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All posts by BusinessNews Staff

  • NDIC pays N102bn to depositors of closed banks

    The Nigeria Deposit Insurance Corporation has paid the sum of N102.49bn to depositors and shareholders of closed banks, its Managing Director/ Chief Executive Officer, Alhaji Umaru Ibrahim, has said. He reiterated the commitment of the corporation to...

    • Posted November 15, 2014
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  • Naira faces devaluation as oil prices slide further

    The sustained fall in crude oil prices may lead to the devaluation of the country’s currency, the naira, which will spark inflation and its attendant reduction in the purchasing power of Nigerians, analysts have said. International benchmark...

    • Posted November 15, 2014
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  • FG to pay oil marketers N100bn debt

    To avert possible fuel scarcity that often characterises end of year festivities, the Federal Government has announced that it will pay the outstanding debts owed petroleum product marketers by the end of this month. The marketers have...

    • Posted November 15, 2014
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  • FG spends N1.47tn on 183 road projects

    The Federal Government on Thursday said that 183 highway projects were currently being constructed across the six geopolitical zones of the country at a cost of N1.47tn. It said some of the projects were being funded by...

    • Posted November 15, 2014
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  • Concerns over porous security at Lagos Airport cargo shed

    Airline officials have expressed deep concern about the porous security at the cargo shed of the Murtala Muhammed International Airport, Lagos, which makes the place vulnerable to attacks. Their worries stem from what they described as unchecked...

    • Posted November 15, 2014
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  • FBN Capital Conference: Expert charges Nigeria to focus on manufacturing

    Professor Anil Gupta, International expert on strategy, globalization and emerging markets, has urged Nigeria to embrace the manufacturing sector and rise above its present celebratory tag of fastest ‘emerging’ economy. In his i paper titled ‘The rise...

    • Posted November 14, 2014
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  • Emefiele vows to defend naira on falling oil prices

    The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has said he will continue to defend the naira after the currency plunged to a record low last week. “There’s no need for anybody to panic or...

    • Posted November 14, 2014
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  • Caverton posts N5.5bn gross profit

    Caverton Offshore Support Group PLC (COSG), a key provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria, has reported an increase of 34 per cent in revenue for the...

    • Posted November 14, 2014
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  • Standard Chartered to close 100 branches in Africa, others

    Standard Chartered bank is closing 80 to 100 branches to improve profitability in 2015 Standard Chartered will close up to 100 bank branches next year in Asia, Africa and the Middle East in an attempt to improve...

    • Posted November 14, 2014
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  • Telecoms operators accuse State Governments of stifling broadband deployment

    Telecoms operators have said the refusal of state governments to give right of way (RoW) is delaying  broadband rollout in the country. The operators, who spoke in one voice at this year’s West Africa Information and Communications...

    • Posted November 14, 2014
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