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  • FIRS explains tax waivers on penalties

    The Federal Inland Revenue Service (FIRS) yesterday explained that its recent decision to grant tax waivers on penalty and interest was part of the federal government efforts to improve the ease of doing business among micro, small...

    • Posted November 24, 2016
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  • NSE index falls to 7-month low on continuing bear run

    The Nigerian equities market yesterday extended losses for the eight consecutive trading, driving the Nigerian Stock Exchange (NSE) All-Share Index to a 7-month low. The NSE ASI fell by 0.15 per cent to close at 25,461.34, increasing...

    • Posted November 24, 2016
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  • Cash call: Nigeria gets $1.7bn discount from IOCs

    International oil companies operating in the country have discounted $1.7bn off Nigeria’s $6.8bn cash call Joint Venture debts that accrued over the past six years, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said....

    • Posted November 24, 2016
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  • FG vows to name, shame substandard goods’ exporters

    The Federal Government on Tuesday stated that it would start naming and shaming individuals and agencies involved in the exportation of substandard agricultural produce and other non-oil commodities. It stated that the activities of such persons had...

    • Posted November 24, 2016
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  • Buhari’s economic policies need review – Utomi, Rewane, dons

    Some notable economists on Tuesday urged the President Muhammadu-led administration to review, as a matter of urgency, its economies policies or risk further decline in the economic fortunes of the country. They insisted that the current economic...

    • Posted November 24, 2016
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  • FG’s huge debts crippling financial system – CBN

    The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday called on the Federal Government to urgently evaluate the level of its domestic indebtedness and develop a framework for settling these debts. The committee, in...

    • Posted November 24, 2016
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  • Buhari vows to revamp agriculture in Niger Delta

    President Muhammadu Buhari at the weekend in Yenagoa, the Bayelsa State capital, vowed to revamp the economy of the Niger Delta to ensure that in the next few years, agriculture would coexist and compete favourably with proceeds...

    • Posted November 22, 2016
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  • CBN to provide N750bn for agric bank recapitalisation

    The Central Bank of Nigeria is to provide about N750bn for the recapitalisation of the Bank of Agriculture before the end of next year, the Federal Government has said. According to the government, the restructuring and recapitalisation...

    • Posted November 22, 2016
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  • NNPC, Shell, banks sign $2.2bn deal for contractors

    Shell, supported by the Nigerian National Petroleum Corporation, has signed Memoranda of Understanding with eight local banks under the refreshed Shell Contractors’ Support Fund. The oil major, in a statement on Sunday, described the development as the...

    • Posted November 22, 2016
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  • Forex crisis: Fitch downgrades 10 Nigerian banks

    A leading global rating agency, Fitch Ratings, has revised down the Support Rating Floors of 10 Nigerian banks to ‘No Floor’ and downgraded nine others’ Support Ratings to ‘5’ following a reassessment of potential sovereign support for...

    • Posted November 22, 2016
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  • Local cement production saves Nigeria $2bn annually – Dangote

    Nigeria is saving about $2bn annually as a result of the local production of cement by different manufacturers, the Dangote Group has stated. It also stated that the upsurge in cement production had helped increase the manufacturing...

    • Posted November 22, 2016
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  • Ban export of Nigeria’s grains – Tambuwal tells FG

    Against the backdrop of the concerns in some quarters over the outbreak of famine in Nigeria next year, Governor Aminu Waziri Tambuwal of Sokoto State has urged the federal government to immediately stop the export of food...

    • Posted November 21, 2016
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  • Port Harcourt refinery set to commence aviation fuel production

    The Port Harcourt Refining Company is set to commence the production of Aviation Turbine Kerosene, popularly known as aviation fuel or JetA1, the Nigerian National Petroleum Corporation has said. According to the corporation, the Managing Director, PHRC,...

    • Posted November 20, 2016
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  • Naira to trade tight on CBN’s measures

    The naira is expected to trade in a tight range at the official and parallel markets next week as the Central Bank of Nigeria struggles to curb speculation on the local currency and reduce pressure on the...

    • Posted November 20, 2016
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