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Buhari Backs CBN Flexible Forex Policy, Says It’s Down Payment for Success

The flexible foreign exchange policy of the Central Bank of Nigeria got a presidential nod again yesterday as President Muhammadu Buhari said it would help the country’s economy, which had been badly hit by a slump in oil revenues. “The central bank has moved to introduce a greater flexibility in ...

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Forex Crises: Conglomerates, Multinationals Lose N200bn In 6 Months

Losses incurred by investors in conglomerates, multinational corporations and other big capitalized companies quoted on the Nigerian Stock Exchange, NSE, as a result of the delay in the roll out of the new flexible foreign exchange policy has hit N320 billion as at yesterday. The stock market had recorded a ...

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Deposits In Banks Shrink By N1.03tn

The harsh economic conditions facing the country have led to a drastic reduction in customers’ deposits in banks with the industry recording a decline of about N1.03tn in total deposit, IFEANYI ONUBA reports The Bankers Committee has sent a proposal to the Central Bank of Nigeria to limit across-the-counter withdrawals ...

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Finally, MTN Agrees To Pay N330 Billion Fine

AFTER eight months of going back and forth, telecom operator, MTN, has finally settled issues with the Nigerian government as the Nigerian Communications Commission, NCC yesterday reduced the N1.04 trillion fine on the operator to N330 billion. The operator was also allowed to pay the money in a staggered payment ...

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$200bn W/Africa Growth Market In Need Of Capacity Building- Jadesimi

As world business leaders gathered in Copenhagen, Denmark to rub minds on Sustainable Development Goals (SDGs), as part of strategies for global survival, Managing Director of the Lagos Deep Offshore Logistics base (LADOL), Dr. Amy Jadesimi, has advocated for sustained capacity building by investors in order to adequately service a  ...

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Finally, MTN Agrees To Pay N330 Billion Fine

  Telecommunications giant, MTN Nigeria  said it has reached a final resolution on the N1.04 trillion fine imposed  on it by the Nigeria Communications Commission (NCC) . “MTN will pay the NCC the sum of N330 billion in full and final settlement of the fine in line with an agreed ...

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NIMASA DG Calls For Preservation Of The Marine Environment

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has called on Nigerians especially those living in the coastal regions to protect the marine environment as it is critical to human existence. Dr. Peterside who said this in commemoration of the World Ocean Day ...

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Foreign Refineries To Stop Buying Nigeria’s Crude Oil

The restive situation in the region may lead to a further drop in crude oil export as major refineries across the globe have concluded plans to stop the purchase of  the commodity from Nigeria due to rising uncertainties about the country meeting up with deliveries. This is arising from the ...

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Shippers’ Council Wants More Powers to Regulate Ports Industry

Basking in the euphoria of its recent affirmation by the Federal government as the preferred economic regulatory agency in the maritime sector, the Nigerian Shippers’ Council (NSC) has expressed the need for more powers for it to adequately perform the expected role. Executive Secretary of Council (NSC), Mr. Hassan Bello, ...

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Lagos Traffic Gridlock: Amaechi Calls For More Use Of Waterways

Minister of Transportation, Rotimi Chibuike Amaechi, has called on Lagosians to embrace more use of the waterways transportation system, in order to stem the perennial traffic gridlock in the state. The Minister made the call Tuesday at the first Lagos Traffic Radio Lecture Series with the theme “Migrating Workforce: The ...

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