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CBN Approves N3m Loan Per Beneficiary Of YIEDP

In an effort to reduce the unemployment rate in the country, the Central Bank of Nigeria, said it has approved the sum of N3 million credit line to each beneficiary of Youth Innovative Entrepreneurship Development Programme, YIEDP. The Governor of Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, who disclosed ...

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Customs Service Bans Importation Of Rice Through Land Borders

The Nigeria Customs Service (NCS) generated N1.69 billion in the last two months. while also announcing the total ban of rice importation through the nation’s land borders. The Public Relations Officer of the service, Mr Wale Adeniyi, made this known to reporters on Tuesdayin Abuja on Tuesday. According to him, ...

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Nigeria Spent N1.24trn On Petrol Imports In 2015 —NBS

Nigeria spent N1.239 trillion on importation of Premium Motor Spirit, PMS, also known as petrol in 2015, National Bureau of Statistics, NBS, has revealed. The NBS, in its Foreign Trade Statistics for the Fourth Quarter of 2015, stated that the amount spent on fuel import in 2015 represented an increase ...

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Banks Risk Bankrupcy Over Exposure To Oil — Expert

An academic has warned that unless something urgent is done, there is the possibility of a number of Nigerian banks going bankrupt due to their exposure to the energy sector. Speaking at the just concluded Sixth African Petroleum Congress and Exhibition (CAPE VI) in Abuja, a Professor of Economics from the ...

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Economy: Tough Choices Face CBN Policy Committee Today —Analysts

As the Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, meets today and tomorrow to review economic and monetary developments since its last meeting in January, and take some measures, some financial institutions and economic analysts have indicated hard choices in the face of worsened macroeconomic headwinds. ...

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RIFAN Targets Production Of 1m Tonnes Of Rice Annually

Rice Farmers Association of Nigeria (RIFAN) in Kebbi says it targets production of one million metric tonnes of rice annually on the platform of Central Bank of Nigeria’s Anchor Borrowers Programme. The Chairman of the Association in Kebbi, Alhaji Sahabi Augie, said this in an interview with the News Agency ...

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Oil Price Slump: Nigerian Companies’ll Survive — Kachikwu

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday, allayed fears that the volatility in the price of crude oil in the international market would plunge oil and gas companies and financial institutions in the country into bankruptcy. According to him, Nigerian companies are resilient and will survive the ...

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Revenue From Non-Oil Exports Down By 58% To $4.3bn — CBN

The Central Bank of Nigeria (CBN) has said that the revenue from non-oil exports fell sharply by 58 percent to $4.39 billion in 2015. Meanwhile, Zenith Bank has expressed its readiness to enhance revenue from non oil exports by assisting its clients with financing support needed export. CBN Governor, Mr ...

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LEADERSHIP CHANGE AT NIMASA: Controversy Trails Fate of Jauro …As Dakuku Assumes office as new DG

The assumption of office by Dr. Peterside Adolphus  Dakuku as the new Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Tuesday, has sparked off controversy as to the fate of the erstwhile acting DG of the agency, Alhaji Haruna Baba Jauro, who was last week relieved of his ...

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Inflation jumps to three-year high at 11.4%

The Nigerian headline inflation jumped to 11.4 percent in February 2016 from 9.6 percent in January, inching closer to 11.98 recorded in December 2012, the Nigerian Bureau of Statistics (NBS) has confirmed. According to the NBS report released on Tuesday, inflation rate has risen consistently since October 2015 till date, ...

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