News

The Federal Government on Wednesday said it had cleared the inherited arrears of accrued pension benefits for the years 2014, 2015 and 2016 by releasing N41.5bn and N12.5bn for January, February and March this year to the National Pension Commission for onward payment to retirees. The Minister of Finance, Mrs. Kemi Adeosun, confirmed the release of the money in a …

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The challenging economic situation in the country made the banking industry’s non-performing loans ratio to rise from N1.678bn in June to N2.084tn in December 2016, the latest Central Bank of Nigeria’s Financial System Stability Report revealed on Wednesday. The financial soundness indicators used to appraise the stability of the financial system included asset quality, capital and income-expense, the report stated. …

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President Muhammadu Buhari on Wednesday assured Nigerians that his administration would approach the nation’s economic challenges with the same commitment it had put into fighting corruption and terrorism. Buhari made the promise while launching the country’s Economic Recovery and Growth Plan 2017-2020 at the Presidential Villa, Abuja. While saying his administration inherited numerous challenges, the President recalled that his political …

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The recent increase in the bridging allowance to transporters from N6.20 to N7.20 per litre will not lead to a rise in the pump price of Premium Motor Spirit, popularly known as petrol, from the prevailing N145 per litre, the Nigerian National Petroleum Corporation has said. Making the clarification in Abuja on Wednesday, the corporation’s Chief Operating Officer, Downstream, Mr. …

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Dutch-British consumer products giant Unilever on Thursday announced the surprise sale of its underperforming margarine division, seeking to soothe investor jitters after spurning a takeover bid by US rival Kraft Heinz. The Rotterdam-based group said it is also planning to boost dividends in 2017 by 12 percent and will launch a shares buy-back of some five billion euros ($5.3 billion) …

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The Deputy Managing Director of Access Bank Plc, Mr. Obinna David  Nwosu has resigned  from the bank with effect from April 30, 2017. In a statement from the company secretary, Mr. Sunday Ekwochi sent to the Nigerian Stock Exchange, NSE,  yesterday,  Nwosu  resigned from the bank to pursue other personal endeavours. Ekwochi in the statement said that Nwosu has confirmed …

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  A college vice principal accused of having a carnal knowledge of his student has been denied bail by the court where he is standing trial. Vice Principal of Government Day Secondary School, Tunga, Mr. Mohammed had his bail application rejected on Wednesday and ordered to be remanded in prison custody. Mohammed according to news report was arraigned on a …

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The Managing Director, Ecobank Nigeria, Charles Kie, has lauded the Financial Literacy Day initiative saying it would go a long way to sensitizing and educating pupils and youths across the country early in life on financial matters. The Financial Literacy Day is being jointly organized by the Central Bank of Nigeria (CBN) and Junior Achievement Nigeria (JAN), in partnership with …

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President of the Para-soccer Federation of Nigeria (PFN), Misbahu Lawn Didi has said that Abuja would host the second edition of National Para-soccer League from April 6 to April 18. Didi made this known in a statement issued in Abuja on Tuesday and assured that the Federation introduced in 1988 in Nigeria and established in 1996 to promote the sport …

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From Left;  Senior Economic Officer, Embassy of Israel, Mrs Florence Osuji; Israeli Ambassador, Amb. Guy Feldman; Speaker, Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa; and MD, Emi Systems, Mr Eyal Mesika during Feldman’s visit to the Speaker in Lagos on Tuesday.

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