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NNPC explains why it embarked on a major organisational restructuring

The Nigerian National Petroleum Corporation (NNPC), has clarified that contrary to media reports, yesterday, no member of its staff was sacked in the course of the recent…

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NCC confirms MTN’s payment of N235bn out of N330bn fine

The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof Umar Danbatta, has disclosed that MTN Nigeria Communications Plc has paid a total N235 billion out of the N330 billion fine…

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MTN Nigeria addresses allegation surrounding its shares

MTN Nigeria has denied any wrongdoings regarding the sales of its shares which the telecommunications company listed on Thursday, May 16, 2019. Note that some of…

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Fortune Magazine ranks Dangote on World’s Greatest Leaders for 2019

In his first ever recognition by Fortune Magazine, the Chairman of Dangote Group, Aliko Dangote, has been ranked the eleventh World’s Greatest Leaders for 2019. With his…

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Shareholders raise alarm as GTBank and 6 other banks get N145m fine

Shareholders have unanimously lamented the huge fines slammed on seven lenders by regulatory authorities as the penalties for certain infractions during the 2018 business year….

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Nigerian Stock Exchange explains why you can’t buy MTN shares

The Nigerian Stock Exchange has addressed growing frustrations from retail and portfolio investors about their inability to lay their hands on MTN shares. Investors across…

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Latest GDP growth in Agriculture flatter to deceive Government

Latest GDP report from the National Bureau of Statistics once again shines the spotlight on the country’s floundering Agriculture sector. This time, a silver lining,…

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FIRS to start charging VAT on online transactions soon – Fowler

The Federal Inland Revenue Service will start taking Value Added Tax on online transactions any moment from now according to its chairman, Babatunde Fowler. Mr Fowler mentioned…

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MTN Nigeria’s share price hits N119 as shareholders engage in off-market sales

MTN Nigeria‘s share price is now N119.75 after debuting on the Nigerian Stock Exchange (NSE) with an initial N90 per share. Shareholders tapped into the off-market to…

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Captain Rabiu Hamisu Yadudu succeeds Saleh Dunoma as FAAN’s MD

Captain Rabiu Hamisu Yadudu has succeeded Saleh Dunoma as the Managing Director (MD) of the Federal Airports Authority of Nigeria (FAAN). Prior to his appointment, Yadudu was…

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SEC reveals guidelines for issuing cross-border securities

The Securities and Exchange Commission has unveiled draft guidelines for cross-border issuance of fixed incomes and a mutual recognition agreement by the West African Securities Regulatory Authorities (WASRA) for…

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How Distressed Oil Sector Loans Damaged Diamond Bank

More facts have emerged on the reasons why the defunct Diamond Bank surrendered itself for a business combination deal with Access Bank Plc. The deal…

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Emefiele speaks on what he intends to accomplish during his second term

The newly re-appointed Governor of the Central Bank of Nigeria, Godwin Emefiele, over the weekend enumerated the things intends to accomplish during his second term in…

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CIBN records 2,122 petitions between 2001 and 2018

The Chartered Institute of Bankers of Nigeria (CIBN), has revealed in its 2018 annual report that it received petitions from about 2,122 bank customers against their various…

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Seplat Petroleum reappoints Ifueko Marina Omoigui-Okauru as Director

Seplat Petroleum Development Plc‘s shareholders have unanimously approved the reappointment of Ifueko Marina Omoigui-Okauru as an Independent Director of the company. Omoigui-Okauru’s reappointment took place during the…

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NNPC reshuffles management as NPDC boss and 49 others lose their jobs

The Managing Director of the Nigerian Petroleum Development Company, Yusuf Matashi, has been sacked and replaced with Usman Yusuf, the former Senior Technical Assistant to the…

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Why the NSE just blacklisted these stockbrokers, directors, and others

No fewer than 33 persons have been deemed unfit to engage in the Nigerian stock market business. Consequently, the Nigerian Stock Exchange (NSE), has blacklisted them as…

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Official: Nigeria’s External Reserves hit $45bn mark

Nigeria’s external reserves have rallied and hit $45bn mark in May 2019. This is according to data obtained from the Central Bank of Nigeria (CBN) official website….

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UPDATE: Nigeria’s GDP records slow growth of 2.01% in Q1, as Oil contracts

Nigeria’s Gross Domestic Product (GDP) grew by 2.01 percent in real terms, in the first quarter (Q1) 2019, compared to 2.38 percent in Q4 2018. This…

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Microsoft launches Lagos Development Centre, as Sanwo-Olu drums support

American technology giant, Microsoft Corporation, has officially launched its Lagos Development Centre, which is now ready to swing into full operations. Ten Nigerian software engineers have…

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