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Business

NNPC Spent N3.8tr In 3 Years Without Approval – Oshiomhole

The Federal Government on Monday revealed that Nigeria National Petroleum Corporation (NNPC) spent N3.8 trillion without approval from 2012 to May 2015. Edo State Governor Adams Oshiomhole revealed the breach of extant laws during a briefing of State House correspondents jointly with Mallam Nasir El-Rufai and Alhaji Abdulazeez Yari, Kaduna ...

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I Have No House Outside Nigeria – Dangote  

Alhaji Aliko Dangote, Africa’s richest man and foremost business mogul, has disclosed that despite his wealth, he has no residential property outside Nigeria. Dangote, whose 2015 net worth was put at $21.6 billion, according to Forbes, also revealed how the late Chief M. K. O. Abiola discouraged him from investing ...

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BVN Registration Deadline: 16m Customers Risk Being Denied Service After June 30 By Patrick Aigbokhan

Following the June 30 deadline for registration of Banks Verification Number (BVN) as given by the Bankers’ Committee chaired by Central Bank of Nigeria (CBN), about 16.1 million customers of Deposit Money Banks in Nigeria will be denied banking services from Wednesday, July 1. The Bankers’ Committee, which comprises the ...

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FAAN Moves To Boost Revenue, Recover Debts

By Patrick Aigbokhan The Federal Airports Authority of Nigeria (FAAN) has said it is putting measures in place to boost the revenue base of airports for greater productivity. As part of measures to achieve its goal, the authority said it has established a special task force on revenue enhancement, which ...

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Apapa Traffic Gridlock: Ambode Threatens Sanctions Against Errant Tanker Drivers

By Patrick Aigbokhan As a measure to checkmate the excesses of traffic gridlock at major points in the Apapa area of Lagos state, Governor Akinwunmi Ambode said a task force would be immediately set up to ensure 24 hours’ surveillance of traffic flow in the area. Ambode spoke when he visited major traffic ...

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2 Banks Lose Millions To Robbers In Lagos

Heavily-armed robbers, in commando-style, Wednesday held residents of Ipakodo area of Ikorodu in Lagos hostage for about two hours as they robbed two major banks in the area. The scene of the robbery operation was just a stone’s throw to Ipakodo Divisional Police station. But the policemen who engaged the ...

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At Fidelity Bank, We’re Committed To Excellent Customer Experience – Nnamdi Okonkwo, MD

  Mr Nnamdi Okonkwo, Managing Director/Chief Executive Officer, Fidelity Bank Plc, has said that the bank will continue to reward loyal customers in order to show appreciation for their patronage of the bank’s products over the years. Nnamdi Okonkwo was emphatic that such appreciation will encourage the banking public to ...

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CBN Says: It’s Shameful To Import Toothpick, Fish, Eggs, Sugar, Wheat, Bans Official Forex Access

The Central Bank of Nigeria (CBN) Wednesday said that importers of rice, cement and other products will no longer access Foreign Exchange from CBN, banks and bureaux de change for such importation. Mr Godwin Emefiele, CBN Governor, who disclosed this at a news conference in Abuja, said the measure would ...

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Reps Probe $8bn NNPC Oil Swap Deal Despite Row

The House of Representatives Wednesday resolved to constitute an ad-hoc committee to investigate alleged malpractices by Nigerian National Petroleum Cooperation (NNPC) in the $8 billion crude oil swap contracts involving five oil companies, but some members of the House objected to the probe. The contracts in question were brokered by ...

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Public Investment Is Still A Critical Factor To Power Reforms’ Success – Amadi

  The Nigerian Electricity Regulatory Commission (NERC) has listed proper project management and prudent public sector investment as critical success factors for total overhaul of the power sector in the country. Dr Sam Amadi, Chairman/Chief Executive of NERC, commenting on the success factors, said: “When our capacity of project management ...

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