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Business

CBN Orders Banks To Accept Cheques In Savings Account

August 3, 2016
Banks operating in Nigeria have been directed by the Central Bank of Nigeria, CBN, to now accept cheque deposits into savings account. This directive was contained in a circular dated July 28, 2016, signed by CBN’s Director, Banking & Payments System Department, Dipo Fatokun, and sent to all banks and financial institutions operating in the country. In the circular made
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Excitement As FG Okays Badagry Seaport

August 4, 2016
There is excitement in the air following the approval for the establishment of a seaport in Badagry, Lagos. At the moment, the Nigerian Ports Authority (NPA), which controls seaports in Nigeria, is in charge of the two ports in Lagos; the Lagos Port Complex and the Tin Can Island Port. On Wednesday, after the Federal Executive Council (FEC), Minister of
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CBN Orders Banks To Sell Dollar To Hajj Pilgrims At N197

August 5, 2016
Banks and Forex dealers in Nigeria have been instructed to sell the US Dollar to intending pilgrims at the rate of N197 to $1. The Central Bank of Nigeria, CBN, gave this directive on Thursday. The country’s apex financial institution said those travelling for the 2016 Hajj in Saudi Arabia later this month and want the Pilgrims Travelling Allowance, PTA,
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Commercial Activities Shutdown In Sagamu

August 5, 2016
Report reaching BusinessPost from Ogun State reveals that business activities would be put on hold for a while because of the burial rites of late Akarigbo of Remoland, Oba Michael Adeniyi Sonariwo, who passed away last month. BusinessPost learnt that on Saturday, August 6, 2016, all shops and commercial centres in Sagamu would be shut to honour the late monarch.
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FG Moves To Cut Power Consumption

August 6, 2016
  The Nigerian government says it has taken steps to reduce power consumed by households, businesses and government agencies in the country by 85 per cent. This was disclosed on Friday in Lagos by the Minister of Science and Technology, Dr Ogbonnaya Onu, while addressing newsmen. The Minister said the idea was due to the need to diversify the Nigerian
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Politics

Defence Headquarters Nigeria

Oil Production: Minister Tasks Defence Headquarters on Improved Security

April 23, 2024
By Adedapo Adesanya The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has tasked the Defence Headquarters to reduce economic sabotage by protecting oil and gas facilities, to ramp up Nigeria’s oil production. Nigeria’s oil production dropped to around 1.2 million barrels per day in March 2024, a further decline from the 1.78 million barrels per day target
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Travel

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CAAF24 Deal Room

Applications for CAAF24 Deal Room Commence

By Aduragbemi Omiyale An opportunity to allow innovators, particularly venture capitalists, impact investors, climate tech startups, Green SMEs (small and medium-sized enterprises), philanthropic organisations, and government representatives, to receive funding support for Africa’s green economy solutions ranging from $200,000 to $1 million
April 23, 2024
DisCos revenue

FG Orders Sale of Four DisCos, Begins Unbundling of Others

By Adedapo Adesanya The federal government has ordered the sale of four of the 11 licenced electricity distribution companies (DisCos) in the country under the management of commercial banks and the Asset Management Corporation of Nigeria (AMCON), as it begins the process
April 23, 2024
Dana Air Aircraft

JUST IN: Dana Air Aircraft Crash-Lands in Lagos

By Modupe Gbadeyanka A slight air mishap involving an aircraft operated by Dana Air has occurred at the Murtala Muhammed International Airport (MMIA) in Lagos. Reports suggest that the plane belonging to the commercial airline operator crash-landed on Tuesday morning, though it
April 23, 2024
Nigeria's unlisted securities market

Nigeria’s Unlisted Securities Market Gains 2.8%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange opened the week on a positive note as it rose on Monday by 2.8 per cent, spurred by a gain in the share price of Aradel Holdings Plc. Aradel Holdings Plc appreciated by
April 23, 2024
Japaul

Japaul, GTCO, 14 Others Jumpstart Stock Market by 0.13%

By Dipo Olowookere The domestic stock market rebounded by 0.13 per cent on Monday after going down for 11 straight sessions as a result of sustained profit-taking by investors. The Nigerian Exchange (NGX) Limited was jumpstarted yesterday by Japaul, GTCO, FTN Cocoa
April 23, 2024
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CAAF24 Deal Room

Applications for CAAF24 Deal Room Commence

April 23, 2024
By Aduragbemi Omiyale An opportunity to allow innovators, particularly venture capitalists, impact investors, climate tech startups, Green SMEs (small and medium-sized enterprises), philanthropic organisations,