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  • CBN cuts CRR to 25%, holds benchmark rate at 13%

    Concerned by the seeming shortage of cash in the banking system as well as the fragile macroeconomic environment, the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) on Tuesday reduced the cash reserve requirement (CRR) to...

    • Posted September 24, 2015
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  • US businesses visit Nigeria for trade expansion

    A trade delegation of 16 United States companies representing multiple sectors visited Nigeria recently. The trade group was part of the largest overall US Government-led trade mission to Africa in history. A statement from the US Consulate...

    • Posted September 24, 2015
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  • Economy could slip into recession – CBN warns

    The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that the country’s economy could slip into recession by next year if proactive steps were not taken by the Federal Government to revive key...

    • Posted September 24, 2015
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  • Illegal flights: British firm pays N11m fine to NCAA

    The Nigerian Civil Aviation Authority has imposed a fine of N11m on a British firm, Gama Aviation, for allegedly flying its Bombardier Global Express plane into and within Nigeria illegally. The affected company has consequently paid N7m...

    • Posted September 24, 2015
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  • Oil slump: CBN moves to boost agric lending

    As the fall in global oil prices continues to batter oil-producing economies including Nigeria, the Central Bank of Nigeria has begun moves to encourage banks to advance more loans to stakeholders in the agriculture value chain. As...

    • Posted September 24, 2015
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  • Absence of middlemen good for kerosene market – Dealer

    A petroleum products dealer and operator of the Nipco Filling Station, Fadeyi, Lagos State, Mr. Kayode Adepoju, has said eliminating middlemen in the kerosene supply value chain is the best thing that can happen to the market....

    • Posted September 24, 2015
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  • Implementation of e-Dividend Mandate System begins

    Electronic dividend (e-dividend) payment has received a boost as the Securities and Exchange Commission (SEC) informed the investing public that enrolment can now be efficiently conducted at bank and registrar branches nationwide through the online platform. SEC,...

    • Posted September 24, 2015
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  • Emefiele under fire over currency controls – Report

    The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, is coming under fire from economists and investors as the economy reels from the collapse in oil prices, Financial Times has reported. Emefiele had introduced a range of...

    • Posted September 23, 2015
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  • SEC warns Capital Market operators against infractions

    The Securities and Exchange Commission (SEC) has won operators in the nation’s capital market against infraction, saying persons who violate the provisions of the Investment and Securities Act and the Rules and Regulations made pursuant thereto would...

    • Posted September 23, 2015
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  • Foreign investors withdraw N410bn from stock market

    The dwindling attraction and returns in the country’s stock market caused foreign portfolio investors to pull out N410.49bn from the equities segment of the Nigerian Stock Exchange between January and August this year. Data obtained from the...

    • Posted September 23, 2015
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  • Oil price decline permanent – DMO DG

    The Director-General, Debt Management Office, Dr. Abraham Nwankwo, on Monday said the decline in the prices of crude oil was a permanent phenomenon. Nwankwo said this in a paper entitled: ‘Deploying public debt management operations to enhance...

    • Posted September 23, 2015
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  • BDCs support FG’s stance against naira devaluation

    The Association of Bureau de Change Operators of Nigeria (ABCON) have condemned the clamour for further depreciation of the naira by some analysts and investors. The association stated this at the end of a forum it held...

    • Posted September 23, 2015
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  • ABCON suspends Amazon BDC over unethical practices

    The Association of Bureaux De Change Operators of Nigeria (ABCON) has suspended indefinitely, Amazon BDC, its directors and staff members over their involvement in unethical practices, pending the outcome of investigations by law enforcement agencies and the...

    • Posted September 23, 2015
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  • World Bank appoints new Country Director for Nigeria

    The World Bank monday announced Rachid Benmessaoud as the new Country Director. He is also Coordinating Director for West Africa Regional Integration Programme. Benmessaoud joined the World Bank in 1990 as an Energy Planner in the then...

    • Posted September 23, 2015
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