Manufacturers to get 60% forex Perturbed by the continued dwindling fortune in the domestic economy, the  Central Bank of Nigeria (CBN) has directed  Authorised Dealers (banks) to allocate 60 per cent of their  Foreign Exchange, (forex) purchases from all sources (interbank inclusive) to  manufacturers and 40 per cent to other users for the purpose of trade and other obligations. In …

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Lagos, home to about 300,000 hawkers-Activist Dayo Emmanuel   “Politics is not about party affiliations, but about development.” These was an assertion of Comrade Biodun Aremu at the public presentation of Community Development Charter for Surulere Local Government Area of Lagos State, facilitated by media NGO, International Press Centre (IPC), recently. Aremu had asserted that there are about 300,000 youths …

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  Union Bank of Nigeria Plc has recorded profit after tax of N8.7 billion for the first six months of this year, compared with N6.3 billion within same period in 2015. An x-ray of the bank’s financial statement, showed that, total assets also increased from N1.046 trillion of full year 2015 results to N1.152 trillion as at the end of …

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Customs revenue generation drops by N53bn in six months FRIDAY EKEOBA The Nigeria Customs Service (NCS) has generated a total of N385.7 billion between January and June this year, compared to N438.7 billion same period in 2015. Public Relations Officer (PRO) of NCS, Wale Adeniyi, disclosed this to the News Agency of Nigeria (NAN) in an interview on Monday in …

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Group to float awards for child friendly brands, individuals Dayo Emmanuel   A Lagos-based NGO, the Nigerian Child Safety Report Initiative (NCSRI) is set to unveil a project titled the Nigerian Child Friendly Award. Briefing Nationalwire.com.ng in Lagos yesterday, President and Founder of the organisation, Mr. Wilson Ukhurebor said Nigerian children have been deprived and practically have no say in …

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Ex Redeemed pastor laments man’s inhumanity to man, travesty of justice Dayo Emmanuel A former Assistant Provincial Pastor at the Redeemed Christian Church of God, Pastor Bayo Akinjiyan has lamented the ill treatment meted against him by his former employers. Akinjiyan, a trained architect from the University of Ife, now Obafemi Awolowo University, Ile-Ife, Osun State, addressed the press at …

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E-divided Complaint: SEC re-interate June 2017 Deadline Date …To withdraw operators license over recapitalisation failure by December FRIDAY EKEOBA Worried about the slow adherence by investors in the capital market on the issue of e-dividend, the Security and Exchange Commission (SEC) has reiterated that June 31st 2017 remain the final compliance date in the equity market. SEC said it has …

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  South African economy has regained the position of Africa’s largest in dollar terms, as the value of the nations’ currencies moved in opposite directions, this is coming barely two years after losing it to Nigeria. According to Bloomberg report, based on GDP at the end of 2015 published by the International Monetary Fund (IMF), the size of South African’s …

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Quest for healing forced me into stealing – suspect Folake Sokoya   A twenty-year old man arrested by the operatives of Rapid Response Squad (RRS) of Lagos State Police Command, for allegedly stealing a mobile phone, has said that a festering sore in his right leg forced him into the criminal act. The suspect, Sunday Vincent, was apprehended by Policemen after forcefully …

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The African Development Bank has approved a nine million dollar equity investment in the Fund for Agricultural Finance in Nigeria (FAFIN) to provide expansion capital to agricultural small and medium-sized enterprises (SMEs). This was contained in a press statement issued by the bank on Monday and published on its web: www.afdb.org. According to (NAN) the statement said that FAFIN is a first-generation private …

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