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  Why we reduced wages of Seafarers – NLNG

  The Nigeria Liquefied Natural Gas (NLNG) has given an insight into why it decided to reduce the wages of the seafarers working for one of its subsidiaries, NLNG Shipping Management Limited (NSML). It stated that its decision...

  • Posted August 21, 2016
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  External reserves shed 2.1% in one month

  The nation’s external reserves fell to $25.78bn as of August 16, down by 2.11 per cent from its level a month ago, the Central Bank of Nigeria data showed on Thursday. This came just as the CBN...

  • Posted August 21, 2016
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  Foreign Airlines servicing Nigeria now operate from Ghana

  Some international airlines, which hitherto had their operational bases in Nigeria, have started relocating their offices to Accra, Ghana from where they come to pick passengers in Nigeria. The airlines, THISDAY gathered, cited the poor value of...

  • Posted August 20, 2016
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  Ayade restates commitment to N300bn Bakassi Deep Seaport

  The Governor of Cross River State, Ben Ayade, has restated the state government’s commitment to the proposed N300billion Bakassi deep seaport, saying, arrangements are in progress for the commencement of construction. The project, according to the governor,...

  • Posted August 20, 2016
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  FG spent $10bn on Ajaokuta Steel Company – Minister

  The Minister of State for Solid Minerals Development, Mr. Abubakar Bawa-Bwari, said on Thursday that the Federal Government had spent over $10bn on the Ajaokuta Steel Company in the last 35 years. He also said the government...

  • Posted August 20, 2016
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  Oil price hits $50, highest in eight weeks

  Global oil benchmark, Brent crude, hit an eight-week high on Thursday as the world’s biggest producers prepared to discuss a possible freeze in production levels. Brent, against which half of the world’s oil is priced, rose by...

  • Posted August 20, 2016
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  Buhari seeks end to illicit flow of funds

  President Muhammadu Buhari has called on all governors of central banks in Africa to bring to an end all forms of illicit flow of funds out of the continent. The President stated this while speaking at the...

  • Posted August 20, 2016
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  Nigeria imports $227m sugar in seven months

  Nigeria imported $227million worth of sugar in the first seven months of this year, according to the central bank. The highest monthly value of imports of $79.1 million was recorded in June, a Central Bank of Nigeria...

  • Posted August 19, 2016
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  Telecoms operators fret over proposed 9% communication services tax

  The Organised Private Sector (OPS) has expressed concerns over the proposed plan by the federal government to impose a special tax of nine per cent for the use of communication services, noting that this move would only...

  • Posted August 19, 2016
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  Our activities not influenced by presidency – AMCON

  The Asset Management Corporation of Nigeria (AMCON) wednesday described the news making the rounds that its activities are being influenced by the presidency as false. AMCON contended in a statement wednesday that a letter published by an...

  • Posted August 19, 2016
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  Power: Price of gas rises by 60%

  Following the free fall of the naira against the United States dollar, the cost being incurred for the purchase of gas for power generation has risen by about 60 per cent, our correspondent has learnt. Gas for...

  • Posted August 19, 2016
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  FG orders massive importation of kerosene

  In a bid to check the arbitrary increase in the pump price of kerosene, the Federal Government has placed an order for massive importation of the product, oil marketers have said. According to them, the government has...

  • Posted August 19, 2016
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  Access Bank, Verve promote cashless transaction

  Access Bank Plc has partnered Verve International to promote cashless transactions in the country. The lender said the collaboration was designed to enhance customer education and financial inclusion. The Head, Retail Channels, Access Bank, Uloma Ike, said...

  • Posted August 19, 2016
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  CBN grants Fidelity Bank e-commerce licence

  The Central Bank of Nigeria has granted Fidelity Bank Plc final licence to operate electronic commerce services in Nigeria. In a statement on Thursday, it said the development would enable the lender to empower Micro Small Medium...

  • Posted August 19, 2016
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