Politics

Nigeria’s economy shrinks by 2.2% in third quarter Despite claims of growth, the Nigeria’s economy in the third quarter contracted as businesses struggled to access foreign exchange and rebels continued to bomb oil pipelines in the restive south, official data showed Monday. “The nation’s gross domestic product (GDP) contracted by -2.24% year-on-year,” the country’s National Bureau of Statistics said in …

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Market Growth: SEC, NERDC signs MoU on introduction of Capital Market Studies The Securities and Exchange Commission (SEC) is set to achieve another milestone by infusing capital market studies (CMS) into schools curriculum with the signing of a Memorandum of Understanding (MoU) with the Nigerian Educational Research and Development Council (NERDC). This was done weekend at the Commission’s head office …

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Ashakacem board concludes voluntary delisting from NSE The Board of Directors of AshakaCem Plc has entered a resolution proposing to the shareholders of the Company, a Voluntary Delisting of the Company from the floor of the Nigerian Stock Exchange (NSE). The resolution will be presented to shareholders of AshakaCem for consideration at an Extraordinary General Meeting (EGM) scheduled to hold …

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Forte Oil Plc Raises N9bn 5-year Fixed Rate Bond Forte Oil Plc, one of the leading indigenous energy service provider, has successfully raised N9billion bond under its N50billion bond issuance programme. The funds raised will be used to refinance existing short term commercial bank loan obligations and to finance the retail outlet expansion of the company. The company has an …

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Road users renew calls on FG to fix Apapa/Tin Can Island Port Access Road Some road users in Lagos on Friday renewed appeals to the Federal Government to repair the Apapa/Tin Can Island Port Access road, which is again in terrible condition. The road users in interviews told the News Agency of Nigeria (NAN) that the bad state of the …

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  Sterling Bank Completes Temenos IT Transformation Project …Rolls out Core Banking Solution across 185 branches Software specialist for banking and finance, Temenos (SIX: TEMN), has announced that Sterling Bank Plc, has successfully gone live with Temenos UniversalSuite, just as it   simultaneously rolls out Temenos Core Banking Solution across 185 branches. The Geneva based software specialist in a statement made available …

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Corrupt Nigerians fighting me with stolen wealth, Buhari laments President Muhammadu Buhari has lamented that some Nigerians who had corruptly enriched themselves in the past are currently using the stolen funds to wage war against his administration. He said the situation has made his administration’s ongoing anti-corruption war “tough and grueling.” According to a statement on Thursday by his Special …

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Manufacturers lost N500bn to CBN’s forex policy – MAN The Manufacturers Association of Nigeria on Thursday said Central Bank of Nigeria’s flexible exchange rate policy had culminated to N500bn loss for manufacturers. According to agency report, the Chairman, MAN, Apapa Branch, Mr. Babatunde Odunayo, made the assertion during the branch’s 45th Annual General Meeting in Lagos. He said that Letters of …

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