Business

Dangote Group has emerged winner of the 2018 prestigious Nigerian Risk Award (NRA) which recognizes organizations who have made measurable impact within their sector through the effective application of good governance, risk management and internal control systems and strategies. The award was conferred on Dangote at the Fourth NRA summit attended by top executives of both public and private sector …

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Applications Open for the 2018 TEF Entrepreneurship Forum Travel Fellowship for African Journalists. The Tony Elumelu Foundation, Africa’s leading entrepreneurship-focused philanthropy, has announced a call for entries for the 2018 TEF Entrepreneurship Forum Travel Fellowship for African journalists. The Travel Fellowship will provide financial aid to journalists and photojournalists affiliated with African national or global media houses to attend the …

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The newly launched All Purpose Flour by the Dangote Flour Mills has tremendously excited distributors and bakers, as they call it “finest and best performing flour.”  Bakers expressed their excitement on the affordability and multipurpose brand during the launch on Thursday in Kano. The affordable price, they say, will enable them to make more profit in their businesses. About 80 …

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For decades, support to startups and small businesses grouped under the acronym MSMEs in Nigeria has been less than required, owing to a lack of proper bankable business structure, deficient collateral requirement, and low margins needed to attract funding from commercial banks. Wema Bank, however, seems intent on shaping a new reality for small businesses in Nigeria. Wema Bank, the …

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Stanbic IBTC Holdings Plc, on Thursday September 6, 2018, in a notice to the Nigerian Stock Exchange (NSE) said the Central Bank of Nigeria (CBN) has deducted N1.886 billion from the accounts of its banking subsidiary Stanbic IBTC Bank Plc. The bank said in a statement that “following our earlier announcement to The Nigerian Stock Exchange (“NSE”) on 30 August …

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As part of its efforts in developing SMEs and engendering ease of doing business, the Bank of Industry (BoI) has said that easy loans are now accessible for Small and Medium Scale Enterprises in the country. The Managing Director and Chief Executive Officer of the BoI, Kayode Pitan, made this disclosure in Lagos, recently (actually today), during a workshop/seminar organised by …

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The Independent National Electoral Commission (INEC) in Lagos State on Thursday said some 1.38 million Permanent Voter’s Cards (PVCs) were still uncollected in the state. Mr Sam Olumekun, the Resident Electoral Commissioner (REC), Lagos State, gave the figure in an interview with the News Agency of Nigeria (NAN) in Lagos. “We still have about 1.38 million PVCs uncollected as we …

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In further demonstration of its avowed commitment to promote road safety and sustainable transport systems in the country, Guinness Nigeria Plc, a subsidiary of Diageo Plc, has partnered with the Federal Road Safety Corps (FRSC) to drive advocacy for a heightened safety culture on the roads during the Benin leg of the Guinness Nigeria 2018 Transport and Safety Week. With …

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Citibank Nigeria Limited Statement on the investigation by the Central Bank of Nigeria into the remittance of forex on the basis of irregular CCI’s done on behalf of MTN Nigeria Citibank Nigeria Limited (Citi) recently received a letter from the Central Bank of Nigeria (CBN) imposing sanctions on Citi for alleged breaches of foreign exchange regulations in respect of foreign …

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Nigeria would be hosting the 2018 Mid-Year Statutory Meetings of West African Monetary Agency (WAMA), West African Monetary Zone (WAMZ) and West African Institute of Financial and Economic Management (WAIFEM) from September 6 -14, 2018 in Abuja, Nigeria. The meeting will be preceded by the 33rd Joint Ordinary Meeting of the Economic and Monetary Affairs Committee and the Operations and Administration …

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