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Naira stabilises at N497/$ as hope of recovery imminent

Naira stabilises at N497/$ as hope of recovery imminent

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The Naira on Monday stabilised at N497 to a dollar at the open market just as stakeholders expressed hope in its imminent recovery, the News Agency of Nigeria, NAN, reports. ...

Gov. Sani Bello woos Indonesian investors

Gov. Sani Bello woos Indonesian investors

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Niger State Governor, Alhaji Abubakar Sani Bello has urged Indonesian investors to cash on the abundant availability of high quality Cotton in the state to establish textile ...

Contractor, not NEMA culpable in diversion of food meant for IDPs – Senator

Contractor, not NEMA culpable in diversion of food meant for IDPs – Senator

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The Senate Majority Leader, Ali Ndume, on Tuesday cleared the National Emergency Management Agency, NEMA, of complicity in the alleged diversion of relief materials meant for the ...

UBA, AfDB sign $150m loan agreement

UBA, AfDB sign $150m loan agreement

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The African Development Bank Group (AfDB) and Nigeria’s United Bank for Africa (UBA) have signed a $150 million loan agreement to finance Small and Medium Scale enterprises ...

Nigerian equity market loses 0.06 per cent

Nigerian equity market loses 0.06 per cent

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Activities on the Nigerian Stock Exchange, NSE, resumed on Monday, still on a negative note with the market indices depreciating by 0.06 per cent. The News Agency of Nigeria ...

2017 budget targeted at stimulating private sector investment – Udoma

2017 budget targeted at stimulating private sector investment – Udoma

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The Federal Government said on Monday that the focus of the 2017 Budget would be to stimulate private sector investment and fast-track the exit of the economy from recession. ...

BOI trains youth on entrepreneurial skills

BOI trains youth on entrepreneurial skills

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The Bank of Industry (BOI) and the African Community Bridge Foundation (ACBF) on Tuesday commenced the training of 131 youths from Taraba and Adamawa in various entrepreneurial ...

Samsung recalls Galaxy Note 7 from Nigeria

Samsung recalls Galaxy Note 7 from Nigeria

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Although the Galaxy Note 7 phones had not been officially released in Nigeria before the recall, some dealers and customers had already purchased the phone from other countries. ...

Nigeria licenses 6 slots to broaden broadband penetration

Nigeria licenses 6 slots to broaden broadband penetration

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The Minister of Communications, Adebayo Shittu, says the Federal Government has licensed six slots of the 2.6 MHz Spectrum for the deployment of 4G-LTE services in its efforts to ...

Buhari: Nigeria shall return to good old days of accountability

Buhari: Nigeria shall return to good old days of accountability

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President Muhammadu Buhari has restated the determination of his administration to restore the country to the “good old days of accountability”. Speaking at a meeting Tuesday ...

Nigerian government declares support for Innoson’s $1 billion Chinese investment

Nigerian government declares support for Innoson’s $1 billion Chinese investment

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In the next few years, the Buhari administration will continue to actively pursue a plan for the massive manufacturing and production of goods in the country as much as possible, ...

Pounds falls to lowest level in 31 years

Pounds falls to lowest level in 31 years

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Britain’s pound dipped below $1.27 for the first time since June 1985, the outcome of trading showed on Wednesday. Financial analysts said in London that fears of a ‘hard’ ...

Naira crashes against major currencies

Naira crashes against major currencies

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The Nigerian currency on Wednesday depreciated against the three major currencies in all the segments of the Forex market, the News Agency of Nigeria reports. At the Interbank ...

US-Africa Policy, Somethings Don’t Need To Change” – Elumelu

US-Africa Policy, Somethings Don’t Need To Change” – Elumelu

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Nigeria's top financial entrepreneur, Tony Elumelu at the weekend in Delaware while speaking as the Keynote Speaker at the US Senator Chris Coons’ Opportunity Africa Conference ...

CBN tasks states to set up Bank of Industry

CBN tasks states to set up Bank of Industry

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The Central Bank of Nigeria (CBN) has advised states without a Bank of Industry to facilitate the establishment of one in order to speed up industrialisation and other economic ...

CBN licenses 11 international money transfer operators

CBN licenses 11 international money transfer operators

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The Central bank of Nigeria (CBN) on Tuesday licensed 11 new international money transfer operators (IMTOs) to do business in the country's foreign exchange market. The ...

Nigeria’s inactive telephone lines increase to 67 million

Nigeria’s inactive telephone lines increase to 67 million

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The Nigerian Communications Commission (NCC) says inactive lines in the country’s telecommunications industry have increased from 65,186,763 in May to 67,331,498 in June 2016. ...

Naira gains at  interbank market, close at N317.34

Naira gains at interbank market, close at N317.34

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The Naira on Monday depreciated against the dollar at the parallel market, the News Agency of Nigeria (NAN), reports. The Nigerian currency lost N3 to exchange at N393, from ...

AfDB approves $9m equity investment for SME’s in Nigeria

AfDB approves $9m equity investment for SME’s in Nigeria

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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 ...

Lagos targets N30billion monthly IGR, says Ayorinde

Lagos targets N30billion monthly IGR, says Ayorinde

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The Lagos State Commissioner for Information, Steve Ayorinde, on Monday said the state government plans to generate N30 billion as its monthly internally generated revenue (IGR) ...