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Foreign trade volume hits N32.26trn in 2018 – NBS

The Nigerian National Bureau of Statistics (NBS), said the country recorded a total trade value of N32.26 trillion year-on-year in 2018, representing 39.3 per cent…

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EFCC files suit against ex Skye Bank Chairman Tunde Ayeni

The Economic and Financial Crimes Commission (EFCC) have initiated legal action against the former Chairman of Skye Bank, Tunde Ayeni and its former Managing Director, Timothy…

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First Bank kicks off 125th anniversary celebrations

First Bank of Nigeria Limited on Friday kicked off activities marking its 125th anniversary with a flag hoisting ceremony, at its Marina head office.  Present at…

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WARNING: This malware could withdraw all your money

A newly discovered computer malware — Winpot — could be used by cybercriminals to automatically withdraw customers’ money from Automated Teller Machines, ATMs. The discovery was made…

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Shell faces Dutch prosecution over Nigeria license

Netherlands’ Public Prosecutor’s office has informed Royal Dutch Shell Plc of its intention to prosecute the oil company over a license in Nigeria, which has resulted…

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FG to ₦39.9 billion monthly Subsidy as Petroleum Import declines

The importation of refined petroleum products will decline in March 2019, even as Nigerians consume an average of 53.2m litres of PMS daily. According to…

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Investors should take advantage of over $48bn opportunities in oil sector

There are more than $48 billion worth of investment opportunities in Nigeria’s oil and gas sector, according to the Nigerian National petroleum Commission, NNPC. And…

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MTN’s profit projection unhindered by numerous regulatory troubles

MTN Group, the parent company of Nigeran Telecommunication firm, MTN Nigeria, has projected an increased profit despite the telecom company’s financial tussle with various African…

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Bank stocks see biggest fall, as investors reacts to post-election result

Stocks of Nigerian banks are starting to react to the outcome of the Nigerian election, which saw the incumbent, President Muhammadu Buhari defeat the Presidential…

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Next Level: Exchange rate under Buhari by 2023

As President Muhammadu Buhari won Nigeria’s recently-concluded presidential election for his second term bid, Nigerians who voted-in the president again ‘surprisingly’ do not have demanding…

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Days after its announcement, IPMAN is yet to sell petrol at N140

Contrary to a directive from the national president of Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okworonkwo, for oil marketers to sell petrol at N140 per…

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After its latest acquisitions, Indorama is set to investment $5.5 billion

After its acquisition of a PET plant in Egypt last year and in Nigeria this month, Indorama Ventures, one of the world’s leading producers in the…

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Dangote gains $5.8 billion in one day

The total net worth of Dangote Group President, Aliko Dangote, rose to $16.6 billion after he gained $5.8 billion within 24-hours, becoming the only billionaire from…

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Female banker leads eight nominees for Emefiele’s job

If not re-appointed, the Governor of the Central Bank of Nigeria, Godwin Emefiele, might vacate his position for one of his deputies, Aishah Ahmad, a top banker…

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Why a major investor is leaving DSTV’s parent company, MultiChoice

Africa’s biggest company — Naspers Limited — is spinning off from MultiChoice, as part of a deliberate plan to refocus its business model as a…

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AfDB expends $11.3bn in support of projects across Africa

The Africa Development Bank (AfDB) has invested as much as $11.3 billion to support some transformative projects in the African banking industry. This was the talking point in Abidjan, Monday, during a consultative meeting held between the Governors of AfDB’s West African regions and the Bank’s President, Mr Akinwunmi Adesina. Although the nature of the projects are not exactly clear, participants at the Abidjan meeting unanimously agreed that the projects were helping to “change lives”. Even the AfDB President (Mr Adesina) agreed. In his opening statement during the occasion, he expressed his optimism for an accelerated development in Africa, even as he edged the AfDB regional governors to take charge towards actualising growth. “our ultimate goal is to ensure that the governors are much closer to the bank, and that you are integrally involved in the wider vision and direction, particularly as it pertains to the challenges and needs of your respective regions. “today, i am filled with hope; hope because africa is changing; hope because across the continent, despite challenges, you can see a rising determination to turn things around.” New focus areas identified …

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Coca-Cola sales decline in Nigeria amid stiff competition

Coca-Cola HBC, the parent company of The Coca-Cola Company in Nigeria said its business in Africa’s largest economy witnessed decline for the full year 2018….

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BDCs get CBN, EFCC’s backing against counterfeit notes

The Association of Bureaux De Change Operators of Nigeria (ABCON) has secured the support of the Central Bank of Nigeria (CBN) and Economic and Financial Crimes…

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Report shows how banks’ 2018 non-performing loans reduced slightly

Data from the National Bureau of Statistics (NBS) has shown that Nigerian bank’s non-performing loans (NPLs) for full-year stood at N8.17 trillion. This amount is…

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Africa Prudential Plc to pay N1 billion gross dividend to shareholders

Africa Prudential Plc has announced its proposed plans to pay a gross dividend of ₦1 billion. The payment of dividend represented 0.50 kobo per ordinary share…

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