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CBN says Nigerian banks’ assets and liabilities are now at N41.42 trillion

Nigeria’s apex bank, the Central Bank of Nigeria (CBN), has disclosed that the total assets and liabilities of commercial banks in the country amounted to N41.42 trillion as at October ending. The information, which can be found on page nine of the CBN economic report for November, further noted that the N41.42 trillion is indicative of a 4.6% […]

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SEC threatens to suspend outdated accounts, to address unclaimed dividends

The acting Director-General of the Securities and Exchange Commission (SEC), Mary Uduk, has disclosed that outdated accounts would be suspended as SEC makes effort to settle unclaimed dividends in the capital market. Ban on outdated accounts: Uduk said new initiatives would be implemented to curb unclaimed dividends in 2020. She also said that to resolve all issues and […]

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Dangote Cement gets a surprising replacement for Joseph Makoju as he retires

The Board and Management of Dangote Cement Plc have announced the retirement of Joseph Makoju as a board member and Group Managing Director/CEO of the cement maker. According to a statement signed by the Deputy Company Secretary (Edward Imoedemhe) and issued to the Nigerian Stock Exchange (NSE) earlier this week, the resignation will take effect on January 31st, 2020. That Michel […]

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FG allocates N61 billion to Nigeria-Siemens power deal

The Federal Government has allocated N61 billion for the Nigeria Electrification Road map which will be developed in partnership with Siemens AG. In July 2019, the government and Siemens signed a Letter of Agreement on the Nigeria Electrification Road map after President Muhammadu Buhari and the German Chancellor, Angela Merkel met on August 31, 2018, in Abuja. In order to […]

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PMS subsidy rises to N47.5/litre

The Federal Government subsidy on Premium Motor Spirit, popularly known as petrol, has risen to N47.5 per litre, as the crude oil price increased to $67.86 per barrel yesterday, data from the Petroleum Products Pricing Regulatory Agency disclosed. The data disclosed that PPPRA’s PMS pricing templates for December 12, 16, 17, 18, 19 and 23 put the expected open market […]

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Basketball in Africa: What future holds

One of the biggest sports leagues in the world, the National Basketball Association (NBA), recently announced that they would be forming a new basketball league on the African continent in the next decade. According to Bleacher Report, the Basketball Africa League is expected to commence exactly on March 20, 2020, in Senegal. The new Basketball Africa […]

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Pantami reacts to CBN’s ATM fee cut, keeps mute on directive to cut data cost

The Minister of Communications and Digital Economy, Isa Pantami has reacted to the decision of the Central Bank of Nigeria (CBN) to slash withdrawal fees charged after the third withdrawal from Automated Teller Machines (ATM). Pantami in a statement commended the directive to reduce withdrawal fee charged for the use of other banks’ ATM. The CBN cut the fee […]

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World Bank picks holes in CBN’s policies on lending, MSMEs loans

The Central Bank of Nigeria (CBN) has been warned by the World Bank to seize supporting undercapitalised banks in the country. The support, according to a new report by the international financial institution, could deteriorate the assets of Nigerian commercial banks. According to the report, the CBN had supported four banks that were severely undercapitalised with liquidity without requiring recapitalisation plan. The World […]

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FG projects $2 billion annual revenue from Escravos Gas project

The Nigerian government has been projected to earn $2 billion annually from the Escravos Gas to Liquid (EGTL) project, the Nigerian National Petroleum Corporation (NNPC) disclosed. According to Mele Kyari, the Group Managing Director, NNPC at the sign-off meeting of the EGTL project, which is in partnership with Chevron Nigeria Limited (CNL), Chevron Nigeria would be able to […]

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ITC, United Nations partner to boost employment prospect for youths

In a bid to create job opportunities for youths by boosting their employment prospects, the International Trade Centre (ITC) and partners of the United Nations (UN) Global Initiative on Decent Jobs for Youth have joined hands to launch a joint Knowledge Facility. According to ITC, the facility will provide a learning avenue for youths through the provision of […]

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Train 7 project: NLNG reacts after NNPC, others delay decision

Nigeria Liquified Natural Gas Limited (NLNG) has reacted to the set-back delaying the final investment decision meeting involving shareholders of the company on the Train 7 gas project. The recent failure by Nigerian National Petroleum Corporation (NNPC), Shell, Total and Eni to reach an agreement has added to the 10 years delay already recorded. The Nigeria […]

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Airtel Africa to raise $37.5 million in Malawi

Airtel Africa is set to raise $37.5 million in Malawi Stock Exchange as the telecommunication company plans an initial public offering (IPO). The IPO would aid the Malawian investing public own 20% shares of the network provider. Nairametrics had reported that Airtel Africa would embark on an IPO of its Malawian subsidiary on the main market of the Malawi Stock […]

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Ways you can create urgency to increase conversions & sales for your business

Urgency is one of the most powerful aspects of human psychology. According to behavioural psychologists, urgent situations cause us to suspend deliberate thought and act quickly. The longer someone deliberates over whether to buy your product or service, the more likely it is that they’ll talk themselves out of it. So how can you get prospects […]