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All posts by BusinessNews Staff

  • Value of transactions on NASD OTC hits N2billion

    The value of trading on the NASD OTC market  last week hit N2 billion,    three months after it  hit N2 billion. The NASD OTC is licensed platform for the trading of unlisted securities. Prior to 2013, holders...

    • Posted December 17, 2014
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  • FRC to probe sale of Mainstreet, Enterprise Banks

    The Financial Reporting Council (FRC) has indicated plans to investigate the sale of the bridged banks by the Asset Management Corporation of Nigeria (AMCON) next year. The Chief Executive Officer of the FRC, Mr. Jim Obazee, gave...

    • Posted December 16, 2014
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  • NSE all-share index plunges to two-year low

    The Nigerian equities market dipped to a two-year low last Friday as investors intensified dumping of shares causing the Nigerian Stock Exchange (NSE) to close at 30,763.38.  Also, market capitalisation ended at N10.156 trillion.  Bears have been...

    • Posted December 16, 2014
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  • SON approves Dangote Cement quality measures

    Dangote Cement Plc said the Standards Organisation of Nigeria had approved the quality, environmental and safety measures put in place by the company and some business units of the Dangote Group and certified them accordingly. According to...

    • Posted December 16, 2014
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  • Airlines profit from falling oil prices – IATA

    The International Air Transport Association (IATA) has said airlines are profiting from falling oil prices, which is projected to remain below $100 dollars till middle of 2015 and beyond. Director General and CEO of IATA, Tony Tyler,...

    • Posted December 16, 2014
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  • 36.9m Nigerians excluded from financial system – Survey

    Findings from the EFInA access to financial services in Nigeria 2014 survey has revealed that 36.9 million adults, representing 39.5 per cent of the population are financially excluded. This means that they have no access to financial...

    • Posted December 16, 2014
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  • CBN introduces new N100 Friday

    The Central Bank of Nigeria on Sunday said the commemorative N100 note would go into circulation on Friday. President Goodluck Jonathan had recently unveiled the N100 note in commemoration of Nigeria’s 100 years. It was in remembrance...

    • Posted December 16, 2014
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  • Oil slump taking toll on economy – Minister

    The Federal Government has admitted that the persistent drop in global oil prices is already taking a toll on the country’s economy. The Minister of State for Finance, Ambassador Bashir Yuguda, stated this while speaking on Friday...

    • Posted December 16, 2014
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  • Stallion to start Volkswagen vehicles production in Nigeria

    More than 20 years after the departure of Volkswagen from Nigeria due to inactivity, the German automaker is staging a return to the country. This follows the signing of an agreement between Volkswagen Group and Stallion Group...

    • Posted December 16, 2014
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  • Daily subsidy payment on petrol drops by 80%

    While Nigeria’s oil revenue has taken a plunge following the falling global oil prices, the Federal Government’s daily spending on petrol subsidy has dropped to N7.93 per litre as of Wednesday, December 10, as against N44.94 on...

    • Posted December 16, 2014
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