BUSINESS

NCAA downscale FirstNation’s certificate of airworthiness; gives reasons

The Nigerian Civil Aviation Authority, NCAA, says it has downscaled the Certificate of Airworthiness of FirstNation Airways as a scheduled operator to a non-scheduled operator over alleged violation of safety procedures. Muhtar Usman, the Director-General of the agency, told journalists ...

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Nigerian banks sacked 8,663 people between Jan and June

The National Bureau of Statistics has released data showing that 8,663 people were “sacked” by Nigerian banks between January and June 2017. When broken down, the data shows that an average of 360 people have been sacked every week from ...

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Access Bank Encourages Savings through Family Fortune Promo

Fortune Promo

Foremost Nigerian financial institution, Access Bank Plc has rewarded 120 of its loyal customers whilst promoting financial inclusion and encouraging a savings culture in Nigeria. This is in line with the Federal Government’s quest to boost economic growth in the ...

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NNPC saves $3bn annually from oil production cost

The Nigerian National Petroleum Corporation (NNPC) says it has successfully reduced the cost of producing one barrel crude oil to $23 from $78 as at August 2015, has therefore been able to save about $3 billion annually. According to a ...

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GTBank records ₦101.1billion profit before tax in six months

Guaranty Trust Bank plc, “GTBank” has released its audited financial results for the half year ended June 30, 2017 to the Nigerian and London Stock Exchanges. A review of the half year performance, shows positive growth across all key financial ...

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FIRS collaborate with states to track high net worth individuals

The joint tax board (JTB) and the Federal Inland Revenue Service (FIRS) have started sharing information of high net worth individuals to profile their income and tax payments. Speaking at the 138th meeting of the JTB on Sunday, Babatunde Fowler, ...

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Shell paid $31bn to FG between 2002 and 2016

Igo Weli, general manager, external relations of Shell Petroleum Development Company (SPDC) stated that the remitted $29.8 billion to the federation account and $1.2 billion to Niger Delta Development Commission (NDDC) between 2002 and 2016. He made the disclosure on ...

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FEC approves refinancing of Nigeria’s domestic debt into $3 billion treasury bills

The Federal Executive Council, FEC, on Wednesday approved the refinancing of the country’s domestic debts into treasury bills worth $3 billion as part of the overall strategy of government to reduce the cost of borrowing. The Minister of Finance, Kemi ...

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Mobil Oil officially changes name to 11 Plc

Mobil Oil Nigeria Plc has officially changed its name to 11 Plc (to be pronounced as Double One Plc). According to information contained in a statement signed by Godstime Iwenekhai, acting head, listings regulation department of the Nigerian Stock Exchange, the ...

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OSINBAJO TO FOREIGN INVESTORS: If you want to invest in Africa, come to Nigeria now or regret later

NIGERIA – Acting President Yemi Osinbajo has advised foreign investors to take advantage of the opportunities in the Nigerian economy  now or risk blaming themselves in 10 years time. Osinbajo made made this declaration when he spoke at the Presidential ...

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