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  • RDAS closure will cause 20% increase in production cost – LCCI

    The Lagos Chamber of Commerce and Industry (LCCI) has said the decision of the Central Bank of Nigeria (`1) to close the Retail Dutch Auction System (RDAS) will lead to about 20 per cent increase in the...

    • Posted February 25, 2015
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  • Senate reduces oil benchmark to $52

    The Senate on Tuesday, reduced the oil benchmark from 65 dollars to 52 dollars. The News Agency of Nigeria (NAN) reports that this is the outcome of a closed-door meeting of the Senate in Abuja on Tuesday....

    • Posted February 24, 2015
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  • CBN, SEC to collaborate for stronger financial sector regulation

    The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have agreed to collaborate more for stronger  regulation of the  capital market in particular  and the Nigerian financial system in general. The acting Director...

    • Posted February 24, 2015
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  • Nigeria’s GDP drops by 5.94% in fourth quarter

    Nigeria’s real Gross Domestic Product (GDP) further dropped to 5.94 per cent in the fourth quarter (Q4) of 2014 compared to 6.23 per cent in the third quarter, according to the  National Bureau of Statistics (NBS). The...

    • Posted February 24, 2015
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  • More pressure on naira as market loses $800m

    The removal of about $800m from the foreign exchange market following the closure of the Retail Dutch Auction System and Wholesale Dutch Auction System window by the Central Bank of Nigeria will put further pressure on the...

    • Posted February 24, 2015
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  • Skye Bank supports oil firm to boost local content

    As part of its effort to boost local content in the nation’s oil and gas industry, Skye Bank Plc has increased the capability of one of its corporate customers, Marine Platforms Limited, by funding the acquisition of...

    • Posted February 24, 2015
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  • Guinness repositions, appoints new Finance Director

    In a move seen by market operators as aimed at repositioning the company financially, Guinness Nigeria Plc has replaced its finance and strategy director. The company announced the appointment of Mr. Ronald Plumridge as the new director ...

    • Posted February 24, 2015
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  • Provide N200bn loan to investors – LCCI urges CBN

    The Lagos Chamber of Commerce and Industry says the closure of the foreign exchange window, the Retail and Wholesale Dutch Auction systems, by the Central Bank of Nigeria will compound the challenges facing the real sector. It...

    • Posted February 24, 2015
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  • Profit-taking may dominate market this week – Experts

    The gains recorded in the stock market last week is likely to result in profit-taking activities this week, capital market analysts have said. Following a week in which the Nigerian Stock Exchange All-Share Index fell by eight...

    • Posted February 24, 2015
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  • CBN warns exporters against misusing earnings

    The Central Bank of Nigeria says any exporter that uses export proceeds for non-eligible transactions will be barred from the foreign exchange market. In a circular on its website on Sunday, the CBN’s Director, Trade and Exchange...

    • Posted February 24, 2015
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  • Nigeria loses 1,500MW of electricity

    DESPITE claims by President Goodluck Jonathan that he had delivered on his promise to supply electric power to Nigerians, the total energy sent out to electricity consumers across the country as of February 17, 2015 stood at...

    • Posted February 24, 2015
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  • SEC’s rules on demutualisation restrict corporate raiders

    The Securities and Exchange Commission has restricted corporate raiders from hijacking the Nigerian Stock Exchange (NSE) during its planned demutualisation exercise. This is sequel to a rule that stipulates that no single entity/person or related entities are...

    • Posted February 24, 2015
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  • CBN steps up rescue package for naira, closes RDAS/WDAS Forex window

    At last, the Central Bank of Nigeria (CBN) in a move to avert the emergence of a multiple exchange rate regime and preserve the country’s foreign exchange reserves announced the closure of Retail Dutch Auction System (RDAS)...

    • Posted February 23, 2015
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  • Nigerians will soon enjoy regular electricity supply – Elumelu

    The Chief Executive Officer, Transcorp/Woodrock, the consortium that won the bid for Ugheli Power Plc, Mr. Tony Elumelu, on Thursday said with the signing of transaction and industry agreements for the Power Holding Company of Nigeria’s successor...

    • Posted February 23, 2015
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