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  • FG to dredge channels of five Sea Ports

    Minister of Transport, Senator Idris Umar, has disclosed that President Goodluck Jonathan has approved the dredging of channels of five seaports in the country to enable them accommodate bigger vessels from abroad. Umar disclosed this during the...

    • Posted June 7, 2014
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  • High taxes ruin African airlines – IATA

    The International Air Transport Association (IATA) has attributed the failure of airlines in Africa to over taxation by states, which is also compounded by safety challenges. Director-General and Chief Executive Officer of IATA, Tony Tyler, who spoke...

    • Posted June 7, 2014
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  • Banks fail to begin biometric registration

    Deposit Money Banks, for the third time, failed to commence the biometric registration of their customers last week. This development is coming up almost four months after the suspended governor of the Central Bank of Nigeria, Mr....

    • Posted June 7, 2014
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  • Standard Chartered invests $10.7bn in Africa

    Standard Chartered Bank Plc says it has invested $10 in the sub-Saharan Africa, which is about to 1.2 per cent of region’s Gross Domestic Product. The bank, which stated this in its 2014 African report, also said...

    • Posted June 7, 2014
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  • NDIC pays N588m to depositors of closed MFBs

    The Nigeria Deposit Insurance Corporation said on Thursday that it had commenced the verification and payment of insured deposits of 33 out of 83 microfinance banks whose licences were recently revoked by the Central Bank of Nigeria....

    • Posted June 7, 2014
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  • 80% of Nigerian youths are unemployed – CBN

    The Central Bank of Nigeria has said 80 per cent of Nigerian youths are still unemployed. This is despite the repeated release of figures by the National Bureau of Statistics showing that the Nigerian economy had been...

    • Posted June 7, 2014
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  • Finished goods exports grow by 80% in 2013

    The export of finished goods, mainly foodstuffs grew by over 80 percent in 2013, according to a report by Maersk Nigeria Limited (MNL), an indication that local manufacturing is on the increase. Maersk, the core liner shipping...

    • Posted June 7, 2014
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  • House of The Week: A fabulous residential property for sale at Banana Island in Lagos

    Our house of the week is unique property consisting 16 units of 4 Bedroom town houses. Each apartment features 4 bedrooms which are all ensuite, 2 sitting rooms, a fitted kitchen, and 1 room guest chalet. Located...

    • Posted June 6, 2014
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  • CBN Governor stops all charges on deposits

    The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Thursday directed that all charges on deposits should be stopped with immediate effect. Emefiele gave this directive at a news briefing to unveil his policy for...

    • Posted June 6, 2014
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  • NSE trades 447.41m shares worth N6.32bn

    Investors on the Nigerian Stock Exchange (NSE) on Thursday staked N6.32 billion on 447.41 million shares in 5,943 deals. The News Agency of Nigeria (NAN) reports that the volume of transactions represented 3.83 per cent increase over...

    • Posted June 6, 2014
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  • MasterCard says cashless policy will reduce cash transactions by 70%

    MasterCard has predicted that the planned nationwide roll-out of the central bank’s cashless initiative will reduce cash transactions in the country by 70 per cent. Vice-President and Area Business Head at MasterCard, Omokehinde Ojomuyide, gave the hint...

    • Posted June 6, 2014
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  • Nigeria is AfDB’s largest shareholder – Okonjo-Iweala

    The Minister of Finance, Dr Ngozi Okonjo-Iweala, says Nigeria is the largest shareholder in the African Development Bank (AfDB) with the highest voting power of 9.2 per cent. Okonjo-Iweala said this at the 50th Anniversary Dinner of...

    • Posted June 6, 2014
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  • Brokers advise Honeywell on equity funding for N10bn project

    Stockbrokers have advised the management of Honeywell Flour Mills Plc(HFMP) to access the capital market for funds to finance its N10 billion new agro-allied industrial complex located on the Lagos-Ibadan expressway. Having completed the expansion of its...

    • Posted June 6, 2014
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  • Allison-Madueke calls for more gas-powered vehicles

    In a bid to promote cleaner environment, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has called for increased use of gas as vehicular fuel. She said Nigeria was beginning to see a change in the direction...

    • Posted June 6, 2014
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