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  • Law Firm invites Nigerian investors to Canada

    Pace law firm, Canada, is inviting viable Nigerian investors to Canada to do business. According to Rachel Eta Omologe, Immigration Assistant to The Hon. Gerry Weiner P.C, former Minister of Immigration and Citizenship Canada,  Canada’s business/ investor...

    • Posted September 29, 2013
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  • Manufacturers decry high interest rates

    Manufacturers and many small and medium scale enterprises have been complaining that the current interest rates being charged by banks have been affecting their effort to create wealth and reduce the unemployment rate in the country. Some have...

    • Posted September 29, 2013
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  • NCAA frowns on Arik handling of Calabar flight

    The Nigerian Civil Aviation Authority has expressed displeasure over the way Arik Air handled the issues surrounding its Calabar flight on Thursday. A statement by NCAA on Friday, said that the handling of the flight flouted consumer...

    • Posted September 29, 2013
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  • Lagos trade fair to address economic growth

    The Chairman, Trade Promotion Board, Lagos Chamber of Commerce and Industry, Mr. Babatunde Ruwase, has said that the 2013 Lagos International Trade Fair, scheduled to hold in November is aimed at addressing the disconnection between the country’s...

    • Posted September 29, 2013
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  • CBN releases names of 20 sanctioned forex operators

    The CBN on Friday released the names of 20 Bureau De Change (BDC) operators whose licences were revoked for alleged foreign exchange malpractices. The names of the BDCs posted on CBN’s Website are: FBN BDC, Amity Global...

    • Posted September 28, 2013
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  • BlackBerry reports deep loss and falling revenue

    BlackBerry Ltd. reported a quarterly loss of nearly one billion dollars on Friday in line with last week’s warning. The development was days after accepting its largest shareholder’s tentative 4.7 billion dollars bid to take it out...

    • Posted September 28, 2013
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  • CBN suspends WDAS to check money laundering

    The Central Bank of Nigeria (CBN) says it has suspended its Wholesale Dutch Auctions (WDAS) to check money laundering in the foreign exchange market. A circular by CBN to Bureau De Change (BDC) operators on Friday said...

    • Posted September 28, 2013
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  • FG earmarks $8b for Gas-to-Power programme to boost electricity supply

    The Federal Government has earmarked $8 billion dollars for the execution of the Nigerian Gas Master Plan with specific interest in meeting the gas-to-power demand in the country. Vice President Namadi Sambo stated this in Abuja on...

    • Posted September 28, 2013
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  • Cashless Policy: CBN to apply charges on withdrawals, deposits from October 2

    The Central Bank of Nigeria (CBN) says it will start applying charges on withdrawals and deposits above N500,000 for individuals and N2 million for corporate bodies from Oct. 2. Mr Tunde Lemo, Deputy Governor, Operations, said this...

    • Posted September 28, 2013
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  • NNPC sold $20.9bn crude oil in seven months

    The Nigerian National Petroleum Corporation realised a total of $20.91bn in the first seven months of this year from the sale of 191,939,235 barrels of crude oil. The Group Managing Director, NNPC, Mr. Andrew Yakubu, disclosed this...

    • Posted September 28, 2013
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  • NDIC threatens to withdraw insurance cover for MFBs

    The Nigeria Deposit Insurance Corporation has threatened to withdraw insurance cover from any microfinance bank that consistently fails to pay its premium. The Managing Director/Chief Executive, NDIC, Alhaji Umaru Ibrahim, made the threat when officials of the...

    • Posted September 28, 2013
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  • FG inaugurates boards of five parastatals

    The Federal Government on Thursday inaugurated the board of five parastatals. The parastatals are the Consumer Protection Council; National Automotive Council; Small and Medium Enterprises Development Agency; the Nigeria Investment Promotion Commission; and Nigeria Export Processing Zones...

    • Posted September 28, 2013
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  • FG bars domestic airlines from flying foreign-registered planes

    Effective October 1, 2013, no Nigerian airline, whether domestic or charter, will be allowed to use foreign-registered planes in their fleet, according to a new order from the Federal Government to airlines operators through the Nigerian Civil...

    • Posted September 28, 2013
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  • CBN resumes direct intervention to save naira

    In a bid to save the naira, the Central Bank of Nigeria has resumed direct intervention by selling dollars to end users in the market. Our correspondent gathered on Thursday that the regulator took the decision in...

    • Posted September 28, 2013
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