Business

NSBAG AND CORPORATE FAMERS

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 …Sets Up Working Group Investors in Nigeria can now heave a sigh of relief as the International Chamber of Commerce (ICC) has now taken a drastic step against piracy and counterfeiting in the country. The global body has commissioned a working group that would give the fight against the social vices an effective backing in Nigeria. The ICC delegation drawn …

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Crude oil prices fell yesterday with the global benchmark, Brent crude heading towards its lowest finish in about one month after a report revealed a surprise weekly climb in the United States’ domestic crude inventories. Prices had traded higher in early dealings, buoyed by reports Venezuela may not deliver some of its contracted crude oil exports on the heels of …

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The daily financial losses in Nigeria’s power sector since the beginning of this year have risen to N201.3bn, findings from the Office of the Vice President showed on Wednesday. Data from the Advisory Power Team in the Vice President’s office in Abuja showed that the N201.3bn loss accumulated between January 1 and June 5 this year. It was also gathered …

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In a bid to transform Nigeria into a tourist sector destination in Africa and position it as lever of Nigeria’s economic growth and development, Heritage Bank Plc has partnered federal government and the United Nations World Tourism Organisation (UNWTO). The bank partnered Nigerian government at the 61st meeting of the United Nations World Tourism Organization-Commission for Africa (UNWTO-CAF), in Abuja, …

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Lafarge Africa Plc has warned of the dangers for plastic pollution especially for aquatic life in the country. Mrs. Folashade Ambrose-Medebem who is Director of Communication Public Affairs and Sustainable Development at Lafarge gave the warning at an Awareness Session to mark this year’s World Environment Day. “As individuals, we can contribute our quota to beating the plastic pollution by …

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Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has said the sale of Keystone Bank to new investors at N41 billion helped to boost the corporation’s performance in the last financial year. He said AMCON had acquired 12,537 Non-Performing Loans (NPLs) worth N1.7 trillion from 22 financial institutions, following the 2009 banking crisis. “Gross earnings also …

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As a financial institution committed to wealth creation, Wema Bank plc, pioneer of Africa’s first fully digital bank ALAT, has sponsored a number of small and medium scale businesses to a capacity building training on creating sustainable wealth which was organized by PwC in Lagos. Wema Bank, keen to grow the capacity of small businesses and build lasting relationships that …

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National Agricultural Seeds Council (NASC) has disclosed that over 14.5 million farmers have, so far, benefited from quality seeds from 2012 till date, to boost agriculture. Director General of NASC, Dr Phillips Ojo, said the Federal Government will employ, at least, three persons from each local government area to supervise and checkmate quality control of seeds. Ojo, who made the …

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The Distillers and Blenders Association of Nigeria (DIBAN) has rejected the new ”astronomical increase” in excise duty on domestic wines and spirits. DIBAN Chairman, Chief Patrick Anegbe, told newsmen in Lagos, yesterday, that the hike is a threat to the industry’s N420 billion investment. Anegbe said that there was no prior engagement/consultation whatsoever with indigenous producers of wines and spirits …

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