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  Discos to pay full invoices with new tariffs – Wonodi

  The Managing Director of the Nigerian Bulk Electricity Trading (NBET) Plc, Mr. Rumundaka Wonodi has said that with the new tariffs that took effect from February 1, 2016, the electricity distribution companies in the country would henecforth...

  • Posted March 2, 2016
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  Private equity builds African war chest amid commodity rout

  Private-equity companies amassed a $4.3 billion war chest for investment opportunities in Africa last year as the global commodity rout and weakening local currencies cut prices of potential target companies. The fundraising was the highest since at...

  • Posted March 2, 2016
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  Nigeria’s GDP growth of $594.26bn is jobless growth – CIBN boss

  The 1st Vice President of the Chartered Institute of Bankers of Nigeria (CIBN), Mr. Segun Ajibola has stated that Nigeria’s Gross Domestic Product (GDP) growth of $594.26 billion, which made the country the largest economy in Africa...

  • Posted March 2, 2016
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  Zenith Bank takes lead in forex allocation from CBN

  Bank returns on the utilisation of foreign exchange bought by commercial banks from the Central Bank of Nigeria (CBN) last week have shown that Zenith Bank Plc with $23,006,130.65 reported the highest amount of forex purchased for...

  • Posted March 1, 2016
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  Power supply drops to 2,665MW due to rxplosions, gas constraint

  Inadequate supply of gas to the power station and explosions at transmission lines in the Lagos area and Jebba have resulted in a drop in electricity generation to 2,665MW, THISDAY has learnt. THISDAY gathered that with this...

  • Posted March 1, 2016
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  Value of mobile money transactions rises to N40bn monthly

  With the growing adoption of the cashless policy and increased patronage of mobile money, the Central bank of Nigeria (CBN) has put the value of transactions recorded through mobile money platform at N40 billion monthly. The Chairman...

  • Posted March 1, 2016
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  Firms raise N80.4bn as Commercial Papers Market bounces back

  The revival of the Nigerian commercial papers (CPs) market by the FMDQ OTC Securities Exchange has facilitated the raising of about N80.4 billion by corporates, thereby contributing to the growth of the Nigerian economy. CPs are unsecured...

  • Posted March 1, 2016
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  CPC fines Abuja Disco N10m for boy’s electrocution

  The Consumer Protection Council has ordered the Abuja Electricity Distribution Company to pay the family of an electrocuted boy the sum of N10m for the firm’s alleged technical lapses and negligence. The CPC’s order came on the...

  • Posted March 1, 2016
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  Naira fall: Used vehicle prices soar, sales drop

  These are not the best of times for importers of and dealers in second-hand vehicles due to unexpected low patronage occasioned by the continuing fall in the value of the naira against the United States dollar and...

  • Posted March 1, 2016
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  NCRIB, NIA set to ratify brokers’ commission

  The Nigerian Council of Registered Insurance Brokers and the Nigerian Insurers Association are set to ratify commission rates recommended for insurance brokers. Details of the rates were, however, not disclosed in a statement from the NCRIB, adding...

  • Posted March 1, 2016
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  Banks pay N6.2tn via 13.5 million cheques

  A total of 13.46 million cheques worth N6.19tn were processed by the banking sector in the 2015 fiscal period, figures obtained from the Nigerian Interbank Settlement System have revealed. The NIBSS was set up by the Central...

  • Posted February 29, 2016
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  FG, retirees disagree on 42-month pension arrears

  The alleged failure of the Federal Government to make provision for 42 month pension arrears for its retirees in the 2016 Appropriation Bill has drawn the ire of National Union of Pensioners. The pensioners, which described this...

  • Posted February 29, 2016
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  Shell’s Forcados terminal may remain shut until April

  Nigeria’s oil export revenue, which has been driven down by the plunge in global oil prices, looks set to worsen as flows of the nation’s Forcados crude oil to the export terminal could be halted until April....

  • Posted February 28, 2016
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  Power supply drops by 624MW in three days

  The nation’s power supply slumped by 623.76 megawatts in three days, worsening the rationing that electricity distribution companies have been subjecting consumers to in recent days. The drop in the nation’s electricity generation has caused reduction in...

  • Posted February 28, 2016
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