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  • Banks lose 2.4% of revenue to fraud

    The Deputy Governor, Financial Systems Stability, Mr. Adebayo Adelabu, on Thursday said 2.4 per cent of banking revenue was lost to fraud cases. Adelabu said the 2013 Global Fraud Report showed that Africa had the highest regional...

    • Posted June 14, 2014
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  • Funding for power transmission infrastructure hits $2.55bn

    The Federal Government has said the $2.55bn sourced from local and international organisations has been earmarked for the revamping of power transmission infrastructure. This is coming as the Deposit Money Banks in the country have expressed fears...

    • Posted June 14, 2014
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  • NPA bars vessels without ISPS Code from seaports

    The Nigerian Ports Authority says it will no longer allow vessels which have no International Ships and Port Facility Security requirement to berth at the nation’s seaports. This is contained in a statement by the Managing Director...

    • Posted June 14, 2014
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  • Akwa Ibom acquires land for seaport

    Gov. Godswill Akpabio of Akwa Ibom State, on Friday said they had acquired 9,400 hectares of land for the construction of the proposed Ibaka Deep Seaport. Akpabio made this known while speaking to newsmen in Abuja. According...

    • Posted June 14, 2014
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  • Railway Workers Union gets new Secretary General

    The flagship of vibrant trade unionism in Nigeria, Nigeria Union of Railway Workers (NUR) has appointed Comrade Timothy Olusegun Esan as its new Secretary General. He takes over from Comrade Martins A. Akinyanju who has gone on...

    • Posted June 14, 2014
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  • House of The Week: A prestigious 4-bedroom house at Asokoro, Abuja

    Our house of the week is 4 Bedroom Semi-Detached Duplex with 2-Bedroom BQ. This prestigious property has 4 bedrooms, 4 bathrooms and 2 lounges in each unit with all rooms ensuite. Located at Guzape Asokoro, Abuja, this...

    • Posted June 13, 2014
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  • RenCap insists CBN may be compelled to devalue naira

    In view of Nigeria’s dwindling external reserves as well as an anticipated elevated spending in the run-up to the 2015 elections, the Central Bank of Nigeria (CBN) may be compelled to devalue the naira in the short...

    • Posted June 13, 2014
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  • World Bank cuts Africa’s growth forecast to 4.8%

    The World Bank yesterday lowered its growth forecasts for developing countries to 4.8 per cent this year from an earlier projection of 5.3 per cent in January. It however said there are prospects for strengthening the forecast...

    • Posted June 13, 2014
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  • Banks begin biometric registration of customers Monday

    The Deposit Money Banks will on Monday commence the biometric registration of their customers, the Nigeria Inter-Bank Settlement System Plc, the organisation coordinating the project, has said. This is coming about four months after the project was...

    • Posted June 13, 2014
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  • GSK pays N1.2bn dividend, pledges more investment

    Shareholders of GlaxoSmithKline (GSK) Consumer Nigeria Plc yesterday approved a dividend of N1.243 billion for the year ended December 31, 2103 even as they commended Chief Olusegun Osunkeye for his contributions to the growth of the company...

    • Posted June 13, 2014
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  • CBN remains very independent – Emefiele

    The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday said the central bank remains “very independent,” dismissing fears of government interference after the president ousted the previous governor in February. Reuters quoted Emefiele to have...

    • Posted June 13, 2014
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  • UBA in aggressive deposit mobilisation

    United Bank for Africa has introduced a new product targeted at the younger generation as part of its efforts to mobilise savings deposit. The bank said it was set to build a new generation of loyal customers...

    • Posted June 13, 2014
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  • Taxation: Non-compliance by banks, MDAs worries FIRS

    The Federal Inland Revenue Service has said that non-compliance by banks, Ministries, Departments and Agencies of government is one of the challenges confronting tax administration in the country. The State Monitor of Government Business Tax Office, Osogbo,...

    • Posted June 13, 2014
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  • Nigeria markets gas potential at World Petroleum Congress

    Nigeria will be actively participating in this year’s World Petroleum Congress scheduled for Moscow, and will be bringing to fore its natural gas programmes. This year’s theme for the Congress is, ‘Responsibly Energising a Growing World,’ and...

    • Posted June 13, 2014
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