All posts tagged "featured"

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  CBN pumps $500m into FX Market, banks take up only $371m

  In keeping with its promise to ease the difficulties encountered by Nigerians in obtaining funds for foreign exchange transactions, the Central Bank of Nigeria (CBN) tuesday carried out special wholesale intervention forward sales in the interbank forex...

  • Posted February 23, 2017
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  Nigeria, others lose $5.8 bn yearly to corporate tax waivers

  The ActionAid Nigeria (AAN) says Nigeria loses $2.9bn annually to corporate tax waivers. The country director of AAN Ojobo Ode Atuluku who said this Wednesday in Abuja added that apart from Nigeria, Ghana and Senegal lose $2.7...

  • Posted February 23, 2017
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  IATA suspends Arik from airline’s billing system

  Nigerian largest carrier, Arik Air, which was recently taken over by the Assets Management Corporation of Nigeria (AMCON) following huge indebtedness, has been suspended from the International Air Transport Association (IATA) Billing and Settlement System (BSP). However,...

  • Posted February 23, 2017
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  CBN changes forex rules, as naira plunges at BDCs

  The Central Bank of Nigeria (CBN) has again changed its rules on foreign exchange allocations for manufacturers and travellers in a bid to ease   scarcity and ensure enough liquidity.   In the new rules released yesterday, the...

  • Posted February 22, 2017
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  Nuru replaces Balogun as FCMB boss

  The First City Monument Bank Limited (FCMB Limited) has announced Mr. Adam Nuru as its new Group Managing Director effective March 20, 2017, in a new re-organization of the group. Before his new appointment, Nuru was the...

  • Posted February 22, 2017
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  Forex crisis: Senate asks EFCC to go after CBN, NNPC officials

  The Senate yesterday said top officials of the Central Bank of Nigerian (CBN) are billionaires, and asked the anti-graft agency, the EFCC, to go after them. The senators also said the EFCC should investigate top Nigeria National...

  • Posted February 22, 2017
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  DPR seizes vessel with impure petroleum product

  The Department of Petroleum Resources (DPR), yesterday  seized a vessel, MT JAZI, loaded with 1.5 million litres of contaminated petroleum product while discharging at Nakem Jetty, Kirikiri, Lagos. Mr Mordecai Ladan, Director, DPR, told journalists in Lagos...

  • Posted February 22, 2017
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  Fitch affirms 3 UBA subsidiaries ‘B-’, outlooks stable

  Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDR) of United Bank for Africa Cameroon (UBA CAM), United Bank for Africa Senegal (UBA SEN) and United Bank for Africa Ghana (UBA Ghana) at ‘B-’. The Outlooks...

  • Posted February 21, 2017
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  Aviation fuel shoots to N280/litre

  The slide in the value of the naira against the dollars has caused the price of aviation fuel, known as Jet A1, to skyrocket,  Daily Trust checks have shown. The price which stabilized in recent times, selling...

  • Posted February 21, 2017
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  Chamber urges exporters to access CBN loans

  The Jigawa Chamber of Commerce, Industry, Mines and Agriculture (JICCIMA) on Friday urged exporters and businessmen in the state to access loan facilities provided by the  Central Bank of Nigeria (CBN) to improve the country’s economy. The...

  • Posted February 21, 2017
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