Latest News

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  Adeosun wants insurance firms to raise capital base

  The is an indication that the insurance industry may embark on another round of recapitalisation as the Minister of Finance, Mrs. Kemi Adeosun, has stated the need for insurance industry operators to increase their capital base and...

  • Posted July 14, 2016
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  No plan to increase electricity tariff – NERC

  The Nigerian Electricity Regulatory Commission (NERC) on Tuesday denied reports that there were plans to increase power tariffs across the country. Six months ago, NERC increased electricity tariffs for different categories of consumers by over 45 per...

  • Posted July 14, 2016
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  Shiroro power plant to operate at full capacity after N2.4bn repairs

  The Shiroro Hydro Power Station has expended about N2.4 billion for the repairs of its four turbine generators to bring the plant to full capacity of 600 megawatts. Dr Olubunmi Peters, SHPS Executive Vice Chairman, disclosed this...

  • Posted July 14, 2016
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  Nigeria’s economy likely to shrink this year – IMF

  Nigeria’s economy will most likely contract this year as energy shortages and the delayed budget weigh on output, the International Monetary Fund has said. “I think there is a high likelihood that 2016 as a whole will...

  • Posted July 13, 2016
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  Asian Banker names FirstBank ‘Best Retail Bank’

  First Bank of Nigeria Limited says it has won ‘The Best Retail Bank in Nigeria’ for the fifth time. The lender said it also won ‘The Mobile Payment Product of the Year’ and ‘The Credit Card Product...

  • Posted July 13, 2016
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  Again, Shell shuts 180,000bpd oil export pipeline

  Shell Petroleum Development Company of Nigeria Limited on Monday shut the Trans Niger Pipeline, one of the two major pipelines transporting the nation’s reference crude oil grade, Bonny Light, for export. This is coming one month after...

  • Posted July 13, 2016
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  Gas price hike: Aggrieved motorists threaten to shutdown NIPCO’s stations

  Barely few weeks after NIPCO Plc reopened its seven Compressed Natural Gas (CNG) Filling Stations in Benin, Edo State, after they were shutdown for several days by aggrieved motorists in protest against the hike in price of...

  • Posted July 13, 2016
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  FG to enforce compulsory insurance policies

  The Minister for Finance, Mrs. Kemi Adeosun, has said that the Federal Government will enforce the compulsory insurance policies and ensure that the cost of insurance is included in its expenditure. She said this during the second...

  • Posted July 13, 2016
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  CIBN to examine new forex policy

  The Chartered Institute of Bankers of Nigeria says it is set to examine the likely effects of the new foreign exchange rate policy on businesses and the economy in general. The institute, in a statement on Monday,...

  • Posted July 13, 2016
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  FG releases N253bn for capital projects

  The Federal Government has so far released the sum of N253bn out of the N350bn set aside for capital projects in the first and second quarters of 2016. Investigations by our correspondent on Sunday in Abuja showed...

  • Posted July 12, 2016
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  We didn’t approve increase in airfares – NCAA

  The Nigerian Civil Aviation Authority (NCAA) has denied approving the increase in domestic airfares, saying all tariffs for airlines’ services, including fares, rates, add-on charges or terms and conditions of service have been liberalised. This came after...

  • Posted July 12, 2016
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  Interbank rate rises on cash shortage

  The nation’s interbank lending rate has risen by 10 per cent, data from the FMDQ OTC website have shown. The overnight rate rose sharply week-on-week to 15 per cent on Friday, from five per cent a week...

  • Posted July 12, 2016
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  Dogara recommends stiffer sanctions against errant Capital Market operators

  The Speaker, House of Representatives, Yakubu Dogara has said that appropriate sanctions against operators who commit infractions would go a long way in restoring investor confidence in nation’s capital market He therefore promised that the parliament would...

  • Posted July 12, 2016
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  90% of containers leave Nigeria empty — NPA

  The Nigerian Ports Authority has said about 90 per cent of containers bringing in goods from other countries eave the shores of Nigeria empty. It also said the level of operational activities at the nation’s ports in...

  • Posted July 11, 2016
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