CBN Lists Sanctions Against Banks Over Power Intervention Fund As Nigerians continued to grapple with incessant power-outage, the Central Bank of Nigeria (CBN) has spelt out sanctions to Deposit Money Banks participating in the disbursement of the N213bn Nigeria Electricity Market Stabilisation Facility, otherwise called power sector intervention fund. The sanctions were contained in a five-page circular posted on the …

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  The Edo State governorship election has been postponed this evening. Nigeria’s electoral body, the Independent National Electoral Commission (INEC) after a prolonged meeting decided to postpone the election by two weeks. An earlier security report had suggested the postponement which later came after a security meeting held in Benin, the state capital. INEC officials are to address the press …

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80% Nigerian women, girls in Italy sex trafficking victims — VATICAN A total of 80 percent of Nigerian women and girls, who arrive Italy, are sex trafficking victims, Vatican news agency, Agenzia Fides has said. “Hundreds of thousands of people fall victim to human trafficking every year in Africa alone,” said Monsignor Ignatius Ayau Kaigama at an international conference against …

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Telecom Sector Investment Hits $68b, Makes Biggest Contribution To GDP In 6 Years The Nigerian Communications Commission (NCC) has revealed that investment in the telecommunication sector has increased to $68.2 billion from $50million in 2001 and has recorded its biggest contribution of 9.8 percent to the nation’s Gross Domestic Product in six years This was revealed according to remarks by …

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Conoil Profit Rises by 176%, proposes 200% dividend increase payout Conoil has announced a 176 per cent increase over its last financial year profit despite the turbulence that rocked the nation’s economy and indeed, the downstream sector of the petroleum industry in 2015. Following this impressive performance, the oil marketing giant has proposed a 200 per cent increase in dividend …

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Fidelity Bank MD Advises Investors to Take Advantage of Stock Prices The Managing Director of Fidelity Bank, Mr. Nnamdi Okonkwo, has urged investors to take advantage of the current low prices of stocks, saying that it is the better to invest when prices are low. Despite the strong fundamentals of the listed companies, their shares are highly discounted due to …

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PFN Blames Buhari’s Silence for Herdsmen Attacks Worried by the incessant attacks by some herdsmen on innocent Nigerians in all parts of the country, the Pentecostal Fellowship of Nigeria (PFN) says the silence of President Muhammadu Buhari has fuelled the rampaging activities of Fulani herdsmen across the country. According to an agency report, the PFN in a statement, by its …

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Access Bank, Rand Merchant Bank, Dangote Foundation sponsors NSE 2016 Essay Competition FRIDAY EKEOBA Access Bank, Rand Merchant Bank, and Dangote Foundation will sponsor the top three winners of The Nigerian Stock Exchange (NSE) yearly essay competition with equity investments, University scholarship funds and personal Laptops/tablets at the Awards ceremony in November 2016, the NSE has said This year’s competition …

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CBN hosts FICAN Bi-Monthly Forum on e-payment The Central Bank of Nigeria (CBN) will be hosting the September Edition of the Finance Correspondents Association of Nigeria (FICAN) Bi-Monthly Forum in Lagos. The event, with theme: ‘Development in the Electronic Payment Industry in 2016’ will hold on Saturday, September 10 at the FICAN Centre, Onipanu Lagos. The Guest Speaker, Mr. ‘Dipo …

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  Nigeria to Issue Visa to Foreign Investors on Arrival in the Country Barring any last minute change in decision, the Federal Government may have concluded plans to issue visa on arrival to foreign investors and other businessmen from outside the country. Vice President Yemi Osinbajo who made this disclosure yesterday, noted that the government was seriously considering the option …

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