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Nigerian ports’ potential under-utilised, says expert
A Maritime expert, Capt. Fola Ojutalayo, on Tuesday said Nigeria had yet to harness the potential of its ports due to some administrative challenges. Ojutalayo, a Senior Lecturer at the Federal College...
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SEC approves UBA’s rights issue
The Securities and Exchange Commission (SEC) on Monday approved the proposed rights issue of N13 billion for existing shareholders of UBA Plc. Mr Obi Adindu, Communications Adviser to SEC...
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Gov Suswam of Benue presents 2015 Budget
Gov Gabriel Suswam of Benue The Governor of Benue state, Gabriel Suswam, has presented the 2015 appropriation bill of over N98.6 billion to the state’s House of Assembly for consideration. It’s...
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FG pays N166bn outstanding subsidy claims to petroleum marketers
Diezani Alison-Madueke The federal government has approved the payment of about N166 billion to petroleum marketers as reimbursement for outstanding subsidy claims on they petrol they imported into the...
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NSE: Capital market indices up by .06 per cent
Equity transactions on the Nigerian Stock Exchange (NSE) floor on Tuesday closed on a bullish note as some blue chips sustained price rally. The News Agency of Nigeria (NAN) reports that Nestle led the...
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CBN revokes licences of 21 Primary Mortgage Banks
Central Bank of Nigeria (CBN) Head Office, Abuja The Central Bank of Nigeria (CBN) has revoked the operating licences of 21 Primary Mortgage Banks (PMBS) as well as one microfinance bank and directed...
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Nigerian Stock market closes on a bearish note…dips by 0.08%
Transactions on the Nigerian Stock Exchange (NSE) closed for the year on a bearish note as the market capitalisation depreciated marginally by 0.08 per cent. Reports say that the depreciation was due...
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Pension arrears would be paid, Fashola pledges
Gov Babatunde Fashola of Lagos Gov. Babatunde Fashola of Lagos State said on Wednesday that Government would pay the arrears owed pensioners in 2015. The governor made the promise while addressing...
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‘No immediate plan to alter benchmark as oil price drops to $56.42′
Coordinating Minister of the Economy and Minister for Finance, Dr. Ngozi Okonjo-Iweala The Federal Government at the weekend ruled out any immediate plan to tamper with the oil benchmark put at $65 per...
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NERC seeks consumers’ scrutiny of new electricity tariff
Chairman, Nigerian Electricity Regulatory Commission {NERC}, Dr. Sam Amadi As the newly-approved tariff for electricity consumption in Nigeria begins from January 1, 2015, the Nigerian Electricity...
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Discovery Air abandons passengers, may lose operating certificate
New indigenous carrier, Discovery Air abandoned passengers who bought their tickets and were billed to travel on Christmas Day on 10:00 am flight from Abuja to Lagos. The action has angered the...
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Nigeria-India trade volume hits $17bn -Envoy
Minister of Trade and Investment,Dr Olusegun Aganga India’s Acting High Commissioner in Nigeria Kaisar Alam on Sunday said the trade volume between Nigeria and India reached 17 billion dollars from...
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41 ships laden with foods, petroleum products expected in Lagos
Forty one ships laden with containers, foods, petroleum products and other goods would arrive Lagos ports from Jan. 5 to Jan. 20. The Nigerian Ports Authority (NPA) said in its daily publication –...
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CBN begins disbursement of N220bn SME funds
Central Bank of Nigeria (CBN) THE Central Bank of Nigeria (CBN) has demonstrated its commitment to supporting small and medium enterprises (SMEs) in the eastern region of Nigeria, an economic nerve...
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Market capitalisation declines by 13.03 per cent, says expert
INVESTITURE OF THE 24TH PRESIDENT OF ICSAN IN ABUJA Mr Charles Fakrogha, a stockbroker and Chief Executive Officer, Foresight Securities and Investment Ltd., on Monday said that the Market...
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All-Share Index dips by 714 points on NSE
Equity transactions on the Nigerian Stock Exchange (NSE) reopened after the New Year holiday on a downward note as the All-Share Index depreciated by 713.86 points. The News Agency of Nigeria (NAN)...
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NSE investors stake N5.31bn on 413.764m shares
Investors on the Nigerian Stock Exchange (NSE) on Tuesday staked N5.31 billion on 413.764 million shares in 3,764 deals. The News Agency of Nigeria (NAN) reports that the volume of transactions...
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Operators tie capital market performance in 2015 to international crude oil...
PRESIDENT JONATHAN VISITS NEW YORK STOCK EXCHANGE Some capital market operators on Tuesday said that developments in the international crude oil market would determine the performance of the nation’s...
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Ibru family struggles over ownership of Sheraton Hotels Plc
The ownership tussle of the Sheraton Lagos Hotel and Towers and its owning company, Ikeja Hotels Plc, on Tuesday deepened as different members of the Ibru family moved to assert authority. The News...
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NERC: No increase in electricity tariff for residential consumers till June
Sam Amadi, NERC Chairman The Nigerian Electricity Regulatory Commission (NERC) on Tuesday said the recent increase in electricity tariff, which came into effect on January 1, 2015, would not affect...
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