Business

The nation’s foreign exchange reserves have declined further, losing $99m to close at $47.65bn on Monday, latest data from the Central Bank of Nigeria showed on Wednesday. Industry analysts have attributed the recent decline in the external reserves to the exit of foreign portfolio investors. It will be recall that on May 17 that the external reserves slipped to $47.793bn on …

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Chairman of Wapic Insurance Plc, Mr Aigboje Aig- Imoukhuede on Wednesday May 30, 2018 said the delay in declaring dividends to shareholders was due to signals they are getting from Nigeria and Ghana on capital raising, making it impossible for them to pay dividends. He disclosed this to shareholders at the company’s 59th Annual General Meeting (AGM) in Lagos. According to …

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The Lagos State Government says plans have been put in place to stop the issuance of roadworthiness certificate without examination of the vehicle. Governor Akinwunmi Ambode made this known at the inauguration of eight computerised vehicle inspection centres spread across the state recently. The eight centres inaugurated are located in Oko-Oba, Ayobo – Iyana-Ipaja, Oko-Afo, Badagry, PWD, Gbagada, Agric-Isawo and …

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Oil prices steadied on Wednesday after slipping prices as Saudi Arabia and Russia say they will pump more crude oil in response to falling global crude inventories and rising consumer prices. Saudi Arabia and Russia have discussed raising OPEC and non-OPEC oil production by one million barrels per day (bpd) to counter potential supply shortfalls from Venezuela and Iran. Brent …

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ADDRESS BY MUHAMMADU BUHARI, PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA IN COMMEMORATION OF THE 2018 DEMOCRACY DAY CELEBRATION, TUESDAY, 29TH MAY, 2018 My Dear Nigerians! Today marks the 19th year of our nascent democracy and the 3rd Anniversary of this administration. I am thankful to Almighty God for bringing us thus far. This administration came at a time that …

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The Central Securities Clearing System (CSCS) on Monday May 28, 2018 paid a cumulative dividend of N3.5 billion to its shareholders, this translating to 70 kobo per share. The dividend pay-out is expected to be paid to shareholders whose names appeared on the register of members on as at May 15, 2018. Meanwhile, shareholders yesterday raised concern over the contributions …

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Tayo Olanipekun Nigeria’s Finance Minister, Kemi Adeosun, said measures introduced by the government have in the last three years helped the nation in recovering billions of naira in looted public funds, tax recovery and also in reducing the cost of running public offices. A total of N283, 071,347,302 has been recovered as well as saved as a result of the …

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The President of the Senate, Bukola Saraki, on Monday, warned that the conduct of the forthcoming 2019 general elections must not be less credible than the one conducted in 2015. Saraki said this in a goodwill message he delivered at the 2018 Democracy Day Lecture held in Abuja. He warned Nigerians against taking the nation’s democracy for granted. The Speaker …

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Keystone Bank says it has recorded a profit before tax of N3.72 billion in the first quarter of 2018. This represents an increase when compared with a loss of N2.79bn over the same period in 2017. The bank’s deposit grew 42% or N84bn to N283bn at the end of the quarter March 2018. The breakthrough was recorded after many years …

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Leading commercial bank, Sterling Bank Plc has partnered with Tata Africa Services Limited to unveil a revolutionary auto loan scheme which offers free spare parts and attractive discounts to business owners in Lagos at the weekend. The novel financing scheme, which has a maximum tenure of three years, will sort out the logistic challenges facing business owners as they strive …

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