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  • Eight banks grow loans, advances by 63% to N8.2tn

    The banking sector’s contribution to the growth of the nation’s economy improved in 2014 as eight banks grew loans and advanced by 63 per cent or N3.229 trillion to N8.277 trillion. THISDAY checks revealed that all the...

    • Posted March 31, 2015
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  • First Bank named best retail bank

    First Bank of Nigeria Limited says it has received “The Best Retail Bank in Nigeria Award” for the fourth consecutive time at the just-concluded Asian Banker International Excellence in Retail Financial Services Awards in Singapore. Organised annually...

    • Posted March 31, 2015
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  • Zenith Bank shareholders approve N54.9bn dividend

    Shareholders of Zenith Bank Plc last week approved the  N54.943 billion dividend declared for the 2014 financial year and hailed the board and management of the bank  for the impressive performance. The dividend translated into N1.75 per...

    • Posted March 31, 2015
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  • Barclays Africa applies for equities trading licence in Nigeria

    Barclays Africa Group Limited, which is expanding on the continent after buying most of its parent’s operations in Africa, has applied for an equities trading license in Nigeria in addition to a commercial licence. “We really want...

    • Posted March 31, 2015
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  • 2,618 BDCs meet new capital requirement

    The Central Bank of Nigeria has added 32 bureau de change operators to the list of firms that have complied with its new capital requirements. The number of licensed BDCs has, therefore, increased to 2,618 from the...

    • Posted March 31, 2015
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  • Nigeria Sovereign Investment Authority earned N15.8bn in 2014

    The Nigeria Sovereign Investment Authority on Sunday said it earned a net income of N15.8bn in the 2014 financial year. The agency, in its annual report made available to our correspondent by the Managing Director/Chief Executive Officer,...

    • Posted March 31, 2015
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  • Firm gets permit to generate hydro power

    The Federal Government has issued a water use permit to an indigenous firm, Winner Power Gardens Limited, to generate electricity from the Okuru River in Kogi State. The Permanent Secretary, Federal Ministry of Water Resources, Mr. Musa...

    • Posted March 31, 2015
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  • NEM’s new office will boost insurance activities – NAICOM

    The Commissioner for Insurance, Mr. Fola Daniel, has said the new office of NEM Insurance was a value addition that will boost insurance service in the country. He said this during the inauguration of the new office...

    • Posted March 31, 2015
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  • Dangote Cement commences operations in Senegal, Cameroun, posts N159bn profit

    Dangote Cement has recorded significant strides in its African expansion project as the cement company’s new plants in Senegal and Cameroun commenced operation the company has said. Dangote Cement plants in Ethiopia and Zambia are expected to...

    • Posted March 31, 2015
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  • Oil slump, PIB threaten gas-to-power project

    The steep decline in global crude oil prices, regulatory uncertainty and vandalism of gas infrastructure constitute major threats to gas development for the growing need in the power sector, industry players and analysts have said. Prior to...

    • Posted March 30, 2015
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  • Polls reduce domestic investments by N40bn

    Domestic investments in the Nigerian Stock Exchange have recorded a substantial decline due to fears and uncertainties regarding the 2015 general elections, as well as concerns about insecurity. The latest investment details from the NSE showed that...

    • Posted March 30, 2015
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  • NCC postpones 2.6 GHz spectrum auction again

    The Nigerian Communications Commission (NCC) has again postponed the planned auction of the country’s 2.6 GigaHertz frequency; making it the second postponement of the same spectrum within a space of four months. The Executive Vice Chairman/Chief Executive...

    • Posted March 30, 2015
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  • Currency-in-circulation fell 7.6 % in January

    Contrary to the fear of unrestrained use of cash in the run up to the general elections, the Central Bank of Nigeria has reported a marginal drop in currency-in-circulation in the month of January this year. The...

    • Posted March 30, 2015
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  • Dangote’s $250m cement plant opened in Senegal

    In advancement of its strategy to expand cement production in Africa, Dangote Cement yesterday opened its cement plant in Senegal. The new plant, located in Pout district, about 75 kilometres from Dakar, the country’s capital, has a...

    • Posted March 28, 2015
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