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NSIA announces N57bn earned income, reveals 2019 outlook

Nigeria Sovereign Investment Authority (NSIA), has declared N57.73 billion as total income earned in 2018. According to the official report on its website, the total income…

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SAHCO eyes double digit growth after listing on NSE

Skyway Aviation Handling Company Plc (SAHCOL), has disclosed its plans to expand its operations to other West African markets While disclosing the plans, the Managing Director/CEO, SAHCOL,…

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Protest breakout today in computer village over attempt to introduce an Iyaoloja

Some tech dealers in computer village, located in the Ikeja Local Govt of Lagos state, discontinued their regular activities for today, as they set out…

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House of Rep member canvasses for fuel subsidy removal

Weeks after the International Monetary Fund (IMF) advised the Nigerian Government to remove the subsidy on Premium Motor Spirit, the Chairman, House of Representatives Committee on Petroleum (Downstream),…

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Senate passes 2019 budget, raises budget bill

The National Assembly has passed the 2019 Appropriation Bill. The N8.9 trillion budget was passed some minutes ago during the Senate’s plenary session headed by Senate…

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Popular Lagos Oriental Hotel is allegedly up for sale?

Popular five star luxury hotel, Lagos Oriental Hotel, is allegedly up for sale. The property was put up for sale at the price of $250 million,…

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Nigeria’s crude oil export suffers due to force majeure declared by Shell, others

Nigeria’s exportation of crude oil has recently been experiencing severe disruption, due to force majeure declared by two of the biggest oil exploration companies in…

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CBN approves private sector participation as cash transit firms

Central Bank of Nigeria (CBN) has approved the revised guidelines for private sector participation as Cash In Transit (CIT) firm or as Cash Processing firm. The…

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Rotimi Amaechi accuses Chinese firm of breaching railway contract

The Minister of Transportation, Rotimi Amaechi, has accused the China Civil Engineering Construction Corporation of breaching a railway contract after the delivery date passed without delivery of…

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Fidelity Bank to become Tier-1 bank, as digitisation affects brick expansion

The Managing Director/Chief Executive Officer of Fidelity Bank Plc, Nnamdi Okonkwo, has disclosed plans by the Nigerian lender to migrate to a Tier-1 bank in the country…

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Seplat reports 66.6% increase in PAT in Q1 2019

Seplat Petroleum Development Company Plc, has released its financial statement for the three months ended March 31st 2019. Below are key highlights of the result: Gross…

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Nigeria’s Population now 201 million amidst high unemployment

Nigeria’s population has risen to 201 million in 2019. This was revealed in the latest State of World Population Report released by the United Nations Population…

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Stanbic IBTC’s bottomline declines on lower non-interest income, write-backs

Stanbic IBTC’s Q1 2019 results showed a mild growth of 2% y/y in Gross Earnings to N58.7bn (annualised; N234.7bn), coming in below our 2019 estimate of…

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Snippets of the 5 newly licensed banks emerge

Unconfirmed reports suggest that the Central Bank of Nigeria (CBN) has issued licences to 5 new banks. Here are details of what is known about two of…

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Access Bank’s XclusivePlus wins best affluent banking initiative in West Africa

XclusivePlus, a premium lifestyle proposition by Access bank, designed to provide special privileges and exceptional services to customers has been awarded “Best Affluent Banking Initiative in…

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Dangote Cement’s Q1 Result: Weak topline and higher OPEX drive weak earnings

Dangote Cement Plc reported a marginal decrease of 0.8% y/y in revenue to N240.2bn in Q1 2019 from N242.1bn in Q1 2018. The annualised Revenue for…

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What can be done to overcome the unemployment crises in Nigeria?

The revised unemployment and underemployment data recently released by National  Bureau of Statistics (NBS), revealed that Nigeria’s official unemployment rate remain unchanged at 23.1% as at Q3 2018…

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FBN General Insurance CEO, Bode Opadokun, addresses financial result

The Managing Director and Chief Executive Officer of FBN General Insurance, Bode Opadokun, has rated the unwavering dedication of the company to their clients as the reason…

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Minimum wage implementation: NLC and State Governors set for another struggle

It has almost been two weeks since the Nigeria Labour Congress (NLC) won its struggle for the upward review of minimum wage from N18,000 to N30,000. Following…

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SEC reveals plan to deploy 10-year Capital Market Master Plan

Mary Uduk, the Acting Director-General of the Securities and Exchange Commission (SEC), has disclosed the commission’s plans to align its 10-year Capital Market Master Plan with current economic…

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