Category: Business News
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Fidelity GAIM Season 4 Final Draw To Hold On July 22
Fidelity Bank Plc, top Nigerian lender, has announced plans to enrich the lives of fifteen Nigerians with a total of 39 million Naira at the final draw of the Get Alert in Millions Campaign (GAIM) Season 4 savings promo, slated for July 22, 2021. The savings promotion, which is specifically aimed at promoting the…
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IMF expresses concerns over Nigeria’s unemployment, inflation rates
An International Monetary Fund (IMF) team on Thursday said that Nigeria’s economy was “gradually” recovering from the negative effects of the COVID-19 pandemic. IMF disclosed this in its End-of-Mission statement from its headquarters in Washington, DC, on preliminary findings following virtual meetings by its staff teams with the Nigerian authorities from June 1 to 8.…
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Nigeria’s inflation rate drops further by 0.19 per cent
The National Bureau of Statistics (NBS) Tuesday said that inflation rate in the month of May 2021 is now 17.93 per cent. The Bureau said the figure reduced by 0.19 per cent from the 18.12 per cent recorded in April, 2021. The NBS made this known in its Consumer Price Index (CPI) report of May…
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Buhari Flags Off NLNG Train 7 project, charges stakeholders on timely completion
President Muhammadu Buhari has flagged off the Nigeria Liquefied Natural Gas (NLNG) train 7 project, seeking its timely completion so that the Train 8 project can commence. The President stated this on Tuesday at the virtual groundbreaking ceremony of the project in Bonny Island, Rivers State. He urged the Board of Directors, Management and Staff…
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Ecobank Nigeria Pledges More Support And Collaboration With Bankers Institute
Ecobank Nigeria Pledges More Support And Collaboration With Bankers Institute The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has pledged more support and collaboration with the Chartered Institute of Bankers of Nigeria (CIBN), the umbrella body of all bank workers in the country. Akinwuntan who was speaking during a courtesy visit by the President and Council…
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Senate Commends NNPC Anti-Corruption Efforts, Drive Towards Profitability
The Nigerian Senate has commended the Nigerian National Petroleum Corporation (NNPC) for its efforts towards entrenching transparency and stamping out corruption from its system. The commendation was given by the Chairman of the Senate Committee on Anti-Corruption and Financial Crimes, Senator Suleiman Abdu Kwari, at a hearing which held at the National Assembly Complex, Abuja,…
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Nigeria’s debt profile hits N33.1tn
Nigeria’s total debt stock rose by N191bn in the first quarter of this year, according the figures released by the Debt Management Office on Wednesday. The DMO said the debt stock rose to N33.107tn as of the end of March 2021 from N32.916tn in December 2020 It said the country’s external debt however reduced due…
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World Bank projects 5.6% growth for global economy
The global economy is expected to grow at 5.6 per cent in 2021, although many emerging market and developing economies continue to struggle with the COVID-19 pandemic and its aftermath. The World Bank said this in its June Global Economic Prospects released on Tuesday in Washington D.C., adding that the expected growth was based largely…
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UBA, DEG Sign $50m Term Loan to Support Small Businesses in Nigeria
Pan African financial institution, United Bank for Africa (UBA) Plc, and Deutsche Investitions- und Entwicklungsgesellschaft mbH, the German Development Finance Institution, have entered into a partnership aimed at supporting small and medium scale businesses (SMEs) in Nigeria. To this end, both institutions have signed a USD 50m Term Facility Agreement. The facility with a tenor…
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Wema Bank Employees Empower Underprivileged Women Traders In Ferry Community
Employees of Wema Bank Plc, the leading Innovative bank in Nigeria, have raised the bar in corporate social investment by building a pool of funds for underprivileged women empowerment to expand their scope of business under the auspices of Project Ferry. Through the salary for love initiative, employees of the bank in the Lagos Region…