally as observers see voting as peaceful

  Nigerian bonds extended a rally, sending Eurobond yields to three-month lows, and stocks rose as voting in elections went more peacefully than anticipated, spurring investors to buy assets before final results are announced. According to Bloomberg, more...

  • Posted April 1, 2015
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  Banks won’t charge customers for BVN cards – NIBSS

  Managing Director of the Nigeria Interbank Settlement System (NIBSS), Mr. Ade Shonubi, has said  bank customers would not be charged for the bank verification number (BVN) cards that would be issued to them after they have completed...

  • Posted March 31, 2015
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