Our attention has been drawn to the order of the Federal High Court in Lagos directing that seven (7) commercial banks, including UBA Plc, temporarily remit a total of $793,200,000 allegedly hidden in contravention of the Federal Government’s Treasury Single Account policy pending the determination of the suit filed by the Attorney General of the […]
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Pan-African financial institution, United Bank for Africa (UBA) Plc has announced an immediate upward review of the monthly international spend limit on its debit and prepaid Naira cards from $100 to $2,000. The upward review, which represents a marked increase by 1,900 per cent, allows customers to withdraw up to $2,000 per month as against […]
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Speaking at an interactive forum in Lagos, the president of the Nigerian Labour Congress (NLC), Comrade Ayuba Wabba, on Wednesday, said a 29-member committee on a new National Minimum Wage will begin sitting before the end of July. “Before the end of this month, the process of discussions on a new minimum wage will commence.” […]
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At the 30th Anniversary celebration of the award-winning Transcorp Hilton Abuja, the Honourable Minister of Labour and Employment, Chris Ngige, commended the relentless efforts of the chairman, Transnational Corporation of Nigeria Plc, Tony O. Elumelu CON, towards job creation as a strategy for poverty alleviation in Nigeria and Africa. “ I am here because Tony Elumelu […]
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Access Bank Plc has just scored a rare repeat performance at the 2017 Karlsruhe Sustainable Finance Awards in Germany by receiving the “Outstanding Business Sustainability Achievement Award 2017”. The award was presented to Access Bank CEO, Herbert Wigwe in Karlsruhe, Germany’s most sustainable city a year after Access Bank made history as the first African […]
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Emerging Markets Telecommunication Services Limited (EMTS), the former operators of Etisalat in Nigeria, on Tuesday confirmed changing its brand name to 9mobile — and it is now due for official unveiling on Wednesday. Kokomansion Media reported a change in the trading name of Etisalat last Friday. Recall that when the major investor, Mubadala of the […]
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A statement from the ministry of finance revealed that a second tranche of Paris Club refund has been given to states by the federal government. In the breakdown given, it was said that the payments, which totalled N243,795,465,195.20 were made to the 36 states and the federal capital territory upon the approval of President Muhammadu […]
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Nigeria’s Federal Government on Tuesday announced the award of a licence to Ondo State Government to mine its rich deposit of bitumen, said to be one of the largest in the world. The Minister of Mines and Steels Development, Dr. Kayode Fayemi who made this known at the First Ondo State Investment Forum held at the International […]
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The Central Bank of Nigeria (CBN) has intervened in inter-bank Foreign Exchange Market with the supply of $195 million as an effort to stabilise the market. According to the acting Director, Corporate Communications of the apex bank, Mr Isaac Okorafor, $100 million was offered through the wholesale segment. The Small and Medium Enterprises (SMEs) segment […]
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Nigeria’s Minister of Information and Culture, Alhaji Lai Mohammed, on Monday announced the establishment of a $1m venture capital to boost the Nigerian creative industry. The minister stated that the $1m venture capital would provide seed money for young and talented Nigerians to set up businesses in the industry. This was revealed at the opening […]
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