Posted in NAIJA BIZ

CBN Governor blows hot regarding 41 banned items

Governor of Central Bank of Nigeria, Godwin Emefiele, once again talked tough concerning the Bank’s policy on banning 41 items from the official foreign exchange market. At the 53rd Charted Institute of Bankers Nigeria…

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How Smartmicro MD defrauded First Bank Plc

More facts have emerged on how Mr. Michael Obasuyi Osasogie, Managing Director, Smartmicro Systems Limited defrauded FirstBank to the tune of N11 billion. According to the…

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CBN grants Diamond bank approval to operate as National bank

The Central Bank of Nigeria (CBN) has granted Diamond Bank Plc, approval to operate as a national bank following its application for it. The bank’s…

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Nigeria’s refineries will soon be producing at full capacity

The Minister of State for Petroleum Resources, Ibe Kachikwu has disclosed that the Federal Government would collaborate with Saudi Arabia to revamp Nigeria’s refineries. The refineries…

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How Mobil allegedly shortchanged Nigeria of $1.9 billion

The Federal Government of Nigeria has accused Mobil Oil Producing of allegedly shortchanging the federation in the payment for the oil blocks they acquired and remittance…

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Why NCC seems not ready for a new telecoms operator

The Nigerian Communications Commission (NCC) has given the reason why issuing a new license to another Telecoms operator to serve the Nigerian market is not…

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Nigeria to benefit from UK’s $4.5 billion investment plan

The United Kingdom’s development finance arm, CDC Group Plc have announced plans to invest more than $1 billion into the Nigerian market and $4.5 billion…

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Saudi’s Energy Minister meets Ibe Kachukwu ahead of OPEC’s meetings

The Saudi Arabian Energy Minister, Mr Khalid al-Falih, today flew to Abuja to meet with his Nigerian counterpart, Emmanuel Ibe Kachikwu, ahead of two very important…

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NSE President, Oscar Onyema concludes tenure at ASEA

The Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Oscar Onyema has concluded his tenure as the President of the African Securities Exchanges Association…

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FG switches focus to mining, as it awards licenses

Nigeria’s Minister for Mining and Steel Development, Mr Abubakar Bawa Bwari, today in London disclosed that the Federal Government has given mining contracts to ten exploration…

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Telcos, Banks at loggerheads over SIM swap fraud

There seems to be a brewing crisis between Telecom service provider and commercial banks over the increasing incidence of SIM swap fraud in the country….

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Three Nigerian tier-1 banks get new Fitch Rating

Global Rating Agency, Fitch Ratings, has released its credit rating for three tier-1 banks in the country. The banks include United Bank for Africa (UBA),…

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Could this be the end for stockbroking firms in Nigeria?

In what might be the end for stockbroking firms in Nigeria and Africa at large, Veritaseum, a United States-based blockchain technology firm has hinted that…

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Waltersmith seeks to invest $2 billion to become integrated energy firm

The Chairman/Chief Executive Officer, Waltersmith Petroman Oil Limited, Abdulrazaq Isa has revealed the oil and gas exploration and production company’s plans in the next ten years. In a…

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MTN headache persists as top executives resign

Embattled teleco-giant, MTN is set to lose another high ranking executive over the next few months. According to Bloomberg, MTN Chief Innovation Officer, Herman Singh’s departure…

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Why Arumah Oteh is clamouring for the listing of African SMEs

The African Securities Exchanges Association (ASEA) have been challenged to work towards the listing of at least 44,000 Small and Medium Enterprises (SMEs) out of…

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After Samsung, LADOL ejects another foreign investor from terminal

Barely two months after Lagos Deep Offshore Logistics (LADOL) terminated the operating licence of Samsung Heavy Industries Nigeria Limited at the LADOL Free Zone in…

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FG clears investment risks, assures foreign investors of safety

zainabThe Minister of Finance, Zainab Shamsuna Ahmed has assured foreign investors of the safety of their investments in the Nigerian trade and business sectors at large….

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Ahead of London IPO, Airtel names banks to supervise listing

Telecoms service provider, Bharti Airtel, has announced the appointment of eight international banks to coordinate the London initial public offering for its Africa business. The…

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CRe Nigeria may be delisting soon

The ranks of companies delisting from the Nigerian Stock Exchange may increase as Continental Reinsurance Plc has sent a notice to the Nigerian Stock Exchange announcing a proposed acquisition….

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