Category: Business News
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NNPC defends decision to spend $1.5bn to rehabilitate Port Harcourt refinery
The Nigerian National Petroleum Corporation (NNPC) yesterday vigorously defended the approval of a whopping $1.5 billion for the rehabilitation of the Port Harcourt refinery, maintaining that apart from following due process, building a new refinery in the class of the one in Rivers will cost the federal government between $7 billion and $12 billion. Group…
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See list of all approved operators with which you can send money to Nigeria
The Central Bank of Nigeria (CBN) on Monday released a list of approved international money transfer operators with which to send money to Nigeria. TheNewsGuru.com (TNG) reports the list released by the CBN followed the introduction of Naira 4 Dollar Scheme by the apex bank in bid to sustain the increase in inflows of diaspora…
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$1.5bn P/H refinery rehabilitation: Hold me accountable for every cent spent, Timipre Sylva tells Nigerians
The Minister of State for Petroleum Resources, Timipre Sylva, has promised to ensure that every cent of the $1.5 billion proposed for the rehabilitation of the Port Harcourt refinery is accounted for. The minister asked Nigerians to hold him responsible in the event of anything otherwise. “I can look at the camera; they (Nigerians) can…
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President sacks Central Bank Governor after interest rate hike
Turkey’s president has fired the central bank governor, who in his four months in office had won the praise of investors for hiking interest rates and promising tighter monetary policies. In a decree published in the Official Gazette early on Saturday, President Recep Tayyip Erdogan announced the departure of Naci Agbal, a former finance minister.…
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Fayemi faults FG’s planned rehabilitation of Port Harcourt Refinery, says ‘Dangote’s own underway’
Chairman of the Nigerian Governors’ Forum and Ekiti State Governor, Kayode Fayemi, has said that more information is needed to justify the rehabilitation of the Port Harcourt refinery. TheNewsGuru.com, TNG reports that the Federal Executive Council had on March 17 approved $1.5 billion for the rehabilitation of the Port Harcourt refinery which is said to…
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Wema Bank appoints Obioha Obiagwu as Executive Director
The Board of Directors of Wema Bank Plc. on Friday announced the appointment of Mr. Obioha Chukwuemeka Obiagwu as an Executive Director of the Bank. According to the bank, the appointment which has been approved by the Central Bank of Nigeria (CBN) takes effect from April 1, 2021. The new executive director is a multi-disciplinary…
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GTBank announces profit before tax of N238.1bn for 2020
Guaranty Trust Bank Plc in Thursday released its audited financial results for the year ended Dec. 31, 2020 to the Nigerian and London Stock Exchanges, announcing a profit before tax of N238.1 billion. The audited result released by the bank showed that profit before tax increased by 2.8 per cent to N238.1 billion compared with…
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We’ll fully deregulate petrol before year end – FG
Minister of State for Petroleum Resources, Timipre Sylva on Tuesday said full deregulation of Premium Motor Spirit (PMS), also known as petrol will be achieved before year end. Sylva stated these while speaking at the annual conference of the Nigerian Mining and Geosciences Society (NMGS), held at the University of Ibadan, on Tuesday. He said…
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Buhari’s minister decries high price of cement in Nigeria
The Minister of Mines and Steel Development, Mr Olamilekan Adegbite, has decried the high price of cement in Nigeria, saying it leads to quackery and building collapse. Adegbite made the assertion at the second edition of Lafarge Africa Plc Quarterly webinar – Concrete Ideas. It is a platform for deliberation of issues, policies and developments…
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JUST IN: NCAA suspends Azman Air with immediate effect
Following a series of incidents involving Azman Air Boeing 737 aircraft, the Nigerian Civil Aviation Authority (NCAA) has suspended the operations of all the Boeing 737 aircraft in the fleet of Azman Air Services Limited, with effect from March 15, 2021. This is contained in a statement signed by Capt. Musa Nuhu, the Director-General of…