Latest News

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  Consumers without electricity won’t pay fixed charge — NERC

  Power consumers who do not receive electricity supply will stop paying the fixed charge, the Nigerian Electricity Regulatory Commission has said. According to NERC, power distribution companies have agreed to review the fixed charge in a way...

  • Posted August 19, 2015
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  Regulator bars insurance firms from offshore investment

  The National Insurance Commission has barred insurance companies from investing in any business outside the country. Insurance firms are also prohibited from investing their income in their parent’s companies, according to a new policy by the regulator....

  • Posted August 19, 2015
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  Why Senate demands fresh bailout for aviation — Ndume

  Senate Leader, Senator Ali Ndume, on Monday, explained why his colleagues in the upper chamber were pushing for fresh bailout for the domestic airlines operators in the country despite the fact that the previous one granted to...

  • Posted August 19, 2015
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  Electricity workers begin strike in Rivers, three others

  Residents in four states in the South-South will experience blackout from today as workers of the Port Harcourt Electricity Distribution Company commence an indefinite strike over alleged unfair labour practices. The PHEDC supplies electricity to Rivers, Cross...

  • Posted August 19, 2015
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  NFF wants clubs listed on stock exchange

  The Nigeria Football Federation has said its dream is to see the country’s football clubs get listed on the Nigerian Stock Exchange, a move that will help solve the funding challenges that have rocked the country’s football....

  • Posted August 18, 2015
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  Diamond Bank harps on high financial standards for MSMEs

  Head, Retail Directorate of the Bank Diamond Bank Plc, Aisha Ahmad has urged entrepreneurs of Micro, Small and Medium Enterprises (MSMEs) to imbibe the values of financial discipline and strict corporate financial management in the running of...

  • Posted August 18, 2015
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  Deactivation of SIM cards, not total withdrawal – NCC Clarifies

  The Nigerian Communications Commission (NCC), has said the recent directive it issued to telecoms operators to deactivate all unregistered Subscriber Identification Module (SIM) cards across networks, does not mean total withdrawal of the deactivated SIM cards from...

  • Posted August 18, 2015
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  Oil companies owe FG N1.38tn – NEITI

  Oil companies operating in Nigeria owe the Federal Government over $7bn (N1.38tn), the Nigerian Extractive Industries Transparency Initiative has said. NEITI also stated that the restructuring at the Nigerian National Petroleum Corporation was part of its recommendations...

  • Posted August 18, 2015
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  NCAA confirms 146 private jets in Nigeria

  The Nigerian Civil Aviation Authority (NCAA) has confirmed that there are 146 corporate jets in the country of which only 46 were registered in Nigeria while 100 has foreign registration. Director General of NCAA, Captain Muhktar Usman...

  • Posted August 18, 2015
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  Equities Market sheds N252bn on profit taking

  The Nigerian equities market shed N252 billion last week as some investors took profit following the previous week’s  positive run on the Nigerian bourse.  in a major reversal of fortune, the  market had in the previous week ...

  • Posted August 18, 2015
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  Dollar scarcity: Banks cut customers’ card spending abroad

  Nigerian banks are fast running out of dollars to continue settling their foreign counterpart banks who undertake payments for transactions done overseas by Nigerian naira debit and credit cardholders. As a result of the development, some banks...

  • Posted August 18, 2015
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  FG, Lagos owe Ikeja Electric N5.27bn

  The military, Federal Government ministries, departments and agencies as well as the Lagos State Government are owing Ikeja Electric a sum of N5.276bn for electricity supplied to them, our correspondent has learnt. Ikeja Electric is one of...

  • Posted August 18, 2015
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  Criticism trails CBN policy on ATM withdrawal limit

  Some bank customers in Jos on Monday criticised the new Central Bank of Nigeria’s policy which cut down withdrawals from Automated Teller Machines. The customers, in separate interviews with the News Agency of Nigeria, expressed disappointment with...

  • Posted August 18, 2015
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  ICCO tasks Nigeria on $400m Cocoa Fund

  The International Cocoa Organisations (ICCO) wants Nigeria to benefit from the  $400 million it has sourced from international financiers to improve cocoa production among its member countries. According to the ICCO Executive Director, Jean-Marc Anga, who made...

  • Posted August 18, 2015
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