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  • FG inaugurates committee on national airline

    The Federal Government has inaugurated a 13-member committee to consult with international partners for the establishment of a national airline for Nigeria. The country’s national carrier, Nigeria Airways, was liquidated in May 2003 by former President Olusegun...

    • Posted August 26, 2015
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  • NERC bars Discos from connecting new customers without meters

    The Nigerian Electricity Regulatory Commission (NERC) has placed an embargo on connection of new electricity consumers without adequate metering facilities by Distribution Companies (Discos). NERC said it opted to restrict the Discos to encourage adequate and prompt...

    • Posted August 26, 2015
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  • Restructured loans to reduce states’ debt burden by 55%-97% – DMO

    The Director General, Debt Management Office (DMO), Mr. Abraham Nwankwo, monday said the recent restructuring of 11 state governments’ short-term bank loans into long-term Federal Government of Nigeria (FGN) Bonds would cut their monthly debt service burden...

    • Posted August 26, 2015
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  • Oil price falls $10 below budget benchmark

    For the first time in six and a half years, the global oil benchmark Brent crude on Monday traded around $43 per barrel, $10 lower than Nigeria’s oil benchmark for this year’s budget. The further slide in...

    • Posted August 26, 2015
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  • 11 states to pay 14.83% interest on bond

    The Debt Management Office in Monday said that the 11 state governments whose commercial debts were recently restructured into bonds would pay an interest rate of 14.83 per cent of the value. The Director-General, DMO, Dr. Abraham...

    • Posted August 26, 2015
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  • August salaries for federal workers may be delayed

    The inability of the Federal Government to convene the monthly Federation Accounts Allocation Committee meeting may delay the payment of August salaries for government workers. The meeting, which usually holds between 15th and 20th of every month,...

    • Posted August 26, 2015
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  • NERC directs TCN to operate single account

    The Nigerian Electricity Regulatory Commission has directed the Transmission Company of Nigeria to maintain a single account for the payment of electricity funds. NERC’s directive came on Monday as a result of the latest threat by the...

    • Posted August 26, 2015
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  • Mobil Oil chairman blames fuel tanker explosions on price regulation

    The Chairman and Managing Director of Mobil Oil Nigeria Plc, Mr. Tunji Oyebanji has attributed the increasing spate of fuel tanker explosions across the country with the attendant fire outbreak to the inability of oil marketing companies...

    • Posted August 26, 2015
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  • CBN grants Fortis Microfinance bank National licence

    The Chairman, Fortis Micro Finance Bank Plc., Mr Felix Achibiri, has said that the Central Bank of Nigeria (CBN) has granted the bank a national microfinance licence. Achibiri made the disclosure at the 2nd Annual General Meeting...

    • Posted August 25, 2015
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  • E-fraud: CBN urges banks to punish offenders

    The Central Bank of Nigeria says the passage of the Cybercrime Prohibition and Prevention Act has given Deposit Money Banks and other financial institutions legal backing to punish perpetrators of electronic fraud especially in the financial services...

    • Posted August 25, 2015
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  • NCC raises panel to review telecom service quality

    The Nigerian Communications Commission has set up a nine-member task force to proffer solutions to the declining quality of service in the telecommunications sector. It said on Sunday that the new NCC Executive Vice-Chairman, Prof. Umar Danbatta,...

    • Posted August 25, 2015
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  • Biya, Osinbajo to formally open Dangote Cement Plant in Cameroun

    President of Cameroun, Paul Biya and Nigeria’s Vice-President, Professor Yemi Osinbajo, are expected to lead the top echelon of the public and private sector operators in both Cameroun and Nigeria to the formal inauguration of Dangote Group’s...

    • Posted August 25, 2015
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  • GTBank posts N63billion profit before tax in six months

    Guaranty Trust Bank (GTBank) Plc has reported gross earnings of N153 billion for the half year ended June 30, 2015.  The performance showed an increase of 15 per cent above theN133 billion recorded in the corresponding period...

    • Posted August 25, 2015
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  • Investor apathy greets Flour Mills’ N30billion rights issue

    As Flour Mills of Nigeria Plc prepares to raise fresh capital from existing shareholders through a rights issue, THISDAY checks revealed that some of the shareholders would not take up their rights.  Some of the shareholders who...

    • Posted August 25, 2015
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