Business

The group financial performance of the Nigerian National Petroleum Corporation recorded its third consecutive monthly loss in March as the oil firm reported a loss of N33.996bn in the first quarter of this year. According to the latest monthly financial and operations report for March 2017, the NNPC stated that crude oil production also decreased from 1.84 million barrels per …

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The second edition of a retail banking workshop organised by Ciuci Consulting will explore strategic tools employed to drive financial inclusion. According to a statement by the consulting firm, the workshop, themed, ‘Catalysing SME funding and retail lending to Nigeria’s economic development’, is in line with the CBN’s policies and processes designed to enhance financial inclusion. The programme is scheduled …

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Folake Sokoya & Utulu Andrew Chukwiudi Onuamadike a.k.a Evans was first declared wanted in August 2015 when he masterminded the attempted kidnap OF Chief Vincent Obianudo, the CEO of the Young Shall Grow Motors in Festac area of Lagos state. It was gathered that Evans was the only one that escaped while three of his gang members lost their lives …

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 Partners Oyo govt in N9bn rice production, to establish farm in Kogi Jonathan Eze in Lagos, Ademola Babalola in Ibadan and Yekini Jimoh in Lokoja Nigeria’s dream of becoming self-sufficient in sugar production is soon to be realised, with the signing of a Memorandum of Understanding (MoU), between Dangote Sugar Group, and the Nasarawa state Government, in an epoch making …

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  The DataCloud Europe conference which has attracted over 1800 Data Center and Cloud executives from more than 60 countries as well as over 90 exhibiting companies, is the foremost networking event for data center players in EMEA.   During the conference, Gbenga Adegbiji, General Manager of MainOne’s MDXi Data Centers, joined an expert panel on the Africa Data Centre …

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Ecobank Nigeria says the deepening of its digital banking solutions has enabled the bank take easy, fast and secure banking solutions to every household in the country. The bank’s digital platforms enables customers do instant payment; send and receive money securely and instantly; shop with mobile phone in store; instant account opening on mobile phones and instant payment across 33 …

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Transcorp Hotels Plc has announced the reopening of the Executive Floors and Lounge of its flagship Transcorp Hilton Abuja.  The reopening marks a milestone in the on-going $100 million renovation project of the historic and award winning 5-star hotel, leading up to its 30th anniversary commemoration this year. The redesign, conceptualized by Swedish interior designer, Living Designs, is inspired by the …

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In line with its business objective of enabling young Nigerians and students to derive maximum benefits from their limited finances, Bridge Concepts Limited has announced a partnership with the pan African Financial institution, United Bank for Africa (Plc) with the introduction of co-branded discount cards known as the Naija Green Card, the first of its kind discount payment solution.  The Naija Green Card powered …

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Dayo Emmanuel (With Agency reports) For the first time in six years, Egypt’s foreign-exchange reserves have overtaken Nigeria’s, Bloomberg.com has reported. The North African country, which floated the pound and secured international monetary funding in November, has seen overseas holdings of local-currency bonds soar to $7.5 billion from just $100 million earlier. In Nigeria, where the apex bank, the Central …

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The nation’s total indebtedness to foreign and local creditors now stands at N19.16tn, the Debt Management Office has said. This is N1.8tn increase from the N17.36tn recorded at the end of December 2016. As of March 31, 2015, the country’s total debt stood at N12.06tn. This means the debt level increased by N7.1tn in two years. Segmenting the national debt, …

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