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  • Naira depreciates as dollar liquidity thins out

    The naira depreciated against the United States dollar at the interbank market Wednesday as importers started to lock-in their hard currency needs at favourable rates. The nation’s currency closed at N160.26 to a dollar yesterday, compared to...

    • Posted October 11, 2013
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  • High demand for Nigerian charcoal in EU countries

    Bende Export-Import Limited, a subsidiary of Slok Group, says Nigerian charcoal is in high demand among EU countries because they are of good quality, easy to light and can burn for a long time. Benjamin Kalu, MD/CEO,...

    • Posted October 11, 2013
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  • Made-in-Nigeria phones to be introduced — PAPDAN

    The Phone and Allied Products Dealers Association of Nigeria on Wednesday said that plans were underway to introduce two new made-in-Nigeria mobile phone brands before December. The President, PAPDAN,  Mr. Godfrey Nwosu, told the News Agency of Nigeria in...

    • Posted October 11, 2013
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  • Sambo meets core investors in PHCN successor firms

    The Chairman, National Council on Privatisation, Vice-President Namadi Sambo, has met with core investors in the successor companies carved out of the Power Holding Company of Nigeria. A statement  made  available to  our correspondent by the Head,...

    • Posted October 11, 2013
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  • FG targets $3bn from non-oil exports

    The Federal Government said on Wednesday that it was working toward increasing the country’s annual non-oil export revenue to $3bn, the News Agency of Nigeria reported. The Acting Executive Director, Nigeria Export Promotion Council, Mr. Aliyu Lawal, said this...

    • Posted October 11, 2013
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  • Nigeria records N6.85tn e-transfers — Report

    The country has recorded N6.849tn worth of electronic fund transfers between January and September this year. A document obtained by our correspondent on Wednesday from the Nigeria Inter-Bank Settlement System showed that NIBBS Instant Pay recorded an...

    • Posted October 11, 2013
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  • Customs focuses on scanning in cargo clearance

    The Comptroller-General of the Nigeria Customs Service (NCS), Alhaji Dikko Inde Abdulahi, has stated that the Service will do more of scanning and risk management in cargo clearance at the nation’s ports. Abdullahi, who disclosed this at...

    • Posted October 11, 2013
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  • Investors trade 308.07 million shares on Thursday

    Transactions on the floor of the Nigerian Stock Exchange, NSE, ended on Thursday with investors trading 308.07 million shares worth N2.09 billion in 4,305 deals as against the 288.02 million shares valued at N2.38 billion which exchanged...

    • Posted October 10, 2013
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  • Dagogo-Jack gives reasons for delay in payment of PHCN workers’ benefits

    The Chairman, Presidential Task Force on Power, Chief Reynolds Dagogo- Jack, on Wednesday attributed the delay in payment of severance benefits to PHCN workers to due process. Dagogo-Jack stated this in an interview with the News Agency...

    • Posted October 10, 2013
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  • Adesina seeks more EU investment in Nigeria’s Agribusiness

    The Minister of Agriculture and Urban Development, Dr. Akinwumi Adesina, has urged the EU member states to pay more attention to investing in agribusiness in Nigeria, rather than focusing on granting Aids to the country to develop...

    • Posted October 10, 2013
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  • Lawmaker commends ban on importation of foreign currencies

    Mr Rotimi Olowo, a member of the Lagos State House of Assembly (LAHA), on Wednesday commended the Central Bank of Nigeria (CBN) for banning the importation of foreign currencies. He said that the measure would curb security...

    • Posted October 10, 2013
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  • Nigeria joins Alliance for Affordable Internet

    Nigeria has joined the Alliance for Affordable Internet, an organisation that aims to make the Internet more affordable in developing countries where the cost of access remains a barrier for majority of the populace. The alliance, which...

    • Posted October 10, 2013
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  • Inadequate gas supply: ALSCON suffers $60m loss

    The Aluminium Smelter Company of Nigeria said it had lost about $60m due to inadequate gas supply to its facility at Ikot Abasi, Akwa Ibom State since the facility was restarted in 2008. According to the company,...

    • Posted October 10, 2013
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  • Active telephone lines drop again by 5.6 million

    The number of active telephone lines in the country fell by 5,601,812 in July, according to the latest report by the Nigerian Communications Communication. The number of active subscribers is now 114,760,406. As of the end of...

    • Posted October 10, 2013
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