Business

Nigeria’s foreign exchange reserves have added $1 billion from the $46.2 billion recorded in March, according to figures made available by the Central Bank of Nigeria (CBN). Speaking at the opening ceremony of the 25th seminar for business editors and financial correspondents in Uyo on Monday, Edward Adamu, newly appointed deputy governor, corporate services, said the apex bank hopes to meet the $50 …

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The Nigerian National Petroleum Corporation NNPC said arrangements were being concluded for the historic groundbreaking of the 40inch x 614km Ajaokuta – Kaduna – Kano, (AKK), gas pipeline and stations in the weeks ahead. The corporation said following last week’s successful execution of contract agreements for the engineering, procurement, construction, commissioning and financing for Lots 1&3 of the over $2.8billion …

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Diamond Bank continues to showcase its focus on its customers as it rewards a total of 1,016 customers with over N59 million naira in cash and car prizes in the DiamondXtra season 10 first quarterly draw held in one her branches in Alagutan, Iyana-Ipaja, Lagos. Speaking at the event, Karimot Tukur, Head, Consumer Banking Diamond Bank Plc said that DiamondXtra …

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Heritage Bank Plc, Nigeria’s Most Innovative Banking Service provider, has restated its commitment to sustainable growth and profitability despite the prevailing adverse macro-economic environment. The bank said in statement issued over the weekend by Mr. Fela Ibidapo, Divisional Head, Corporate Communications of the bank that, “Its ambition to emerge as a systemic important bank in the Nigerian banking industry remains …

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  Charles Idonije is the founder of Africa’s Largest Agricultural Social Network and a WebTV that promotes Africa’s natural resources and businesses,RICHAFRICA TV. In this interview with DAYO EMMANUEL, Idonije reveals his next project, a reality show captioned STREETSCEOs, designed as a 24-hour tech reality TV series for startups and entrepreneurs in the IT industry to network and benefit from …

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Wema Bank Plc has defaulted in failing its 2017 audited financial statement for the year ended 31st December 2017, to the Nigerian Stock Exchange (NSE), citing no-obtaination of necessary approvals as reason for the delay. In a statement of notice published on the NSE’s website, signed by the bank’s Chief Financial Officer CFO), Tunde Mabawonku, it explained that the failure …

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Vice President Professor Yemi Osinbajo on Thursday was at the Economic Recovery and Growth Plan Mid-Lab Syndication meeting in Abuja where he expressed satisfaction with the organization of the labs and the commitment of all participants towards achieving the overall goal of the exercise. During the launch of the Labs on March 13, 2018 by President Muhammadu Buhari, it was …

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Data gathered by the News Agency of Nigeria showed that the stock which opened for the year at 55k closed for the quarter at N1.22 per share, indicating an increase of 121.82 per cent to emerge the best performing stock. The Shares of Unity Bank Plc posted a percentage growth of 121.82 per cent on the Nigerian Stock Exchange to emerge …

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Oando Plc Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, officially commissioned its new office building, the ‘Wings Office Complex’ yesterday, 3 April 2018. The building located at 17a Ozumba Mbadiwe Avenue, Victoria Island, Lagos was commissioned by the Minister of State for Petroleum Resources, Hon. Dr. Emmanuel Ibe Kachikwu. Commenting on the commissioning …

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The planned closure of the Marine Bridge and Wharf Road in Apapa, Lagos, concurrently from next week will spell doom for the country’s seaports. Dangote A.S. recently announced plans to close both sides of the Wharf Road inward and outward Apapa while the Federal Ministry of Power, Works and Housing also announced plans to shut the Marine Bridge in Apapa …

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