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  • CBN explains why banks may reject third-party ATM cards

    The Central Bank of Nigeria on Wednesday said Deposit Money Banks might be forced to reject Automated Teller Machine transactions other than theirs if customers failed to accept the N65 ATM service charge it recently re-introduced. The...

    • Posted August 22, 2014
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  • 18 companies pay N33.9m for late account submission

    Eighteen listed companies were fined N33.9m by the Nigerian Stock Exchange between January and July 18 this year for filing their financial statements after the regulatory due date. The Exchange explained in the latest edition of its...

    • Posted August 22, 2014
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  • Government pledges to protect local airline operators

    The Minister of Aviation, Mr. Osita Chidoka, has said the Federal Government will continue to protect local airline operators. He gave the assurance when the management of Arik Air paid him a courtesy visit at the headquarters...

    • Posted August 22, 2014
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  • FG to cancel fixed electricity charge – BPE

    The Director-General, Bureau of Public Enterprises, Mr. Benjamin Dikki, has said that the fixed charge currently being paid by electricity consumers in the country will be dispensed with as soon as power generation increases to an economically...

    • Posted August 22, 2014
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  • Jonathan re-appoints Robert Orya as NEXIM Bank MD

    President Goodluck Jonathan has renewed the tenure of Roberts Orya, the Managing Director of the Nigerian Export-Import Bank, NEXIM. Mr. Orya was appointed Managing Director/CEO of NEXIM Bank on August 14, 2009. The Permanent Secretary, Federal Ministry...

    • Posted August 21, 2014
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  • Nigeria’s external debt rises to $9.38bn – DMO

    The nation’s foreign debt has risen by 40 per cent to $9.38bn, up from $6.7bn recorded last year, according to the latest data from the Debt Management Office. The DMO said on Tuesday that local debt component...

    • Posted August 21, 2014
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  • NERC defends position as power sector regulator

    The Nigerian Electricity Regulatory Commission on Monday defended its position as the only authorised regulator of the power industry. The Chairman, NERC, Dr. Sam Amadi, said recent claims that the commission lacked the capacity to regulate technical...

    • Posted August 21, 2014
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  • Deadline extended for Afam, Kaduna power plants’ bidders

    The Federal Government has extended the deadline for the payment of the balance of 75 per cent of the purchase prices for the Afam Power Plc and Kaduna Electricity Distribution Company by the preferred bidders by additional...

    • Posted August 21, 2014
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  • FG slashes registration fees for SMEs by 60%

    The Federal Government on Tuesday said it had reduced the cost of registering Small and Medium-scale Enterprises with the Corporate Affairs Commission by 60 per cent. The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, disclosed...

    • Posted August 21, 2014
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  • Gross federal revenue drops by N154.5bn

    The Federal Government on Tuesday said the country recorded N154.5bn decline in gross federally collected revenue in July, which stood at N630.32bn, from the N784.88bn received in June. The Minister of State for Finance, Ambassador Bashir Yuguda,...

    • Posted August 21, 2014
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  • Re-introduction of ATM charge won’t discourage financial inclusion – CBN

    The Central Bank of Nigeria, CBN, has faulted critics of its N65 charge on use of Automated Teller Machine. The apex bank in a statement on Wednesday said the policy won’t discourage its drive for financial inclusion....

    • Posted August 20, 2014
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  • CBN selects 1000 bank branches for BVN registration

    The Central Bank of Nigeria (CBN) has selected 1000 bank branches for the second phase of the registration of bank customers on the Bank Verification Number (BVN). Of this amount, First City Monument Bank Limited (FCMB) has...

    • Posted August 19, 2014
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  • Dangote Cement posts N95bn profit in six months

    Leading cement manufacturing company, Dangote Cement Plc  last week announced its financial results for the half year ended June 30, 2014 and reported profit after tax (PAT) of N95 billion. The company reported increased revenue from N198.5...

    • Posted August 19, 2014
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  • CBN calls for unity in fight against e-fraud

    The Central Bank of Nigeria has said the fight against electronic fraud in the financial system and the economy in general can not be done alone As a result, the central bank said stakeholders in the economy,...

    • Posted August 19, 2014
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