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FG to raise N100bn bond to fast-track completion of Lagos-Ibadan road
In what appears a major policy reversal, which the Minister of Works, Mr. Mike Onolememen, has called a novel approach to funding projects worldwide, the federal government yesterday announced a new...
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Kerosene subsidy a scam, Sanusi says
The Governor of the Central Bank of Nigeria, CBN, Mr. Sanusi Lamido Sanusi has dismissed claims by the Nigeria National Petroleum Corporation, NNPC of spending money on kerosene subsidy which he calls...
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108 ships to berth in Lagos ports in Feb
About 108 ships with containers of different goods and materials are expected to berth at the Lagos Ports between Feb. 5 and Feb. 28. The Nigerian Ports Authority (NPA) indicated this in its ‘Shipping...
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Sokoto Assembly approves N1.15 bn virement for 2013
GOV. WAMAKKO PRESENTS THE 2014 BUDGET IN SOKOTO The Sokoto State House of Assembly on Wednesday approved N1.15 billion as the last quarter virement warrant for 2013. The virement, which is the transfer...
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Shippers’ Council recovers N25.88m from terminal operators
CHIEF EXECUTIVE OFFICER, NIGERIAN SHIPPERS COUNCIL, CAPT. ADAMU BIU (L), IN A HANDSHAKE WITH THE REPRESENTATIVE OF THE SPEAKER, HOUSE OF REPRESENTATIVES, REP. ISHIAKA BAWA,AT THE JOINT COMMITTEE OF...
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CBN wants FG to monitor utilisation of domestic crude
The Central Bank of Nigeria (CBN) has urged the Federal Government to monitor the utilisation of crude being managed by the Nigerian National Petroleum Corporation (NNPC) for domestic consumption. In a...
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LIRS seals off Daily Trust office over alleged tax evasion
The Lagos State Government on Wednesday sealed off the Lagos Office of the Media Trust Ltd., publishers of the Daily Trust newspapers, over alleged refusal to remit N5.6 million tax. Mrs Folasade...
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Brent oil rises above $106; fall in Cushing stocks buoys US crude
Brent crude rose above 106 dollars a barrel on Wednesday boosted by gains in U.S. benchmark oil after industry data showed decrease in inventories at the WTI contract’s delivery point. WTI crude...
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Guaranty Trust Bank acquires 70% stake in East African Fina Bank Group
The Guaranty Trust Bank (GTBank) says it has acquired 70 per cent stake in one of Africa’s financial conglomerate, the Fina Bank Group. The bank said in statement made available to the News Agency of...
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Nigeria to sell N70bn worth of bond
The Debts Management Office (DMO) said on Thursday that it would sell N90 billion in three-year and 20-year Federal Government bonds. The DMO said in its ‘February 2014 FGN Bond Offer Circular’ posted...
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FMBN partners with TUC, NLC on provision of houses for workers
The Federal Mortgage Bank of Nigeria (FMBN) is collaborating with the three major labour unions to ensure that their members benefit from the 3.5 million houses to be provided for workers nationwide....
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Donor agencies spent N855.4 bn on Nigeria’s development in 2011 – report
NATIONAL PLANNING COMMISSION ZONAL VALIDATION WORKSHOP IN ENUGU The National Planning Commission on Thursday said that development partners contributed 5.51 billion dollars (N855.4 billion) towards...
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Proposed ban on rice importation is sound economic policy – Don
Dr Awotein George, Chairman, Rivers Branch of Fisheries Society of Nigeria (FISON), has described the Federal Government’s proposed ban on rice importation as sound economic policy. He said this in...
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Outage: IKEDC appeals to consumers in Ikotun, others
The Ikeja Electricity Distribution Company (IKEDC) has appealed to consumers in Oko-Oba, Ikotun, Ijegun, Idimu, and Ipaja in Lagos over the irregular power supply in the last three weeks. Mr Pekun...
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Lagos internal revenue service condemns ignorance, wilful acts by tax payers
The Lagos State Internal Revenue Service (LIRS) on Thursday alleged that ignorance and willful acts by tax payers were obstacles faced in collection of taxes by the government. Mrs Folasade...
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Activities close low on NSE, market capitalisation dips 0.27%
Activities on the Nigerian Stock Exchange (NSE) on Thursday closed lower as market capitalisation dropped marginally by 0.27 per cent. The News Agency of Nigeria (NAN) reports that the market...
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Africa can create 4.5 million jobs annually, says minister
FROM LEFT: DIRECTOR-GENERAL, SECURITIES AND EXCHANGE COMMISSION, MS ARUNMA OTEH; WORLD BANK NIGERIA COUNTRY DIRECTOR, MRS MARIE FRANCOISE MARIE-NELLY; VICE PRESIDENT, AFRICAN DEVELOPMENT BANK (AfDB),...
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NNPC says Kaduna refinery not affected by fire incident
The Nigerian National Petroleum Corporation (NNPC) has said the fire incident near the Kaduna Refinery on Thursday, would not affect production and distribution of petroleum products in any way. This...
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More IPOs expected in capital market this year — Onyema
The Chief Executive Officer of the Nigerian Stock Exchange, NSE, Mr. Oscar Onyema, has assured that the equity market will be a lot busy this year following flurry of initial public offers expected...
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Market women decry non-circulation of smaller naira denominations
The Abuja Market Women Association has called on the Federal Government to release smaller Naira denominations into the nation’s economy. The Leader of the association, Mrs Felicia Sani, made the call...
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