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Business

AMCON seizes Doggi Group assets

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The Asset Management Corporation of Nigeria (AMCON) has seized assets belonging to Alhaji Umaru Baba Abdullahi, the Chief Promoter of Doggi Group Limited over N440 million debt.The corporation took over the assets after an order of Justice A.I. Ch...Read more

NIMASA floating dock to generate N12b annually

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The N50 billion floating dock acquired by the Nigerian Maritime Administration and Safety Agency (NIMASA), will be generating N12 billion annually.The floating dock was acquired by the agency in 2018 as part of its efforts to reposition the nation...Read more

CBN to disburse N432b non-interest loans to farmers

 2506     1946

The Central Bank of Nigeria (CBN) will soon release the framework for the disbursement of some N432 billion non-interest loans to farmers as part of efforts to further integrate non-interest finance into the national financial structure and boost ...Read more

Fed Govt mulls new Discos to improve electricity

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The Federal Government is considering increasing the number of electricity distribution companies (Discos) in order to improve electricity supply.Speaking during an inspection visit to the Abuja Electricity Distribution Company (AEDC) yesterday in...Read more

Lagos unveils Lekki regional road to reduce travel time

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The Lagos State Government plans to deliver its Regional Road Project in Lekki within the next two years.The road runs parallel to the Lekki-Epe Expessway and it is expected to ease the perennial traffic gridlock along the Lekki corridor and serve...Read more

Naira dips by N24 to N385/$

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The Naira depreciated by N24 to close at N385 per dollar on Thursday at the official market. It had exchanged at N361 to a dollar on Wednesday as demand pressure intensified.The pressure on the Naira was heightened after news of Federal Government...Read more

CBN: Race to avert another recession

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All known  authorities  acquainted with Nigeria’s economic management and its direction since the outbreak of the COVID-19 have spoken, saying pointedly that the economy is heading towards a recession.When it happens, not if, it wi...Read more

Domestic flights to wait, says Fed Govt

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Domestic flights will no longer resume on June 21, Minister of Aviation Hadi Sirika said yesterday.The minister spoke during the briefing by members of the Presidential Task Force on COVID-19 in Abuja.He also explained that a new date would be fix...Read more

COVID-19: Juma’at prayers to begin in Kwara on Friday

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The Kwara State Council of Ulamas on Tuesday announced the commencement of Juma’at prayers from Friday, June 19, 2020. This is sequel to the approval of the Emir of Ilorin, and chairman of the state council of chiefs, Dr. Ibrahim Sulu Gamba...Read more

Edo APC primaries: Appeal Court gives appellant 24 hours to regularise records

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A Court of Appeal sitting in Benin City, Tuesday, granted a motion for accelerated hearing for the appeal to a suit filed by the National chairman of the All Progressives Congress, Adams Oshiomhole, challenging the lower court restraining order. ...Read more

Smile cushions virus impact with data plan

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Telecoms firm, Smile Communications said it has significantly changed its data plans as a measure to cushion the negative effect of the COVID-19 pandemic on its customers and the nation’s economy.Its Chief Marketing Officer, Abdul Hafeez, sa...Read more

Govt targets two million farmers in agric intervention scheme

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The Federal Government  is targeting about two million smallholder farmers across the country through a revolutionary agric-focused intervention scheme to mitigate the impact of COVID-19 on food production.The scheme tagged Agric for Food and...Read more

MTN donates equipment to police hospital

 1959     1722

MTN Foundation has donated medical equipment to the Nigerian Police Hospital, Ikoyi.The items, which comprise three patient vital sign monitors, two cardiotocography machines, two radiant warmers and one 1.5HP split unit air conditioner, is part o...Read more

Non-sovereign bonds hit N1tr as Dangote Cement lists N100b bond

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NIGERIA’s largest quoted company and Sub-Saharan Africa’s largest cement company, Dangote Cement Plc has listed its N100billion debut bond on the Nigerian Stock Exchange (NSE), paving the way for investors to trade on their bonds.The l...Read more

Nigerians to pay more for electricity from July

 1729     1506

Nigerians are expected to pay higher electricity tariff from next month, the Minister of Power, Sale Mamman, insisted yesterday.He spoke during his presentation at an investigative public hearing on: “Power Sector Recovery Plan and the Impac...Read more

Lawan: Nigeria loses $29b to power failure yearly

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Senate President Ahmad Lawan on Monday lamented that Nigeria loses about $29 billion yearly to irregular and poor power supply.Lawan stated this while declaring open an investigative public hearing on a motion entitled: “Power Sector Recover...Read more

Govt appoints Eweluka NBET MD

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Minister of Power, Engr.  Sale Mamman has announced appointment of Dr. Nnaemeka Eweluka as the new Managing Director/CEO for the Nigerian Bulk Electricity Trading, PLC (NBET).In a statement which his Adviser on Media, Mr. Aaron Artimas, issue...Read more

Oramah gets second-term at Afreximbank

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African Export-Import Bank (Afreximbank)   shareholders  have voted and re-appointed Prof. Benedict Oramah as President of the Pan-African multilateral financial institution for a second five-year term.The decision was announced in ...Read more

‘Informal sector contributes $10tr to global economy’

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The contribution of the informal sector to global economy has been estimated at $10 trillion, an indication of how important the sector is to growth and development, analysts and researchers have said.Rising from a webinar organised on the need to...Read more

‘Alleged N5m allegation against Iyaloja-General wicked’

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The leadership of Computer Village, Ikeja,  on Monday described as lies from the pit of hell, allegation purporting that the Iyaloja-General of Lagos State, Mrs Folashade Tinubu-Ojo, asked it to mobilise N5million daily from the market for he...Read more

World Bank: per capita income to shrink

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The shock of the coronavirus pandemic and shutdown measures to contain it have plunged the global economy into severe contraction.According to World Bank forecasts, the global economy will shrink by 5.2 per cent this year. That would represent the...Read more

Access Bank supports maternal health

 1512     1326

Access Bank has added another feather to its cap through its W Initiative Maternal Health Service Support (MHSS) scheme.The W Initiative has welcomed the birth of two new babies to the couples who accessed the MHSS financing for their IVF (In-Vitr...Read more

Union Bank, TEDxLagos partner on new ideas

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Union Bank of Nigeria (UBN) Plc and the organisers of TEDxLagos have partnered to host entrepreneurs, social advocates, innovators and thought leaders to explore new and innovative ideas and strategies.At the virtual TEDxLagos event tagged ‘...Read more

Hurdles before digital economy

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STAKEHOLDERS in the telecoms industry have advice for the Nigerian Communications Commission (NCC): Address the challenges besetting the telecoms sector if the National Digital Economy Policy of the Federal Government will not remain a paper tiger...Read more

OPEC cut: Oil revenue to drop by N140b

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A dip in the Federal Government’s revenue is in the offing. This is because following the cut in oil production quota by the Organisation of Petroleum Exporting Countries (OPEC) and its allies.The revenue accruable to the Federal Government ...Read more

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