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Okafor: Americans Want Him For Building Solar Powe

This is the interesting tale of Anthony Okafor, an auto engineering graduate of Nnamdi Azikiwe University who is currently playing so big in the renewable energy, solar and auto industry sectors. &nb

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S10B Fine: You Lied, We Will Pay Nothing To You -

Binance Holdings Ltd said on Friday that it was not in any talks with the Nigerian government about potentially paying up to $10 billion in fines, contradicting a government spokesman’s statemen

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Revert To Old Price, Or Else - Tinubu Warns Cement

President Bola Ahmed Tinubu has directed cement companies in Nigeria to revert to old prices amid the hike in the cost of the commodity.   David Umahi, the Minister of Works, disclosed this on

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Urum Kalu Eke Rejects Tinubu’s CBN Board Job

A nominee for membership of the Central Bank of Nigeria (CBN) Board of Directors, Urum Eke, has turned down President Bola Tinubu’s appointment to continue serving at the World Bank.   Ek

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First In Nigeria: Abians Celebrates 48 Hours Of Un

Residents of Aba, Abia State are celebrating 48 hours of uninterrupted power supply following the installation of the Geometric Power Plant.   Since one out of four turbines at the plant was sw

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Expatriate Workers To Start Paying Annual Levy In

Nigeria has imposed a mandatory annual levy for organisations employing expatriate workers, requiring them to pay $15,000 (£12,000) for a director and $10,000 for other employees.   The m

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NNPCL Uncovered 84 Illegal Refineries, 66 Insertio

The Nigeria National Petroleum Company Limited (NNPCL) says 84 illegal refineries and 66 illegal connections have been discovered in the past week in the Niger Delta region.   In a tweet on the

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DOLLARS: CBN HAS STARTED TO TAKE CONTROL

I am happy to observe that the Central Bank of Nigeria, CBN, has started to take control and do the needful to rein in the criminals and saboteurs and forex speculators. I am particularly happy to not

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EEDC SUCCESSFULLY MIGRATES TO ITS NEW VENDING SYST

…CUSTOMERS CAN NOW UPGRADE THEIR METERS   The Enugu Electricity Distribution Company PLC (EEDC) has migrated to its new vending system, SuperEdge, following a successful rollover on Satu

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CELESTINE EBUBEOGU: HOW TIGER NOURISHES THE WORLD

The Making of The Industrialist - Part 1   In the wake of our father's sudden death in 1992, Celestine Ebubeogu returned from abroad and made the difficult decision to stay back in Nigeria, for

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Cement Price Wahala: Help Us Judge This Matter

One of my friends just called me with a business issue that requires urgent attention. He said he paid for 100 bags of cement to a dealer in December last year at N5,200 per bag (N520,000), with an ag

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Survival Strategy For The Present Economic Hardshi

Nigerians are indeed groaning over the current economic hardship in the country. The country is under the clutches of unprecedented economic hardship where the citizens are struggling to survive. &nb

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HERBERT WIGWE: SO, BANKS COULD HAVE, \"UNKNOWN UNG

One thing, believed to be common with unknown gunmen, was their less regard or value for life. Always associated with having no consideration for life. Not attaching any importance to life.   T

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Wigwe: US Authorities gives report

  … Rain, wintry weather responsible for crash   United States authorities on Sunday said preliminary reports suggest that a wintry weather condition was among the factors that con

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British Airways, Lufthansa shun Kaduna over Abuja

  British Airways and Lufthansa Airlines have joined the list of foreign airlines rejecting the option of flying into Kaduna Airport during the six weeks of runway repair of the Nnamdi Azikiwe I

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Naira crash set to all time low of 350/ USD

Naira crash set to all time low of 350/ USD The sharp and steady depreciation of the Naira at the inter-bank foreign exchange market in the last one week has forced the Central Bank of Nigeria,

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Investors lose N17bn as bears continue rampage

Investors lose N17bn as bears continue rampage Investors in the Nigerian Stock Exchange, NSE, last week lost N17 billion as bears continue to tighten grip in the market. At the close of trading

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SAVANNAH BANK: An ordeal of a Nigerian Financial I

SAVANNAH BANK: An ordeal of a Nigerian Financial Institution Savannah Bank license was withdrawn in February 2002 in a decision many saw as politically motivated due to difference between the maj

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It’s official… naira now Africaâ€

It’s official… naira now Africa’s worst performing currency of 2016 The Nigerian naira took a dive on Thursday at both parallel and official markets, becoming the worst perform

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Insurance firms need to recapitalise— Adeos

Insurance firms need to recapitalise— Adeosun NINE years after the last recapitalisation exercise in the nation’s insurance industry, the Minister of Finance, Mrs. Kemi Adeosun, yeste

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Otedola, Adenuga’s firms, 3 others lose N26

Otedola, Adenuga’s firms, 3 others lose N265.4 b in 6 months  …Investors regain N314.74 bn as stock market value hits N10.2 trn in June …Shareholders decry neglect of r

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Airlines now free to fix fares, other charges â

Airlines now free to fix fares, other charges – NCAA The Nigerian Civil Aviation Authority says all airlines’ tariffs for services rendered, which include fares, rates, add-on charges

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Firms spent N97.9bn on advertisements in 2015 â

Firms spent N97.9bn on advertisements in 2015 – Report Despite the economic crunch of 2015, the total advertising spend in the country rose to N97.9bn last year, according to the 2015 Media

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Mahama blames sabotage in Nigeria for Ghanaâ€

Mahama blames sabotage in Nigeria for Ghana’s electricity shortfalls The president of Ghana, John Mahama yesterday explained that the intermittent power outage experienced in his country wa

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CBN clears Nigerian Banks, says none is in distres

CBN clears Nigerian Banks, says none is in distress  Nigeria’s Central Bank has given the local banks clean bill of health, as it declared  Wednesday night that none of them is in

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Skye Bank’s new GMD explains CBN action, as

Skye Bank’s new GMD explains CBN action, assures customers of funds safety Abiru spoke after taking over from his predecessor, Timothy Oguntayo The new Group Managing Director/Chief Execut

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Nigeria's oil minister replaced as state oil compa

Nigeria's oil minister replaced as state oil company boss Nigerian President Muhammadu Buhari has replaced Oil Minister Emmanuel Ibe Kachikwu as group managing director of state oil company NNPC

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Stop selling tickets in foreign currencies â€

Stop selling tickets in foreign currencies – NCAA warns airlines The Nigerian Civil Aviation Authority (NCAA) has warned all airlines selling flight tickets in foreign currencies in Nigeria

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BREAKING: CBN takes over Skye Bank

BREAKING: CBN takes over Skye Bank The Central Bank of Nigeria, CBN, has taken over one of the nation’s commercial banks, Skye Bank pending when a buyer is found. This was after it dissolve

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Oando records N4.1b net profit in three months

Oando records N4.1b net profit in three months Oando Plc’s operational reports and audited financial statements indicate that the leading indigenous energy group recorded a net profit

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Edo registers 50,000 farmers for CBN loan

Edo registers 50,000 farmers for CBN loan The Edo State government has screened and registered no fewer than 50,000 farmers for the Central Bank of Nigeria loan in the 2016 cropping season. Mr A

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CBN empowers 1,500 youths with N2.5b entrepreneurs

CBN empowers 1,500 youths with N2.5b entrepreneurship loan Emefiele said entrepreneurship among Nigerian youths had been hindered by low capacity and funding, which has made many of them opt for

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FIRS Seals Ifeanyi Ubah's Capital Oil For Evading

FIRS Seals Ifeanyi Ubah's Capital Oil For Evading Tax The Federal Inland Revenue Service (FIRS) on Monday shut down tax defaulting companies in Lagos State and Imo State. In Lagos, the premises

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How to acquire landed property with little or no m

How to acquire landed property with little or no money The simplest and easiest method of buying properties is to pay cash. The seller is happy and you are happy. There is no need for extra paper

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Oil production rises as unions meet FG over strike

Oil production rises as unions meet FG over strike threat Nigeria’s oil production has risen to 1.9m barrels a day (b/d) and should rise to 2.2m by July end if pipeline repairs are complete

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FG to fast-track strategies to ease doing business

FG to fast-track strategies to ease doing business in Nigeria, Buhari assures  President Muhammadu Buhari, Monday reassured that the Federal Government would fast-track the impleme

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100 Bank Debtors Owe N953bn – AMCON

100 Bank Debtors Owe N953bn – AMCON the list of 100 chronic bank debtors released by Assets Management Corporation of Nigeria (AMCON) shows that they owe a total of N953.43 billion. Last w

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Sterling Bank Introduces Flexible Work Conditions

Sterling Bank Introduces Flexible Work Conditions for Staff Sterling Bank Plc said it has come up with a policy to promote work-life balance among its staff as it continues to strive to build a g

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Pound falls further in Asian trading on Monday

Pound falls further in Asian trading on Monday The pound has fallen sharply in trading in Asia on Monday, adding to Friday's record one-day decline. Sterling was trading at $1.3365, down almost

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Africa's richest man has a big plan to fix one of

Africa's richest man has a big plan to fix one of Nigeria's biggest problems Africa's richest man, Aliko Dangote, plans to launch Nigeria's first private crude oil refinery by 2019 while almost d

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Activities of Niger Delta militants reduced FGâ

Activities of Niger Delta militants reduced FG’s revenue by N16.2bn in May – Minister of Finance, Adeosun Finance Minister, Kemi Adeosun, has declared that activities of the Niger Del

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Shares and pound plunge on Leave vote

Shares and pound plunge on Leave vote The London stock market has plunged more than 8% in the wake of the UK's vote to leave the EU. In the opening minutes of trade, the FTSE 100 index fell more

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Lifeline for non-oil exporters

Lifeline for non-oil exporters For long, access to low interest credit remained a pain in the neck for operators in the non-oil export business. Because of declining export credit, most of them c

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Stocks gain N242bn, naira appreciates at interbank

Stocks gain N242bn, naira appreciates at interbank Nigerian stocks sustained its positive bearing yesterday as trading activities by investors yielded N242 billion gain at the close of the market.

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Nigeria naira ends with first daily gain since peg

Nigeria naira ends with first daily gain since peg ditched Nigeria's naira firmed to close at 281.50 to the dollar on Wednesday, its first daily gain since the central bank ditched its 16-month o

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Revenue rises by N24bn as FG, states, LGs share N3

Revenue rises by N24bn as FG, states, LGs share N305bn in May Revenue accruing to the federal, states and local governments went up significantly in May 2016 by N23.628 bn. Following this, the f

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Nigerian naira devalues 23 percent after currency

Nigerian naira devalues 23 percent after currency peg ends Nigeria's naira devalued 22.7 percent against the U.S. dollar on Monday as interbank market trading began following the removal of a cen

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Why MTN’s N1.04tr fine was cut to N330b, by

Why MTN’s N1.04tr fine was cut to N330b, by minister The Presidency and the Senate are heading for a showdown over the reduction of the N1.04 trillion fine imposed on MTN Nigeria first

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As CBN Unchains Forex Market

As CBN Unchains Forex Market Finally, the Central Bank of Nigeria (CBN), has done the needful in the foreign exchange market, but not before some companies have collapsed, a few relocated, and wo

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Nigeria’s foreign debt rises by $7.18bn in

Nigeria’s foreign debt rises by $7.18bn in 10 years Ten years after Nigeria’s historic exit from the Paris Club of Creditors, the country’s external debt balance has climbed to

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BREAKING…CENTRAL BANK ANNOUNCES NEW FOREIGN

BREAKING…CENTRAL BANK ANNOUNCES NEW FOREIGN EXCHANGE POLICY The Central Bank of Nigeria (CBN) has officially announced a new foreign exchange policy and has listed some implications of the

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Banks to limit daily withdrawals to N10,000 per da

Banks to limit daily withdrawals to N10,000 per day The Banks have asked the CBN to limit daily withdrawals to N10,000 per day from what I have just read. I don't know what these guys smoke befor

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Nigeria FX confusion persists, damaging investor,

Nigeria FX confusion persists, damaging investor, business sentiment A two-week silence from Nigeria's government and central bank on further details or even a timescale for naira liberalisation

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Forex policy uncertainty pushes naira to 357/dolla

Forex policy uncertainty pushes naira to 357/dollar The naira dropped against the United States dollar at the parallel market from 355 on Friday to 357 on Monday, foreign exchange traders said.

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The end is naira: Nigeria’s currency

The end is naira: Nigeria’s currency Kemi Adeosun must be sick of answering questions about a policy she can’t control. The finance minister will do little else today, when she discu

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Eni stops 65,000 barrels per day crude production

Eni stops 65,000 barrels per day crude production after pipeline attack in Bayelsa Eni, the parent company of Nigerian Agip Oil Company, NAOC, said the oil firm’s production had been cut sh

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VIDEO: �OPEC Is Back’ With Renewed Foc

VIDEO: ‘OPEC Is Back’ With Renewed Focus on Unity, Says New Chief Producer group will regain the confidence of the oil market Perception of divisions within the group was a concern

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For a Lesson in Precisely How Not to Do an IPO, Lo

For a Lesson in Precisely How Not to Do an IPO, Look at Ghana Ghana sale reopened to seek new buyers after deal had closed Delays may curb growth hopes for Africa’s stock markets It w

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Ghana's Cocoa Industry, Agriculture Subsidy and Le

Ghana's Cocoa Industry, Agriculture Subsidy and Lessons for Nigeria Each time I visit Ghana, I see a country that is stable, peaceful and developing. You are not likely to see ostentatious displ

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Ecobank Nigeria fires 1,040 workers

Ecobank Nigeria fires 1,040 workers The gale of job losses being witnessed in the country due to the current economic hardship has caught up with Ecobank Nigeria, which has sacked over 1,040 of i

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