Latest News

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  Nigeria earns N472bn from cocoa, others

  The country earned a total sum of $2.4bn (N472bn) from the exportation of cocoa, rubber, and other non-oil commodities within the 2014 fiscal period, figures obtained from the Nigerian Export Promotion Council have revealed. The country’s export...

  • Posted July 27, 2015
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  Nigeria spent N1.18tn on food imports, banned items in 17 months

  Nigeria spent a total of N1.18 trillion (about $7.4 billion) on the importation of toothpicks, fish, milk, textiles, rice and furniture between 2014 and May 2015, it was gathered. According to figures obtained from the Central Bank...

  • Posted July 27, 2015
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  Unintended fallout of publication of banks debtor lists may jolt economy – Lemo

  Former Deputy Governor, Central Bank of Nigeria and Chairman, Lambeth Trust and Investment Company Limited, Mr. Tunde Lemo, in this interview with Festus Akanbi, speaks on issues ranging from life after his exit from the apex bank,...

  • Posted July 27, 2015
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  CBN rules out naira devaluation, retains MPR at 13%

  The Monetary Policy Committee of the Central Bank of Nigeria on Friday retained the Monetary Policy Rate at 13 per cent with a corridor of +/- 200 basis points around the midpoint. It also ruled out the...

  • Posted July 26, 2015
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  FAAC allocates N518bn to three tiers of government

  The Federation Accounts Allocation Committee on Friday allocated a total sum of N518.54bn to the three tiers of government for the month of June The allocation, when compared to the N403.02bn distributed in the previous month of...

  • Posted July 26, 2015
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  Oteh emerges World Bank’s vice president

  The World Bank has announced the appointment of the immediate past Director General of the Securities and Exchange Commission, Arunma Oteh, as its vice president and treasurer. The bank, in a statement on Friday, said Oteh was...

  • Posted July 26, 2015
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  FG may rejig policy on airline ownership in Nigeria

  Determined to address the problem of low capacity and improve airlines’ operational standards, the federal government may come up with a policy that would stipulate that any airline operating in the country should have a minimum of...

  • Posted July 25, 2015
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  CBN tweaks Forex peg again as naira falls in black market

  The Central Bank of Nigeria (CBN) has adjusted its exchange rate peg to N197 against the dollar from the N196.95 it set last week, data on the bank’s website showed  The latest adjustment was the fifth since...

  • Posted July 25, 2015
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  Equities lose N18bn as NSE index falls

  The market capitalisation of equities listed on the floor of the Nigerian Stock Exchange on Thursday dropped to N10.685bn from N10.703 the previous day, as the All-Share Index shed 0.17 per cent. The NSE ASI fell by...

  • Posted July 25, 2015
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  Experts want Buhari to review Dry Cargo Inspectors’ Contract

  Experts in the export market as well as procurement professionals have faulted the selection of Pre-Shipment Inspection Agents (PIAs) by the Federal Ministry of Finance, calling it a sham shrouded in secrecy that is likely to undermine...

  • Posted July 25, 2015
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  Unilever’s profit dips 95% as finance charges surge to N1.6bn

  High financial charges impacted heavily on the financial results of Unilever Nigeria Plc for the half year ended 30, 2015, depressing the company’s profit by 95 per cent. Details of the results released Thursday showed that Unilever...

  • Posted July 25, 2015
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  Ex-Minister backs Nigeria, US economic partnership

  A former Minister of National Economic Planning, Dr. Shamsudeen Usman, says the renewed economic partnership between Nigeria and the United States will boost economic growth and lead to the recovery of stolen funds kept in foreign banks....

  • Posted July 25, 2015
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  Stakeholders address investors’ concerns about stock market

  Industry stakeholders on Thursday said the Nigerian capital market had recorded significant growth in recent years, expressing optimism that the pressure from the nation’s macro-economic fundamentals on the market would be short-lived. Speaking at an Investors’ Forum...

  • Posted July 25, 2015
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  Reverse oil tanker ban – Global body tells NNPC

  The global oil tanker industry association, INTERTANKO, has faulted the decision of the Federal Government, through the Nigerian National Petroleum Corporation, to ban 113 oil tankers from lifting the country’s crude oil. Reuters reported on Thursday that...

  • Posted July 25, 2015
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