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Diamond Bank Plc suspended from trading shares on the NSE

Diamond Bank Plc shares have been placed on full suspension by the Nigerian Stock Exchange (NSE), with effect from today, March 20th, 2019. According to…

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FIRS to increase VAT after Senate confirmed minimum wage increase

The Federal Inland Revenue Service (FIRS) has announced it will increase the Value Added Tax (VAT) by between 35 and 50 per cent in 2019. This move…

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NIBSS Projects a record 570m P.O.S transactions in 2019

During a media parlay on Tuesday, March 19th, the Acting MD/CEO of the Nigeria Inter-Bank Settlement System (NIBSS), Mr. Niyi Ajao, stated that the company…

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BUA joins GTBank to sponsor the 2019 Lagos International Polo Tournament

Last week, the city of Lagos was fired up with the hosting of the 2019 Lagos International Polo Tournament. The event had GTBank and BUA Group…

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Presco falls sharply in today’s trading session

The Nigerian Stock Exchange declined for the second day trading day this week. The All Share Index ended today’s trading session at 31,082.32 basis points….

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OFFICIAL: NNPC records ₦12.13bn trading surplus in December

The Nigerian National Petroleum Corporation (NNPC) has reported a trading surplus of ₦12.13billion in the oil and gas sector for December 2018. This is revealed in…

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Britain’s richest billionaire may acquire Chelsea FC for N1.2 trillion

British billionaire, Sir Jim Ratcliffe, may succeed Roman Abramovich as Chelsea FC’s owner. Ratcliffe had held talks over the potential takeover. £2.5 billion valuation for Chealsea? – In…

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Transcorp Hotels poised to continually redefine Africa’s hospitality landscape

The Chief Executive Officer of Transcorp Hotels Plc, Mrs Owen Omogiafo, has doubled down on the company’s commitment to position Nigeria as the preferred destination for local and…

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Nigerian Breweries pioneers Nigeria’s first solar-powered brewery

Nigerian Breweries Plc (NB) has entered into a strategic partnership with CrossBoundary Energy to pioneer Nigeria’s first solar-powered brewery. The fully-financed solar Power Purchase Agreement for a major…

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Facebook ‘will die’, replaced by the next cool Social Media – Mark Essien

Nigerian software developer and founder of Hotels.ng, Mr Mark Essien, recently opined that that the days of Facebook could be over soon. Taking to Twitter,…

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CBN sets N50m minimum capital for Tier-2 microfinance banks

The Central Bank of Nigeria (CBN) has set a minimum capital of N50 million for Tier 2 unit microfinance banks. The apex bank made this known…

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Number of licensed microfinance banks reduces by 12.7% in 1 year

The number of licensed microfinance banks across the 36 states of the country and Federal Capital Territory (FCT), have dropped by 12.7 per cent in…

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It seems the N22.5bn forfeiture order against Ecobank is false

Ecobank Transnational Incorporated’s special purpose vehicle  — O & O Networks Limited —has refuted last week’s media reports that claimed Ecobank was ordered to forfeit the sum of N22.5…

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Why stakeholders believe more mergers are feasible in banking sector

In view of the ongoing merging process between Access Bank Plc and Diamond Bank Plc, industry stakeholders have predicted the emergence of more mergers in…

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Access Bank and Diamond Bank get final approval to merge

The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), have both granted Access Bank Plc and Diamond Bank Plc the final…

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Four reasons why Buhari must reject the revised NHF bill

The revised National Housing Fund Law, which was recently passed by the National Assembly, could lead to elevated costs for several businesses in the country….

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Top 10 high-yield money market funds that beat inflation in Nigeria

It is not uncommon, but a risk management strategy for investors (who worry that stocks are either too expensive or not performing well), to buy…

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President Macron launches €2.5bn initiative to support African SMEs

Through a new initiative called “Choose Africa”, the French Government will contribute towards the development of the African continent. According to the French President, Emmanuel Macron,…

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EXPLAINED: The reasons why many Nigerian startups fail

Popular Nigerian realtor and human rights activist, Mr Segun Awosanya, has explained why many Nigerian startups fail. Sharing his thoughts on the matter via Twitter, yesterday,…

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Okonjo-Iweala not considered, as nominations for World Bank’s President closes

Nigeria’s Ngozi Okonjo-Iweala doesn’t stand a chance of being The World Bank’s President, at least for now. This is because nominating process for the position…

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