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  • Axa says Nigeria election process a boost to African economy

    Axa SA, the largest foreign insurer active in Nigeria, sees the peaceful manner in which the country is handling its first transition in political power in decades as supporting economic growth in the country and beyond, Bloomberg...

    • Posted April 10, 2015
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  • FG told to solve electricity theft to save power sector from collapse

    The federal government has been advised deal with electricity theft in the country in order to save the power sector from total collapse. Chief Technology Officer (CTO) of Computer Warehouse Group (CWG), Mr. James Agada, who gave...

    • Posted April 10, 2015
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  • 8,000 ex-PHCN workers worry over severance benefits

    There is palpable fear among 8,000 workers of the defunct Power Holding Company of Nigeria over the non-payment of their severance benefits by the Federal Government, 16 months after the power firm was unbundled and privatised. Our...

    • Posted April 10, 2015
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  • Fitch downgrades Lagos outlook to negative

    Global rating agency, Fitch Ratings, says it has downgraded the outlook of Lagos State’s long-term foreign currency issuer default rating to negative from stable. The decision, the credit rating agency said, followed the recent downgrade of Nigeria’s...

    • Posted April 10, 2015
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  • UBA deploys new technology to boost e-banking

    United Bank for Africa Plc says it has deployed a new information technology platform to boost its electronic banking channels. The new platform, called Finacle 10x, will enable customers to carry out quick, efficient and secure services...

    • Posted April 10, 2015
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  • Nigeria’s import of US cooking gas rises by 440%

    Nigeria, Africa’s top oil producer and largest holder of natural gas reserves on the continent, imported 764,000 barrels of Liquefied Natural Gas, otherwise known as cooking gas, from the United States in 2014, the first time since...

    • Posted April 10, 2015
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  • IMF highlights opportunities, challenges in Pan-African banks’ expansion

    The International Monetary Fund (IMF) has noted the rapid improvement in Africa’s finance as a result of the strong expansion of pan-African banks across the continent in recent years. It also pointed out that Nigerian banks are...

    • Posted April 10, 2015
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  • Transcorp assures stakeholders on oil block

    The Chief Executive Officer of Transnational Corporation of Nigeria(Transcorp), Mr. Emmanuel Nnorom, has said  the withdrawal of SacOil Holdings Limited from participating in OPL 281 will not affect the funding and production prospect of the oil block....

    • Posted April 9, 2015
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  • Moghalu urges Buhari to reduce unemployment

    A former Deputy Governor of the Central Bank of Nigeria (CBN), Dr. Kingsley Moghalu has advised the president-elect, General Muhammadu Buhari to ensure that his administration focuses on policies that would create jobs in order to bring...

    • Posted April 9, 2015
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  • FG moves MDAs’ capital accounts to CBN

    The Federal Government said it had successfully moved all the capital accounts of its Ministries, Departments and Agencies to the Central Bank of Nigeria. The Minister of Finance, Dr. Ngozi Okonjo-Iweala, who confirmed the development in a...

    • Posted April 9, 2015
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  • DMO to issue N70billion bond

    The Debt Management Office (DMO) said it plans to raise N70 billion in sovereign bonds with maturities ranging between five and 20 years on April 15. The debt office said in a notice on Tuesday that it...

    • Posted April 9, 2015
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  • Survey shows expansion in manufacturing sector

    Nigeria’s Purchasing Managers’ Index (PMI) has shown that activities in the manufacturing sector recorded an increase in February 2015, compared with January 2015. The PMI survey for February 2015 conducted by the Central Bank of Nigeria (CBN),...

    • Posted April 9, 2015
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  • Indigenous oil firms flare 80% of gas produced

    Nigerian independent oil and gas firms and marginal field operators burnt most of the natural gas produced on their fields in the fourth quarter of last year, data from the Nigerian National Petroleum Corporation has shown. Although...

    • Posted April 9, 2015
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  • Use dollars for local transactions, go to jail – CBN

    The Central Bank of Nigeria on Tuesday raised concerns over the increasing use of foreign currencies as a medium of exchange in the country and warned that persons caught in the illegal act risked a six-month jail...

    • Posted April 9, 2015
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