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  • External reserves down by $67m as CBN settles matured obligations

    Nigeria’s external reserves dropped to $30.298 billion as at March 30, 2017 following settlement of matured obligations, mainly foreign exchange (FX) forwards, by the Central Bank of Nigeria (CBN). The latest external reserves position showed it fell...

    • Posted April 4, 2017
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  • Why Nigerian companies fail – AMCON boss

    The Managing-Director and Chief Executive Officer of the Asset Management Company of Nigeria, (AMCON), Ahmed Lawan Kuru, has attributed lack of good corporate governance as the bane of Nigerian companies and business. He spoke in Lagos at...

    • Posted April 3, 2017
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  • Governor Okowa urges oil firms to invest in host communities

    The Governor of Delta State, Dr Ifeanyi Okowa, has said that oil companies should invest in the development of their host communities. Okowa spoke at the commissioning of eight projects by the NPDC-Seplat Joint Venture in Ugborhen,...

    • Posted April 3, 2017
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  • FG meets investor over modular refinery

    Federal government has assured American energy investors of security and enabling environment for the takeoff of a multi-billion-dollar modular refinery project in Gbaramatu Kingdom of Delta State. Petroleum minister Ibe Kachikwu was in talks with a delegation...

    • Posted April 3, 2017
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  • NNPC moves to avert petrol tanker drivers’ strike

    The Nigerian National Petroleum Corporation (NNPC) has intervened to avert the strike action being planned by the Petroleum Tankers Drivers (PTD) section of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG). At the end of...

    • Posted April 2, 2017
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  • Nigeria’s forex reserves at two-week low of $30.3billion

    Nigeria’s dollar reserves fell to a two-week low of $30.29 billion on March 29, the Central Bank of Nigeria (CBN) data showed on Friday. The CBN has been intervening on the currency market this month to support...

    • Posted April 1, 2017
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  • Shell shuts Bonny Light oil export line to remove theft points

    The Nigerian subsidiary of Royal Dutch Shell Plc said it had shut down the Nembe Creek Trunk Line, which exports Bonny Light crude oil, in order to remove theft points. The managing director of Shell Petroleum Development...

    • Posted April 1, 2017
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  • CBN increases BDCs allocation to $10,000/week

    The Central Bank of Nigeria CBN) will from Monday, April 3, 2017 commence twice weekly FOREX sales to licensed Bureaux de Change (BDCs) in the country. A statement by the Bank’s Acting Director, Corporate Communications Department, Isaac...

    • Posted March 31, 2017
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  • NHIS removes 23,000 ghost enrollees from health insurance scheme

    The National Health Insurance Scheme says it has removed 23,000 ghost enrolees, who have been enjoying the benefits of the insurance scheme, from it. The Executive Secretary, NHIS, Prof. Usman Yusuf, disclosed this in Abuja on Tuesday...

    • Posted March 30, 2017
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  • Keystone Bank gets transitional board

    Following the sale of Keystone Bank Limited to the Sigma Golf-Riverbank Consortium by the Asset Management Corporation of Nigeria, the new owners have announced the names of members of the lender’s transitional Board of Directors. In a...

    • Posted March 30, 2017
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  • NEITI raises alarm over growing states debt burden

    The Nigeria Extractive Industries Transparency Initiative (NEITI) says that the debt burden of the thirty six states of the federation has risen to over N3.342 trillion as at 2016 which signifies serious threat. Lagos, Delta, Osun and...

    • Posted March 29, 2017
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  • PTA/BTA: BDCs get new rate from CBN

    The Central Bank of Nigeria yesterday sold the dollar at N358 to the Bureau De Change operators one naira above the N357 sold to the banks signifying an additional trouble for the street traders. The apex bank...

    • Posted March 29, 2017
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  • World Bank debates $150m FG request for mining sector

    The board of the World Bank was deliberating in Washington on a proposal by Nigerian government of $150 million concessional loan for the development of the mineral sector, the Minister of Mines and Steel Development, Dr. Kayode...

    • Posted March 29, 2017
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  • Kaduna Airport in good conditions – FAAN

    In what appears a response to the concern raised last week by the House of Representatives on the state of the Kaduna International Airport, the Federal Airports Authority of Nigeria (FAAN) has said the facilities at the...

    • Posted March 28, 2017
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