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  • Benin Disco secures US Agency grant

    Benin Electricity Distribution Plc (BEDC) has recorded a major milestone as the first distribution company to benefit from a grant funding by United States Trade and Development Agency (USTDA). Minister of Power, Professor Chinedu Nebo, had earlier...

    • Posted June 19, 2014
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  • Nigeria records improvement in Social Progress Index

    Nigeria improved its ranking on the Social Progress Index 2014, a report by the National Competitiveness Council of Nigeria (NCCN) showed tuesday. This was as a result of regulatory reforms and increased competitiveness as a means to...

    • Posted June 19, 2014
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  • CBN plans credit system to ease access to funds

    The Central Bank of Nigeria on Wednesday unveiled plans to establish a National Credit Scoring System to enhance access to credit. The apex bank Governor, Mr. Godwin Emefiele disclosed this while speaking at a seminar on “Rebasing...

    • Posted June 19, 2014
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  • Oil theft in Nigeria reduces OPEC’s output – IEA

    The activities of oil thieves in Nigeria are currently telling on the output of the Organisation of Petroleum Exporting Countries in terms of depleting oil exports. With the demand for oil currently picking up due to a...

    • Posted June 19, 2014
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  • Interest rate cut not feasible now – Bankers’ Committee

    The Bankers’ Committee on Tuesday said that it might be difficult for the Central Bank of Nigeria to achieve lower interest rates for the country owing to the current macroeconomic environment. The committee, at the end of...

    • Posted June 19, 2014
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  • ITF seeks intervention fund from PenCom, SURE-P, SWF

    The Industrial Training Fund on Tuesday called on the Federal Government to provide an intervention fund to enable the agency equip its training centres across the federation. The Director-General, ITF, Dr. Juliet Chukkas-Onaeko, made the appeal in...

    • Posted June 19, 2014
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  • CBN steps up financial literacy campaign

    The Central Bank of Nigeria (CBN) yesterday commenced its two-day financial literacy campaign in Ibadan for residents in Oyo State. The bank said it had identified the need for virtually all bank customers to be abreast of...

    • Posted June 19, 2014
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  • FG to invest $1.6bn in power transmission

    The Federal Government on Thursday said it would invest 1.6 billion dollars to upgrade and expand the power transmission network. The Minister of Power, Prof. Chinedu Nebo, made this known when a delegation of the Bankers’ Forum...

    • Posted June 18, 2014
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  • AfDB approves $300m loan for Dangote Group

    The board of directors of the African Development Bank (AfDB) has approved a $300 million loan facility for Dangote Group to enable the conglomerate to boost fuel supply and fertiliser production in Nigeria. This is contained in...

    • Posted June 18, 2014
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  • FAAC: FG, States, LGs share N683.9bn for May

    The Accountant-General of the Federation (AGF), Mr Jonah Otunla, said N683.9 billion was shared among the Federal Government, states and local governments as revenue for the month of May. Otunla made this known when he briefed newsmen...

    • Posted June 18, 2014
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  • Enugu NNPC depot to begin operations in July – PPMC

    Mr Haruna Momoh, the Managing Director of Pipeline and Products Marketing Company (PPMC), said the NNPC depot in Enugu State would commence operations and discharge of petroleum products in July. Momoh made the disclosure on Tuesday in...

    • Posted June 18, 2014
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  • Diamond Bank applies to raise N50.37bn through rights issue

    Diamond Bank Plc last week submitted an application to the Nigerian Stock Exchange (NSE) to raise about N50.374 billion via a rights issue  as part of the bank’s capital raising exercise. Shareholders of the financial institution had...

    • Posted June 18, 2014
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  • ATM errors: CBN orders banks to refund monies to customers

    The Central Bank of Nigeria (CBN) has directed all deposit money banks (DMBs) in the country to return all monies in their possession as a result of Automated Teller Machines’ (ATMs’) non-dispense or partial dispense errors to...

    • Posted June 18, 2014
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  • FG, US consortium sign MoU for 400MW plant

    The Federal Government on Monday signed a Memorandum of Understanding with a United States of America consortium, Team Africa, for the construction of a 400-megawatt power plant in Bayelsa State. The Minister of State for Power, Mr....

    • Posted June 18, 2014
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