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Business

CBN Policy May Push Interest Rates Higher

August 22, 2016
The lending rates of banks in Nigeria may experience a further push up this week as the Central Bank of Nigeria (CBN) continues its contractionary monetary policy measures. Last week, the apex bank squeezed out about N441.2 billion from the financial system, thereby pushing rates up to 25.6 per cent for interbank overnight funds. The rate had opened last week
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NLC Rejects Okorocha’s Farming Policy For Workers

August 22, 2016
The three-day work and two-day farming for workers policy introduced by the Imo State Governor, Rochas Okorocha, has been kicked against by president of the Nigeria Labour Congress (NLC), Ayuba Wabba. Speaking with the News Agency of Nigeria (NAN) in Abuja on Sunday, Mr Wabba said the policy was against the International Labour Organisation Convention and also against the rules
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6 States In Financial Crisis Over N32b Deduction

August 22, 2016
By Dipo Olowookere The decision of the Federal Government to deduct the sum of N32 billion from the monthly allocations of some distressed states in the federation have thrown them into financial mess. A report by Economic Confidential, the economic intelligence magazine, disclosed that the money was deducted from the allocations of the affected states from the Federation Account in
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Labour Wants Review of Employment Policy

August 22, 2016
President of the Nigeria Labour Congress (NLC), Mr Ayuba Wabba, has called for a review of the employment policy to make it all inclusive, in view of the current unemployment rate in the country. According to Mr Wabba, the need to review the educational curriculum at the various levels and inject in it a technical component. Speaking on Sunday in
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Govt. To Train 500 Ex-Militants In Agriculture

August 22, 2016
Former Niger Delta militants will soon undergo training in agriculture so as to boost the country’s economy, the Federal Government has said. According to the Special Adviser to the President on Niger Delta, Mr Paul Boro, about 500 ex-militants will undergo the training in agriculture and aquaculture under the amnesty programme. Mr Boro made this known shortly after his visit
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Politics

Ikeja Electric Licence

Ikeja Electric Reduces Band A Tariff to N206.80/kwh

May 6, 2024
By Aduragbemi Omiyale One of the leading electricity distribution companies (DisCos) in Nigeria, Ikeja Electric Plc, has announced the downward review of energy tariff for its Band A customers. Energy consumers on the Band A feeders are guaranteed at least 20 hours of power supply per day and are charged higher than the other customers on Band B to E.
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Travel

Latest

TikTok

ByteDance Denies Plans to Sell TikTok as US Ban Looms

By Adedapo Adesanya TikTok’s Chinese parent company, ByteDance, said it has no plans to sell the social media platform after President Joe Biden signed a bill that could lead to a nationwide ban of the wildly popular app. This company made this
April 26, 2024
Nigeria Diaspora Fund

FG Unveils $10bn Nigeria Diaspora Fund to Attract Foreign Investments

By Adedapo Adesanya The federal government has announced the launch of a $10 billion Nigeria Diaspora Fund, a multi-sectoral investment opportunity to encourage remittances, attract foreign investments, and facilitate philanthropic endeavors aimed at supporting key sectors crucial for Nigeria’s economic growth. This
April 26, 2024
Alternative Bourse NASD Securities

NASD OTC Exchange Loses 0.10%, Index Now 1,101.31 Points

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.10 per cent depreciation on Thursday, April 25 after the Unlisted Security Index (NSI) dropped by 1.15 points to wrap the session at 1,101.31 points compared with 1,102.46 points recorded at
April 26, 2024
transcorp hotels financial results

Transcorp Hotels, Others Jumpstart Stock Market by 0.05%

By Dipo Olowookere The Nigerian Exchange (NGX) Limited returned to the green territory on Thursday after two trading days in the bears’ domain, though weak investor sentiment remained. It marginally closed higher by 0.05 per cent yesterday on the back of bargain-hunting
April 26, 2024
petrol scarcity

NNPC Blames Logistics Issues for Current Petrol Scarcity

By Aduragbemi Omiyale The Nigerian National Petroleum Company (NNPC) Limited has attrivbuted he current scarcity in premium motor spirit (PMS), otherwise known as petrol, in some parts of the country to “logistics issues.” In a statement signed by its Chief Corporate Communications
April 25, 2024
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