Business

CBN offered an additional $180 million to help Naira

The Central Bank of Nigeria (CBN) has offered additional S180 million to meet bids for wholesale auction and requests for invisible such as medicals, school fees and personal travel allowances valued … Continue reading

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NNPC to generate about 4,000 megawatts of power in the next 10 years

The Nigerian National Petroleum Corporation (NNPC) says it will generate about 4,000 megawatts of power in the next 10 years to boost power supply in the country. The Corporation’s Chief … Continue reading

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Capital Oil yet to return 82 million litres of petrol valued at N11 billion

  The Nigerian National Petroleum Corporation (NNPC) on Friday said it had taken measures to recover 130 million litres of petrol that evaporated from the depots of Capital Oil & … Continue reading

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The ownership of the OPL 245 should be returned to Shell and Agip – Court

A Federal High Court, Maitama Abuja, has vacated its order for a temporary forfeiture of Oil Prospecting Licence (OPL) 245 to the Federal Government, pending the conclusion of the investigation … Continue reading

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SWIFT cuts off the remaining North Korean banks still connected to its system

SWIFT, the inter-bank messaging network, which is the backbone of international finance, said it planned to cut off the remaining North Korean banks still connected to its system, as concerns … Continue reading

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Nigeria’s telecom consumers spent $6.6 billion in 2016 – NCC

Nigerian telecom consumers spent a $6.6 billion in 2016, Umar Danbatta, the Executive Vice Chairman, Nigerian Communications Commission (NCC), has said. Mr. Danbatta disclosed this on Wednesday in Abuja during … Continue reading

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CBN sustain the supply of foreign exchange in the market

The Central Bank of Nigeria (CBN) on Tuesday sustained the supply of foreign exchange to the market by releasing 195 million dollars. The  measure had a resonating effect on the  … Continue reading

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Mambilla hydro-power should be made a reality

The Mambilla hydro-power project, the biggest of such infrastructure in the country, has been in gestation for 35 years. This is despite millions of dollars already committed to it. Once … Continue reading

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Banks seek customers to buy surplus foreign currencies they hold

Banks are seeking customers to buy surplus foreign currencies they hold following the flooding of the banks with dollars by the Central Bank of Nigeria (CBN). In an effort to … Continue reading

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FIRS realised the sum of N27.08bn from the waiver of tax penalty and interest programmes

The Executive Chairman, Federal Inland Revenue Service, Mr. Tunde Fowler, has said that the agency realised the sum of N27.08bn from the waiver of tax penalty and interest programme. The … Continue reading

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