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Business news

Month: February 2017

NIRSAL: Stimulation of private sector investments in River Basins to boost food production

Fidelia Okafor. The Nigerian Incentive Based Risk Sharing for Agricultural Lending (NIRSAL) says it will facilitate finance to optimise land, infrastructure and water resources within the 11 existing River Basins Development Authorities (RBDAs) in Nigeria. The strategic deal is a partnership with the Federal Ministry of Water Resources which is expected to boost food production […]

NCC reviews mobile voice termination rates

Amaka Obiefuna. The Nigerian Communications Commission (NCC) is set to review the interconnection rates for voice services fixed in 2013 in light of current market realities. The Executive Vice Chairman of NCC, Prof. Umar Danbatta said this on Wednesday in Abuja at a “Stakeholder’s Forum on Cost Based Study’’ for the determination of mobile voice […]

Why we took over Arik –AMCON

Fidelia Okafor. The Managing Director of Assets Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, said the corporation took over Arik because the airline was owing it N146 billion. He made this known at a meeting with the Senate Committee on Banking, Insurance and other Financial Institutions on Wednesday in Abuja. It can be recalled that […]

Aregbesola appeals to Nigerians to patronise ‘Ofada Osun Rice’

Fidelia Okafor. Gov. Rauf Aregbesola of Osun has appealed to Nigerians to patronise local rice to boost local production of the commodity to boost food security and ensure sustenance of the nation’s economy. Aregbesola made the appeal at an interaction with rice farmers at Onilapa Rice Settlement, Ogbaagbaa, Olaoluwa Local Government Area of the state […]

US reveal details of calls between Trump and Buhari (Readout)

Winifred Bosa. The White House has published details of the phone conversation that took place between US President Donald Trump and President Muhammadu Buhari on Monday. The White House Press Secretary and Communications Director, Sean Michael Spicer confirmed on Tuesday, ‎the phone call between the two leaders. However, the readout was released on the official […]

Senate leaders, Dogara visit president Buhari in London -Photos

Fidelia Okafor. President of the Senate, Dr Bukola Saraki, Speaker, House of Representatives, Yakubu Dogara; Deputy Speaker, Lasun Yusuf and Senate Leader, Senator Ahmed Lawan.on Wednesday travelled to London to visit President Muhammadu Buhari, who is on medical check. Special Adviser on Media to Saraki, Mr Yusuph Olaniyonu, confirmed the trip via telephone on Wednesday […]

Counterfeit naira in circulation is less than 1%—-CBN

Amaka Obiefuna. The Central Bank of Nigeria (CBN) says the amount of counterfeit naira in circulation is less than one per cent. The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor disclosed this in a statement issued on Tuesday in Abuja A former Deputy Governor of the CBN, Dr Obadiah Mailafia, said on Monday in […]

Ex-NNPC GMD, Yakubu forfeits $9.8m, E74,000 to FG on court order

Winifred Bosa. A Federal High Court sitting in Kano presided over by Justice Zainab B. Abubakar Tuesday ordered the forfeiture of the sum of $9,772,000 and £74,000 recovered from a former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu to the Federal Government. The order was sequel to an ex […]

TSA improves visibility of Nig revenue

Fidelia Okafor. Since the full take off of the Treasury Single Account (TSA), all federal government agencies rake in an average of N13 billion daily. This disclosure was made by Vice President Yemi Osinbajo who was represented by Dr Adeyemi Dipeolu, Special Adviser, Economic Matters to the President, office of the Vice President at a […]

Nigeria’s Eurobonds: FMDQ admits first listing

Amaka Obiefuna. The FMDQ Over-the-Counter Securities Exchange is set to admit the pioneer listing of the $1bn Federal Government of Nigeria Eurobond to its platform. The move, according to the Exchange, is in consolidation of the strategic and value-adding initiatives spearheaded by FMDQ platform in developing the Nigerian financial market. The FGN, on February 9, […]

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