Innovation: Path to wealth

June 5, 2018 Binta Shama 0

My dream to create anything is not for myself alone, but to impact others. Nigerian youth need to rise up to the reality and take their destiny in their own hands. As an industrial designer and one with the knowledge of mechanical engineering, one of my visions is to transfer that knowledge to the interested young ones, BINTA SHAMA reports. Read More

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Nigeria’s textile sector, so far how far?

June 5, 2018 BluePrint Newspapers 0

President Muhammadu Buhari’s first step towards the realization of his administration’s mission to resuscitate the textile industrial sector was the inauguration of a Presidential Committee on Cotton, Textile and Garment (CTG). Speaking with journalists in Abuja recently, the Chairperson of the committee and Minister of State for Industry, Trade and Investment, Hajia Aisha Abubakar, harps on the problems, the achievements Read More

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Equity market gains N48bn

June 5, 2018 Amaka Ifeakandu .Lagos 0

Trading activities on the floor of the Nigerian Stock Exchange (NSE) yesterday opened week in positive trend, gaining N48 billion. Specifically, Market Capitalisation of listed equities increased by 0.36 per cent to N13.383 trillion from N13.335 trillion reported on Friday. Also the NSE All Share Index appreciated by 130.81 basis points to 36947.10 points from 36816.29 traded the previous day. Read More

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Digital transformation to create value for shareholders – WAPIC

June 5, 2018 David Agba .Abuja 0

Wapic Insurance has concluded most of its digital transformation initiatives aimed at creating value and deepening insurance penetration. The company sees its digital transformation as the next game-changer that will sustain its quest to create value for shareholders and deliver excellent services and enjoyable experience to customers. Under the strategic digital revolution, Wapic Insurance acquired a new core operating system Read More

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Ingenico Group deploys fraud-less payment package in Zambian

June 5, 2018 David Agba .Abuja 0

Ingenico Group, the world leader in seamless payment, supported the roll-out of a secure biometric solution in Zambia in partnership with Paycode. This program allowed the distribution of 22 million dollars subsidies in rural Zambia within 3 months. Since November 2017, the programme has allowed registered farmers to access a government-funded programme, the FISP subsidy, in which farmers make a Read More

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FG to double income from cashew to N1.7bn – Ogbeh

June 4, 2018 BluePrint Newspapers 0

The Minister of Agriculture and Rural Development, Chef Audu Ogbeh has stated that the federal government is set to bring in cashew processing machines that will boost production and increase earnings from cashew to $1.7 billion from $800 million per annum. Ogbeh stated this while speaking on the achievements of the Agriculture sector under the President Buhari led Administration in Read More

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5000 debtors gone into hiding – AMCON

June 4, 2018 Amaka Ifeakandu .Lagos 0

The Managing Director Assets Management Company of Nigeria (AMCON), Ahmed Kuru has said that more than 5000 debtors have gone into hiding. Kuru who disclosed this in Lagos over the weekend at press briefing said that most of debtors have relocated making it difficult for the agency to trace them. He, however, said that “by next week or next month Read More

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SEC seeks fiscal incentives for listed firms

June 4, 2018 Benjamin Umuteme .Abuja 0

The Securities and Exchange Commission (SEC) has advocated some measure of fiscal incentives for listed companies on the Nigeria Stock Exchange (NSE) in order to mitigate their cost burden and encourage more entities to list shares on the bourse. Apart from reduction of costs, the measure, according to the SEC, will translate to huge investment benefits to shareholders and also Read More

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Money market rates trend downward as system liquidity expands

June 4, 2018 BluePrint Newspapers 0

Money market rates, Open Buy Back (OBB) and Overnight (OVN), trended lower Week on Week (W-o-W) on the back of changes in system liquidity following Open Market Operation (OMO) repayments/ sales and primary market auctions. Despite a reduction in system liquidity which fell by N55.7 billion to N331.3 billion from N387.0 billion in the previous session following an Open Market Read More

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CBN extends USSD framework Implementation to October

June 4, 2018 Amaka Ifeakandu .Lagos 0

The Central Bank of Nigeria (CBN) has extended the date for the implementation of the regulatory framework for the use of Unstructured Supplementary Service Data (USSD) in the Nigerian financial system to October 1, 2018. The apex bank’s circular obtained from its website, signed by the Director, Banking and Payment Systems Department, Dipo Fatokun, said the extension of the implementation Read More

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Conoil pays N1.4bn as dividend in 2017

June 4, 2018 BluePrint Newspapers 0

Conoil Plc, has proposed N1.4 billion as dividend payout to its shareholders for 2017 financial year in the face of daunting economic challenges in the country. The amount translates into N2.00 per every 50 kobo ordinary share held by investors. The proposed payment is in line with the Company’s consistent dividend policy, over the years, to its shareholders. The dividend Read More

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NSE: Equity market sustains negative trend, sheds N909bn

June 4, 2018 Amaka Ifeakandu .Lagos 0

Transactions on the floor of Nigerian Stock Exchange (NSE) last week sustained declining profi le, shedding N909 billion. Specifi cally, Market Capitalisation of listed equities depreciated by 6.38 per cent to N13.335 trillion from N14.244 trillion reported in the preceding week. The NSE weekly report showed that All Share Index declined by 2507.33 basis points to 36816.29 points from 39323.62 Read More

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CBN releases $331m into FX market

June 4, 2018 BluePrint Newspapers 0

The Central Bank of Nigeria (CBN) on Friday sold a total of $331.41million to players in different sectors in the Retail Secondary Market Intervention Sales (SMIS). Friday’s sale of foreign exchange by the CBN came closely on the heels of its intervention in the wholesale segment of the market on Wednesday, May 30, 2018, when it pumped the sum of Read More

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NUPENG gives 21- day ultimatum to multinationals over unfair labour practices

June 4, 2018 BluePrint Newspapers 0

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) on Sunday gave a 21-day ultimatum to employers in the Nigerian oil and gas to address workers welfare to ameliorate their suff erings. He said the ultimatum would take effect from Monday urging the affected organisations to resolve contending issues to avoid further action. NUPENG President Prince Williams Akporeha, said Read More

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NNPC distances self from N36bn royalty to Community

June 4, 2018 Benjamin Umuteme 0

The Management of the Nigerian National Petroleum Corporation (NNPC) has dismissed insinuation of an approved N36 billion compensation said to be due to Alesa-Eleme community in Rivers State as royalty for playing host to the Port Harcourt Refi ning Company, a subsidiary of the corporation. A release by the corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, Read More

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CBN empowers 1,000 Niger youths with N1.5bn agric fund

June 4, 2018 Aideloje Ojo Minna 0

One thousand Niger youths have been selected to benefit from the N1.5 billion Accelerated Agriculture Development Scheme fund set aside for the state by the Central Bank of Nigeria (CBN). The state Commissioner of Agriculture and Rural Development, Alhaji Nuhu Dukku, disclosed this at a press conference in Minna at the weekend. He said that the state government has cleared Read More

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Crimes: Niger to partner ACOMORAN on intelligence

June 4, 2018 Agi Onda. Abuja 0

The Niger state government is to partner with the Amalgamated Commercial Motorcycle Riders Association of Nigeria (ACOMORAN)in the area of intelligence gathering with the view to checking intra-city crimes. The state Governor, Alhaji Abubakar Sani-Bello in a statement by his Chief Press Secretary, Jibrin Baba Ndace yesterday said this has become necessary in order to ensure security, orderliness and safety Read More

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5000 debtors gone into hiding – AMCON

June 4, 2018 Amaka Ifeakandu .Lagos 0

The Managing Director Assets Management Company of Nigeria (AMCON), Ahmed Kuru has said that more than 5000 debtors have gone into hiding. Kuru who disclosed this in Lagos over the weekend at press briefing said that most of debtors have relocated making it difficult for the agency to trace them. He, however, said that “by next week or next month Read More

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SEC seeks fiscal incentives for listed fi rms

June 4, 2018 Benjamin Umuteme .Abuja 0

The Securities and Exchange Commission (SEC) has advocated some measure of fiscal incentives for listed companies on the Nigeria Stock Exchange (NSE) in order to mitigate their cost burden and encourage more entities to list shares on the bourse. Apart from reduction of costs, the measure, according to the SEC, will translate to huge investment benefits to shareholders and also Read More

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TCN raises doubt about actual output of Gencos

June 1, 2018 BluePrint Newspapers 0

The Transmission Company of Nigeria (TCN), has accused most power generation companies (Gencos), of not being truthful about the integrity of their plants and are making fraudulent financial claims on capacity charges. The TCN stated this in response to Gencos’ allegation that the TCN through its management of the grid code, stifle their efforts to load more power to the Read More

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MTN launches IPO on Ghana Stock Exchange

June 1, 2018 BluePrint Newspapers 0

Telecommunication company, MTN, has launched its Initial Public Offer (IPO) on the Ghana Stock Exchange to acquire a 4G spectrum. The exercise is to allow the public to own a part of MTN. Following the completion of the process, the public will have the opportunity to own 35 percent of MTN. The move is part of the requirement by the Read More

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Comptroller dismisses benchmark claims on general cargo clearance

June 1, 2018 BluePrint Newspapers 0

The Customs Area Comptroller (CAC) of the Tincan Island Port Command, Comptroller Musa Baba Abdullahi has said that contrary to the generally held opinion, no benchmark has been set for clearing general cargo at the Tin Can Island Port. Musa who made this disclosure when the Association of Nigerian Licensed Customs Agents (ANLCA) led by the Acting National President, Dr. Read More

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Row over NHIS N30bn investment bonds

June 1, 2018 Tope Sunday Abuja 0

Executive Secretary of the National Health Insurance Scheme, Prof. Usman Yusuf and the NHIS Governing Council, may have been in a fresh row over a N30billion federal government bonds. Before now, the agency had also approved a proposal to invest N25billion of its residual funds in “treasury bills and spread across maturities,” with Cowry Asset Management Limited as its managers. Read More

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