All posts by BusinessNews Staff

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  Lister Oil Tank Farm: Ismail Arisekola-Alao’s forgery allegation a spurious claim – First Bank

  Leading financial institution, First Bank, says its attention has been drawn to the story in some media publications on the purported allegation of forgery against its officers by Ismail Arisekola-Alao in respect of the Deed of Guarantee...

  • Posted September 7, 2016
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  Former GMDs want NNPC’s refineries restructured, run as IJVs

  Former Group Managing Directors (GMDs) of the Nigerian National Petroleum Corporation (NNPC) have suggested that the nation’s four refineries located in Kaduna, Warri and Port Harcourt be reorganised and operated as Incorporated Joint Venture (IJV) companies instead...

  • Posted September 7, 2016
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  NACCIMA hails CBN for licensing new international money transfer operators

  The Nigerian Association of Chambers of Commerce and Industry Mines and Agriculture (NACCIMA) has applauded the Central Bank of Nigeria for licensing 11 additional International Money Transfer Operators (IMTOs) to operate in Nigeria. The trade group described...

  • Posted September 7, 2016
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  NLNG raises govt revenue by $26bn in five years

  The Nigeria LNG Limited says it has contributed more than $26bn to government revenue in the last five years. The Managing Director of the company, Mr. Tony Attah, disclosed this in Abuja when he met with the...

  • Posted September 7, 2016
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  Marketers seek N165 petrol price, FG says no

  Petroleum product marketers have demanded an upward review in the pump price of the Premium Motor Spirit (also known as petrol). This, they said, would make importation of the product profitable. They said the free fall of...

  • Posted September 7, 2016
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  CBN moves to sanction banks over power intervention fund

  The Central Bank of Nigeria has unveiled sanctions grid to Deposit Money Banks participating in the disbursement of the N213bn Nigeria Electricity Market Stabilisation Facility, popularly called power sector intervention fund. The sanctions were contained in a...

  • Posted September 7, 2016
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  UBA confirms 25% subsidiaries’ contribution to profit

  The Group Managing Director/ CEO, United Bank for Africa, Mr. Kennedy Uzoka, has said the banks African subsidiaries contributed 25 per cent of the group’s profit and account for over a quarter of its  overall total deposit...

  • Posted September 7, 2016
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  2017 budget:FG proposes another N500bn for social intervention

  The Federal Government said it would again set aside the sum of N500bn in the 2017 budget for its social intervention programme. The amount when added to the N500bn earlier approved for the same purpose this year...

  • Posted September 7, 2016
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  Recession: Analysts canvass collaboration between regulators, banks

  Financial analysts in the country have called for a strong collaboration between financial sector regulators and the banking industry to chart an ideal course, given the receding state of the economy. They identified huge communication gaps among...

  • Posted September 6, 2016
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  FG targets $100bn from Indian agric market

  The Federal Government has announced its readiness to partake in the $100bn market for pulses(food crops) in India as it has commenced moves to start growing the plant in commercial quantity for export to the Asian country....

  • Posted September 6, 2016
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