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Senate Confirms Kingsley Obiora as CBN Deputy Governor

The Senate on Thursday confirmed the nomination of Dr Kingsley Isitua Obiora as the Deputy Governor of the Central Bank of Nigeria (CBN). This was sequel to the adoption of the report of the Senate Committee on Banking, Insurance and other Financial Institutions read at plenary by its Chairman, Senator …

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Customs Intercepts GUO Bus Loaded with Hemp on Abuja-Jos Road

The Zone ‘D’ Federal Operations of the Nigerian Customs Service (NCS) has intercepted a luxury bus carrying 140 kilograms of cannabis sativa worth N12 million along Abuja-Jos road. Peters Olugboyega, Comptroller in Charge of the zone disclosed this while handing over the vehicle and seized items to the National Drug …

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Nigeria Sells N229.6 Bln T-bills at Higher Yields to Lure Investors

Nigeria has sold a total of N229.63 billion worth of the short-dated Treasury bills at higher returns to try to lure foreign investors to participate at the debt auction after the regulatory bank hike the Cash Reserves Requirements (CRR) for banks to 27.5 percent from 22.5 percent. The one-year treasury …

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Union Bank Sells UK Subsidiary to Consolidate Local Market

Union Bank Nigeria Plc on Tuesday said it has entered a share sale and purchase agreement with a London based firm to divest its 100 equity stake in its United Kingdom (UK) subsidiary. The bank disclosed this in a regulatory filing with the Nigerian Stock Exchange (NSE) and noted that …

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FAAN Alerts Airline Operators on Bush Fire Around MMIA Airfield

The Federal Airports Authority of Nigeria has alerted airlines operators and other airport users that a bush fire incident has been reported around the RESA of 36L, Murtala Muhammed International Airport, Lagos. The alert came after the notice of huge smoke hovering around the Lagos gateway which sent different signals …

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Inflation Rises to 11.98% in December–NBS

The National Bureau of Statistics (NBS) says Consumer Price Index, (CPI) which measures inflation, increased by 11.98 per cent year-on-year in December 2019. The NBS made this known in its CPI and Inflation Report of December 2019 released on Friday. NBS said the CPI report for December recorded an inflation …

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NAMA Groans as Customs Denies Waiver on Navigational Aids

By Gboyega Adeoye Some revelation on how the Nigeria Customs Service (NCS) achieved its orchestrated N1.3trn revenue came to fore recently as the Nigerian Airspace Management Agency (NAMA) stated that it did not get the waiver it requested from the Nigeria Customs Service (NCS), to clear the CAT111 navigation aids …

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KPMG SME Report: FIRSTBANK Named Biggest Mover In 2019

Written by Collins Nweze Capital is crucial in driving sustainable Small and Medium Enterprises’(SMEs’) growth and uplifting the economy. First Bank of Nigeria Limited, as part of the launch of its specialised SMEs’ propositions, has continually supported SMEs through diverse initiatives. The bank says its support for SMEs is in …

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CBN Drops ATM Charges To N35, Take Effect By January 2020

The Central Bank of Nigeria (CBN) has reduced cash withdrawal charges from other banks’ Automated Teller Machines ATM from N65 to N35 after the third withdrawal within a month. The reviewed is scheduled to take effect from January 1, 2020.      

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BREAKING: Again MPC Retains Policy Rate At 13.5 Percent

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 13.5%. The Apex  bank Governor,  Mr Godwin Emefiele, disclosed this decision during a press conference in Abuja More to follow….

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