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The Senate on Tuesday called for the abolition of Excess Crude Account. The Upper Chamber also called on the executive to pay the amount above the oil benchmark into the Federation Account in compliance with the constitution. It further requested the executive to act in conformity with Sections 80 (1-4) and 162(1-3) of the 1999 Constitution (Amended) in its revenue …

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The Nigerian Electricity Regulatory Commission on Monday released the newly-approved eligible customers’ law and outlined the terms that would guide the direct purchase of electricity by end-users from power generation companies. In May this year, the Minister of Power, Works and Housing, Babatunde Fashola, declared that eligible power consumers would be free to purchase electricity directly from the Gencos. By …

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The Lagos State Commissioner for Environment, Dr. Babatunde Adejare, has expressed the resolve of the State Governor, Mr. Akinwunmi Ambode, to create 60,000 direct and indirect jobs through the Cleaner Lagos Initiative (CLI). Adejare, who disclosed this in Lagos on Monday at the on-boarding of the ward resident contractors to oversee the work of the 27,500 community sanitation workers, said …

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In keeping with its commitment to promote qualitative education and sustainable development in Nigeria, Keystone Bank Limited, has handed over a renovated and fully equipped Sick Bay to Dodan Barracks Primary School, Obalende, Lagos to manage remote health challenges of the students. Speaking on the lender’s passion for investment in the education sector at the commissioning ceremony, the Divisional Head, …

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Foremost industrialist and entrepreneur, Tony Elumelu, on Monday urged Nigerian and foreign investors to take advantage of the World Bank’s Ease of Doing Business ranking of Nigeria to invest in the country.  Speaking with Journalists after a visit to the Presidential villa, Elumelu said there is so much private global capital looking for investment destination, adding that this new ranking would attract …

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The Nigerian Stock Exchange (NSE) confirmed Wednesday that Mr. Ade Bajomo, Executive Director, Market Operations and Technology has resigned his appointment effective December 31, 2017 to pursue other challenges. Also, Mr. Haruna Jalo-Waziri, in light of his recent appointment as the Chief Executive Officer of CSCS Plc, has resigned his position as Executive Director, Capital Markets at The Exchange effective …

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Nigeria commercial nerve centre, Lagos, has been ranked the second cheapest city in the world for expatriates. According to a report by the Economic Intelligence Unit on Monday, Lagos which fell 16 places to 132nd place on the world priciest cities index joins Khakaztan’s Almaty at the bottom. The report said, “Although Nigeria has been attracting significant interest and investment in recent years, …

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The World Bank has issued a fraud alert warning Nigerians against a ‘cooperative’ scheme being promoted in the name of the global financial institution. In a statement made available to our correspondent by the Bank’s spokesperson, Olufunke Olufon, on Monday, the Bank said it had no hand in the “fraudulent scheme.” It said, “The World Bank’s attention has been drawn …

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The National Insurance Commission (NAICOM) has licensed two Takaful companies to operate while the processing of other applications is on-going, Commissioner for Insurance Mohammed Kari has said. Kari, who stated at this the weekend in his goodwill message at the  inuaguration of the Kano Branch of Jaiz Takaful in Kano State, said Takaful Insurance would solve the challenge of public …

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Unity Bank Plc has lifted  the trophy of the 31st edition of Central Bank of Nigeria (CBN) sponsored Financial Institutions Football League after beating Securities and Exchange Commission (SEC)  1-0 at Lafia Stadium,  Nasarawa state. For emerging tops at the competition, Unity Bank got N2 million prize and a trophy as its reward for outperforming 12 other teams that participated in …

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