Category: Business News
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Nigeria’s economy on right tract – CBN
Dr Hassan Mahmud, Director, Monetary Policy Department of the Central Bank of Nigeria (CBN) said there were positive sides to Nigeria’s economic growth, despite uncertainties in the domestic and global economy. Mahmud said this at the Mid-year Economic Review and Outlook 2021, organised by the CIBN Centre for Financial Studies, in collaboration with B. Adedipe…
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FG exempts states from airport concession, allays fears of mass sack
The concession of four major airports in the country is open to all qualified entities except state governments, the Federal Government has said. Minister of Aviation, Senator Hadi Sirika, made this known as the drive for the concession of the nation’s major airports gathers momentum. He made the remarks at a Zoom meeting held on…
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Jubilation as first commercial flight lands at Bayelsa Airport
Commercial flight operations commenced at the Bayelsa State International Airport on Wednesday with the United Nigeria Airline (UNA) aircraft touching down about 3.45pm. The aircraft, which took off from the Murtala Mohammed Airport 2 (MMA2) in Lagos exactly 3pm, had on board the state governor, Senator Douye Diri, the airline’s chairman, Chief Obiora Okonkwo, Tokyo…
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World Bank names Nigeria among high debt risk nations
The World Bank has listed Nigeria and nine other countries as nations with high-debt risk exposure. In a financial statement for the International Development Association (IDA) released on Monday, the World Bank pegged Nigeria at number five with a $11.7b IDA debt stock. “As of June 30, 2021, the ten countries with the highest exposures…
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Coy Income Tax increases by N472.07 billion in Q2 – NBS
The National Bureau of Statistics (NBS) says N472.07 billion was generated as Company Income Tax (CIT) in Quarter Two (Q2, 2021) as against N392.64 billion generated in Q1. The NBS said this on Wednesday in Abuja in its “Company Income Tax By Sectors Q2, 2021” data published on its website. The sum which reflected an…
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Dangote, only Nigerian on Bloomberg’s top Billionaires’ lists
Africa’s richest man, Aliko Dangote has significantly moved up in the World billionaires’ list as his fortune increased to $17.8 billion as against last year’s $14.8 billion to emerge as the only Nigerian in the Bloomberg’s yearly top billionaire lists. Other Africans on the lists are three South Africans. They are Johann Rupert and…
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CBN releases guidelines for regulation, supervision of Credit Guarantee Companies
The Central Bank of Nigeria (CBN) on Tuesday released guidelines for registration and supervision of Credit Guarantee Companies (CGCs) in Nigeria. The guidelines are contained in a circular by Ibrahim Tukur, CBN’s Director, Financial Policy and Regulation Department, addressed to Commercial Banks, Other Financial Institutions and Stakeholders in the Financial Services Industry. Tukur said that…
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NNPC posts ₦43.57bn trading surplus in April
The Nigerian National Petroleum Corporation (NNPC) on Sunday declared a trading surplus of ₦43.57 billion in April 2021 representing a 23.64% increase over the ₦35.24bn surplus it recorded in the previous month of March 2021. Spokesman of NNPC, Dr Kennie Obateru said the figure came from the April 2021 edition of its Monthly Financial and…
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How 20 armed men attacked two commercial banks, killed officer in Osun – Police
The Osun Police Command says it is on the trail of the armed robbers that attacked two commercial banks in Iree, Boripe Local Government Area of Osun, on Thursday. The police also confirmed that the robbers killed a police constabulary and carted away undisclosed sum of money during the operation. Osun Police Spokesperson, SP Yemisi…
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22-year-old man defrauds 170 people of N10.7bn in months using fake investment schemes
The Nigerian police have arraigned a young man, Joshua Adeyinka Kayode, (22), before a Federal High Court sitting in Lagos, for allegedly using a fake investment scheme to defraud 170 people to the tune of N10.7 billion. He was arraigned on Thursday before Justice Tijjani Ringim on 170 counts of conspiracy and obtaining money by…