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Nigerian Breweries declares N33.04bn profit

The Board of Directors of Nigerian Breweries Plc (NB) has announced the company results for the 2017 financial year , proposing a total dividend of N33 billion to its shareholders. The company while filling the report at the Nigerian Stock Exchange said that the amount proposed translated into a dividend of N4.13 kobo for every […]

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NNPC denies responsibility for fuel queues in Lagos, Abuja

The management of the Nigerian National Petroleum Corporation (NNPC), has denied being responsible for the extraneous situation which has led to the emergence of fuel queues in some cities across the country. According to a statement on its website, the oil sector regulator insisted that the “long queues have nothing to do with the unavailability […]

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NAICOM to shut doors against CEOs reps at Insurers’ Committee meetings

The Commissioner for Insurance (CFI), Alhaji Mohammed Kari, has warned that the Commission would no longer admit representatives at meetings meant for Chief Executive Officers of insurance companies. Kari made this known at the First 2018 Annual Insurers’ Committee’s Retreat held in Abeokuta on Saturday. “The idea of the Insurers’ Committee was borrowed from the […]

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NLNG shareholders set to take FID on train 7 plus project

Nigeria Liquefied Natural Gas (NLNG) Limited has announced its progress towards achieving Final Investment Decision (FID) on its Train 7 Plus (7+) project in 2018. In an oil and gas document obtained by the Blueprint Newspaper, the General Manager, External Relations, Kudo Eresia- Eke, who made the announcement recently at the World LNG summit in […]

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Nigeria, global agencies to fight illicit financial flows in Africa

Abuja With current estimated loss by Africa through illicit financial flows put at over $80 billion annually, Nigeria has agreed to collaborate with some global anti-graft groups to combat the menace in Africa. Minister of Finance, Kemi, Adeosun, who said Nigeria accounted for a significant percentage of the loss, identified some groups the country agreed […]

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SEC targets increased financial inclusion by 2020

Abuja The Securities and Exchange Commission (SEC) has said that it aims to achieve increased level of financial inclusion of Nigerians by the year 2020. Acting Director General of the SEC, Dr. Abdul Zubair stated this during a financial inclusion sensitization campaign held in Karshi, Abuja at the weekend. Represented by Director Market Development Department […]

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Naira remains steady against Dollar amid CBN intervention

The nation’s currency maintained stability week on week against the Dollar in most segment of foreign exchange market following the injection of $210 million by the Central Bank of Nigeria into the market. The CBN allocated $ 100 million to wholesale (SMIS) while $55 million each sold to Small and Medium scale Enterprises and Invisible. […]

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LEAP Africa appoints new board of directors

LEAP Africa has the appointed Mr. Udeme Ufot, the Co-founder and Group Managing Director, SO&U as its Board Chairman. Before his appointment as the Board Chair, Udeme Ufot had served as a non-executive director on the board since 2012. He succeeds Dr. Nadu Denloye, Director at CDNet Ltd/Gte, Former Director, TELNET who served as its […]

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NEXIM Bank seeks support of local businesses

  The Managing Director and Chief Executive Officer of the Nigeria Export Import (NEXIM) Bank, Abba Bello has urged the private sector to join hands in promoting indigenous manufacturers and businesses. He also called for commitment to Nigeria’s future in order “to keep on investing and pushing the frontiers of local businesses in the country.” […]

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FCMB commits to growth of media industry

  First City Monument Bank (FCMB) has reaffirmed its commitment to support the Nigerian media industry by empowering its practitioners with the requisite knowledge that promotes the values of professionalism and ethics in the discharge of their duties. This, according to the Bank, is as a result of the critical role the media plays in […]

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WB approves $486m to address Nigeria’s electricity challenges 

    The World Bank has approved a facility loan of $486 million for rehabilitation and upgrading of electricity transmission substations and lines. The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and enable distribution companies supply consumers with additional power. Together with other investments and […]

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Dangote applauds NBA on IDPs’ legal rights, protection

  President, Dangote Foundation, Aliko Dangote, has lauded the initiative of the Nigerian Bar Association (NBA) to train lawyers to improve legal rights and protection of Internally Displaced Persons (IDPs) in North-east, Nigeria. The four-Day training workshop, in conjunction with a bar organisation dedicated to International Human Rights-the Bar Human Rights Committee of England and […]

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Maritime: Blue economy impossible without benefits for media – Eniola

The Managing Director of Thisday newspaper, Mr Eniola Bello has declared that the dream of accomplishing a blue economy in the Nigeria maritime sector would remain a mirage without spelt out benefits for the media sector. The media chief made the submission at a one day seminar for maritime media stakeholders organized by the Nigerian […]

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Customs rakes in N285m from e-auction

Abuja The Nigeria Customs Service (NCS) has so far generated more than N285 million through its ongoing 20th e-auction. Already, 706 winners have emerged from the e-auction. The Customs Public Relations Officer. Mr. Joseph Attah, who disclosed this in Abuja, explained that out of 5,454 persons that registered for the exercise, more than 4,865 placed […]

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Foreign reserves now $42.8bn – CBN

The Acting Director Corporate Communications of the Central Bank of Nigeria (CBN), Mr. Isaac Okorafor has attributed the steady growth of Nigeria’s foreign reserves to the import substitution policy of the Bank. As at Tuesday, Nigeria’s foreign reserve stood at $42.8 billion. Mr. Okoroafor, who said this at a meeting with Rice Farmers Association of […]

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NPA flags off solid minerals export

The Managing Director of the Nigerian Ports Authority Hadiza Bala Usman has flagged off the first export consignment of manganese, a solid mineral resource from the Ikorodu lighter Terminal even as management is keen on provisional intermodalism as part of efforts to further decongest the Apapa Port axis. According to Abduallahi .A. Goje, General Manager, […]