Business

FG proposes 10 earth dams for each state To increase food production across the country, the Federal Government has concluded plans to install at least 10 earth dams in each state of the federation.  Under the arrangement,  dikes is also to be put in place  in the riverine areas  while rehabilitation of  existing non-functional ones are to get top priority.  In a message to mark …

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Senate Lauds NDIC For Regular Remittance To Consolidated Revenue Fund The Senate Committee on Banking, Insurance and Other Financial Institutions has commended the Nigeria Deposit Insurance Corporation (NDIC) for its prompt and regular remittance of its operating surplus into the Consolidated Revenue Fund (CRF) in line with the provision of the Fiscal Responsibility Act (FRA), 2007. The Committee Chairman, Sen. …

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Expert says Nigeria will get out of recession in 2018 A Lagos-based financial expert, Mr. Bismarck Rewane, on Friday expressed optimism that Nigeria would get out of recession by 2018 with the right economic policies. Rewane, also the Chief Executive Officer, Financial Derivatives Ltd., said this at the 2016 Independent Shareholders Association of Nigeria Triennial Delegates Conference/Gala Night in Lagos. …

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Wema Bank Donates N20m to Lagos govt As part of its social responsibility policy, Wema Bank has provided N221 million financial assistance to Lagos State Government to deliver world class archival service to transform record management in the state high courts. According to the bank’s Managing Director, Mr. Segun Oloketuyi, in a statement on Friday, said that N20m of the …

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CBN Approves Special Forex Intervention For Airlines The Central Bank of Nigeria has approved a Special Secondary Market Intervention Retail Sales for airlines operating in the country to enable them to access foreign exchange. NAN report’s that the Deputy Director, Press and Public Affairs, Ministry of Transportation, Mr. James Odaudu, announced the plan in a statement in Abuja on Friday. …

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‘FirstBank now sole Foreign Exchange Dealer to BDCs’ Following the complicity of some banks in handling foreign exchange transaction with Bureau de Change (BDC) in the domestic economy, the Central Bank of Nigeria (CBN) has announced FirstBank the sole authorized dealer for foreign exchange proceeds to licenced Bureau de Change operators. According to First Bank, the announcement is coming on the heels …

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Y Media managers of various coporate organisations at the formal launching/inauguration of Capital Market Correspondent Association of Nigeria (CAMCAN) website on Thursday in Lagos…Pix

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Adeosun Speaks at Workshop on Cost Management, Says Eliminating Waste is a National Duty   The Minister of Finance, Mrs. Kemi Adeosun on Thursday disclosed that the Federal Government would soon issue a new template on approved expenses for state-owned enterprises as efforts are being intensified to control the nation’s recurrent expenditure. The Minister gave the hint at a workshop …

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