All posts tagged "featured"

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  CBN to mop up N245bn as cost of funds falls by 50%

  The Central Bank of Nigeria (CBN) will this week mop up N245 billion from the interbank money market in a bid to reduce money supply in the economy. Meanwhile, cost of funds in the interbank money market...

  • Posted August 2, 2016
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  NERC fines four power firms N24.56m for breaches

  The Nigerian Electricity Regulatory Commission has penalised four power distribution companies as a result of their failure to treat various customer complaints levelled against them as well as their inability to submit statutory quarterly reports. NERC said...

  • Posted August 2, 2016
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  N3.9tn lost annually to illegal non-oil exports – NEPC

  The country is losing $12bn (N3.9tn) annually to informal or illegal non-oil exports, the Nigeria Export Promotion Council has said. The Managing Director/Chief Executive Officer, NEPC, Mr. Segun Awolowo, was quoted in a statement obtained on Sunday...

  • Posted August 2, 2016
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  Local debt servicing gulps N1tn in one year

  The cost of servicing the Federal Government’s increasing domestic debt hit the N1tn mark for the first time in 2015, statistics obtained from the Debt Management Office have shown. According to statistics obtained from the DMO, the...

  • Posted August 2, 2016
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  Nigeria’s oil faces threat as Saudi Arabia cut prices

  Saudi Arabia, the world’s largest crude oil exporter, has cut all official selling prices for its crude sales to Asian and the United States clients in August, signalling mounting competition for Nigeria and others. The country’s state-owned...

  • Posted August 2, 2016
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  FAAN workers reject airport concession plan

  Workers of the Federal Airports Authority of Nigeria have rejected the concession plan by the Federal Government for four international airports in the country located in Abuja, Lagos, Kano and Port Harcourt. The workers, under the aegis...

  • Posted August 2, 2016
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  FG targets N10.2tn increase in GDP

  The Federal Government plans to increase the country’s Gross Domestic Product by N10.2tn next year from the 2016 figure of N98.5tn to N108.7tn. A country’s GDP is the total monetary value of all the finished goods and...

  • Posted August 1, 2016
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  Domestic airlines deny collecting FG’s intervention fund

  Domestic airlines have denied receiving any form of funding from the Federal Government in the last 30 years to improve their business. The Airline Operators of Nigeria said none of its members is a direct beneficiary of...

  • Posted August 1, 2016
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  US pushes ahead with electricity plan for Nigeria

  The United States government is pushing ahead with its plan to boost electricity supply in Nigeria through the Power Africa initiative. The US Consul General, John Bray, and the Director for Nigeria, US Agency for International Development...

  • Posted August 1, 2016
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  Skye Bank gets N100bn CBN lifeline

  Skye Bank Plc has received over N100bn in liquidity from the Central Bank of Nigeria since July 4 to shore up its operations, its new Managing Director, Mr. Tokunmbo Abiru, has said. He told reporters on Friday...

  • Posted July 31, 2016
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