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  • OPEC to push for non-member oil cuts

    The OPEC cartel will seek Saturday to persuade other oil producers to lower production as part of a newly struck global pact to stem a crude glut and lift painfully low prices. The Vienna meeting, which includes...

    • Posted December 11, 2016
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  • CBN asks banks to rescue the economy

    The Central Bank of Nigeria has charged Deposit Money Banks in the country to work towards salvaging the distressed economy as the role of returning it to normalcy remains their responsibility owing to their financial intermediation activities...

    • Posted December 11, 2016
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  • FG to sell N20bn of green bonds in Q1

    The Federal Government plans to raise N20bn ($63m) by March to help fund renewable energy projects, the first issuance of so-called green bonds in the country’s. “We are on track to sell the bond in the first...

    • Posted December 11, 2016
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  • NSE, EFCC stop N20m capital market fraud

    The Nigerian Stock Exchange and the Economic and Financial Crimes Commission have succeeded in aborting a N20m fraud targeted at the estate of an investor in the market, the late Prof. David Osifo. The development was contained...

    • Posted December 10, 2016
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  • NERC fines TCN N47.6m for infractions

    The Nigerian Electricity Regulatory Commission has slammed a N47.6m fine on the Transmission Company of Nigeria for various regulatory breaches. According to the commission, the fine is also due to the company’s failure to submit its 2013...

    • Posted December 10, 2016
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  • We won’t consider 2017 budget until MTEF is passed – Senate

    The Senate has said even though President Muhammadu Buhari will present the 2017 Appropriation Bill to the National Assembly next Wednesday, it will not consider the bill until the 2017-2019 Medium Term Expenditure Framework and Fiscal Strategy...

    • Posted December 10, 2016
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  • NLNG forecasts 32% annual growth for Nigeria’s LPG Market

    A market study conducted by the Nigeria LNG Limited has showed that given the right conditions, the Liquefied Petroleum Gas (LPG) market in Nigeria can grow its penetration and market share by 32 per cent from 400,000...

    • Posted December 6, 2016
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  • Harmattan: NCAA warns pilots about poor visibility

    The Nigerian Civil Aviation Authority has issued a circular warning pilots about poor visibility brought about by harmattan haze in some parts of the country. The spokesperson for the NCAA, Mr. Sam Adurogboye, said the circular, which...

    • Posted December 6, 2016
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  • We’re not allocating dollars – CBN

    The Central Bank of Nigeria says it is not allocating United States dollars as it has set up an interbank foreign exchange market for anyone interested in buying the greenback through Deposit Money Banks. The Acting Director,...

    • Posted December 6, 2016
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  • Passengers grumble over rising luggage theft at airports

    Despite efforts to increase security at the country’s airports, cases of passengers losing items in their baggage to unknown persons is on the increase. Although official figures obtained from the Consumer Protection Department of the Nigerian Civil...

    • Posted December 6, 2016
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  • Fiscal Responsibility Act: Revenue remittance law MDAs not willing to obey

    In the last five years, leakages in revenue generation and remittances have assumed an alarming dimension, thus requiring the attention of all relevant agencies of the government to find a workable solution to stem the ugly trend....

    • Posted December 5, 2016
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  • Nigeria’s steel imports to hit $15.11bn annually

    Nigeria imports of steel will soon hit $15.11bn per annum, the Group Deputy Managing Director, Kam Industries Nigeria Limited, Mr. Bola Awojobi, has said. A report of the Central Bank of Nigeria shows that Nigeria currently imports...

    • Posted December 5, 2016
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  • FG slashes 2017 independent revenue by N298bn

    The harsh economic climate, which has resulted in the slowdown of business activities, may have forced the Federal Government to reduce its projected independent revenue from N1.5tn in 2016 to N1.2tn. Independent revenues of government are funds...

    • Posted December 5, 2016
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  • NNPC to explore for crude in Gulf of Guinea

    The Nigerian National Petroleum Corporation on Thursday announced its preparedness to explore for crude oil in the Gulf of Guinea in a bid to increase the country’s reserves. According to the Group Managing Director of the national...

    • Posted December 3, 2016
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