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REVEALED: States’ total debts hit N5.15tn in 2018

The total external and domestic debts of States in Nigeria hit N5.15 trillion in 2018. This is revealed in the latest Domestic and External Debt Stocks…

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TeamApt obtains switching licence from the CBN

The TeamApt team led by its Chief Executive Officer Tosin Enilorunda held a press briefing recently, where several issues pertaining to the company and financial services industry where discussed. Here…

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FG receives N185m from Islamic Bank to support textile, agric sectors

The Federal Government has secured a technical assistance financing from the Islamic Development Bank (ISDB). The agreement was confirmed today, Monday, in a statement issued by Paul Ella,…

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NERC moves to foster ‘reasonable’ electricity billing with new permits

Nigerian Electricity Regulatory Commission (NERC), on Friday, April 5th, 2019, announced that it had issued permits to Meter Asset Providers (MAPs) that were successful in the…

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ICAN urges FG, others to focus on transparency for improved economy

The Institute of Chartered Accountants of Nigeria (ICAN), has called on corporate organisations, and the Government to focus on transparency and accountability, as well as the distribution of…

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MTN, Ugandan Government clash over licence renewal fee

The licence fee offered by the Uganda Communications Commission to MTN Uganda has been called into question, after the country’s network regulator charged the telecom company higher than the licence…

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Bank directors urge banks, others to share information on cybersecurity

Nigerian bank directors have unanimously tasked the country’s financial institutions to constantly share information on cybersecurity that will help the fight against hacking and other…

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Former Zenith Bank Investment Guru, Michael Anyimah, moves to rival First Bank

Michael Anyimah, who headed tier-1 lender Zenith Bank Plc’s trading desk, has moved to another tier-1 operator.   According to a notice sighted by Nairametrics (which is still subject to regulatory approval by the Central…

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Despite Power constraints, Nigeria’s industrial sector shows growth prospect

The Central Bank of Nigeria (CBN) Business Expectation Survey (BES) Report for the month of March 2019 reveals that insufficient power supply has remained the leading factor…

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Dangote had to withdraw $10m to confirm he was wealthy

Africa’s richest man, Alhaji Aliko Dangote, said he didn’t believe how wealthy he was until he withdrew $10 million from his bank account all at…

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Afreximbank urges Nigeria to sign AfCFTA amidst rising concern among local manufacturers

The President of the African Export-Import Bank (Afreximbank), Benedict Oramah, has advised the Federal Government of Nigeria  to sign the African Continental Free Trade Agreement (AfCFTA). The advice comes in…

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FirstBank empowers over 7000 students on Financial Literacy, commemorates the Global Money Week (GMW)

Nigeria’s premier financial services brand, First Bank of Nigeria Limited, joined over 50,000 global institutions to commemorate the 2019 Global Money Week (GMW) which took place on 25…

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Nigeria set to become exporter of refined crude products –IMF

Nigeria will become an exporter of refined crude products when Dangote Refinerycommences its operation. This is according to the International Monetary Fund (IMF). While acknowledging that Nigeria is a…

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A quick look at the evolution of money

Money has come a long way. From the interchange of goods for goods without proper evaluation, to commodity money, our understanding of money has evolved…

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Oando sells minority stake in Axxela

In a tweet posted on its official handle and website, Axxela Limited (formerly known as Oando  Gas and Power) has announced the divestment of Oando Plc’s 25% stake held in the…

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Konga set to beat Jumia as Africa’s first profitable e-commerce business

The Co-Chief Executive Officer (CEO) of Konga Group, Nick Imudia, has disclosed that the financial result of the e-commerce company shows Konga is edging closer to becoming the first profitable…

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Switzerland to file suit against Nigeria over detained vessel

Swiss authorities are considering legal proceedings against the Nigerian Government for keeping a Swiss-flag-carrying oil tanker for over a year. This comes after diplomatic efforts were…

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FIRS going after 55,000 millionaire tax debtors to meet mid-year target

The Federal Inland Revenue Service (FIRS) plans to generate about N750 billion from about 55,000 millionaire tax debtors. This target will be achieved with the bank accounts substitution exercise….

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Nigeria Economy is recovering, but too slow to reduce poverty – IMF

The International Monetary Fund (IMF) has revealed that Nigeria’s economy is indeed recovering from the substantial trade shock that triggered the 2016 recession. However, the…

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Ohiwerei resigns as Keystone Bank’s CEO, lender appoints another

Keystone Bank Limited has appointed Abubakra Sule as an acting Managing Director/Chief Executive Officer, after the resignation of its former CEO, Obeahon Ohiwerei. Why Ohiwerei resigned…

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