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All posts tagged "featured"

  • Banks profit set to fall over TSA

    The cash shortage occasioned by the commencement of the Treasury Single Account policy will make banks’ profits to decline, it has been learnt. Top bank executives told our correspondents on condition of anonymity on Wednesday that the...

    • Posted September 18, 2015
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  • NNPC to review PSC fiscal terms with IOCs

    The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it would revisit the fiscal terms of existing Production Sharing Contracts (PSCs) entered into by it on behalf of Nigeria with some international oil companies (IOCs). The corporation,...

    • Posted September 17, 2015
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  • Banking stocks lead Laggards as NSE Index sheds value

    The Nigerian Stock Exchange (NSE) Banking Index declined 0.85 per cent at the stock market on Tuesday as the   implementation of the Treasury Single Account (TSA) began. Although the NSE All-Share Index shed 0.19 per cent, the...

    • Posted September 17, 2015
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  • Cash shortage hits banks as TSA deadline expires

    Deposit Money Banks in the country have transferred about N1.5tn from the accounts of Ministries, Departments and Agencies of the Federal Government to the Central Bank of Nigeria as the deadline for the commencement of the Treasury...

    • Posted September 17, 2015
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  • Buhari to continue fine tuning electricity reforms

    The federal government monday disclosed that it would rather continue with the ongoing electricity reforms that was initiated and started by the previous governments of Presidents Olusegun Obasanjo and Goodluck Jonathan than abandon it as is being...

    • Posted September 16, 2015
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  • JP Morgan: Nigerian bonds face downgrade risk

    Federal Government bonds are facing the risk of credit rating downgrade following the expulsion of Nigeria from the JP Morgan Government Bond Index-Emerging Markets, Reuters has reported. Standard & Poor’s, which rates Nigeria four levels below investment...

    • Posted September 16, 2015
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  • External reserves fall to $30.794bn, inflation inches to 9.3%

    Nigeria continued to reel from the impact of the decision by US investment bank JP Morgan & Chase to phase out Nigerian bonds from its indexes, as the country’s external reserves fell to $30.794 billion. The value...

    • Posted September 16, 2015
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  • NNPC issues guidelines for sale, purchase of Nigeria’s crude

    In its renewed bid to ensure transparency in all commercial activities relating to petroleum operations in Nigeria, the Nigerian National Petroleum Corporation (NNPC) has released the guidelines for the participation of local and foreign companies in the...

    • Posted September 16, 2015
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  • NIBSS, Telcos collaborate on BVN registration

    The Nigeria Interbank Settlement System (NIBSS) said it has gone into a partnership with Nigeria’s major telecommunication firms to enhance the bank verification number (BVN) registration. The partnership allows bank customers that had enrolled for the BVN...

    • Posted September 15, 2015
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  • Interbank lending rate down as liquidity rises

    The nation’s interbank lending rates fell 75 basis points to an average of 6.50 per cent on Friday from 8.25 per cent the previous week, as cash built up in the banking system, Reuters reported. Traders said...

    • Posted September 15, 2015
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