The National Bureau of Statistics (NBS) says Automated Teller Machines (ATMs) from selected banks across the country recorded transactions valued at N1.568 billion in first quarter. The NBS stated this in its Selected Banking Sector Data for first quarter, 2018, posted on its website. The bureau stated that a total of 457,226,406 transactions valued at […]
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Chinese telecom giant ZTE has asked the US government to lift a ban on sales to the company, which threatens its survival and has added to trade tensions between Washington and Beijing. The telecom equipment and handset maker said in a filing Sunday that it had submitted a request to the commerce department for a […]
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Nigeria has given licenses to 13 firms to establish modular refineries. A total of 35 firms expressed interest to establish the refineries, indicating less than half got the approvals from the department of petroleum resources. This was disclosed by Maikanti Baru, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), at the Offshore […]
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At least eight ships laden with various products including petrol are waiting to berth at the Lagos ports, the Nigerian Ports Authority (NPA) said on Thursday. The NPA disclosed this in its daily “Shipping Position,” made available to the News Agency of Nigeria (NAN) in Lagos. It said that seven of the vessels were waiting […]
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Shareholders of Transnational Corporation of Nigeria Plc (Transcorp) strongly commended the Board and management for Transcorp’s impressive contribution to transforming the Nigerian power sector, through its power subsidiary, Transcorp Power. The commendations were received at the 12th Annual General Meeting of Transcorp, held on April 30th 2018, at Oriental Hotel, Victoria Island, Lagos. The shareholders were responding to Transcorp’s […]
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The Osun State Internal Revenue Service on Wednesday sealed the Administrative Bock of Obafemi Awolowo University (OAU), Ile-Ife, over a N1.8 billion tax debt. The News Agency of Nigeria (NAN) reports that the officials of the service, who came with policemen and NSCDC personnel, put the gates of the block under lock and key after […]
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International oil benchmark, Brent crude, on Monday hit $75 per barrel and rose further amid growing geopolitical tensions in the world. Brent, against which Nigeria’s crude oil is priced, stood at $75.16 per barrel as of 8:15pm Nigerian time, while the United States’ marker, West Texas Intermediate, traded around $68.36 per barrel. The rise in […]
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While briefing Journalists on the outcome of the Federal Account Allocation Committee (FAAC) meeting held on Thursday, Ahmed Idris, the Accountant-General of the Federation (AGF), said the federal government, states and local governments shared N626.8 billion for the month of April. Giving a breakdown of the revenue accrued in March, Mr Idris said N480.59 billion […]
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The Nigerian Communications Commission (NCC) said it remitted N49.7 billion to the Federal Government in the first quarter of 2018. Mr Tony Ojobo, the NCC’s Director of Public Affairs said in a statement on Thursday that the remittance was in compliance with the Fiscal Responsibility Act of 2007 (FRA 2007). Ojobo said the figure represented […]
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Pan African financial institution, United Bank for Africa Group (UBA) has released its unaudited first quarter results, showing significant growth across major income lines. Following a sterling performance in the 2017 financial year, UBA Group delivered another impressive 18% percent year-on-year growth in gross earnings in the first three months of 2018. Leveraging on strong […]
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