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  • CBN to withdraw N1tn from banks February 4

    Following the increase of the Cash Reserve Requirement on public sector deposits from 50 per cent to 75 per cent last week by the Monetary Policy Committee, the Central Bank of Nigeria will on February 4 withdraw...

    • Posted February 2, 2014
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  • CBN laments non-accessability of N220bn fund for Edo SMEs

    The Governor of Central Bank, Sanusi Lamido Sanusi, has lamented the failure of the Small and Medium Enterprises in Edo to access the N220 billion intervention fund floated by government. Sanusi expressed his concern at the Government...

    • Posted February 2, 2014
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  • EFCC, banks seek collaboration toward financial crimes

    The Economic and Financial Crimes Commission (EFCC) has pledged to deepen its collaboration with the Committee of Chief Compliance Officers (CCO) of commercial banks to eliminate financial scam. The collaboration was the fallout of a recent meeting...

    • Posted February 2, 2014
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  • Agriculture transformation more of media hype — Oyekoya

    Prince Wale Oyekoya,  the Chairman, Lagos Chamber of Commerce and Industry (LCCI)’s agriculture sector  and also the MD/CEO of Bama farms. The farm is an integrated farms of poultry , piggery, fishery , and oil palms ....

    • Posted February 2, 2014
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  • FG moves to revitalise iron, steel sub-sector

    The Federal Government says it has concluded plans to develop and implement a comprehensive Backward Integration Policy for the iron and steel sub-sector of the Nigerian economy. The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga,...

    • Posted February 2, 2014
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  • 11 vessels arrive in Lagos ports with petroleum products

    The Nigerian Ports Authority (NPA) on Friday said that 11 vessels carrying petroleum products had arrived in Lagos ports. NPA said that the vessels laden, with petrol, kerosene and base oil, were waiting to berth at various...

    • Posted February 1, 2014
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  • Electricity consumers owe N41.5bn to KEDC

    The Kaduna Electricity Distribution Company (KEDC) said the consumers owed the company N41.5 billion electricity bills. The KEDC Managing Director, Malam Mohammed Idris, said that N40 billion was owed by the consumers in 2013, while N1.5 billion...

    • Posted February 1, 2014
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  • Lagos Government shuts 250 firms over tax evasion

    The Lagos State Internal Revenue Service (LIRS) on Friday said that 250 companies were shut down in 2013 for not remitting their workers’ personal income tax to government. Mrs Folasade Coker-Afolayan, Head, Distrain Unit of LIRS, told...

    • Posted February 1, 2014
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  • Oduah orders resumption of flight operations at Yola airport

    The Minister of Aviation, Stella Oduah, on Friday directed the Yola International Airport authorities to commence full flight operations at the facility with the use of the newly-built terminal. The minister gave the directive in Yola while...

    • Posted February 1, 2014
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  • Privatisation: BPE, NERC promise improved power supply

    The Director-General, Bureau of Public Enterprises, Mr Benjamin Dikki, has promised to work with the Nigeria Electricity Regulatory Commission to ensure improved electricity supply in the country. Dikki said that the two organisations would ensure that the new...

    • Posted February 1, 2014
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  • Current power outages will last for two weeks – FG

    The Federal Government has said that the near total blackout being currently experienced in most parts of the country will take the next two weeks to be resolved. The Minister of Power, Prof. Chinedu Nebo, said this...

    • Posted February 1, 2014
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  • Court orders Union Bank to release N320m depositors’ fund

    A Jos High Court on Friday ordered Union Bank Plc to release N320 million funds accruing to investors in a failed investment house in Jos, Plateau immediately. A High Court Judge, Mr Justice Dakwak Yau, gave the...

    • Posted February 1, 2014
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  • Transcorp, GE partner to improve power generation

    Transcorp Ughelli Power Limited, the subsidiary of Transnational Corporation of Nigeria Plc, and General Electric have signed an agreement to expand the capacity of the Ughelli power plant by 1,000 megawatts over the next three to five...

    • Posted January 31, 2014
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  • Investors exchange 342.89 million shares on Friday

    Transactions at the Nigerian Stock Market on the last trading day of the week ended with investors exchanging 342.89 million shares worth N4.35 billion in 5,401 deals. This was in contrast to the 343.35 million shares worth...

    • Posted January 31, 2014
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