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  • Lagos Light Rail to be completed in 12 months – Ambode

    Lagos State Governor, Akinwunmi Ambode, on Thursday pledged to complete the state light rail (blue line) in 12 months, noting that its completion was central to unlocking socio-economic opportunities in the state. The governor also directed that...

    • Posted July 18, 2015
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  • RMB urges FG to amend tax structure

    In view of the decline in crude oil prices, which has led to significant drop in Nigeria’s revenue, an analyst at Rand Merchant Bank (RMB), has advised the federal government to restructure its tax process. Speaking at...

    • Posted July 18, 2015
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  • NSE Index reverses losses, gains 0.25%

    The Nigerian Stock Exchange All-Share Index closed on a positive note on Thursday, after 11 consecutive days of losses. Specifically, the NSE ASI gained 77.48 basis points from 30,970.52 basis points to 31, 047.99 basis points. The...

    • Posted July 18, 2015
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  • CBN directs BDCs to obtain customers’ BVNs

    The Central Bank of Nigeria on Thursday said that all transactions consummated by any licensed Bureau De Change operators in the country must have the Bank Verification Number of the customers. The directive, which was contained in...

    • Posted July 17, 2015
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  • GE supplies 12MW of electricity to Lekki FTZ

    General Electric says it has inaugurated four of its Waukesha gas Enginators at the Lekki Free Trade Zone in Lagos, providing 12 megawatts of uninterrupted power supply to the first phase of the zone. With three Waukesha...

    • Posted July 17, 2015
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  • Marketers resume petrol imports

    Members of the Depot and Petroleum Products Marketers Association have resumed importation of Premium Motor Spirit (petrol) into the country. This development was confirmed to our correspondent on Thursday by the Executive Secretary, DAPPMA, Mr. Olufemi Adewole,...

    • Posted July 17, 2015
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  • We’re going bankrupt – Non-oil exporters cry out

    Operators in the agro-allied industry, a major non-oil export sector in Nigeria, say they are daily losing billions of naira in revenue. And many have thus resorted to changing business on account of this. Findings by our...

    • Posted July 17, 2015
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  • Forex restriction: Rice, others face major price increase

    Long grain or imported rice and other food items on the list of items that have been barred by the Central Bank of Nigeria from accessing foreign exchange will witness double digit increase in prices, according to...

    • Posted July 17, 2015
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  • PENGASSAN faults El-Rufai on call to disband NNPC

    Oil workers under the auspices of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have condemned the Kaduna State Governor, Mallam Nasir El-Rufai, over his recent call for scrapping of the Nigerian National Petroleum...

    • Posted July 17, 2015
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  • NSE loses N1.3tn in market capitalisation

    As bearish sentiment in the Nigerian stock market held sway last week, the market capitalisation of equities listed on the Nigerian Stock Exchange has fallen by N1.3tn from a high of N12.135tn recorded in April. The equities...

    • Posted July 14, 2015
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  • Akwa Ibom to assemble luxury cars, others

    Akwa Ibom State will on Monday begin the construction of a plant to assemble luxury cars, ambulances and fire trucks in the state. The move, according to a statement on Friday, is part of the efforts of...

    • Posted July 14, 2015
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  • E-payment transactions hit N35.1tn – Heritage Bank CEO

    The Managing Director and Chief Executive Officer, Heritage Bank Limited, Mr. Ifie Sekibo, said electronic payment transactions in the country grew from N18.1tn in 2012 to N35.1tn in 2014. He said innovation was inevitable for the banking...

    • Posted July 14, 2015
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  • Government to write CBN over high loan collaterals

    The Federal Government has expressed concern over the inability of women farmers to access loans and micro-credit schemes from banks due to high collateral. Already, the Permanent Secretary in the Ministry of Women Affairs, Mr. Ezekiel Oyemomi,...

    • Posted July 13, 2015
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  • GTBank named ‘Best Bank in Nigeria’

    Guaranty Trust Bank Plc has been named ‘Best Bank in Nigeria’ by Euromoney. The lender won the award during the 2015 Euromoney Awards held at the Natural History Museum in London on Thursday, a statement by the...

    • Posted July 13, 2015
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