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Business

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

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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

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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

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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

CBN waives requirement for COVID-19 loan

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The Central Bank of Nigeria (CBN) has waived the requirement for the provision of guarantors by Households and Small and Medium Scale Enterprises (SMEs) applying for its N50 billion COVID-19 Targeted Credit Facility.The apex bank made this  k...Read more

BUA Cement revenue up 25.1%

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BUA Cement Plc yesterday announced a 25.1 percent increase, amounting to N54 billion in revenue for the first quarter ended March 31, 2020.An analysis of the firm’s results showed BUA Cement’s profit before tax (PBT) increased by 15.7 ...Read more

Operator lauds govt on A’Ibom Deep seaport

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Chairman/Chief Executive Officer (CEO), CLEDD Nigeria Limited, a maritime sector logistics operator, Chief Charles Ukoette, has commended the Federal and Akwa Ibom State governments for driving the Ibom Deep Water Port (IDWP).This followed the Fed...Read more

Olam to produce 240,000MT of rice

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To save Nigeria from the effects of a post-COVID-19 food crisis, Olam Nigeria has expressed its commitment  to make the country the agricultural hub on the  continent.It added that it would produce a total of 240,000 metric tons (Mt) of ...Read more

UPDC lists N16b rights issue on NSE

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UACN Property Development Company (UPDC) Plc has listed its N16 billion rights issue at the Nigerian Stock Exchange (NSE).UPDC had recorded full subscription to its N16 billion rights issue. The company had offered 15.96 billion ordinary shares of...Read more

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