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All posts by BusinessNews Staff

  • Nigeria may miss cocoa output target as disease takes toll

    Nigeria may miss its cocoa output target of 500,000 metric tons in the 2014-15 season after an outbreak of fungal blackpod disease devastated farms following heavy rains, a farmers’ association said. “The devastating effect of the excessive...

    • Posted January 1, 2015
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  • FG extends capital budget execution till March 2015

    The Federal Government has extended the execution of the capital components of the 2014 budget by three months from the initial end date of December 31, 2014 to the last day of March 2015. Our correspondent learnt...

    • Posted December 31, 2014
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  • SEC extends recapitalisation deadline for market operators

    The Securities and Exchange Commission has extended the deadline for the recapitalisation of capital market operators by nine months to September 30, 2015. The commission made this known in a notice on Monday, citing recent economic developments...

    • Posted December 31, 2014
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  • Naira appreciates against dollar at Forex markets

    The  naira appreciated against the dollar at the bureau de change and parallel markets yesterday. A survey conducted by the News Agency of Nigeria (NAN) in Lagos showed that naira traded at between N191 and N190 respectively...

    • Posted December 31, 2014
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  • Currency-in-circulation drops to N1.534trillion

    The Central Bank of Nigeria (CBN) has disclosed that currency-in-circulation declined by 0.9 per cent on month-on-month basis to N1.534 trillion in October. This  is in contrast to the growth of 3.1 per cent recorded at the...

    • Posted December 31, 2014
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  • Skye Bank appoints Interim MD for Mainstreet Bank

    Skye Bank Plc has appointed Mrs. Amaka Onwughalu as the interim Managing Director for Mainstreet Bank Limited. Skye Bank recently acquired Mainstreet Bank from the Asset Management Corporation of Nigeria (AMCON). The bank in  notified the  Nigerian...

    • Posted December 31, 2014
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  • NITEL creditors to share N45bn sales proceeds

    Creditors owed about N300bn by the Nigerian Telecommunications Limited will have to share the $252m (about N45.36bn) that was offered by the prospective investor in the company and its mobile subsidiary, the Nigerian Mobile Telecommunications Limited, investigation...

    • Posted December 31, 2014
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  • Crazy bills: NERC gives excuses for not penalising power firms

    Electricity distribution companies across the country may continue to extort money from their customers through ‘crazy bills’ as the Nigerian Electricity Regulatory Commission has said that it is difficult to penalise the errant firms. According to the...

    • Posted December 31, 2014
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  • Nine ships arrive with petrol at Lagos Ports

    The Nigerian Ports Authority (NPA) on Monday said nine ships laden with petrol had arrived Lagos ports, waiting to discharge. The NPA stated this in its daily publication, ‘Shipping Position’, made available to the News Agency of...

    • Posted December 31, 2014
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  • Nigerian equities rally to best 6-day gain since 1998

    The Nigerian Equities market continued with its rally monday, recording the sixth consecutive gain with the benchmark index rising 0.68 per cent to close at  34,663.92, while market capitalisation stood at N11.479 trillion. The performance is regarded...

    • Posted December 31, 2014
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