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All posts by BusinessNews Staff

  • Fitch affirms 10 Nigerian Banks’ Ratings

    Fitch Ratings has affirmed the long-term Issuer Default Ratings (IDRs) of 10 Nigerian banks. They are Zenith Bank Plc, FBN Holdings Plc and its subsidiary, First Bank of Nigeria Limited, the United Bank for Africa Plc, Guaranty...

    • Posted February 25, 2015
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  • Equities Market extends gain on positive momentum

    The Nigerian equities market extended its positive momentum for sixth consecutive days on Monday as investors continued with their bargain hunting. The Nigerian Stock Exchange (NSE) All-Share Index (ASI), which jumped by 6.5 per cent last week, ...

    • Posted February 25, 2015
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  • FAAC: FG, States, LGs share N500bn for January

    The Minister of State for Finance, Mr Bashir Yuguda, said that the Federal, states and local government areas shared N500.1 billion revenue for the month of January, 2015. Yuguda made this known when he briefed newsmen on...

    • Posted February 25, 2015
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  • Sale of 10 power plants stalled

    Twelve months after the financial bids for 10 power plants constructed under the National Integrated Power Project were opened, the sale process remains inconclusive. Investigation by our correspondent showed that the Federal Government had yet to resolve...

    • Posted February 25, 2015
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  • Alison-Madueke meets marketers in Lagos to avert fuel crisis

    In a move to avert a looming scarcity of petroleum products in the country, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, on Monday met with the Chief Executive Officers of Oil Marketing and Trading (OM and...

    • Posted February 25, 2015
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  • CBN unveils guidelines on advisory body for Islamic Finance

    As part of efforts to promote non-interest financial services, which is also known as Islamic finance, the Central Bank of Nigeria (CBN) has unveiled the guidelines for the establishment of an advisory body on this form of...

    • Posted February 25, 2015
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  • Oil slump hits marginal field operators

    Marginal field operators, whose fields have yet to start producing either oil or gas since they were awarded licences in 2003, are under increasing pressure from the plunge in oil prices and may lose their licences next...

    • Posted February 25, 2015
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  • Petrol sells for N120 in Calabar

    Residents of Calabar, the capital of Cross River State, woke up on Sunday and Monday to a new regime of petrol scarcity. Almost all the filling stations owned by independent marketers in the city remained shut, while...

    • Posted February 25, 2015
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  • Austerity measures, a waste of time – Rewane

    Renowned financial expert and Managing Director, Financial Derivatives Company Limited, Mr. Bismarck Rewane, in this interview with ‘FEMI ASU, speaks about the financial markets, the fate of the naira and sundry issues What were your thoughts about...

    • Posted February 25, 2015
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  • Rice: FG targets extra 2.9 million metric tonnes

    The Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, has said about 2.9 million metric tonnes of high quality milled rice will added to the existing stock in the country. This was contained in a statement...

    • Posted February 25, 2015
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