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  • Disbursement of N220bn MSME fund begins August

    Barring any last minute change, the Central Bank of Nigeria will from next month commence the disbursement of its N220bn Micro, Small and Medium Enterprises intervention fund. The Governor of the apex bank, Mr. Godwin Emefiele, disclosed...

    • Posted July 25, 2014
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  • Shell seeks stakeholders’ support in anti-oil theft campaign

    As oil theft, sabotage, spills and other related crimes persist in the Niger Delta, Shell Petroleum Development Company has asked for the support of the media and other critical stakeholders in addressing the problem. At a summit...

    • Posted July 25, 2014
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  • Local rice production generates N750bn revenue —FG

    The total gross revenue from the local production of rice in the past three years is N750bn, the Federal Government has said. According to the government, farmers and small-scale rice processors in the country made a net...

    • Posted July 25, 2014
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  • BDC operators demand extension of recapitalisation deadline

    The Association of Bureau de Change Operators of Nigeria (ABCON) has proposed a 40 week time table for operators in the sub-sector to meet the N35 million new minimum capital requirements. The Central Bank of Nigeria (CBN)...

    • Posted July 25, 2014
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  • NSE market capitalisation dips by N39bn

    Transactions on the Nigerian Stock Exchange (NSE) on Wednesday closed on a downward note as major stocks recorded huge losses. The News Agency of Nigerian (NAN) reports that market capitalisation at the end of the day’s trading...

    • Posted July 24, 2014
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  • UBA Capital posts N1.5bn profit before tax in six months

    UBA Capital Plc has reported a profit before tax of N1.497 billion for the half year(HI) ended June 30, 2014, showing an increase of 23 per cent above the N1.221 billion recorded in the corresponding period of...

    • Posted July 24, 2014
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  • Credit to private sector hits N16.964tn in June

    Banking sector credit to the private sector increased year-on-year by N195 billion N16.964 trillion at the end of June 2014, compared to the N16.769 trillion it was at the end of May 2014. The Central Bank of...

    • Posted July 24, 2014
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  • External reserves rise by $1.4bn

    The nation’s foreign exchange reserves climbed to $38.49bn, a 3.8 per cent increase on its value month ago, when they stood at $37.09bn, owing to a more stable naira, data from Central Bank of Nigeria showed on...

    • Posted July 24, 2014
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  • Oguntayo takes charge as Skye Bank CEO

    Former Group Managing Director/Chief Executive Officer (GMD/CEO) of Skye Bank Plc, Mr. Kehinde Durosinmi-Etti yesterday formally handed over the mantle of leadership of the bank to his successor, Mr. Timothy Oguntayo. Speaking at a handing over ceremony...

    • Posted July 24, 2014
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  • Electricity Discos, consumers contest NERC’s order on fixed charge

    A recent order by the Nigerian Electricity Regulatory Commission (NERC) exempting electricity consumers who have not been supplied electricity from distribution companies for up to 15 days from paying the fixed charge component of their monthly bills...

    • Posted July 24, 2014
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  • NSE index declines by 0.28%

    Equities edged lower on Tuesday with the major market indicators declining for the fourth straight session. The Nigerian Stock Exchange All Share Index fell by 0.28 per cent to close at 42,664.98 basis points, as against the...

    • Posted July 24, 2014
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  • Nigerian Breweries declares N23.8bn profit after tax

    Nigerian Breweries has reported a profit after tax of N23.872bn for the six-month period ended June 30, 2014. The amount represents a 15.5 per cent increase on the N20.663bn it posted for the corresponding period of 2013....

    • Posted July 24, 2014
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  • Aviation workers insist on national carrier

    The Air Transport Services Senior Staff Association of Nigeria has called on the Federal Government to put things in place to ensure a functional national carrier. The ATSSSAN’s President, Mr. Benjamin Okewu, who said this in a...

    • Posted July 24, 2014
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  • Rising unemployment, income inequality worry CBN

    The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday expressed concern over the high level of unemployment, income inequality and poverty in the country. The Governor, CBN, Mr. Godwin Emefiele, stated this while addressing...

    • Posted July 24, 2014
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