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SEC Sacks OANDO Board, Bars Wale Tinubu, Deputy for 5 Years

The Securities and Exchange Commission of Nigeria, SEC, has concluded its investigation of energy provider, OANDO PLC, and sacked its governing board. The apex regulatory institution of the Nigerian capital market, supervised by the Federal Ministry of Finance, via a statement on Friday, ordered that the affected board members to …

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CBN Keeps MPR at 13.5%

By Gboyega Adeoye The Nigerian apex bank, Central Bank of Nigeria, CBN, has kept its benchmark interest rate at 13.5 per cent. The Bank also made a 0.5 percentage point cut at its previous meeting.  The bank’s position is coming a day after the National Bureau of Statistics, NBS, said …

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Revealed! Top Nigerians Owing N906B Debts

The Assets Management Corporation of Nigeria (AMCON) has distributed the names of its main one hundred and five Nigerians who are owing the nation an aggregate whole of N906 billion. AMCON said the rundown must be discharged. He said, “it has become necessary as all avenues provided by the corporation for the …

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GDP Records Slow Growth of 2.01% In 2019 First Quarter As Oil Slumps

Nigeria’s Gross Domestic Product (GDP) grown by  2.01 percent in real terms, in the first quarter (Q1) 2019, compared to 2.38 percent in Q4 2018. This is revealed in the latest GDP data released by the National Bureau of Statistics (NBS). This is a difference of – 0.78 percentage points from …

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AIS Automation Stalls As Customs Refuses Clearance of Equipment

To realise a speedy completion of the Automation of the Aeronautical information Service, AIS project in Nigeria may have suffered a major setback as the Management of the Nigeria Airspace Management Agency NAMA, is unable to clear the equipment meant for the project from the seaport. The N1billion equipment purchased …

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Dana Air Joins Call for Stem Cell Donors for Cancer Patient

Dana Air has joined the search and call for donors of stem cell for a patient diagnosed with cancer of the blood. Astrid, 41, a Nigerian- German mother, is in need of a stem cell transplant to survive a disease she was diagnosed with in September 2018, after visiting the …

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FirstBank Hits N1 Trillion in Transactions Processed Through Firstmonie Network

Nigeria’s premier financial services provider and Bank of first choice, First Bank of Nigeria Limited has announced that its Firstmonie network has processed a cumulative transaction value of N1 trillion from its relaunch in January 2018. The network also achieved nationwide coverage in record time, enabling access to financial services …

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FAAN Closes Gombe, Kebbi Airports

The Federal Airports Authority of Nigeria FAAN has wielded the big stick against debtor state governors tapping the services of the agency without payment Sequel to this, FAAN has closed down the Gombe and Kebbi airports with effect from today,  due to over N800 million debts owed it. The agency …

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Fresh Crisis Rocks Polaris Bank

There are indications that that the group managing director and chief executive officer of Polaris Bank Ltd, Adetokunbo Mukhail Abiru, is currently on the horns of a dilemma as he battles to save his head following series of petitions at the Presidency seeking his removal as the bank’s chief over …

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MAN weeps over price of gas, buys $7.45 instead of $2.5 per scm

The competitiveness of the Manufacturers Association of Nigeria (MAN) may remain questionable with its attendant risks, if it’s members continue to buy at $7.45 instead of $2.5 per scm. The President of MAN, Mr Mansur Ahmed draw attention to this on Tuesday, while calling on the Ministry of Petroleum Resources to address the challenges encountered …

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