Business
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CBN prepares for recession, reduces benchmark lending rate to 11.5%
The Central Bank of Nigeria on Tuesday reduced the Monetary Policy Rate by 100 basis points from 12.5 per cent...
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Recapitalisation: NAICOM Reads Riot Act to Operators over Outstanding Claims
The National Insurance Commission (NAICOM) has said it will not endorse the recapitalisation plan of any firm that doesn’t clear...
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CBN Disburses N374bn to Smallholder Farmers
The Central Bank of Nigeria (CBN) yesterday said it has funded smallholder farmers (SHFs) under the Anchor Borrowers Programme (ABP)...
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Renewed bargain-hunting pushes index by 0.31 per cent
The Nigerian equities market rebounded yesterday, occasioned by bargain-hunting in most blue-chip stocks, causing the All-Share Index (ASI), to advance...
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Rivers, Shell inaugurate CDB for Assa North Gas project
The Rivers State Government and Shell Petroleum Development Company of Nigeria Limited (SPDC), in Port Harcourt, inaugurated the Egi/Igburu Cluster...
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CBN decries speculation as naira plunges, exchanges for 465/$
Declining export receipts from oil and speculative activities of the Bureau De Change operators among other challenges of the COVID-19...
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Ericsson, Qualcomm Pioneer 5G Capabilities
Ericsson and Qualcomm Technologies have completed pioneering interoperability tests for 5G standalone (SA) carrier aggregation across both FDD/TDD and TDD/TDD...
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FG slashes spending on JV oil assets by 62%
Amid the coronavirus-induced sharp drop in its revenues, the Federal Government reduced its spending on oil and gas assets being...
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GTBank, MTN Propel Marginal Stock Market Appreciation
Gains recorded by Guaranty Trust Bank Plc and MTN Nigeria Communications Plc led to a marginal appreciation in the Nigerian...
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DPR: $1.5 billion World Bank loan may be needless
THE Department of Petroleum Resources (DPR) at the weekend said with the remittance of at least $1.03billion to the Federation...
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Prestige Assurance Extends N6.8bn Rights Issue
Prestige Assurance Plc has extended the offer period for the its rights issue of 13,635,796,006 ordinary shares of 50 kobo...
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78 firms bid to rehabilitate pipelines, depots –NNPC
The Nigerian National Petroleum Corporation on Sunday announced that 78 companies submitted virtual bids to rehabilitate its downstream pipelines, associated...
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Equities market sustains sliding profile amid unstable economic outlook
Negative macroeconomic indices and unstable economic outlook depressed transactions on the equities sector of the Nigerian Stock Exchange (NSE), as...
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Whither Nigeria’s Debt?
Nigeria seems to be headed for a debt trap as all key debt performance measuring indices have fallen below minimum...
Read moreDeregulation: More investors eyeing modular refineries, says DPR
The Department of Petroleum Resources has said more investors are showing interest in establishing modular refineries in the country following...
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WTO: Okonjo-Iweala Jumps 1st Hurdle as 3 Candidates Drop Out
The dream of Nigeria’s Dr. Ngozi Okonjo-Iweala becoming the next Director General of the World Trade Organisation (WTO) got a...
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Autochek Acquires Cheki Nigeria, Ghana
Autochek, an automotive technology company, has announced its acquisition of Ringier One Africa Media-owned (ROAM) vehicles marketplaces of Cheki operations...
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CBN grants Greenwich Merchant Bank operational licence
The Central Bank of Nigeria has granted Greenwich Trust Limited a licence to operate as a merchant bank in the...
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Countries To Spend $428bn To Connect 3bn People To Internet – ITU
he International Telecommunication Union (ITU) has said about $428billion is required to connect the remaining 3 billion people aged ten...
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NNPC Records N20.36bn Trading Surplus in July
Nigerian National Petroleum Corporation (NNPC) said yesterday that it recorded an increased trading surplus of N20.36 billion in July 2020...
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FG orders all bank, other account holders to re-register
The Federal Government has ordered all account holders in the country’s financial institutions to register their details again. The order...
Read moreStock market extends decline by N2bn
Equity trading on the floor of the Nigerian Stock Exchange on Wednesday witnessed another decline in share prices as bears...
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Banks to phase out old cheque books December 31
Deposit Money Banks have started to notify their customers that they will phase out old cheque books and will no...
Read moreCBN Goes Tough, Probes Gaming Companies’ Alleged FX Infraction
Following its earlier decision to place the accounts of some gaming companies under post-no-debit (PND), the Central Bank of Nigeria...
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Stanbic IBTC’s shareholders get 601m scrip shares
Stanbic IBTC Holdings Plc on Wednesday listed 601.03 million new ordinary shares of 50 kobo each at the Nigerian Stock...
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