All posts tagged "featured"

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  CBN, MTN in talks over $600m debt repayment

  MTN Group Limited is in talks with the Central Bank of Nigeria about the early repayment of almost $600m of debt to reduce exposure to the naira, which has weakened against the rand this year. “We have...

  • Posted August 7, 2015
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  158 investors to get N42.2m from protection fund

  The Board of Trustees of the Investors’ Protection Fund of the Nigerian Stock Exchange on Wednesday said that it would compensate 158 claimants for “pecuniary losses suffered by them as a result of wrongdoing by certain dealing...

  • Posted August 7, 2015
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  Nigeria’s financial penetration rate still low – IMF

  The International Monetary Fund (IMF) has said the rate of financial penetration in Nigeria was still low compared with her peers. The multilateral institution noted that recent surveys indicated that although Nigeria’s financial penetration rate was improving,...

  • Posted August 6, 2015
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  Dangote opens Zambian Cement Plant, says four more to come in 2015

  Dangote Group on Tuesday inaugurated its 1.5 million metric tonnes per annum (mmtpa) capacity cement plant valued at $400 million with a  30 megawatts coal plant  to power the factory. The  project was  inaugurated by Zambia President...

  • Posted August 6, 2015
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  Naira weakens to N229/$ as dealers hold on to USD

  The naira reversed its gains against the US dollar on the parrallel market yesterday following the decision of many currency traders to hold on to the green back currency as a result of what they term conflicting...

  • Posted August 6, 2015
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  Refineries to operate at 90% capacity after TAM – NNPC

  The General Manager, Services, of the Nigerian National Petroleum Corporation (NNPC), Mr. Abubakar Muhammed,  has said the nation’s four refineries would operate at 90 per cent capacity on completion of the ongoing Turn Around Maintenance (TAM). Muhammed...

  • Posted August 6, 2015
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  NERC to penalise Discos that reject power allocations

  The Nigerian Electricity Regulatory Commission has issued an order imposing financial penalties on any electricity distribution company that rejects power allotted it by the system operator. This, it said, was especially when there was no notification ahead...

  • Posted August 6, 2015
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  NERC woos manufacturers on embedded generation

  The Nigerian Electricity Regulatory Commission (NERC) has expressed its desire for the members of the Manufacturers Association of Nigeria (MAN) to drive its plan to grow investments in embedded and captive electricity generation in Nigeria. NERC said...

  • Posted August 5, 2015
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  Marketers defy DPR, sell petrol above official prices

  Despite last Wednesday’s announcement by the Department of Petroleum Resources (DPR) that it had set up a task force to supervise and monitor the sale of petrol in some depots, some major and independent marketers have continued...

  • Posted August 5, 2015
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  Naira now 216 on banks’ dollar rejection

  The naira rose further from 222 to 216 at the parallel market on Monday as Deposit Money Banks continued to reject cash deposits in dollars. The Central Bank of Nigeria had said it supported the move by...

  • Posted August 5, 2015
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